About The Delegation Trust Committee:
I've just attended the meeting for the delegation trust committee in MSP-Waves. Hosted by:
They are current members of the Delegation Trust Committee.
If you don't know who and what the delegation committee is I recommend you catch up by reading the posts on this account - @delegationtrust
I have to make a couple of disclaimers on this post:
A - I do not see SteemIt, Inc's stake as community stake I think it belongs to them and they should use it. I think the focus on SteemIt Inc and their stake has a highly negative impact on Steem.
B - I think all three members of the committee are quality members of the community who have a track record of building, working and participating in the Steem Economy.
C - Discussing this topic at all is perhaps irresponsible because it perpetuates one of the worst dynamics of Steem in that people assume Steem equals Steemit.
Having carefully thought about those issues I am going to make this post regardless because the team asked for feedback.
Regarding the direction of the committee on "Successful Businesses" getting the delegations and the focus on "Profits".
ONBOARDING THE MASSES
Steemit, Inc has stated repeatedly now that onboarding the masses is their number 1 goal. Since the delegations are provided with their stake, it seems like it should be used to forward their own goal. If that is truely their number 1 goal most of their resources should be funneled to achieving that goal. Anything else seems like a huge disconnect.
Seems like their stake should support attracting the masses and supporting them when they get here.
Commonly Discussed Barriers to Entry:
Account Creation and Funding: Still slow and ineffective
RC Credits: Allowing new users to transact
Low-Quality User Interfaces
Visibility in the MarketSpace
Ease of Use and User Experience
Lack of Trustworthy Support Operations
One could make a strong case that routing SteemIt Inc's funds to supporting those endeavors would be a great use of funds and highly unlikely to see profits in the near future.
KNOW YOUR MARKET SPACE
Cryptocurrencies in general, are an emerging technology and are extremely young. Many blockchains have the ability to build apps and promote them. They have not had a lot of success with acquiring users and traffic.
We have the means and the history to prove we can onboard the general public with no exposure to cryptocurrencies, which is a goal other projects are still trying to accomplish. WE ARE AHEAD.
The success of SteemMonsters and other Apps on Steem can be traced directly back to our community, not the apps themselves.
As demonstrated by the weak response from Splinterlands debut on Tron. As well as the lackluster use of ETH, EOS, and NEO apps.
We are giving up a Market Advantage by routing SteemIt, Inc's fund to "Successful Businesses" instead of growing the community.
THE ENTIRE PROCESS DISCUSSION IS FOCUSED ON THE PROCESS AND NOT THE RESULTS
Most disappointing in all of the discussion is the lack of Business Metrics by those who love to say the word Business.
How are the current delegations being used? (math and charts here)
Who are they benefiting? (Math and Charts here)
**What will be the real-life financial impact on our current community and businesses by removing and reducing the current delegations? **
These funds are already in the community and supporting real end-users and businesses, don't you think you should evaluate that instead of your questions?
The committee has made zero attempt to understand the benefit and costs of the current delegations that I have seen. Making a great PROCESS without any real metrics is extremely risky. The impact of your decisions should be reviewed and considered before taking any action based on a process.
Steem is currently operating in an ALT-Coin depression, while I know everyone is frustrated and wants to see that turn around it seems like a terrible time to put a bunch of regulations on a struggling economy. And that is what you are doing Re-enacting Government Control methods, by trying to enforce some arbitrary standards without regard to whether or not they will take a bad situation and make it worse.
Seriously though stop talking about legally binding contracts it doesn't make any sense. Legal in what country and enforceable by whom?
I respect each member of the team and SteemIt's right to use their stake and have it managed by whomever they wish.
This is an opinion post and I do not pretend there is a right and wrong in this situation. You asked for feedback and this is mine. I support whatever direction you decide to go and hope you are successful.
Thanks for this. Reading with interest will reply soon
Cool and thank you for the great response. I need to read and consider.
Using Steem is too complicated, nevermind signing up for it. Temporary and lite accounts will be great.
It seems like we are creating more problems than we are solving.
I can't think of a dapp or community that has really on boarded a ton of people. It seems to me more that it just encouraged alt accounts or interest faded quickly. Maybe there is data to prove me wrong.
They should not be afraid to let projects that are mismanaged or not reaching their targets die quickly.
The people deciding delegations are ubder tremendous pressure. I hope they don't just feel obligated to choose what is popular with people already on Steem.
That being said I am hopeful for the future and expect to see great new ideas coming.
I think the most important point here is that this really shouldn't be discussed by the community at all.
It is SteemIt Inc's stake and having public forums for the entire community just perpetuates the idea that the community should be given a voice.
The best answer they could give me would be... Mind your own business. :)
Right! I see them as the largest whale (with one of the crappiest front end UIs) and just wanting to protect their investment by leading with BC development and organizing the community.
