create account

Single token, simplification?! by good-karma

View this thread on: hive.blog |  peakd.com |  ecency.com
hive-111111 · @good-karma · (edited)
$49.41
Single token, simplification?!
In this post, wanted to brainstorm the idea of simplifying Steem staking mechanism, if not Steem then could be adopted into some Smart Media Tokens or ESTM.

<center>![k6uk6s.png](https://img.esteem.app/k6uk6s.png)</center>

Right now, we have STEEM, SBD and STEEM POWER and with introduction of SMTs, there will be dozen more tokens, each *might* have their own multiple tokens (power token, liquid token and stable token). 

More complexity for users... Of course, tokenizing web is unavoidable and many users already have many different tokens but what if we can simplify staking or core of Steem.

I was thinking of the idea of having one liquid token which can be used as an influence as well as stay liquid.

# Stable token

Many have argued in a past that we need stable tokens. Market have shown interest in this area as well, year 2019 with creation of many stable tokens. It helps to avoid fluctuations during bear/bull markets also gives user much more confidence holding stable token, stable utility/use. Most of them does stay stable compare to other forms token. In my opinion, when token mature enough, it won't need stable token. *Liquid token* will be much more stable and slower to move upward and downward when it reaches certain point. 

When does token mature, where is that certain point?! 
That is another question which I don't have answer for and from looks of it even BTC is not mature enough yet. 
But until maturity is achieved user can always use other stable coins or hold plain old fiat/digital cash. 

For almost a year, there wasn't any SBD printed and network still continue to function as normal and existing SBD didn't get any traction in terms of utility or use. So one can argue removing SBD will not be big issue and it will help simplifying system.

# Power token

This is really controversial subject that has been discussed since the start of Steem by multiple respected community members. Pros and cons are weighted in different directions. We have even tried different lockup schedule, [new proposal being discussed](https://esteem.app/steemit/@steemitblog/steemit-power-down-proposal), which seem promising. 

What best utility STEEM POWER gives? 

Most agree that major utilities are: a) it gives extra security for user in case of hack, b) influence for allocation of reward pool.

BTC, ETH many tokens doesn't require to be locked in to be safe. Security is built-in in user's behavior, so user is  careful to take care of their own tokens. Of course, people learn lessons hard way and same is happening with Steem users as well. 
Influence on reward allocation, this can be improved and it is working quite good with recent EIP and doesn't require tokens to be locked, imho. So one can argue this complexity is also unnecessary. 
How to improve influence on network without token lockup?

# Liquid token

Influence on network can be achieved in many ways with only 1 token. And it is simpler to understand and explain, onboard users without complexity and it also increases liquidity on market for single token, it attracts more users because user can get in and out instantly.

Let's imagine scenario, where we have only one token **STEEM**. *Numbers below are just examples...*

1. User transfers in or earns 3000 STEEM
2. Liquid token matures daily upto 30 days or at once after 30 days. 
    - Daily:
         - On Day 1, effective influence would be 100 STEEM increase/mature daily.
         - On Day 30, effective influence would be 3000 STEEM.
    - Instant:
         - After 30 days token would reach maturity and influence would be 3000 STEEM right away. This has some complication for RC or user experience. Not sure would improve anything.
         
3. If user transfers out all or part of STEEM, it would still continue to calculate effective influence and eventually decay.

This would allow user to stay liquid but influence would still be core of the Steem that decay and mature depending on liquid token moving average balance.

Simplification would, not only improve user experience and understanding of economics in much simpler way, unified utility, etc. but also create demand for single token.

Technically, making this type of change on Steem probably will require quite a lot of refactoring. 

So let's brainstorm this for now and see if it is any better or viable. Curious to know what you think, leave a comment...

Steem on!

