The STEEM Ecosystem: Is the allocation of Delegate STEEM Power to the Technicals being made at the expense of the Commercials and Monetization of the Ecosystem? 5 Minute Short Video. (Apologises for the wind noise).

in steemit •  3 months ago

The #STEEM Ecosystem - Technicals vs Commercials

Allocation of Delegate #STEEM Power

A few days ago I shared with you a video explaining my concerns and worries about the weighting of the Delegated #STEEM Power on the Technicals.

For the ones that may have missed it, here is the video from last week.

Two years on Steemit and why I am confident that STEEM will hit $17.50 in H2 / 2018. Hopefully this video won't see me thrown into the "Hate Bin"..!! haha haha

Not landed in the "Hate Bin"..!!

As the video appears not to have landed me in the "Hate Bin" and was in fact to have appeared to have been met with support, I have decided to explain further my concerns and worries.

Thinking with the "Bad Boys" on..!!

As I was out earlier today walking, I was doing a lot of thinking and decided to stop and make this short video.

Once again, before anyone decides to jump down my throat and rip my head off for bringing this problem up, I am simply doing it out of the passion I have to want to see the #STEEM Ecosystem succeed and prosper.

Allocation of Delegate #STEEM Power

In the video I try and explain my worries and concerns that the allocation of Delegate #STEEM Power that has been made to the Technicals may in fact be having a detriment impact on the Commercials and the monetization of the #STEEM Ecosystem.

Should my fears be true and what I am saying is right, then all I am trying to do is bring the problem to the surface for people to discuss.

Below is a simple flow diagram to think about.

Blog.png

As I have said in the past, I am either 100% right or I am 100% wrong.

If I am 100% wrong, then I wholeheartedly apologise if I have upset or offended anyone.

If I am 100% right, then I strongly believe that the problem needs to be identified in order for a solution to be looked at.

I hope the sound in the video is OK and I apologises for the wind noise.

Hopefully this video doesn't see me get thrown into the "Hate Bin"..!! hahaha

Thanks again for reading, watching and listening to my concerns and worries.

Stephen

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Good video Stephen. For me, as a business developer and economist, I wonder how so many crypto-projects (not just on Steem) can justify their market cap when there is no real business model behind them.

I think the ruthless correction we are seeing atm has a lot to do with the air flowing out of projects that have very little adoption and near no ability to pay dividends to stakeholders aside from printing them more tokens which again have no value as long as the two above fails.

I think we need to demand more of a public strategy from DApps on their business models and ideas to create revenue streams that can pay dividends to stakeholders (whether it be to SP holders who delegates to them, or to those who invest in their SMT in the future). This, we could then have an open project similar to utopian to reward contributions made to give new ideas to their business models, test their assumptions, market their product and engage with their customers/users.

I would be more than happy to support such a project on Steem and would also love to be a first user with @steempress.

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Thanks Fredrikaa. These last 7 weeks has completely opened my eyes since I launched #steemtalent. I am getting so much feedback from the real World it's unbelievable. What worries me, and this comes from +30 yrs experience with a Commercial and Technical background, is that STEEM runs the risk of being so powerful and technically brilliant, that it's just too powerful. I guess what I am trying to say is if to much attention is focused on building a powerful system, it will be a bit like handing out bunches of keys for a load of Ferraris to people who can't even drive..!! If STEEM is not careful it could end up simply being too complicated. I learnt something a very long time ago that I strongly believe in. That is, give the market what IT WANTS, not what you think IT WANTS..!! Thanks for the comment. I appreciate it. Stephen

Those are some great insights @Stephenkendal, as always!

Proper wealth distribution is indeed a concern whether in real life, and even in crypto systems, Steem, and Steem-based dapps.

As you might be aware, 6 weeks ago I've launched my own dapp (@actifit) which aims to reward fitness activity (such as your walk with those bad boys - which could earn steem upvote and AFIT tokens :) ), with this we are attempting to reward any eligible physical daily activity and incentivise people to get more healthy and active.

I believe this approach could help spread wealth somehow in a consistent manner, yet still we do need proper delegations to be able to fund those upvotes to give steem (just to give you some numbers, we are rewarding/upvoting around 160 posts a day, with around 100K SP in delegation), which we are paying back with 5% beneficiary pays and lucrative amount of AFIT tokens as well. Until SMTs are properly released, delegations are one of the key foundations of rewarding in Steem, in addition to our tokens, and we need to ensure it is tempting enough for delegators.

Oh and would love some day to see you trying out your bad boys with Actifit app :)

You are right Stephen, we have so concentrated in edifying the system and communities within with little efforts to taking #steem to the outside world. I wish 1 million #steemit users + will make at least a daily promo of steem on other platforms, then #steem will grow.
Your efforts are great!

I wish steem hits $17. It will be happiest for steemians.

How much time it will take to hit $17 ??

I made a significant investment into STEEM last fall around 88 cents and was greatly rewarded. I think today there is another fantastic buying opportunity for us Steemians. There was a nice Bitcoin short squeeze which jumped the price up above $6,400 just a little while ago.

I think All steemit members wish $17 hits...i hope it will be soon...such a great video.....