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RE: Fixing a Problem in the Economics of Steemit
Yes, we both agree that the 15% isn't doing much, and I doubt even whales really care about a 1.5% yearly interest on something so volatile
I am skeptical that a decentralized development team can truly compete with the social media giants without an ongoing fund. Perhaps if they were committed to opening show where the funds are going? I guess if you're not persuaded by the reasons I gave in the article, you won't be here.
I'm definitely for using the 15% any other way, including putting it all to rewards. The 5% to the developers was a gesture of community support and that they need not fear using their current account liberally even if the prices are relatively low. But honestly, anything is better than a tiny interest payment to all SP.
Disclaimer: I am a decentralize-everything kind of person.
I presume you also are pro-decentralization otherwise you would not be using the Steem blockchain.
Only relying on @Steemit for all the development for the ecosystem is a centralized move and a risky one at that regardless of whether @Steemit is trustworthy or not. Mistakes are just as likely as bad intentions.
With regards to transparency and funds management by 3rd party developers, I suggest development in small steps and separate posts for each step. I plan to do a more comprehensive post on this later on.
Well I still think the 15% going into paying the 1.5% yearly interest on SP is a waste, we may not agree on how to spend that 15%, but it shouldn't be diffused to the point of worthlessness