Comparing Steem PALs
PALnet.io has been up for almost two weeks now and it seems to be going along well and shows something that I have been trying to push for a while, *that there is the potential to earn on platforms that are paying in a smart token yet still running on Steem.
But it shows something else that is interesting also.
Steemit | PAL |
---|---|
That is the voting list from Steem v PAL which in case you don't know, is ranked by vote amount added to the post. I find this encouraging as while on the left there are some heavy Steem hitters, on the right those same accounts are in a different position. What this means is that the accounts that distribute Steem are not the same accounts that are distributing PALcoin.
What does this mean for content creators? Well, those that haven't been able to gather support from larger accounts on Steem have the chance to gather some from larger PAL accounts. But, there is obviously other aspects to this too.
- It is possible to buy into PAL and have a larger relative stake than on Steem.
- It is possible that smaller accounts that have supported in the past have decided to buy into PAL
One thing I wish would stop however is people thinking that they are entitled to get support. Pretty much, whatever support you may get be appreciative of it and don't take it for granted ever because someone is choosing to add some of their value to your post. On top of this, today's Steem Redfish could be tomorrow's PAL Orca.
Remember that this is stake-weighted voting and the distribution ability is relative to the size of the pool and the amount of active stake drawing upon it. At the moment, there are only something like 200 active users of PAL each day. That means that the competition on PAL is lower meaning there is more chance of getting content seen.
Another thing that is shown by the introduction of PAL is that there is interest in obtaining the coin and there is even volume on steem-engine.com, but it is scarce and the amounts being traded are small. That is because most sellers dumped their airdrop early and now there are a few holdouts, some speculators that bought and people who are selling their payouts as they come in. Low volume with only 21,000 STEEM worth sold in the last 24 hours. But, that is 24,000 Steem worth, which at the high of 8 dollars would have been worth 168,000 dollars - a high I think Steem will exceed later.
In fact, at the current prices, PAL is worth well over 2 million dollars, not bad considering it is 2 weeks old. The price is going to likely fluctuate wildly, but with it still being a staked coin that mines PAL from the pool like Steem does - those who are just dumping whatever they get might be upset later, just like people were with Steem.
But of course, everyone likes certainty and for many that means that they are not going to invest whatever they might be able to into a very uncertain future. This is a pity in my opinion as it tends to be the same types of people over and over. What I am glad about though is that there are names appearing in the voting lists I haven't seen much of before, which means there are some people who are taking the chance on uncertainty and I hope it will pay off for them.
It is a long game however and there is a great deal of conflict to come and I am quite certain that in due course, the FUD is going to set in on PAL also and people will be saying and spraying whenever they don't achieve what they think they deserve. Deserve is generally another face of entitlement when one self-evaluates and chooses a prize as the view is rarely accurate.
PAL s a good example of what is going to happen with Smart tokens and while there will be varying degrees between astronomical success and complete failure, I am hoping that people are learning all they can and understanding that often, the system is less the issue than the behavior.
These platforms are dumb and just tools with algorithms, but users are able to make choices for themselves on how they act, interact and develop. While some people think that whatever they do should be rewarded, others adapt to the changing ecosystem -and the ecosystem is in constant flux. I see people doing the same thing over and over expecting a different result yet, they have not considered whether what they put forward is in demand or of any interest to enough people. There is no problem with that behavior other than the expectation that others should act in a certain way.
For me personally, I like all of these experiments going on and while I can't grab all the data, it will be interesting to see what kinds of accounts are getting rewarded and by whom on PAL in comparison to Steem. It is also going to be interesting over time to see which account behaviors are going to emerge as the larger staked players and, what those accounts are going to do wit their stake if they have not wielded that kind of power before.
These activities on Steem will expand across more use cases and there could be a host of tokens that either individually or together eclipse Steem in valuation and still run on the Steem blockchain. This is the power of the system and also why I am a keen investor into the Steem blockchain for the future as I believe that all of the tokens will live a more fruitful lifecycle when underpinned by the Steem protocols as it allows them the possibility to play off each other, share communities and protect through the distribution of users and invested stake.