<center>

![eSteem Footer Line](https://img.esteem.ws/6uq66a9wam.png)

[![Vote for @good-karma as a witness](https://img.esteem.ws/pjdgzduk0s.png)](https://steemit.com/~witnesses)
</center>
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 571 others
👎  ,
properties (23)
authorgood-karma
permlinksingle-token-simplification
categoryhive-111111
json_metadata{"links":["https://esteem.app/steemit/@steemitblog/steemit-power-down-proposal","https://steemit.com/~witnesses"],"image":["https://img.esteem.app/k6uk6s.png","https://img.esteem.ws/6uq66a9wam.png","https://img.esteem.ws/pjdgzduk0s.png"],"users":["good-karma"],"tags":["hive-111111","steem","token","estm","esteem","steempower","pos"],"app":"esteem/2.2.4-mobile","format":"markdown+html","community":"hive-125125"}
created2020-02-12 07:14:57
last_update2020-02-12 07:22:30
depth0
children57
last_payout2020-02-19 07:14:57
cashout_time1969-12-31 23:59:59
total_payout_value25.324 HBD
curator_payout_value24.087 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length4,590
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,358,319
net_rshares144,302,294,715,916
author_curate_reward""
vote details (637)
@arcange · 
Congratulations @good-karma!
Your post was mentioned in the [Steem Hit Parade](/hit-parade/@arcange/daily-hit-parade-20200212) in the following category:

* Pending payout - Ranked 5 with $ 50,95
properties (22)
authorarcange
permlinkre-single-token-simplification-20200212t165357000z
categoryhive-111111
json_metadata""
created2020-02-13 15:54:45
last_update2020-02-13 15:54:45
depth1
children0
last_payout2020-02-20 15:54:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length196
author_reputation1,148,349,221,690,653
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,415,202
net_rshares0
@ayijufridar · 
On one hand, tokenizing web (I just heard this term) provides convenience in one-time transactions with the concept of one for all and all for one. But on the other hand, I see too many tokens that have no value, making the web look like a receiving engine. 

I agree more with quality than quantity. Better to have a limited number of tokens but have value in the market, than we collect garbage and process it into compost.

Steem on...!
properties (22)
authorayijufridar
permlinkq5mj0d
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-13 04:55:24
last_update2020-02-13 04:55:24
depth1
children0
last_payout2020-02-20 04:55:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length439
author_reputation197,422,167,441,605
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,395,521
net_rshares0
@cbdoilstore · 
I definitely think you are on the right path here with simplifying the STEEM tokens, but I feel that its almost impossible to standardize one token for the entire community without a major upheaval. 
I do agree that the STEEM tokens would benefit greatly from simplification and would allow for easier and more common use.
👍  
properties (23)
authorcbdoilstore
permlinkq5lkza
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-12 16:40:21
last_update2020-02-12 16:40:21
depth1
children0
last_payout2020-02-19 16:40:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length322
author_reputation654,150,350,372
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,375,733
net_rshares378,384,526
author_curate_reward""
vote details (1)
@chekohler · 
I still like SBD and I think it can be pegged again along with SMT's it will be the basis of our internal arbitrage can be done and make trading within the steem ecosystem with fee-less transactions quite popular. 

What you pitch is a very interesting concept I think you will get a lot of resistance from advocates of the system thinking that people would just want to earn and dump which will for sure be the case and abusers could misuse it for short term gains but I don't think it would be all that bad. I think if the system can dynamically/real-time allocate influence as well as interest on your stake I think it could be a cool option. 

As for the whole of steem being this way, not so sure, people are quite tied to the system. I'd say this would be more of a forked/side-chain tribe style where those who prefer this method can use it
properties (22)
authorchekohler
permlinkre-good-karma-single-token-simplification-20200212t082040648z
categoryhive-111111
json_metadata{"community":"busy","app":"busy/2.5.6","format":"markdown","tags":["hive-111111"],"users":[],"links":[],"image":[]}
created2020-02-12 08:20:42
last_update2020-02-12 08:20:42
depth1
children3
last_payout2020-02-19 08:20:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length848
author_reputation524,332,427,393,665
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,359,834
net_rshares0
@fsm-liquid · 
One of the reason why some people like staked STEEM (SP) is because they know when their account is compromised they won't lose all their crypto immediately so if you propose to implement it this way they won't agree to it.

