A STINC alternative in Steem blockchain to decentralize the power and improve the image of Steem!
With upcoming hf21, Steem (Worker) Proposal System (SPS) will have 10% of the Steem inflation. It means that around 2.5M Steem in next year will be used for Steem's developments.
It also means that STINC has to spend less for Steem development.
However, though STINC is developing for Steem heavily but they are selling 800K Steem monthly programmatically that is creating tremendous pressure on Steem's price. One of the reasons for Steem's underperforming with respect to its peers is its selling pressure both from STINC and content creators.
With this rate of selling STINC will be out of funds within next seven years. However, one of the purpose of the fund (ninja mined Steem) was to delegate to potential DApps and personnel to help the distribution of Steem.
However, STINC's ineptitude during bull market is costing all the current HODLers (temorially, seeing Steem dropping in ranking is sore to eyes). STINC should have sold a large stakes during bull market and hedge that capital for future winter such as this. It hurts to sell 800K Steem in this severe altcoin bear market.
Another ineptitude is their severe lack of marketing for the blockchain. Former STINC CEO @ned was a big fan of speculation. He thought that he can hide his ineptitude by riding the bull market and spent lavishly which backfired in the bear market. But STINC is doing nothing for improving the speculation for Steem.
However, this speculation is required more than ever for Steem right now..
An ICO with less sexy MVP than top DApps in Steem launches in a few weeks and have a big crypto-celebrity in their board score $100M marketcap in the CMC. Ironically, after three years of hardwork and developments, Steem has less than $100M marketcap due to the absence of marketing and ineptitude of STINC.
We need a STINC alternative to decentralize power in Steem blockchain. With only $25M capital, theoretically all the liquid Steem can be bought from the market.
If a startup or group of investors can manage $10M capital, they can manage to buy a huge amount of liquid Steem or, fire-sell from STINC from the market to become a strong Steem based startup. It will give them access to the most powerful and useful DApps to the world. Also, it will give them influence to the one the largest, passionate and knowledgeable crypto-community in the world. I wish that Winklevoss brothers could notice and buy a stake to form a startup. The startup can make a DApp that can compete with Facebook to have their own revenge.
If I had the opportunity to buy 40M Steem with with $10M, here would be my startup's plan:
Monetized few DApps ideas to become sustainable startup.
Build DApps using the skills of devs who are also active in Steem chain and pay them through Steem (Upvotes).
Fund all the developments and non-developmental work with upvote as payment. No selling of Steem to the open market.
Delegate to DApps for TOKENs and support them.
Delegate a large number SP to active curators similar to @taskmaster4450's idea
Fund the activities that promote Steem chain to the outside world, projects that develop steem protocol, solve burning issues on protocol
Trade some liquid steem with bots for hedging. Sell during bull market and buy during bear market.
Form an alliance with STINC and witnesses to add steem to large number of exchanges
Help steem business alliance
Use crowd knowledge and skills to create a blockchain based business
Make SMT trading exchange and push exchanges to add SMT
An all-out effort to add Steem to @coinbase and airdrop few million steem
Implement few steps to inspire buring of Steem such as immediate powerdown with 5% burning of SPs.
Build blockchain consultancy business and other income sources.
A top social media executive will take care of online marketing, SEOs and public relation to media. Regular news and update about Steem will released to media. Even hire celebrity to campaign for Steem.
A scientist will be hired to publish papers in Crypto/general conferences using Steem data, on protocol upgrades and performance data in collaboration with heavy Steem users.
In a special case, an ICO will be launched called NEON to raise $50-100M fund from the market. It will be ninja marketed similar to hot ICOs in the market. Main selling point would be to buy 50M Steem in phases.
Make a world-class advisory board for the startup.
Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.
Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.
Peace
@dtrade
Crypto-miner, trader and blogger since 2013
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Interesting idea, but at the moment we need to see after the hard fork implementation.
Stinc.
Stink.
Was no genius that named that one. 🤣