Yesterday I got the chance to ask @ned some questions about the Steem.DAO as a witness (@blockbrothers) for the blockchain on the State of Steem forum. (the recording will be up in a couple of days).
The Steem.DAO is being build by @blocktrades.
I got invited to ask these questions because @blockbrothers was one of the only witnesses that was skeptical about the whole idea. I also voiced my opinion in several posts. here and here.
We want to know all the ins and outs first before we form an opinion about the Steem.DAO.
Why? Because it makes sense and because it's a job of a witness to be skeptical, yet fair about these things.
Especially when there are rumours/talk about a Hard Fork to redirect inflation from author rewards to the DAO.
@blockbrothers is not in the business of bending over the moment the big guys start swinging their ideas about and I was frankly shocked how easy some witnesses agreed with new economic changes so easily without having any clue what the Steem.DAO will look like.
Our stance:
If there are going to be economic changes that will affect most Steemians on the chain there better be a damn good reason for it - @blockbrothers.
Vote for @blockbrothers via SteemConnect
About the DAO.
I thought the deal between @blocktrades and Steemit Inc. was intensely talked about between them and they had a clear idea of what they want the DAO to look like.
I also thought that an inflation model would be needed to make this work.
It's not the case.
What you need to know is that nothing about the DAO is set in stone yet. Even Steemit Inc. has no idea what it will look like when it's finished.
It's a community driven project that will allow us to fund proposals through a funding model by stake weighted voting.
Where the funding is going to come from is still very much open for debate.
How we going to prevent big stakeholders from upvoting their favourite (or own) proposals is still open for debate.
What kinda proposals we can expect is still unclear.
Who is going to check the work of proposals that are funded is still open for debate.
Basically....
Absolutely nothing is clear besides the fact that it will cost Steemit Inc. $55k to have the first version of the DAO build.
But they are willing to give it a shot. Because it could have potential value and it's worth exploring.
The first version of the DAO is going to be donations only. It's a trial.
No author rewards will be affected.
Also, remember that every inflation change will require a Hard Fork, a Hard Fork needs to be planned and consensus needs to be reached amongst witnesses.
You won't wake up one day with 20% of your author rewards gone.
Without consensus nothing big can happen to the economics of Steem.
I hope I have taken any concerns away from authors by asking the questions directly and again if you appreciate this take a couple of seconds to give your vote to witness @blockbrothers.
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i’m still pretty confused on how it’s all going to work and i really appreciated your questions yesterday man.
you spoke for a lot of us that love steem but these kinda things fly over our heads.
i hope this community effort pays off. sounds like there are tons of reasons to be excited for it.
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Thank you. There are indeed lots of open questions still to be solved/answered. Again, I don't understand how anyone can be in favour for economic changes without having these questions answered first.
I'm glad a trial with donations will take place first and we can take it from there.
I came to this post for the title and I was surprised to see your idea of "the question that concerns the community the most." As usual with you big guys, I have no idea what you are even talking about with this new project, but did it take over smt's as a concern in just a couple of weeks? I do not know whet smt's are either, but it seemed like people cared about that for at least the last 1.5 years.
My opinion matters not, but the question I am most concerned with is when and how we will get 1M+ active people posting here instead of the less than 10K "people who matter" that we have now. It seems odd to me that mass adoption is rarely talked about. But I am encouraged by the dapps, the gambling, and the games, so maybe the crowds will come soon and bring money with them when they do.
"The question that concerns the community the most" I'm talking about in this post is wether part of the author rewards will be used to fund proposals in the DAO.
The DAO is a project proposed by @blocktrades and you can read about it here here so you know what we are talking about.
The subject of my post is obviously the DAO and not mass adaption of Steem. It is an interesting subject though and like you I believe it will happen through the Dapps.
SMT's are still on the table btw. In yesterday's radio show Steemit inc. told us that they are targeted for 2019 and will be back in development after RocksDB is completed.
I did read that post from blocktrades and the project recently, and did not understand it. I do things like travel posts and helping minnows with low rc, so I normally don't look up here. like I said, your title allured me today.
I think they want to pay people to help/work here at steem or steemit and now how should that be funded? I have not got the level of knowledge to know any of those answers.
I know blocktrades is already rich, so I'm not sure they need money and I have no idea why people need to be hired here, but if they do - just hire them and be done with it. Anyone churning out some work and improvements anywhere would be thrilling for us all. But again, my opinion does not matter anyway.
All I know about smt's as that they were announced to be imminent in the summer of 2017 and made the price of steem/sbd jump. 2019 sounds like 2020 or 2021 to me lol.
