Aren't we supposed to go as far as possible from the actual fractional reserve system backed up by thin air ? Why are you replicating this system for storage ? If the storage is too expensive no DAPPS can be developed. The price per Gigabyte should be under 1 USD at all times to allow DAPPS to grow as much as they need to. With the fractional reserve system that you want to put in place, "a run on storage banks" will happen and everything will be shut down.
EOS got hundreds of millions of dollars in the ICO, why they don't reinvest half of it to send storage units to the producers ? Let's say 1 EOS token is fractionalized x10000, producers will have to add new storage units every single day in their datacenter. Also, if tokens are fractionalized, nobody will be able to rent out EOS tokens as 1 EOS token will give access to a lot of storage and there is no need to rent tokens as it was previously thought.
EOS is supposed to be the blockchain to run applications like Steemit, Steemit has a lot of content, it uses a lot of data storage.
The most important thing for EOS is to let people store data on the ledger for as cheap as possible, if possible cheaper than centralized systems.
5% of let's say 10 billions USD market cap its a lot of money, surely enough to buy thousands of storage units. Producers have to be big data centers companies, not single dudes in their room with a 6 rig GPU.
I think Steemit is better served with their own Blockchain. Small apps who do not warrant their own blockchain and do not have such a huge community are perfect candidates for eos. It is a different animal...
You don't understand the problem. When it comes to smart contracts we need RAM not DISK and they don't make individual machines capable of 3000TB of RAM and cluster support isn't ready.
Furthermore, you didn't grasp the point of the article was to come up with a pricing algorithm that ensures there can never be a "run on the memory bank".
How is cluster support isn't ready? What if you find a nice vendor like Cray?
https://www.top500.org/lists/2017/06/