Are we prepared?
The bottleneck for Steem last bull run was account creation; people sometimes waiting many months to get an account.
If we look at EOS, they have a similar problem in that app developers were having a hard time getting the resources they need and moved to markets like Chintai which have helped. Chintai is a token leasing platform that allows EOS hodlers to lease their tokens in exchange for passive income.
Now, incoming is REX (https://github.com/EOSIO/eosio.contracts/releases), which takes the ability to lease to the next level by allowing EOS hodlers to lease the resources their tokens provide without actually have to lease the token itself. This creates improved resource liquidity and provides extra passive income for token holders.
Now, let's look at Steem. The bottleneck was account creation. The solution I have in mind is building our REX on Steem, where token holders can lease their RC's (resource credits) to apps creating a nice liquid resource market. Also, an improvement to the wallet that allows for easy new account creation via RC's, showing the number of RCs you have available AND what you are allowed to do with them.
I believe no resource credits should ever go to waste. RC's refill and can be consistently used to create new Steem accounts. We should be creating as many new accounts as possible, so we're ready for the next big bull run. Every new account matters and if we make it easy for Steemians, big & small (even if the Steemian has just enough extra RCs to create a free account each week) that is better than nothing.
Yes - an RC 'delegation' or 'lease' market has been suggested by a few on Steem - and I hope it becomes a reality. There's many projects that don't need to upvote content but do need RC's to function properly (think of all the gambling apps ;-)) and now all we can do to provide them with RC's is delegating Steem Power... Of which they waste the VP, and you as a delegator miss out on Upvote Value. Shame.
I'm claiming 1 account with my RC's every 3 days I believe, it's terribly 'expensive' as I'm not the smallest account around and still can claim only 2-3 accounts a week. I'd love to delegate my RC's to a pool instead and let the projects that onboard people use my RC 'power' for that.
I'm not sure of an RC delegation market would require consensus - if not, I hope to hear what developers need to make it happen <3
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:* If Steem had an epic search function or search.esteem.app was functioning right now I'd dig up an article or two from your account.
I am just glad that people sometimes read them and get something out of what I put into them. I think each day, more users are learning how the platform works and what is possible in the future - it takes time though - but we are getting there.
Yeah I’m claiming 3 accounts a week as well currently. Hoping to utilize them to onboard in my store or at shops eventually.
Should this be RC donation instead of delegation? Because unlike SP, once RC is used its gone, you can't undelegate the RC and use it yourself
There is an issue open on the Steem github repo (my apologies for not posting the link, i'm on mobile at the moment) about creating RC delegation pools. This would allow RCs to be delegated separately from SP and delegated to a pool that multiple accounts can subscribe to and use as needed rather than having to constantly manage how many RCs are delegated to each specific account.
I think this is a really really important addition to Steem and I hope to see it implemented sooner rather than later.
I agree, glad to know the issue is open on the Steem github repo. If the changes require a HF, would be nice to try to tie it in with the upcoming HF for the Steem DAO.
Are you saying we can already specifically delegate RC?
well said...thanks! i waited almost a month...for my steem account back in january of 2018. others waited longer. i would happily lease my extra RC's for this endeavor! let's get ready!
I completely agree with you Dan, it is one of the major bottlenecks and needs to be looked after asap otherwise we will miss out on some many potential users of the platform
How many RC are needed to acquire a free account? I would also agree it needs to be easy to claim thise accounts so small steemians like myself could claim them. Another resource to HODL for when needed.
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It takes 7,922,585,402,047 RC to create.... I think that's around 4000 Steem Power... that's according to this utility: https://codebull.github.io/AccountCreate/
Unfortunately, a lot of RC's are needed to claim an account. Here you can see the RC costs for several operations: https://beempy.com/resource_costs
In practice this means if I have 7000 'active' SP in my account and claim one, currently that costs me about 60% Resource Credits. So about 4200 SP, but to be safe and not make your account unusable, 5000 SP is a safe amount to start claiming accounts.
But, due to several factors, the 'cost' of an account can change daily, the above is what I observed to be the 'cost' the past few weeks.
So definitely not for small accounts.
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Indeed - there's a huge gap between the accounts that need RC (with 100-200 SP you can do a lot on the Steem Blockchain already) and that can give something valuable with their RC. That's why a RC delegation market would be awesome, because also smaller accounts could delegate some 'surplus' RC even though they might not have enough to claim accounts and such.
It would be nice to delegate RC that I do not need for day to day STEEM activities.
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yap, don't really checking but i think my rc was never under 80% if even that. and i am to far away from being able to create an acc. now thinking, delegation of RC could also help new acc, as someone would be able to delegate it to them without giving up Sp
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This bothers me more than anything. I understand that not everyone has enough time in their hands to manually use up the RC, but there are many ways to use up RC passively.
I like this idea.
If there was a service made in a way that a specific amount of current RC would be dedicated to making accounts that can be made readily available on signing up then I would 100% allocate my credits there.
Great idea @Theycallmedan. Fixing this will in a great way make resource another hot and viable component of the bockchain. Beyond the liquid and staked steem, the ability for every RC holder to share them in account creation operations will open up steem for another massive enrolment.
Great Idea.
Karma an app built on the eos blockchain actually suffered something similar a while back, users were complaining of not able to perform activities due to their low staked cpu and net, it seems they later found a way around it.
The above should come really useful not just for account creation but to users who are not able to perform or limited to the amount of transactions they can perform daily.
I once saw a user who was unable to edit a steemhunt post after he found a mistake with the post, this was caused by low RC.
The above sure looks and sound nice, hope the next update will have something similar
I totally concur with this forward thinking, RC should be able to be delegated for returns and every steemian should know what they can do with their RC including account creation how tos
Bottle Necks... Account Creation, Curation and Training..
For the record I have account tokens if anyone needs them. But that just doesn't scale very well. As I have to create the account, send the info and beg the new owner to change the password. Not easy for a noob.
Ya, if we can fix the part where we can just send a invite link where you input the name you want, the enter and it shows the keys. That way the person has the input the name first before seeing the keys. Could simply not accept an account unless you input the name yourself.
I have an app for that :-)
https://freeaccounts.dpoll.xyz/
https://steemit.com/steem/@emrebeyler/steem-santa-is-here-free-steem-accounts-for-your-family-and-friends
Basically, it's an app that works with gift codes, where you pass them to the potential account owner and they pick a username. And the system creates random strong passwords for them.
It's open-source and everyone can use it. However, it requires tech knowledge to setup/deploy this thing. Maybe I should find a solution for that.