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RE: Part 3 of Our Plan to Onboard the Masses: Smart Media Tokens

in #smt • 5 years ago

They are not patient people. :) I am not opposed to the idea, but I do think it is too soon. However, I've seen this move coming....

I will not hold if they do it now. It's do soon, with too little distribution and ineffective leaders as Large Stakeholders in a DPOS chain matters.

The bear market has taken an emotional toll on many of our users and stakeholders and they are looking for ANY WAY to stop the bleeding. It's short sighted in my view... But I think we will see a reduction in inflation sooner rather than later.

5 years ago in #smt by
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     5 years ago (edited) 

    It's not really an emotional reaction at all. If SMTs are a viable product, it makes sense to go this route. As Andrarchy said above...

    Yup, I agree. Getting PoB tuned exactly right is pretty much impossible and it gets harder the larger and more diverse the community gets. IMO a more evolutionary approach is the only way to solve the problem; lots of coins, launched by lots of communities, experimenting with many different implementations of PoB in conjunction with varied business models. The best implementations are the ones that survive. We can then use those implementations to inform the design of the base token, but since that token will be tasked with aligning the incentives of such a large and diverse community, it will almost invariably function sub-optimally, in which case it would make sense to minimize the impact it would have on the economics of the system by reducing its inflation rate to the lowest possible level.

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     5 years ago  

    You can't remove the current economy before replacing it. Also, who wants to hold or buy a token with no vision or use case?

    Don't break what you have before you have a viable replacement.

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       5 years ago (edited) 

      It would be replaced with an SMT. Steem would be the base layer on which everything else is created.

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       5 years ago  

      Better get those out and released before you talk about breaking the only use case we have.

      I agree with the future vision and hate the timing.

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         5 years ago  

        Yes of course, it would only be done when SMTs are released and functional, that is the whole premise behind the change.