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What Will Happen to @geektoken? by holovision

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palnet · @holovision ·
$13.84
What Will Happen to @geektoken?
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<p>https://i.imgsafe.org/44/44875dcd30.jpeg</p>
<p>The GEEK token team is currently being assembled over at @geektoken and rewards will start to be given out for content soon. If you want to help the team members find your content the tag to use is geektokens. After December 31, 2019 any GEEK tokens not minted or issued will be sent to @null for burning. On January 01, 2020 at most there will be 500 million tokens. Whatever GEEK is in circulation at that time will be the GEEK that exists and will ever exist.</p>
<p>Looking at the <a href="https://steem-engine.rocks/tokens/GEEK/richlist?page=1">GEEK rich list</a> it looks like most accounts that got the airdrop didn't sell it immediately. Hopefully the trend of hodling GEEK will continue as rewards are disbursed but even if selling GEEK increases it should be a short term problem. The limited amount of GEEK along with more users getting interested in steem engine tokens most likely will be positive for GEEK in the long run.</p>
<p>Recently a <a href="https://stemgeeks.net">STEMGeeks tribe</a> was created by <a href="https://steempeak.com/@stemgeeks">@stemgeeks</a> . That shouldn't be a problem for anybody nor should anybody think it negatively impacts GEEK. STEMGeek (STEM) is a token for technology, math, science and engineering content. Even though GEEK overlaps that GEEK is more of a "geek culture" token that can reward aspects of geek interests such as fantasy and cosplay. Also, GEEK is more scarce than STEM when comparing supply.&nbsp;</p>
<p>&nbsp;<a href="https://www.youtube.com/watch?v=rZeEZPvHOkI">https://www.youtube.com/watch?v=rZeEZPvHOkI</a></p>
<p>After the GEEK tokens are distributed the other major asset that needs to be taken care of is the @geektoken account.</p>
<p><br></p>
<p>If anybody wants to take over the account <strong>READ CAREFULLY</strong>:</p>
<p><br></p>
<p>I will give the @geektoken account to anybody who wants to continue the project of rewarding geeky content. What this means is anybody who is willing to spend 100 ENG tokens <a href="https://steem-engine.com/?p=add_token">at steem-engine.com to create a new token</a> for Geek Rewards gets the @geektoken account. Once someone creates the new Geek Rewards token I will e-mail them a .pdf file with all the account keys for @geektoken. <strong>THE NEW OWNER IS THEN RESPONSIBLE FOR CHANGING THE ACCOUNT KEYS.</strong></p>
<p>Contact me with your intention before creating a new Geek Rewards token because this is one account and if two different people simultaneously create tokens one will be disappointed. I can give one the go ahead and if a second person wants to create a token for the account I can let them know it's too late.</p>
<p>The GEEK symbol has already been used so a new token symbol would have to be used. GEEKY or GEEKER or maybe even something like NERD. Since the account name is @geektoken the new token name needs to be something like Geek Rewards 2.0 or Geek Token or something that reasonably goes with the account name.</p>
<p>Right now the <a href="https://steemitwallet.com/@geektoken/transfers">@geektoken steemit account</a> has over 100 Steem Power which is roughly equal in value to the current cost of creating a new token on steem-engine.com. Along with the comes the <del>curse a wicked witch put on the account.</del> <a href="https://steem-engine.com/?p=balances&amp;a=geektoken">@geektoken steem-engine wallet</a>. All the GEEK currently in it will be going to pay team members but the <del>magical curse</del> other tokens like BEER will be the property of the new @geektoken owner.</p>
<p>Anybody willing to take over the project?</p>
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vote details (354)
@a1-shroom-spores · 
I really like the concept of geek rewards... Why have 2 tokens though?
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@holovision · (edited)
Because after this year no new content will be rewarded with this token.
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@amico ·
$0.03
@ilnegro vuoi prenderti tu in carico l'account @geektoken?
👍  ,
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vote details (2)
@bucipuci · 
Can I use this "stamp" when distributing a GEEK token?
![geek.png](https://files.steempeak.com/file/steempeak/bucipuci/CbyU75Q7-geek.png)
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@holovision · 
It's based on a public domain image so absolutely yes you can. Nice work.
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@bucipuci · 
I have used it today :-). If this stamp suits your intentions, it can be used by other moderators :-)
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@cranium · 
I am not ready to take responsibility, but the idea impresses me very much.
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@geekpowered · 
Tokens do not magically go up in price...unless someone decides to pump them and convince a bunch of people to buy them, because they will supposedly go up. You have to provide a use case to create demand.
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@a1-shroom-spores · 
Blogging is a use case and OBVIOUSLY circulation effects price. Are you going to continually harass this project because they use they the word "Geek." Waaa I cant use the ticker I want.
👎  
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vote details (1)
@holovision · 
1. General market scenarios don't infer magic. They infer economic theory.
2. Just because I don't mention in one post planning to set up an upvote bot that accepts a token or some other projects developers are currently discussing on the steem-engine discord doesn't mean I haven't referred to it in some other posting.
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@miti · 
Congratulations! I just stopped by to say that your post has been selected as a ***daily Featured Post*** of my personal curation project! You can find the daily Featured Post [HERE](https://steemit.com/curation/@miti/mydailymanualcurationfeaturedposts2019-08-03steempalleoggneoxagstemjahm-u8qlpgjfdk).
I upvoted your contribution and I put it on the list because to my mind your post is what I call a *quality content!*
I am @miti, a **manual curator** that shall make available all his Steem Power to authors deserving of support. Let's make STEEM great again!
Have a nice day and keep up the good work!
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@themarkymark · 
> On January 01, 2020 at most there will be 500 million tokens.

> Also, GEEK is more scarce than STEM when comparing supply. 

Umm, how?

In 50 years there will only be around 52M STEM tokens in existence and that includes the initial supply of 10M.  In a year you will have 500M tokens printed as you have said.  

#### STEM Distribution
* 10M Initial Supply (which has not fully been minted)
* ~840,000 created yearly which includes both **Proof of Brain and Mining**.

Your tokens (GEEK, MEME, GOD) are also structured as an ICO and are likely an unregistered security.
👍  
👎  , , , ,
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vote details (6)
@holovision · 
Fair enough about your first argument but in the first paragraph it states: "...Whatever GEEK is in circulation at that time will be the GEEK that exists and will ever exist."

There are a max of 5 billion STEM. 4.003 billion STEM are in circulation (@null has received 4,000,001,856.51803 STEM so we can eliminate that from the equation).  Are you planning to send more STEM to @null? There will never be more than 500 million GEEK even in a million billion trillion years but the math suggests that more than 500 million STEM can exist given a long enough time span based on current factors.
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