My Vision for Steem - staring back from the pool

This seems to be a thing going around driven by I think, @llfarms and @whatsup that people are doing, and this is perhaps going to be a surprisingly - relatively short post. Maybe. But no promises.

I don't have a vision for Steem, I am one person with not too much stake and, a voice that isn't going to change the Steem world -

I have a vision of Steem.

Steem is both the blockchain and the currency associated and for now, let's forget about SBD as, it is failing miserably to do what it was tasked with doing which was, be stable. The idea was good, the execution had a bit to be desired or perhaps, it was entered into too early.

So, Steem.

As I see it?

Well it is pretty easy really, Steem is a protocol that is designed to deliver digital content. That is it. Not very visionary. However, the currency associated creates Resource credits (the bandwidth to use the protocol) and the bandwidth is only available when Steem is powered up. What this means in my view is that eventually, all Steem is going to be required to be powered up in order to provide the bandwidth for users.

All Steem.

Well, most anyway. There will still be buyers and sellers as people will sell out and move on or need the cash but, buyers will buy and power it up, not speculate much on it. The reason is that Steem will be the holder coin and the inflatioary pool that will eventually reach 1% a year and be pumping out about 6 million Steem a year in the pool at that point (in about 15 years) will be distributed to the holders and those willing to buy. Yep... you have worked out what that means?

No more votes from the pool.

But, that doesn't mean contributors don't earn, they will earn more. That is why there are SMTs and applications as they will be powered and stabilized by Steem, the protocol - not the currency. Not directly at least. SMTs can create their distribution, functions, payout windows, use cases and a whole lot of other factors including KYC if they want, however they want. That is the power of SMTs, freedom and all they require, is a little bit of Steem for bandwidth and, that Steem can come through delegation but not directly... through Resource credits.

Rather than taking votes, the SMT applications will pay tokens for bandwidth so they can empower and engage their users with their own SMT experiences. individual and groups of websites interacting independently upon the protocol that is Steem.

As I see the future when I look at Steem, it is heading in the direction where Steem is the place for holders and investors, SMT applications for contributors and earners. For those powering up now, they can choose to stake in for the long term or sell, for those who want to only sell, they can sell SMTs that they earn on applications like @steemhunt and @partiko.

I see Steem as a layer of the internet that allows for any application to build upon it and add a tokenized economy without needing to buy into Steem at all. All they do need is to make an engaging use case for users and empower them with tokens and invest some of their own tokens into covering the costs of electricity, the bandwidth they need. There are many ways to do this.

What is interesting is that people don't mind paying for their internet costs, paying a subscription to Netflix, paying a fee on a trade, paying for a mobile app ... but buy Steem? Fuck no. This will change as Steem currency scarcity begins through application use causing the Steem protocol to spread.

I think it will. I am staking up.

This is how I see Steem but, in a decentralized community that is stake based, I have very little influence over if this is what happens, it is all up to the community. The conditions that Steem faces now is up to the community too and what I find the most interesting is that while people are unhappy with the status quo, they are frightened to change it.

What I find great is how seriously people take all of this because, it is serious. A lot of fun too, but the processes that are ongoing are quite different to what has happened before as they are happening at scale across a very diverse group of people and backgrounds. This is why I think it is very important to trial and error as much as we can to see if we can find solutions to problems that have escaped humanity for thousands of years.

You might want your 30 silver, some people want a new world. You don't need to see it. This is my vision of Steem. I don't mind being wrong.

Now, what is your vision?

Taraz
[ a Steem original ]