The power of a distributed network can be incredibly strong when people take a stance of personal and community interest combined across use cases. In time, there will be economic and transactional mass on many nodes of the network and while some may fail, the chances are higher that more percentage-wise will survive as they an leverage each other in many ways. Even small applications with few users could get a fair amount of support as they integrate in to serve a portion of the user base of a larger application.
For many though, no matter what happens they are going to complain and feel victimized because they believe that the Steem world is against them, as if they are being singled out by the code itself. An interesting position considering the code is what it is for everyone equally. I have spent my fair share of time complaining about Steem in the past - these days I more prefer working out how to enjoy Steem now and in the future.
But, nothing is stopping you from complaining if that is your kink. To each their own.
Taraz
[ a Steem original ]
@roleerob @quatro @javirid @fotosdenada @melinda010100
why?
https://steemit.com/snax/@tarazkp/everyone-loves-free-snax
Thank you sir! 😊 I think (quickly checking), as I see "no idea" on several questions ...
Honesty @tarazkp, love it! 👍
P.S. Leaving soon on vacation, so short of time to check into this further at the moment, but I will!
just go and have a great vacation. Steem will probably be here when you get back.
Great advice @tarazkp. I think I'll go follow it! 👍
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Thanks, @tazazkp! Much appreciated! My amount of Snax gets bigger each day!
This is going to be so interesting to watch!
I think so as it will create separate economies that are also intertwined with each other. I am hoping that all see the value in building an ecosystem of ecosystems around steem.
I use eSteem, and I'm collecting eSteem Tokens, pal and Steem all on the same post. I'm not sure how anyone could fail to see how exciting the potential value of these Tokens could be!
Are ESteem tokens traded on Steem Engine?
Right now we are still in collecting mode, waiting for the announcement giving us details on the Tokens. I get 15 Tokens for each post, 5 Tokens for each comment, 1 token for each reblog, And 0.5 for each vote. I am excited about my growing token pile, even without knowing how they can be used!
Similar things are for Partiko users. Waiting for SMT's. But they could easily use Steem Engine to create their tokens and swap for points.
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@organduo I guess I don't understand what the difference will be between SMTs and the Tokens on Steem Engine. I know several apps have been working for months to be prepared for the SMT launch.
Nobody knows for sure yet. But as Steemit Inc was promissing SMT's and not delivering this promise, @aggroed and his team created their own version. And maybe Steem Engine will go far beyond what official SMT's will be capable of. I hear Steem Engine will become like decentralized NASDAQ.
Yep, it is a pretty interesting model forming.
My blocktrades transaction finally went through today, I bought some more Steem and traded them to PAL. Now I have over 37000 PAL staked. I hope they will reach the sell wall of 1 STEEM pretty soon. Excited to see where it all goes.
You really did get it!
Thank you!
Posted using Partiko Android
Oh, that is a lot :D I didn't know you were buying up so much but it is going to be an interesting ride I believe.
I think I'm currently 5th biggest holder of PAL on palnet.
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That is great and with the 50/50 split you should be able to grow significantly while still helping others grow significantly. That is the way it should be.
Yes, by the way, if my vote is worth 2 PAL and this is 50/50 split, it doesn't mean I will get 1 PAL back, does it? It means this 1 PAL will be divided among curators. Am I right?
At the moment, I think they are trying to sort out the algos and UI for decimals so I am not sure if it is calculating properly but, teething problems happen - even if STINC aren't involved ;D
Do you have a feeling that aggroed is the new ned we've all been waiting for?
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In some ways, but at the same time the distinction should be made that it isn't Stinc yet still is part of a private business model. It is good for Steem if people stop looking for a Ned and start supporting and creating many Neds :) Everyone likes leaders, they also like to hate leaders - but it is the support they get that makes or breaks them.
lets say that you are the only voter on a post (to remove the curation algorithms) then yes, you would get 1 PAL back (as long as voting after the 15 minutes).
