Have you ever compared the number of digits in the STEEM token compared to other crypto currency tokens such as Bitcoin, Ethereum or many others?
When I first got onto Steemit, I was already aware of Bitcoin, although I didn't purchase any Bitcoin until I got onto Steemit. One thing that struck me though, was how limited the amount of digits were for the currency. Thanks @builderofcastles for reminding me of this.
Bitcoin could be divided into smaller fractions based on a higher value so that people could transact in smaller denominations. This is advantageous if you are looking to make a currency that will become popular and have high-value. You want to make sure that it is easily divisible.
This is what brings me to thinking about STEEM and the ideas from the founders and many others about creating a currency that could gain much value and "dominate the world". For STEEM to be used more conveniently in smaller denominations, the amount of decimal places should be increased.
But the small number of decimal digits doesn't only affect the use of the currency. There is also the issue of lower volume holders of Steem Power and their influence through that SP.
Maybe most of us don't realize it, but when you have a small amount of SP you don't even influence the payout of posts enough to even apply a smaller fraction of STEEM as a reward, let alone a a full $0.01 cent or even a tenth of a cent $0.001.
This means that while people are contributing STEEM with their of votes, so even if it is a smaller fraction, is it being added with all the other small contributions to eventually equal 0.001 STEEM or $0.001 or $0.01 on someone's post?
I don't think it is. So that means people's contributions to other posts -- however small -- could still be applied but currently aren't.
This also affects curation rewards for your votes applied as well. The curation rewards are based on your SP.
A downside is that dupe accounts and people who try to use them to get more rewards for automated activity (bots) or self-voting, can get more fractional rewards as opposed to getting 0 due to their low SP (unless the owner supplies them with SP so that their votes and curation gets them more rewards). Right now the 0.000 STEEM digital limit keeps that down more.
What you think about all this?
Would you like STEEM to have more decimal places?
This would mean that for all the smaller SP holding accounts and users starting off, that they would be able to get smaller fractions of STEEM. But not SBD.
Maybe curation could be optionally done in 100% payout with SP as well? Maybe comments could be posted that way too with an option in Settings? Then SBD might become less popular, and reduce the need for SBD and the leveraging with STEEM to keep it at USD$1. Maybe that would help the price of STEEM as well?