RocksDB <<< New one on me! At least it is creatively named :)
Thanks for asking these very important questions. Though it sounds like they are just leading to more questions. It will be interesting to see what happens. I like the idea of Steemit Inc working with some of the bigger groups to accomplish things instead of trying to take it all upon themselves. Perhaps if this goes well there will be a collaboration with BlockBrothers on some project in the future!
Thank you @exyle for yet another interesting project!
Me like @jongolson also I do not fully understand it yet but from the looks of it I am also very exited and hope that will improve the steem environment overall. Change is good and it must happen in order to progress, for sure nothing happens over night and there will be some problems here and there but by taking care of the problems and giving feedback to us you ensure that the community will see this as an improvement and this will give value to steem.
Thank you for coming on the forum @exyle.
Here is the recording of the forum for anyone who missed it...
Thanks for the info and the arguments.
On the voting side ... since this is becoming a subject, should it be stake based or account based ...., in order to prevent big stake holders voting their projects.
Both methods have pro and cons ..... so a combination of both would be a nice solution. Furthermore a dynamic weight on the two factors depending on the matter voted on .... just a thought :)
Some users have thousands of accounts. But without Oracles or whitelists we won't know if these are real people so it's a problem. How do we count the votes?
Stake weight seems more fair as long as it is donations only. Once there is a continuous flow of Steem (inflation change) into the DAO this becomes a concern.
Just voted for @blockbrothers.
My sentiments are in line with your own, I think..
Thanks for the support. Votes are not permanent, you can always change them again when you feel the sentiments have shifted in the future maybe. But for now Thanks!
Made my vote for you guys as a witness. I like you think a similar way like me.
Also to be honest i read some comments from some witnesses and also i felt that they just mind the big stakeholders. They really dont care the "smaller" accounts.
But without the small accounts or lets say users. Because they are the real users of the products here there is no steem.
Also as i wrote that the steem is a beautifull mall. The accounts are the products and the customers. So if they touch the author rewards for sure even steem is an amazing oporrunity but it will fail because the users will leave.
Thanks for the info mate and keep up the good job.😉
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This is why I am happy to vote for you as witness. Keep up the good work. I also liked your stance on hard forking Steemit Inc. out of there stake. You said no strongly, at a time when that was pretty unpopular for a witness.
Thanks for the compliment for @blockbrothers and the continued support, man!
@exyle and @blockbrother, I really want to appreciate your outlook towards this Idea. In my opinion when we want to see the development of productive idea, growth and community growth then definitely we have to look from every angle and rushing forward is not the ultimate aspect, may take sometime but after discussion of every aspect we should come into light because, when we question we will get clarity and when we get clarity then we can come up with our contribution, without clarity nothing went fruitful till now. Keep up and stay blessed.
You have alleviated some of my concerns that's for sure! Cheers man, you always cut through the chaff!
Thanks, man!
Thank you for explaining what's going on.
It really helps us schmoes.
Not being sarcastic at all.
I really appreciate all the work you are putting into steem.
And thanks for explaining. :)
Thank you, and that Gif would be an interesting way to present a vlog :)
wrote about this, not a lot of things are known.
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My guts feeling tell me this whole idea will not work... A lot of witnesses are yes man because they are scare to lose their income or position!
I feel that Steemit Inc should deliver what they originally promised. Since many people invested on that premise, the stakeholders (especially the late 2017-2018 investors) have already paid their part for SMTs. Steemit Inc needs to pay for this.
My concern about paying for future worker proposal system is that there doesn't seem to be any real intent to quantify ROI evaluation. I get the impression that in the future the community will rally to get some proposal done without quantifying (with real data) how the proposal will pay back the stakeholders investment. This will be a doomed business strategy.
A business strategy to pay for work because at least work will be getting done is a terrible idea. There needs to be a real reason to pay for work.
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I'm still wary that this is just a temporary reprieve.
I think that the community will look at these opportunities and develop and adapt according to the value the can create. I am excited to see where it all goes and how we can support it all!
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I have been behind on my feed this week and have yet to listen to the forum but looking forward to doing so to understand and form my opinion as I think this system is imperative for the future sustainability of the protocol and its development. No matter Steemit Inc’s newfound passion or work, the protocol development should become more centralized and I think this move is a good first step in doing so. However, funding is important and despite being a great community donations will not be enough after a couple of iterations.
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This post has been included in the latest edition of SoS Daily News - a digest of all you need to know about the State of Steem.