This is exactly the problem I was just thinking about in my last post. There is an issue right now where the reward pool is shrinking and bloggers are upset. Of course as the reward pool shrinks every post has less potential for rewards, so some bloggers post more frequently as a result.
Any way which can expand the reward pool, provide opportunities for new participants to get rewarded, and also protect established bloggers with a history of producing quality content will be helpful. We all win by growing the Steemit economy in my opinion.
Smart oracles are a fantastic idea.
Does the shrinking reward pool matter if the price of STEEM is increasing?
I know it isn't now but couldn't it ultimately become a wash?
were just at the bottom of a rising cycle. The alt market should resume growth shortly and change the dynamic of the steemit ecosystem!
But we need the SMTs and other tools in order to drive demand for Steem. We all want to add value to Steem but there is only so much that content producers can do to drive demand for Steem with the current model. So by providing a bigger set of options for how people can add value to Steem this will allow people who have different skills to participate in building Steem up.
And you are correct it is possible if we just wait that eventually the price of Steem could go up on it's own but I think it's better to build the economy by adding value as much as we can to improve those odds.
Yes we need to expand the use case. Steem is unlikely to go up on its own as it is inflationary. We need to grow more than double per year to keep up with inflation. More than possible - if we expand the use case!
@taskmaster4450 and @dana-edwards
Yes, ideally, as more people join steemit AND BUY IN to steemit, then the price will go up at an equivalent rate and so.... even though you get fewer STEEM per post, they are worth more, so it is a wash.
But it won't ever be a perfect reflection. Other market factors etc. So ideally, if people can save and hold and just cash out at the right times, it will all work smoothly.
at the moment.... it isn't ideal.
Further increase of STEEM value through work with SMTs, front end apps etc should help.
Yes , you are right I have think this is something where we have to work