Also, it might be such a dramatic change that crypto people that have long forgot about steem might reconsider using it. #newsteem

`if Steemit.com is really to be 'just another app on steem' it should probably have its own token just like the others will...`

Totally agree on that.

That's 10k of Steem a month. The answer is quite obvious I think.

This is making me want to become top witness so I could veto these short term, irrational panics from potenially ruining Steem. Inflation gradually goes down, which is why it is such a good long term investment; and they're talking about ruining it all because the price is low right now.

Actually, it doesn't take much away from steem. The steem could still be farmed by witnesses and we could make it so node operators also can mine steem and sbd.

Just kill the inflation to below 5% and golden. This doesn't make the token any harder to implement as a currency in sites. It makes it more likely to create buy pressure. As it has on eos and eth.

Especially if people need to buy steem to get smt's and power up for smart contracts.

Steem will still need to be distributed because of the requirement of RCs to use the blockchain. How it gets distributed will need to change though. Honestly, the current method of distribution isn’t the best and with HF21 it is going to get focused on a few top authors anyway, which doesn’t exactly help the situation all that much. 

I could make an argument that Steem price stability is what will matter most to venders. A price that fluctuates up and down as much as Steem does is too risky for venders in my option. How do you know how to price items if the next day it drops 10%? Could you imagine if world currencies shifted like that day to day? Steem could be like the “global SMT reserve currency”. It will be trusted more than an individual SMT and therefore will be the currency of choice for traders and merchants, etc

It might be too early but I just wanted to see some discussion on it to get that ball possibly rolling. I have heard the EIP has been in discussion for at least a year.

I wrote about this too, but in a different way, as steem becoming the central bank and that *everyone* then has a direct relationship with that source. Not like the rest of the world where central banks only deal with their bankster friends leaving the masses with cake crumbs.

Communities and SMTs are great, but *their* tokens need a base coin to form a meaningful exchange rate. Otherwise both coin and tokens will be worth nothing.

They could either buy more or sell, just like any other coin. The great content creators will be rewarded according to their communities, which likely are much better at deciding the value of that content as opposed to everyone all sharing the same reward pool and fighting over where it goes each day.

You are correct that bitcoin’s price suffered for a long time but it suffered during a time where it had no competitors. Today, competitors are forming everyday and companies/apps/developers are currently picking blockchains to call their home. We want them to pick Steem. That is why there should be a rush in my opinion. We need forward momentum. Anything else is bad longterm. We don’t have the luxury of time.

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.

Yep, my thoughts as well. It sounds much more sustainable (and logical) than what we have right now.

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.

so you basically offload the workload to your clients ... but in very nice words ... that's pretty smart, yes , if they fall for it :)

Well now, allow me to elaborate a bit on myself as the @rudyardcatling in me has neither the patience or RC to do so ...
Apart from *how this sounds* (ask not what you country can do for you etc ...), i think, once more you are *gravely* overestimating both will <b>and</b> ability of said masses towards the desired incentive.

Did you actually, any of you high level titans or steemit itself, *actually* look around in your own ecosystem here ? 
You can count the real entrepreneurs on one or two hands ... There's a very few people running real business directly off of the steemchain like for instance your blocktrades and your Ultimatt the Unbeatable and a few others (but they still seem smart enough to run it in a way where revenue is *not* directly linked to the steemprice. Other than that you get the bulk posting dailies, small short posts, hoping for a hit, and you *also* get a lot of people with a fair to decent to a lot , amount of resources who just go about posting and *talking about it* 

Hence, your lovely masses there ? if you draw the line and you are *real about it* , what you need is partnerships for PAID service and *real* investors with *real money* as five paid service partnerships and/or five investors with real money will net you tennex money compared to five million plankton-of-the-masses.
Look around and give it some thought please, the demo is right under your nose here on steemit.com, it's my sincere opinion that you gouge that all wrong, both will AND skill , and also

What will you do if the masses come and start posting like crazy as if this were facebook ? Put a handbrake on steemcleaners ? (lol) ... or maybe have walled-off communities with border-patrol-police who each fight their own holy-content war because bulk brings on average less quality but *is much needed* for the sales ... the numbers

I'm not mister negative, i'm mister real ... do consider what i say seriously for a moment, please @steemit @steemitblog

> This is the best proposal I've seen here in years.

***Really? @furion***  ¿no kidding?

@sepracore: I know you just wanted to see some discussion on this subject. And I certainly celebrate this initiative. I did read each and every comment along this post. However, after having done that. Now I can't help but wonder what religious beliefs you or @furion are both of you using to feed and nurture your faith perspectives.

By chance, from which [devices](https://steemit.com/philosophy/@por500bolos/the-stratagem-my-short-reply-to-denmarkguy-tarazkp-and-theycallmedan-recent-posts) are you both more devout?

From those born out of Hinduism? or from those born out of Jewish thinking? :)

This has been proposed many times by myself and others over the past year.

It would also turn this into a centralised chain. The opposite of what you claim.

A utility token should be useful - where is the utility in a coin that only pays its miners?

You are delegating to a account @mmmmkkkk311 who is downvoting me for nothing! So I will downvote your posts of course!
Best regards!

I agree with you. My worry is getting those millions of users in our current environment of falling prices. I understand a lot of crypto is in a bear market so maybe it will turn around with time. Communities and SMTs should help but right now it is empty around here. Those who have drank the steem koolaid communicate elsewhere on places like discord so to new users it seems like there is not many people here.

content creators would get paid with SMTs, such as palnet, where that community is able to best judge the value of their own content. Spambots would be reset in many ways because Steem would only be good for RCs for the most part. If someone wanted to build a community specific bot, they would have to acquire alot of thst SMT through purchases or have it initially setup that way.

I agree at the moment but could be convinced otherwise. Any major change has unforeseen consequences but something along these lines seems necessary to me.