The instant dumping is another issue, this change will lure people that just want to leech value from the network (existing or new users) because earning the "free money" requires absolutely zero commitment to the source of the "free money". "I don't think it would be all that bad" is not a good enough justification to just ignore the potential threat.

Yes, the proposed change as written on the original post is better off implemented as a completely separate Steem fork (like GOLOS or WS) or tribe. It just bears to much risk to implement it for Steem.
properties (22)
authorfsm-liquid
permlinkre-chekohler-q5llyg
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 17:02:33
last_update2020-02-12 17:02:33
depth2
children0
last_payout2020-02-19 17:02:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length782
author_reputation365,976,853,407
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,376,756
net_rshares0
@good-karma · (edited)
Note, Influence is not instant even though power is liquid... 

PS. SBD could indeed be SMT. I think we will see stable tokens on SMT regardless, for different fiat currencies or different DAI, etc.
properties (22)
authorgood-karma
permlinkre-chekohler-2020212t103838843z
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"esteem/2.2.3-surfer","format":"markdown+html","community":"esteem.app"}
created2020-02-12 08:38:39
last_update2020-02-12 08:39:48
depth2
children1
last_payout2020-02-19 08:38:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length198
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,360,246
net_rshares0
@fsm-liquid · 
SBD technically kind of already a SMT. Stable tokens will definitely pop up as SMTs but what makes SBD different is that it's on-chain and non-custodial. We can't make SMT that works like DAI on Steem because Steem doesn't support custom smart contract on the base layer, we can only make custodial stablecoin like Tether with SMT specification as written on the white paper let alone the v1 coming next fork which doesn't have the full specification yet. However, we can push a change to make SBD work like DAI (or other on-chain non-custodial stable tokens) if we want to keep it around at all.
properties (22)
authorfsm-liquid
permlinkre-good-karma-q5lmq9
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 17:19:09
last_update2020-02-12 17:19:09
depth3
children0
last_payout2020-02-19 17:19:09
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length596
author_reputation365,976,853,407
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,377,595
net_rshares0
@gadrian · 
"Removing" STEEM Power is the easiest thing to do. It's just a matter of rewording it, as quite a few people remarked. We just call it 'staked STEEM'.

Unless some major set backs would come up from removing SBD, I'm in favor. The problem I can think of is what do you do with SBD on exchanges? People would need to transfer that to Steem wallets (if they have them) and exchanges would need to delist SBD. I doubt the conversion can take place at exchanges.

I'm not sure I understood exactly from your post if you said maturity of liquid STEEM only affects voting for reward pool or witnesses and STEEM.DAO as well. If it's just the first, I'm not ok with it, if they are both, that's something that can be a solution. Term for full maturity can be talked some more. I'm in favor of a longer term.

We also have two other things to think about: do short term holders of the liquid STEEM care about the long term future of the blockchain? Some do, I'm sure of that, but will they be the majority? Don't get me wrong, I believe STEEM needs a higher liquidity. It also needs protection from predators.

The second question: What do we do with interest? Keep it as is? Remove it? You said simpler, so I guess you are not in favor of progressive interest, based on holding time (maybe not necessarily locked in?).

Actually a third question: what do we do with the Savings account? Do we remove it? Do we revamp it to something truly useful?
properties (22)
authorgadrian
permlinkre-good-karma-q5kzka
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2019.12.0"}
created2020-02-12 08:57:45
last_update2020-02-12 08:57:45
depth1
children3
last_payout2020-02-19 08:57:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,438
author_reputation646,195,745,838,883
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,360,892
net_rshares0
@good-karma · 
Great comment, thanks!
SBD is dollar worth of STEEM and removing it is simpler because all SBD could just be converted to STEEM no matter where they are (exchange or savings).
Influence on reward pool, witnesses, dao, all will be similar to what we have now. In post, example number I choose was 30 days, you can call it 13 weeks, which will turn system into current system, but token staying liquid (influence is not).
Interest also stays and rewarded depending on influence or mature token holding.

