Viewing a response to: @yabapmatt/ptmlbl
The tokenomics of any project is the magic part. When it works, no one can really say why. When it doesn't work, everyone has an opinion why it failed. Ultimately, all financial value is a form of speculation on story telling. I think Steem as a blockchain and a cryptocurrency could tell some really compelling stories which investors and speculators will value. I think it's had this opportunity for quite some time. I hope that story develops. This post here is the primary reason I was so excited about Steem: <a href="https://steemit.com/steem/@dan/steemit-s-evil-plan-for-cryptocurrency-world-domination">Steemit's Evil Plan for Cryptocurrency World Domination</a>. I still think it's possible.
| author | lukestokes |
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> I think Steem as a blockchain and a cryptocurrency could tell some really compelling stories which investors and speculators will value I agree with this, I just think the value is not in the "proof of brain" concept itself but rather in Steem being the platform to power other applications which may or may not use "proof of brain". You say that doing the same thing over and over and expecting different results is insanity, and that's how I see this EIP. We can mess with reward curves, percentages and voting pools all we want, but the end result will be the same. There is no magic formula that will change everyone's behavior and prevent automated systems from being able to "game the system" in a more optimal way than a human can. Let the different apps deal with that and set up their reward systems how they think is best and we should focus on how building on the Steem blockchain can let them do that more quickly and easily than anywhere else. That's a story I know first hand that investors will value.
| author | yabapmatt |
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Funny, I was leaving <a href="https://steemit.com/hf21/@lukestokes/ptnmq9">this comment</a> at the same time you posted yours. I agree with you. SMTs and the work you're doing with Steem Engine may have been an important piece of this system's success from the beginning. Without it, there's no experimentation or growth. That's certainly one of the stories we were sold early on. The downside of that story is it may mean the STEEM token itself has no real value other than serving as one example among many of what may not actually work well economically compared to other cryptocurrencies. Maybe cryptocurrencies, like healthy life, need to reproduce. I explored that a bit in this <a href="https://twitter.com/lukestokes/status/1134080636237549569">Twitter thread</a>.
| author | lukestokes |
|---|---|
| permlink | ptnn68 |
| category | hf21 |
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That doesn't meant that STEEM has no real value! STEEM is the token that powers the platform. It was so much easier to build Steem Monsters on the Steem platform than any other blockchain platform I know of, and to be able to do that we need to have a significant amount of SP available to make sure all of our players have enough RC to play. SP is our fee for building on the platform and the bigger we grow, the more we will need. Appics wants to create their "proof of brain" content platform - they can do it on Steem where (in theory) it will be just filling out a form and hitting submit or they can do it on a general purpose platform where they have to build the whole thing from scratch. Many will choose Steem, and they will all need enough SP to allow their userbase to use the platform and receive their rewards. We already see there is demand for this type of product (appics, VIT, scorum, etc). This is how STEEM can be big. This will sell to investors and speculators.
| author | yabapmatt |
|---|---|
| permlink | ptnnpu |
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