Did You Tune in to the State of Steem Forum Yesterday?
It's almost 5 hours long! You can listen here on DTube: The State of Steem Forum #1, supported by DSound - Thursday 13 December 2018 [recording]
Or listen on YouTube here:
Big thanks to @pennsif for putting this together.
There were so many passionate people involved. It truly was a great meeting. I really liked the focus on creating value through businesses, outreach, and applications people love. Great ideas from @oracle-d's @starkerz and @steemmonster's @aggroed were my highlights.
Here's something I added to the conversation:
In some ways we're dealing with some identity issues: What is the Steem blockchain? What is it used for?
- Rewarding social media posts with value? If so, where does that value ultimately come from (ads, paid post promotion, some other mechanism?)
- Distributing cryptocurrency to those who wouldn't otherwise have it (a fancy faucet)? Is it the killer app for cryptocurrency mass adoption? (See Dan's post Steemit's Evil Plan for Cryptocurrency World Domination) If so, does the Steemit interface (or the price of STEEM) really matter?
- A platform for empowering social media-powered applications? Should the focus be on promoting different interfaces (busy, steempeak, eSteem, Partiko, etc)?
- Something else we haven't considered more as a broader community (Oracle-D's approach to getting businesses involved, gaming examples like Steemmonsters, etc)?
I was also reminded of some of my early posts which I think are still quite important today:
How do you define the Steem blockchain? Is it a decentralized community? If so, let's take responsibility for developing the core code and not rely on a central point of failure in Steemit, Inc. Individual apps can take responsibility for running their own nodes instead of using Steemit's API. There's a lot we can do as a community to continue on a path of decentralization. Ultimately, I think that path will create the greatest value for the Steem blockchain and STEEM holders.
It also requires structure and governance. That's the main reason people generally use centralized systems (non-profits, companies, governments, corporations, etc). It's just easier to cut down on the required lines of communication and put important decisions into the hands of a limited number of people. This creates central points of failure and leads to the corruption we so often see around us. I think we can do better. I think Decentralized Autonomous Communities are the future mechanism for how humans will interact voluntarily for mutual benefit. That's why I've been working hard to help eosDAC build tools to enable DACs (you can find out more here https://eosdac.io/ ). Maybe some day in the future the Steem community will organize together as a DAC and use on-chain governance mechanisms to make decisions about funding important projects for the Steem blockchain.
What do you think? Did you tune in to the forum? Will you be there next time? It sounds like they have a lot of interesting topics lined up.
Nice one @lukestokes! Thought provoking as always! DACs what is ur hourly rate as a DAC governance implementation advisor. (I would pay millions) infact maybe better to work with some great people I know here in steem who are experts at running consortiums. We need consortium governance on steem as much as we need dac governance systems!! Is steem a faucet, of course, but the value of that faucet is important to back and maintain
I'd be happy to help if I can. Hopefully, if @eosdac is successful, we'll make creating a DAC as easy as clicking some buttons. That's our goal. Any community can use these open-source tools. Eventually we plan to have a full chain dedicated to running DACs.
I agree, the value is important to back and maintain. I also wonder, what backed Bitcoin's faucets and their story? Maybe it's time to bring back the Bitcoin Pizza Challenge! I'd love to see your answers to that challenge. I've also had some more recent thoughts on what financial value> is which you may find interesting.
I’m about to upload a post qualifying some of last nights comments further if ur interested regards to value creation! Btc is just a capped asset that u can transfer. So it’s amazing, it’s backed by its scarcity. Steem is not as it potentially can inflate forever, so we as a community need to create more value than we lose in price drops via inflation process in order to maintain stable or growing price
To me the scarcity argument is just another shared story of financial value. Right now, new BTC is created all the time, just like STEEM. In dollar terms, far more BTC is created and added to the circulating supply than STEEM every day.
Very nice! Sounds like u have discussed this a few times already :)) it’s a fair point u make. I still think that halvenings make a difference, even if it’s just in hodler perception of scarcity.
I wonder if we should be asking how the steem community responds when they are asked where the money comes from by a newbie. Maybe the clue to steems problems will be in how the community answers this question (in a non bias / pre conceived way of course).
Would u say that the typical quick fire response from a steemians would be:
‘the money comes from the demand created for the token by investors who are cueing up to hold steem because there are so many benefits to holding the token, and we should really love these investors as when I earn steem I am essentially transferring their money In to my account, but I create such huge value for these investors with my actions so they keep on putting more money into steem’
I know it’s a little synical, but I’m sure that this is not the culture on steem right now. As a general rule the culture is more like, I posted, now why haven’t I been upvoted yet? And if I don’t get an upvote soon, I’m leaving. (This is not all cases, but I know it’s happening). This has something to do with the marketing of steem (how we all market steem) - ‘come post and get ur rewards’ where the message should probably be more like ‘come voluntarily contribute to a community or initiative and share in the profits of that initiative based on how the community percives ur input helped out....’ just thoughts and ramblings off the top of my head
HERE is my sustainable steem price video FYI
I think the quick fire response is "Uh... I have no idea? Maybe some company is paying me or something, like YouTube pays content creators?"