Savings are great feature we have on Steem, with only one liquid token, Savings could be used as safeguard feature where you can store liquid token on savings with different interest rate (right now SP is used in some ways to safeguard token).
properties (22)
authorgood-karma
permlinkre-gadrian-2020212t111118909z
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"esteem/2.2.3-surfer","format":"markdown+html","community":"esteem.app"}
created2020-02-12 09:11:18
last_update2020-02-12 09:11:18
depth2
children2
last_payout2020-02-19 09:11:18
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length745
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,361,200
net_rshares0
@gadrian · 
Steem in Savings would keep its influence, right? And earn interest.
properties (22)
authorgadrian
permlinkre-good-karma-q5l0t6
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 09:24:42
last_update2020-02-12 09:24:42
depth3
children0
last_payout2020-02-19 09:24:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length68
author_reputation646,195,745,838,883
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,361,486
net_rshares0
@smooth · (edited)
> all SBD could just be converted to STEEM no matter where they are (exchange or savings)

Coordinating this with exchanges would be a nightmare. It is enough of a challenge just to get them to update their wallets.
properties (22)
authorsmooth
permlinkq5o0ne
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-14 00:14:09
last_update2020-02-14 00:14:27
depth3
children0
last_payout2020-02-21 00:14:09
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length215
author_reputation260,342,945,372,716
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,426,088
net_rshares0
@hero777 · 
# According to the Bible, *How do you influence faith to Christian believers? (Part 3 of 3)*
***(Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.)***
https://youtu.be/QUE64WdiKMg
https://i.postimg.cc/SxmKZFY2/image.jpg
Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to **Thank you, our beloved friend.**  
Check our [Discord Chat](https://discord.gg/vzHFNd6) 
Join our Official Community: https://beta.steemit.com/trending/hive-182074
👍  
👎  , , , ,
properties (23)
authorhero777
permlinklscc8j0hpzq
categoryhive-111111
json_metadata""
created2020-02-12 07:23:15
last_update2020-02-12 07:23:15
depth1
children0
last_payout2020-02-19 07:23:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length604
author_reputation-12,129,381,532,907
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout10,000.000 HBD
percent_hbd100
post_id95,358,453
net_rshares-56,784,777,100,967
author_curate_reward""
vote details (6)
@ili0braz · 
ещё проще просто всё конвертировать в удобных юзеру "фиолетовых верблюдов". Сразу эквивалент и шо с ним делать
👍  , , ,
properties (23)
authorili0braz
permlinkre-good-karma-q5l0ua
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 09:25:24
last_update2020-02-12 09:25:24
depth1
children0
last_payout2020-02-19 09:25:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length110
author_reputation22,166,161,180,621
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,361,505
net_rshares2,102,784,391
author_curate_reward""
vote details (4)
@leprechaun · 
Its unfortunate that SBD doesn't normally keep its peg.
properties (22)
authorleprechaun
permlinkq5nby3
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-13 15:20:33
last_update2020-02-13 15:20:33
depth1
children0
last_payout2020-02-20 15:20:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length55
author_reputation43,062,883,043,443
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,414,138
net_rshares0
@mahdiyari · 
Giving influence to liquid token breaks Steem blockchain's security. e.g. exchanges can manipulate witness votes. (I might be wrong but I think exchanges hold more than 70% of liquid STEEM)
properties (22)
authormahdiyari
permlinkq5kz74
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-12 08:49:54
last_update2020-02-12 08:49:54
depth1
children19
last_payout2020-02-19 08:49:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length189
author_reputation199,864,818,197,856
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,360,610
net_rshares0
@good-karma · 
That's really great point 👍 They could still manipulate if they wanted though, no?!
properties (22)
authorgood-karma
permlinkre-mahdiyari-2020212t105849177z
categoryhive-111111
json_metadata{"tags":["esteem"],"app":"esteem/2.2.3-surfer","format":"markdown+html","community":"esteem.app"}
created2020-02-12 08:58:48
last_update2020-02-12 08:58:48
depth2
children17
last_payout2020-02-19 08:58:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length83
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,360,936
net_rshares0
@borislavzlatanov · 
No, they would have to stake their Steem to get influence over the network.
properties (22)
authorborislavzlatanov
permlinkq5l202
categoryhive-111111
json_metadata{"app":"steemit/0.2"}
created2020-02-12 09:50:24
last_update2020-02-12 09:50:24
depth3
children16
last_payout2020-02-19 09:50:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length75
author_reputation23,564,384,956,181
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,362,133
net_rshares0
@marki99 · 
We could easily make it so that exchange accounts can't participate in influence votes (witness and SPS). There is already a fork where this is done to @steemit account, but it is not used now. 

