SMTs and Good Person Tokens will solve this - Problematic View
Maybe. Don't get me wrong, I think SMTs are great. But they're 6 months away and in reality, it'll take far longer for any of them to garner sufficient market confidence to really play a role in the content discovery process. The use of Oracles also impose very high practical cost and a lot can go wrong in reality. Basically they're very far off and a lot needs to go right for them to work effectively. Something like n^1.3, 10% free downvotes and 50% curation is just a lot more direct and simpler and easier to implement. Ultimately we need the Steem base token to have a functional reward distribution too, not just SMTs, which are a big If.
I'm not sure if the last sentence needs to be true for the Steem blockchain to survive.
Could STEEM be valued at 1 cent and and a Good Person Token, backed by strong Oracles, worth 10$?
If this was possible, blogging 'here' and not on a site using this SMT would be pointless for reward purposes.
The GPT could enforce rules such as 1-person-1-account (time consuming and not bullet proof), alongside a disabled vote for self 'feature', which could be interesting.
You can understand why i've not made a post yet, it's confusing my brain. Oh, and @steemmonsters! :D
If things keep going the way they go, I think such a post is really needed :0/
It is on the to-do list, hopefully tomorrow.
And from what I’m gathering, 3 hours won’t be tough to secure at this rate.
I'll keep my eye out for it :)
:)
Some of my thoughts are discussed here, and specifically in @trafalgar's comment:
https://steemit.com/steem/@kevinwong/understanding-steem-s-economic-flaw-its-effects-on-the-network-and-how-to-fix-it
I'm not sure if the last sentence needs to be true for the Steem blockchain to survive.
Could STEEM be valued at 1 cent and and a Good Person Token, backed by strong Oracles, worth 10$?
If this was possible, blogging 'here' and not on a site using this SMT would be pointless for reward purposes.
The GPT could enforce rules such as 1-person-1-account (time consuming and not bullet proof), alongside a disabled vote for self 'feature', which could be interesting.
You can understand why i've not made a post yet, it's confusing my brain. Oh, and @steemmonsters! :D
I checked your page ... it's totally steemmonsters :)