You are viewing a single comment's thread from:
RE: My Controversial idea for Steem Power- by Charlie Shrem
It makes sense to me. I feel more satisfied when I look at my Karma rating at Reddit than I do my SP here. People can buy SP, but you can't buy Karma. It's a legitimate metric for what kind of "citizen" you are. I like it. I know it may not sit well with some people, especially those that bought Steem just to power up and watch their vests grow, but your idea has the emphasis on Steem being a social platform and not simply some kind of money generating machine to be used with your hands-off.
With the interest rate going down to 9.5% after the next hard fork, Steem Power won't generate nearly as much as it does now.
Thank you!
@Charliesherem so, are you saying we will still be earning just not as much? I heard it was going to completely stop? And I'm a bit confused on what your proposing here as your idea is about to be implemented by Ned and Dan next week?
Maybe I'm just tired and read wrong, I will have to re-read later on lol
Update:
ok I see, but I believe the whole idea from the beginning was to have an investment vehicle type social platform. I think buying SP is perfectly fine. I'm in this for the investment ride as well.
The proposed changes still have an effective interest rate on SP but it will be very low. The purpose of it as an incentive (reducing inflation) for very long term investors. Over the short term you won't even notice it (unlike now).
This is true, I hadn't thought about the fork and how it changes the rate next week. Consider that argument null! Let's implement your suggestion!
To grow your VESTs you need to either curate, post or buy steem power. Sitting there doing nothing will not give you any VESTs.