Let's do the same for Binance and Bittrex and the others. The maturity model is good enough to prevent manipulating from other types of whales, they won't wait months to power up fully just to manipulate votes. And if they do, well they held Steem for a long period of time.
properties (22)
authormarki99
permlinkq60fbj
categoryhive-111111
json_metadata{"users":["steemit"],"app":"steemit/0.2"}
created2020-02-20 17:02:09
last_update2020-02-20 17:02:09
depth2
children0
last_payout2020-02-27 17:02:09
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length470
author_reputation11,400,723,818,181
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,651,654
net_rshares0
@marki99 · 
Yes, yes and yes. 

The maturity is the best way to deal with steempower because influence cannot be given to someone who just bought. 

Even with the current model, if a new whale comes, it can powerup everything in one day and get as much influence as it wants. 

Also will help lot to unboard investors.
properties (22)
authormarki99
permlinkq60f23
categoryhive-111111
json_metadata{"app":"steemit/0.2"}
created2020-02-20 16:56:27
last_update2020-02-20 16:56:27
depth1
children0
last_payout2020-02-27 16:56:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length306
author_reputation11,400,723,818,181
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,651,502
net_rshares0
@mehta · (edited)
I like the liquid steem or one currency principle. The multiple coin create confusion to new user to understand the things. I very much like this type of principle. But now the question is, can this will be possible at steem blockchain / community?

**If one coin with liquid option is available that is great idea for everyone in long run. It require out of box thinking.**
properties (22)
authormehta
permlinkq5oaln
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-14 03:49:15
last_update2020-02-14 03:52:00
depth1
children0
last_payout2020-02-21 03:49:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length374
author_reputation596,529,448,240,428
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,429,871
net_rshares0
@michaelakintola · 
Wow!
This is really awesome, thanks for the comprehensive lecture. @good-karma It's really a great knowledge.
properties (22)
authormichaelakintola
permlinkre-good-karma-2020212t204035717z
categoryhive-111111
json_metadata{"tags":["hive-111111","steem","token","estm","esteem","steempower","pos"],"app":"esteem/2.2.3-mobile","format":"markdown+html","community":"esteem.app"}
created2020-02-12 19:40:45
last_update2020-02-12 19:40:45
depth1
children0
last_payout2020-02-19 19:40:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length110
author_reputation345,014,419,797
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,383,879
net_rshares0
@mubashirjalal · 
👍👍
properties (22)
authormubashirjalal
permlinkre-good-karma-2020212t175638625z
categoryhive-111111
json_metadata{"tags":["hive-111111","steem","token","estm","esteem","steempower","pos"],"app":"esteem/2.2.4-mobile","format":"markdown+html","community":"hive-125125"}
created2020-02-12 14:56:39
last_update2020-02-12 14:56:39
depth1
children0
last_payout2020-02-19 14:56:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length2
author_reputation289,286,772,965
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,371,124
net_rshares0
@onthewayout · (edited)
$0.08
Your proposal ***is not*** simpler then the current state of affairs, one could argue that it has more cognitive load on end-users. I think that you are just expressing your desire to be able to sell quickly when the market goes bullish.

It is my opinion that DPOS governance works "better" when staking is used as the key that opens the voting for block-producers. Having a totally liquid token opens up some avenues for malicious witness voting (especially when the market cap is low).

This is especially true with steem since staking also gives you the ability to distribute the inflation.

