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RE: Steem Works: A Funding Mechanism for a Worker Proposal System
I agree with you and I'm a whale. You got to be really shortsighted to not see the value in using some of the inflation to fund developement.
The claim that re-allocating this money will hurt investors is again very narrow minded.
Funding is key, it's what make or break a project. A funding mechanism would add incredible value to the steem blockchain. Besides, most crypto don't pay 'dividends' at all so steem would still rewards its investors far greater than other cryptos via curation rewards.
Your idea was discussed way back then already https://steemit.com/steemit/@trafalgar/a-problem-in-the-economics-of-steemit
@peaceandlove Are you an early investor in Steemit? I am really interested in increasing my Steem Power, but I find that solely by posting content alone, it is really hard to do so. Would you suggest us investing our own cash by purchasing STEEM to increase our SP?
This already exists. Anyone can propose any project and receive funding from the voting consensus of every other invested user. This has been done since the blockchain began. Why do we need to create it again?
If we don’t like the inflation for holding SP or its results, then get rid of it. There’s no need to add more complexity to the system by creating another separate allocation/consensus mechanism. Steem is already complex and complicated enough as it is.
Because a solid project usually needs a lot more than a couple hundred bucks.
Are there any “solid projects” that exist on Steem today?
I agree with you regards friend if you can visit my blog and vote I would appreciate it
Big Thumbs Up to that.
Money is the least important when it comes to making a good project, you need more head than money.
I have to agree with you @peaceandlove ... No one is going to give away or burn their own money - but you have to spend money to make money. Investors and Steemit alike must now leverage their liquidity to benefit the overall Steem economy and this is critical. If you could spend 10-20% of your steem and impact the steem price by 100%+ you definitely should do that!
20-30 extremely wealthy busy people probably are not the right people to be distributing this liquidity so I think increasing Worker proposal funding warrants a good examination.
Right now I think @steemit INC and all of the whales and investors of this platform are in mortal peril! The threat I perceive is this : If someone was to clone the Steem blockchain and sharedrop to every Steem user their regular holdings, except morph the Steemit/whale accounts into worker proposal accounts Steemit could lose alot of its DEV/Content/Author community. Then the Community fund could continue to grow and spend only its interest on worker proposals.
Its important to note that our chain has the least buying pressure from mining cartels and this might be a significant factor in our exposure. Of course if giant mining cartels cant get in they're going to resort to FUD.
@ats-david Im not sure if you're trolling or what - The possibility that the overall steem economy could get a boost or a ROI from steem inflation is real.
We already have inflation. The worker proposal system is completely unnecessary, however. How would it work? People submit proposals, then a group of people vote based on how they want the pool allocated, then at the end of the voting period, the money is distributed?
We already have this system. It's called "blogging."
This kind of proposal system is needed on blockchains like Dash or SmartCash because they're proof-of-work blockchains without the kind of stake-weighted voting that we have here on Steem/Steemit to allocate/distribute rewards. It serves no real function here on Steem that doesn't already exist. If you want to fund worker proposals, all you need to do is create a group/community where you can share your ideas and vote on them.
In fact, this has already been happening since the Steem blockchain was launched. Worthwhile projects are already being funded via blog post rewards from announcements and updates, and even donations from various users. The only thing a worker proposal system would accomplish is reserving dedicated funds for projects...which would just add another rewards pool to the ones that already exist. It just adds complexity and complications to an already complex and complicated system - and would likely just lead to another avenue of abuse and waste, like funneling money into worthless Facebook advertisements to bought/fake followers of certain "influencers" around here.
As I said in another comment - if there is a serious concern about inflation going to whale accounts, then propose reducing or eliminating the inflation. That would have a bigger impact than creating a redundant pool and system for allocating/distributing funds.
And no...this isn't "trolling." I don't think that word means what you think it means.