Should be true when upvoting most of the comments.
Posted using Partiko Android
yep. So this means that some people will upvote comments over posts if late.
As much as I enjoy the last few days powering up more PAL, I really can't understand with all the hype going on why people are selling at all? There is a huge sell wall at 1 STEEM (over 12M PAL). It's clear this thing is designed to get this valuation right from the beginning.
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Yep, and I think that it will slowly get chipped away at over time but it also means that the early distribution will be cheaper as very few are going to try and breach that wall.
This means that when Steem rises, PAL will rise together with it...
Posted using Partiko Android
I see this SMT use case as an experiment and opportunity.
Posted using Partiko Android
Yep, and it is going to inspire more experiments and therefore, opportunities.
I am staking any palcoin I get for now. I'm letting that economy marinate until the price begins to bring tingles to my feet.
Good to hear and I hope it marinates well and long in time for crypto bull bandwagoners.
Then the fun would start.
Interesting link Aggroed shared - https://steem-engine.rocks/tokens/PAL/richlist - Very happy to be in the top 50.
You can drop in any Steem-engine token to check your ranking.
muhahahhaa
@acidyo ;D
That is cool, thanks Matt :)
top 50 is awesome. Btw, you are #224 on steem currently.
That's great. I was 212 I think last time I checked. I thought maybe I'd have climbed into the top 200 with all the FUD about whales powering down, etc.
I'd like to get bumped out of the top 500 :)
I just made it into the top 400 so you have a long way to get bumped. I keep getting knocked out. It is interesting to see how many accounts are dead or "early 2016" up there.
I feel blessed by the PAL claimdrop and the opportunity to buy PAL at a low price. When I saw what was going on, I was excited to jump on the bandwagon.
I agree that distribution seems to be more evenly spread out. I am also intrigued by the screenshots you showed in this post. I noticed that my PAL votes often are higher up the list than my Steem votes.
But unless there are a lot of people being onboarded via PAL, those in the know about Steem are most likely to have the early adopter advantage.
I guess that is the opportunity made available to the people at the right place at the right time.
of course the early in have first mover advantage but, in comparison to thise already on steem, the smaller accounts are likely more active than the larger meaning they can have an opportunity to change their experience on both PAL and Steem.
Good point. This is a game changer for a lot of people, myself included. I almost consider this my Steem 2.0 experience. Because of my prior Steem knowledge/experience, I feel more comfortable making moves. I wonder how many more iterations we will all be able to experience as we continue to see progress?
At the writing of this comment, I am in 39th position on the list of PAL richlist. That is a insane thought!
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I upvoted your contribution because to my mind your post is at least 15 SBD worth and should receive 279 votes. It's now up to the lovely Steemit community to make this come true.
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I am loving the development of PalNet. I think it shows how content creators can be much more fairly rewarded and discovered. Agree about the sense of entitlement. People need good content not just content.
It is an opportunity but I will make a call and say that in the futre, there are likely to be many of the same people holding PAL that hold Steem.
Yes. Agree. But thats the same in real life ;-) Not sure why people keep expecting block chain distributions to reflect anything other than the reality of real world financial distributions . I would hope that from a content perspective the quality and discovery tools are better. Lets see!
While I don't expect different, I hope that there is enough examples here to learn from for those who aren't able to in the real world. Who knows, if it will be better but at least there is variation to experiment with.
Yes. Glad to see it finally happening after all the talk.
It's interesting to see a comparative list between PAL/STEEM upvotes, I think I'll save some PAL for myself in case it moons. I already see PALNET.io being a big platform in the future and might result in other Token driven platforms to emerge.
I'll wait for the one for #gaming to appear!
There are going to be many and likely some quite different experiences across the platforms. Who knows how creative the future users will be when not tied to the past experiences.