What would be the benefit of your proposal? Can you quantify it or measure it's effects? Is their empirical data that sugests that it would have a positive influence on the price or token distribution?
👍  , ,
properties (23)
authoronthewayout
permlinkq5kw84
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-12 07:45:39
last_update2020-02-12 20:24:51
depth1
children2
last_payout2020-02-19 07:45:39
cashout_time1969-12-31 23:59:59
total_payout_value0.038 HBD
curator_payout_value0.037 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length797
author_reputation13,205,527,560,619
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,358,954
net_rshares396,918,845,130
author_curate_reward""
vote details (3)
@good-karma · 
It is not a proposal. It is brainstorming idea of improving staking (not removing) without locking up token.
properties (22)
authorgood-karma
permlinkre-onthewayout-2020212t95949883z
categoryhive-111111
json_metadata{"tags":["esteem"],"app":"esteem/2.2.3-surfer","format":"markdown+html","community":"esteem.app"}
created2020-02-12 07:59:51
last_update2020-02-12 07:59:51
depth2
children0
last_payout2020-02-19 07:59:51
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length108
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,359,350
net_rshares0
@marki99 · 
He's not proposing a totally liquid token, since you need a month to power up. You cannot add and remove influence instantly. 

And removing the SBD and changing steempower to staking clearly reduces the cognitive load.
properties (22)
authormarki99
permlinkq60f4k
categoryhive-111111
json_metadata{"app":"steemit/0.2"}
created2020-02-20 16:57:57
last_update2020-02-20 16:57:57
depth2
children0
last_payout2020-02-27 16:57:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length219
author_reputation11,400,723,818,181
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,651,538
net_rshares0
@phusionphil · 
Where does this Top 20 Witness stand on Tron possession of Steemit Inc.?
properties (22)
authorphusionphil
permlinkre-good-karma-q5u3yo
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-17 07:11:12
last_update2020-02-17 07:11:12
depth1
children0
last_payout2020-02-24 07:11:12
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length72
author_reputation94,174,734,431,185
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,529,337
net_rshares0
@revisesociology · 
@tipu curate
properties (22)
authorrevisesociology
permlinkre-good-karma-q5kv6q
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 07:23:15
last_update2020-02-12 07:23:15
depth1
children1
last_payout2020-02-19 07:23:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length12
author_reputation2,313,741,783,770,793
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,358,454
net_rshares0
@tipu · 
<a href="https://tipu.online/curator?revisesociology" target="_blank">Upvoted &#128076;</a> (Mana: 10/15 - <a href="https://steempeak.com/steem/@tipu/tipu-curate-project-update-recharging-curation-mana" target="_blank">need recharge</a>?)
properties (22)
authortipu
permlinkre-re-good-karma-q5kv6q-20200212t072338
categoryhive-111111
json_metadata""
created2020-02-12 07:23:33
last_update2020-02-12 07:23:33
depth2
children0
last_payout2020-02-19 07:23:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length238
author_reputation55,954,426,099,732
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,358,459
net_rshares0
@revisesociology ·
$0.08
Nice logical approach here, I can really see the argument for getting rid of SBDs now that we've functioned without them for so long. Might be a bit of a shock to short term Steem price converting them all though. 

While I like your thinking behind the automatic 'powering up without powering up' option as it's simple, I don't think it's necessary - I think maybe changing the terms like @therealwolf and others have suggested to 'staking' makes more sense, but I don't really conceive of staked steem (let's start calling it that!) as a different type of token to liquid steem. 

But the idea of fewer tokens/ less complexity is definitely something that I think would help popularise Steem. 

I guess communities can make things as complex as they like!
👍  ,
properties (23)
authorrevisesociology
permlinkre-good-karma-q5kvql
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 07:35:09
last_update2020-02-12 07:35:09
depth1
children6
last_payout2020-02-19 07:35:09
cashout_time1969-12-31 23:59:59
total_payout_value0.040 HBD
curator_payout_value0.040 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length757
author_reputation2,313,741,783,770,793
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,358,708
net_rshares417,638,060,701
author_curate_reward""
vote details (2)
@therealwolf · (edited)
I guess I'm already biased due to my years on Steem, but I like the term `Steempower`. However, it does create overhead and unneeded complexity.