I think, for the most part, there's just a lot of ignorance and misplaced expectation. If more people thought in terms of "Your rewards equal the dilution through inflation of every investor that came before you" then they might have fewer expectations and less of an "It's not FAIR!" mentality regarding "their" rewards.
I've been talking about expectations for a while: How Managing Expectations Can Grow the STEEM Ecosystem (that post links to other related posts).
Excellent! I’ll take a look at this. Cheers Luke. There is a dogma about rewards. I guess our generation of steemians were the lucky or naive ones who took the rewards for granted, and we are in charge of ensuring new steemians do not take the rewards for granted. This has to be instilled at the sign up phase or even the marketing phase
I was in and out of it for a couple of hours.. five hours is a really long time. I did catch the gist of most of it.
The question that I find myself left with is the question of what value actually is to our platform.
I'm a fiction writer. I do movie reviews, and I'll write the occasional motivational post..
Is that value? I find a lot of people talk about backend apps and all the kinds of stuff I used to work on when I was a systems analyst..
IE Not writing.
I came here to write fiction. I built a following, I earned a good amount of stake, and I invested a fair amount as well.
I'm all about creating a variety of applications that will attract investors and end users, but I do think that regular content writers like fiction writers and movie reviewers should be a necessary part of the system as well.
Additionally, I think a way to reward holders should be absolutely essential. Most of us that have held this year are feeling really disappointed in pretty much everything associated with the crypto world.
I find myself with 11, 500 SP that I've held this year that I could have cashed out with and I find myself at a very diluted user base and a very very low amount of money I make in return for my upvote.
I'm really hoping some of the options that we discussed in that forum will work.
Yes, much of this was discussed and they are really good questions you bring up.
One way to think about it is how the old cryptocurrency faucets required nothing in return at all. No fiction writing, no community engagement. Nothing but clicking a button. That didn't seem to impact the future value of bitcoin in a negative way. @starkerz has a different perspective here (and I love him for it) that we should all consider the value of our contributions, and if we're extracting more value than we create. As an early investor who invested 9.5 BTC in 2016 when the price of STEEM was around $3, I full appreciate this perspective. I watched it go to $0.07. That's a bit more painful than getting money for free for doing something you don't get paid elsewhere on sites like Reddit, Medium, or Facebook.
I do think we have to consider the value we bring to the table. I also think a faucet that spreads money around widely does create value because it's the network effect of a currency that adds to its value.
It was a great forum and I look forward to the next ones in hope we start to see execution of a lotnof what has been said in an effort to decentralize the protocol and depending less on Steemit Inc. Ever since Steemit Inc’s announcement, I have been thinking about how a DAC could be created to support the development of the protocol and ensuring the long term sustainability of the ecosystem as value is created and DApps can implement business models to attract value.
Posted using Partiko iOS
So I'm not alone. Others are thinking in terms of DACs also. Cool. :)
5 Hours is a bit too much for me right now, but I agree with you. DACs are the future. If we can get a decent developer DAC with something like Worker Proposals for funding then STEEM can self-determinate.
Yep. I would love to try using the eosDAC toolkit (once we get it finished) to create a DAC for Steem. That would be sweet.
@lukestokes Very cool man. While, I didn’t tune I to the forum(I’m super busy this time of year) I got the gist of it from your post. My one question: Was Steemit Inc. at all involved in this forum. I would think that the definition of what Steem or Steemit and the direction all of this goes, would be in the hands of the business owner. As a corporation, Steemit Ink should be having meetings about all of this and noting the minutes. Then, those results are brought to “share holders” ...it seems here, we are doing it the other way around. There are a lot of great people still excited about this platform, and still pushing forward, but we are still customers/share holders, if you will. I even have the Steem logo on my front door of my business - but I am not Steemit Inc. Much success to everyone-let’s hope for the best in 2019 ✌🏾😊
Posted using Partiko iOS
Thanks for the comment. No, we are not share holders, just as bitcoin holders are not share holders of the Bitcoin protocol or blockchain. A blockchain is a decentralized entity. It simply is. The reliance on a central point of failure is against the reasons blockchains exist as a technology. I'm fine with a single company becoming less relevant over time and, hopefully, an organized community stepping up to innovate.
Never in a million years would I tune into a 5 hour online discussion on any topic. Wow! More power to you big kahunas to get some kind of turn around going on.
Without reading past that 5 hour remark for whatever it is you are all talking about up there in whale-land, I would suggest finding a way to onboard more than a couple hundred people a week. I think there are a few million people in the online world at least.
And FIX THE RC PROBLEM so people like this guy @crypto.piotr don't have to do it manually - minnow by gasping minnow.
https://steemit.com/steemit/@fitinfun/re-cryptopiotr-boosting-crypto-community-engagement-on-steemit-plus-small-announcement-regarding-delegation-of-3400sp-20181215t113927107z
I'm fairly sure some of you in the group of talkers has more than 3400 sp you could give to people who cannot even comment more than 5 times when they do manage to kick down the front door.
Wow. 5 hours... I hope some concrete action steps came out of this event.
Preach! @fitinfun :-) I have my own business to run - 5 hours is a long time. I would think that would be something that Steemit Inc. would do ...ie Board meeting...
Thank you for your kind words @fitinfun :)
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Thanks, @lukestokes was looking for a recording of this. I caught most of it very good talks in this.
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