First of all, let's burn some SBD in a smart way!
Pipes is an initiative where @tibonova will concentrate on things that he thinks is good for the Steem network. 90% of the post rewards will be shared back to the community.
Recently, I've read the Steem White Paper, so I'm more confident about doing things now. I did it because I want less potential errors in my future proposals/ideas. Here is one that I was thinking about around Christmas.
Burn Some SBD
As you may know, SBD is debt. It's the acronym of Steem Based Dollar, but it could be easily associated with Steem Based Debt, too.
It's not the enemy, though. I want to state this before you could start thinking that I'm against it. We need a stable currency next to STEEM, and SBD is good for that now.
We need SBD, but we don't need much until we won't have active marketplaces, merchants who accept it. We need it for now to show it as an opportunity, and also give the option for the authors to keep value in a stable currency. But debt is debt, and if it won't generate more value than it costs, we need less of it.
SBD burning is a common good. When someone burns a dollar, the value of that dollar spreads among the SBD holders. If the price of SBD is rising above 1$, witnesses can lower the APR (so the burden of the network). The system can print new SBD when it's needed.
Steam for Steem
I offer this option you as a last thing after upvoting/downvoting authors. When you have remaining voting power and you don't want to give that for others for any reason (inactivity does similar), you could vote for a Steam for Steem post.
How It Works
- On every day, I will make a Steam for Steem post.
- Users voting as they see fit. The account collecting SteemPower after the posts. (100% SteemPower rewards option)
- The account is Powering Down continuously, every week. I'll exchange 90% of the Steem to SBD.
- I'll use all the SBD to Promote contents.
Post promotion uses the @null account to burn SBD. This way, we don't just burn SBD with all the good effects of it but give the authors better visibility, and maybe generate more demand for Promotion.
I want to bring some gamification and uncertainty (luck) to this.
- I'll divide the weekly SBD amount (from the power down) by 100.
- Randomly go to the Promotion tab at Steemit, and start promoting the first post in the list that I don't promoted already.
- The amount of the promotion is a random number between 0 and 100 percent multiplied by 1/100 part of the weekly promotion fund
- I'll also upvote the post using the random percent as a weight (I'll use 100% when I don't have enough SP to set a weight, and I'll upvote without promotion until the first power down.)
Users, who thinks these upvotes are good ways to incentivize authors to promote their own posts, could follow the votes of this account by an autovoting service, and they even could delegate voting power to this account after the next hardfork of Steem.
If I don't use up the whole weekly funds, it will be in the next week's funds.
As you have seen that 90% of the post earnings of @pipes will be shared back. At every power down, I'll use the remaining 10% as a reward for my efforts. To be sure it's not a hit and run, I'll power up all of it to my account. You can see from my accounts' histories that I only withdraw my earnings from the network when I absolutely need to (that has never happened, but surely it will, especially if I continue my plan to dedicate my time to the Steem network). I'll also power up the curation rewards (if any), and may vote for my own posts, too.
I've learned that one of the main foundations of Steem is that it wants to reward the users for even the smallest things that they do for the network. In the past I did many things for many people just to learn that how easily the world abuses my good intentions and leave me after the last drop. That's why you can see that I'm seeking ways to be compensated after my work, so I could invest more and more time into this network. Ideally, I'll reach a point when I earn enough for my bread and butter, and there will be no turning back from there, I'll be steeming full time. I'll contribute as much as I can even if my plan fails.
EDIT (I've written it in a daily post, but I also copy-paste here)
Updates on My Rewards
As I've stated originally, Pipes uses 90% of their funds to promote posts and 10% of it as a reward for me (@tibonova) in a way of Power Up. I, however, decided to don't take out any amount until Pipes has enough funds to work continuously, without lacking of funds.
I want to add to this, that any SBD you send to Pipes, will strictly used for promotion, never sending part of it to me, and never convert it to Power Up Pipes.
Since I'm openly against curation rewards, I won't send it to my personal account but Power Up to Pipes (if any, because I'll never take the rules of curation rewards into account when Pipes votes).
That means, my real rewards will be a way below 10%. I'm OK with that, I want to be fair and true to myself at the same time.
Follow Pipes for More
If you are interested in this idea, follow @pipes. I'll share the first Steam for Steem post there soon.
≋ Follow, like, comment, reblog, share or PM me – the power is yours from now! ≋
You could Send Me STEEM/SBD, or Buy Me a Coffee by fiat if you wish, however, any level and type of support is optional and fully voluntary. ♥