Many crypto people are already familiar with the term `staking`. And it would be easier for outside people looking into Steem to understand that `Steempower` is just referring to the token in a staked state.

Besides that, I also don't think it makes much sense to keep VESTS around. Steem Engine made the correct move, by creating a single token, with different states (staked, delegated, idle).

**Personally, I'm very much in favor of simplifying things!**

My only concern is backwards compatibility in regards to SMTs. Or in other words: we have to make sure that SMTs created before these potential changes, are not getting deprecated by it. But that's something @vandeberg most likely is able to answer.
👍  
properties (23)
authortherealwolf
permlinkq5kywt
categoryhive-111111
json_metadata{"users":["vandeberg"],"app":"steemit/0.2"}
created2020-02-12 08:43:42
last_update2020-02-12 08:43:57
depth2
children5
last_payout2020-02-19 08:43:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length856
author_reputation582,208,885,469,814
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,360,398
net_rshares0
author_curate_reward""
vote details (1)
@crokkon · (edited)
$0.11
properties (23)
authorcrokkon
permlinkq5l18f
categoryhive-111111
json_metadata"{"app": ""}"
created2020-02-12 09:33:45
last_update2022-08-06 16:18:45
depth3
children0
last_payout2020-02-19 09:33:45
cashout_time1969-12-31 23:59:59
total_payout_value0.056 HBD
curator_payout_value0.055 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1
author_reputation81,214,366,861,104
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,361,649
net_rshares565,319,434,253
author_curate_reward""
vote details (3)
@fsm-liquid · 
VESTS is there so rewarding SP via inflation can be done with a single change of value instead of adding differing values to ALL accounts that has SP according to the amount of SP on each account. I'm sure you are aware how it works. 

If you want to abolish VESTS, do you have an alternative in mind that at least as efficient? Or do you also want to abolish rewarding SP via inflation altogether?

I believe regular users never need to care about VESTS anyway, the same way they never need to care about rshares. I believe VESTS is worth keeping.
properties (22)
authorfsm-liquid
permlinkre-therealwolf-q5lnjk
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 17:36:48
last_update2020-02-12 17:36:48
depth3
children0
last_payout2020-02-19 17:36:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length548
author_reputation365,976,853,407
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,378,447
net_rshares0
@good-karma · 
I don't think it would require much rework in terms of SMTs, because it could simply be started with 13 weeks matured liquid STEEM turns into vesting_shares. Example, I choose in post was 30 days but could very well be 13 weeks.
properties (22)
authorgood-karma
permlinkre-therealwolf-2020212t112137144z
categoryhive-111111
json_metadata{"tags":["esteem"],"app":"esteem/2.2.3-surfer","format":"markdown+html","community":"esteem.app"}
created2020-02-12 09:21:36
last_update2020-02-12 09:21:36
depth3
children0
last_payout2020-02-19 09:21:36
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length228
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,361,425
net_rshares0
@raycoms · 
For me this is a clear user interface problem. The general user shouldn't have to care about vests, or whether steempower and staked steem are different. Just display these things the right way in their wallets and no one will care and there are no issues with compatibility either.
properties (22)
authorraycoms
permlinkq5lg1l
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-12 14:53:45
last_update2020-02-12 14:53:45
depth3
children0
last_payout2020-02-19 14:53:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length282
author_reputation115,046,969,395,583
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,371,044
net_rshares0
@revisesociology · 
Every time I here VESTs talked about I just get this picture of Dan Larimer and other math fans with satisfied grins on their faces. 

Great for mathemeticians, nonsense to the other 99.9% of the population. 

I take your point about knock on effects of changing anything!
properties (22)
authorrevisesociology
permlinkre-therealwolf-q5l35t
categoryhive-111111
json_metadata{"tags":["hive-111111"],"app":"steempeak/2.2.8"}
created2020-02-12 10:15:27
last_update2020-02-12 10:15:27
depth3
children0
last_payout2020-02-19 10:15:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length272
author_reputation2,313,741,783,770,793
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,362,854
net_rshares0
@therealwolf · (edited)
> Stable token

I'm somewhat neutral regarding SBD. I do see its potential, but I wouldn't mind if it were to be removed.