This is sort of the point of Steem and expected. However, the people who think they are owed something, or believe Steemit must do this are fooling themselves.
As Adam Smith said ...it's not from the benevolence of the butcher ...
Love to see the discussions around this as it surely presents the opportunity to really get us thinking towards the New Steem concept and how to promote engagement and growth once again. One positive side of less people engaged is that it leaves only passionate here to move it all forward.
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I agree we are down to those who take it seriously
Well sorta 🤗
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"We have the means and the history to prove we can onboard the general public with no exposure to cryptocurrencies, which is a goal other projects are still trying to accomplish. WE ARE AHEAD."
Truth. I was part of the general public. I didn't know anything about crypto. I heard that I could earn money posting on a young platform and thought "hey I have a laptop and some questionable opinions to share." The rest is history lol.
"Steem is currently operating in an ALT-Coin depression, while I know everyone is frustrated and wants to see that turn around it seems like a terrible time to put a bunch of regulations on a struggling economy."
Plus regulation is kind of what a lot of the crypto crowd is inspiring to escape. It seems like it might scare off potential adopters. That being said, I still don't really know much about cryptocurrency despite having almost two years on this site so I could be way off base.
I have to agree with all you said. As I have said over and over " Don't try to make it so fucking hard(smart) that regular people( THE MASSES) will be turned off by using steemit."
The same conversations have been floating around for over a year and more...
I also agree there is alot of stress on Steemit Inc to bend to what the community thinks is 'right'..the problem is even within the community there is no real consensus.. from content to how things should run, dapps and smts...bla bla bla
There are some good things coming down the line and that have already be in effect. I will always #SteemOn
RESPECT for sharing your thoughts.
Good points, and I could not possibly agree more that the focus ought to be on onboarding the masses and improving user growth and retention on Steem. Having completed quite a few applications for public funding (I know you hate those, but they are common in Norway lol) on behalf of StartUps, as well as helping improve two pitch decks to early investors, I find some of the most crucial questions always asked in those applications/decks missing:
Who are your first users?
What's your plan to reach them, test if your value proposition resonates with them and that they are indeed willing to pay for your service?
And then, how will you grow from your first early users to capture an early majority?
This is so much more important than more down-the-line "extras" such as whether or not your app offers features that burns STEEM, which makes literally 0 positive impact until you have a large userbase and stake going towards your users.
Yeah, actually I'm very much in alignment with the point of view that the target should be user growth and retention, and that the talk about burns really is on the side. It's not clear from the discussions what is being prioritized, and that is valid feedback. We've laid out a basic framework though, and there's a lot of room within it.
The next step is the rubric, though, and these points will be made much clearer then.
Sounds good! My intention here is not to criticize (I think the committee has done an overall very solid job), but more to emphasize that this is an opportunity to help projects move in a better direction. As I said a few times during the discussions in response to the question "why do businesses that are already sustainable need a delegation", the point is to improve the impact of work that has extra positive impact for Steem, and user growth and retention should be number 1 on that list.
I’m still waiting to hear how much of STINC’s stake will be allocated for delegation. Estimates are fine. They have yet to answer, as far as I know. I’ve asked repeatedly.
It's not something we discussed in full yet, but there was already preliminary guidance from Steemit that the overall amounts will not be changing much. But it all depends what kinds of projects are put forth and how the existing projects are decided.
I think there is currently 18 million at play.
Very interesting what you raise in your argument. I don't know if it can be viable or have already thought about it, to create as a welcome committee and guide the new ones in steem to take them hand in hand in this world to create participation and keep them encouraged to stay with us and not give up.
If the force is in the massification and in growing steem with more users, then why not wait for them with a welcome committee to guide them and guide them, that is, those of us who are already taking a group and directing them without abandon them
It may be that a unique space of education, information and motivation is created where the bonds of friendship and union based on good energy are strengthened. Maybe you can create a human value chain that strengthens steem growth.
For new investors, being able to look at a solid and constant community would offer greater investment security, as it would be backed by a lively and strong community.
Finally, I do not handle much of financial concepts, but I am motivated and stand firm in the faith in a project, such as steem of which I still fall in love.
Good vibes, dear @whatsup
There are projects doing this. @welcomewagon, @steemterminal, @steemonboarding, @steemsavvy are some that come immediately to mind. The challenge is to find the newbie willing to be taught and stay active through the process.
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We are ( thanx @shadowspub for the mention ) welcoming new people who enter the platform and invite them to discord for further free help to let the RC in tact for the real steeming instead off the question asking , in discord it’s free, with other like minded just starting steemians guided by a few of us that have been here longer
I'm sure ShadowsPIB appreciates your thanks LOL
Oh dear lord sorry I try to be quick
Yes, we have so many who love Steem, it's challenging to figure out how to handle that.
Hi, @whatsup!
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