You are viewing a single comment's thread from:
RE: Is SteemPower Useful for Other Blockchain Apps?
I see Steem Power as what separates the Steem blockchain from other crypto tokens. Apps that want a Proof-of-Stake style voting system with an integrated incentive to vote (curation) will be drawn to Steem instead of the hundreds of other tokens.
Except theres no reason to believe they would want this sort of voting system, and even if they did, they would want proof of stake in their app, not steemit. Why would someone elses project reward SP holders with influence, they would want to reward stake holders in THEIR app with influence.
The rest of the comment is circular logic. It will become popular because people want it and people will want it because its popular.
It's hard to reward people if your token has no value, and despite the current fall of the STEEM price, the token is still rank #15 in terms of Market Cap. If you create you own token you will not likely get anywhere near that value (ask the 690 tokens below Steem) and therefore will not be able to distribute meaningful rewards.
I think you are missing my logic. The app developers are already working and Steemit itself is still actively in development. I think our turning point will be the roll out of communities which is what will bring order to the current stream of posts (subreddits were a crucial part of Reddit's success). The increased popularity/adoption will be driven by platform/apps improvements, I may have lead you to believe that it would magically appear (poor writing skills ... I'm an engineer).
I do believe the balancing needs some tweaking in the rewards/influence curves, but these are refinements, not a change of the current system.