Also, I'm wondering whether this would result in a huge pump and a mutation of a "stable coin" to a value storage, as removing SBD inflation, would craft a deflationary currency. (conversion from SBD to STEEM has to be supported)

> Power token

My main pain-point with Steempower, is the underlying VESTS currency. It creates accounting overhead (powerdown/powerup is a conversion of currency = STEEM <> VESTS), which is absolutely unnecessary.

The basic idea with VESTS, if I'm correct, was it, to have a currency similar to how a startup's vesting shares. This also explains the previous 2 year lockup period.

Ever since the reduction of 2 years to 13 weeks, it's quite clear that this experiment didn't work out. And now with talks around reducing it even further, or making it dynamic, we should question whether we should keep that logic around.

> Liquid token

Looking forward to more comments around this, but I'm intrigued. Having only one token would simplify things a lot, but of course, also create quite a lot of refactoring work and potential bugs.
properties (22)
authortherealwolf
permlinkq5kzg3
categoryhive-111111
json_metadata{"app":"steemit/0.2"}
created2020-02-12 08:55:15
last_update2020-02-12 08:56:12
depth1
children4
last_payout2020-02-19 08:55:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,188
author_reputation582,208,885,469,814
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,360,815
net_rshares0
@good-karma · 
SBD, creating utility and liquidity for STEEM would be much more valuable than SBD imho.

Power, yes I agree, there are a lot of complexity in codebase. Not sure if it would be possible to cover all edge cases if this were to be implemented.
properties (22)
authorgood-karma
permlinkre-therealwolf-2020212t111744605z
categoryhive-111111
json_metadata{"tags":["esteem"],"app":"esteem/2.2.3-surfer","format":"markdown+html","community":"esteem.app"}
created2020-02-12 09:17:45
last_update2020-02-12 09:17:45
depth2
children3
last_payout2020-02-19 09:17:45
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length241
author_reputation656,223,454,697,932
root_title"Single token, simplification?!"
beneficiaries
0.
accountesteemapp
weight300
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,361,339
net_rshares0
@smooth · (edited)
> creating utility and liquidity for STEEM would be much more valuable than SBD imho

That was a reasonable view 3-4 years ago, but the market has moved on from that to more of a focus on stable coins, and for good reasons. Volatile tokens don't make for good medium of exchange, unit of account, or store of value (the last is debatable, if one is willing to take a _long_ term point of view).

There just isn't much utility to be had from volatile tokens other than speculating or longer term investing in the platform. 

This is one way Steem was actually ahead of its time, but has lost some of that lead by failing to push ahead with development to improve and strengthen SBD. 

I think getting rid of SBD (without replacing it with something similar) would be a huge error for Steem, but I could get behind the idea of simplifying between STEEM and SP.
properties (22)
authorsmooth
permlinkq5o0kx
categoryhive-111111
json_metadata{"app":"steemit/0.1"}
created2020-02-14 00:12:39
last_update2020-02-14 00:13:12
depth3
children2
last_payout2020-02-21 00:12:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length858
author_reputation260,342,945,372,716
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,426,066
net_rshares0
@transisto · 
![](https://cdn.steemitimages.com/DQmQd6cPPJYR6uCr9Y3zzeKG5GEa7PwcvkCtrN53G59xmK9/image.png)
I can understand how people are confused into thinking it's a separate token.

It's "Activated Steem"
properties (22)
authortransisto
permlinkq5mrvi
categoryhive-111111
json_metadata{"image":["https://cdn.steemitimages.com/DQmQd6cPPJYR6uCr9Y3zzeKG5GEa7PwcvkCtrN53G59xmK9/image.png"],"app":"steemit/0.1"}
created2020-02-13 08:06:54
last_update2020-02-13 08:06:54
depth1
children0
last_payout2020-02-20 08:06:54
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length194
author_reputation330,357,940,720,833
root_title"Single token, simplification?!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id95,401,194
net_rshares0
Help/Feedback