RE: Growth Idea - From Crowdsourced #Growth-Ideas to Crowdfunded #Growth-Projects by thecryptofiend

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· @thecryptofiend ·
$0.13
>Wait...you are okay for the network to pay a % for memes and articles but you are not okay with the idea that the network could fund marketing or devs?


Sometimes you make sense and sometimes not so much.  

Marketing, development etc was exactly what that fund was supposed to be for - if it was running low I might understand your argument  but there are almost 100 million Steem in that one account alone - calculate how long it would take to equal that from the rewards pool. 

Plus if you divert funds from the daily reward pool you can pretty much guarantee that people will start crying scam.
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@cryptoctopus ·
$0.04
1. If dash and bitshares does it...why would people scream scam? It's a proven model.
2. What if a project doesn't align with Steemit INC interests yet the community wants it to go forwards? What if Steemit INC approve of a project most people don't agree on?  
3. If you want decentralized decision making for the funding projects, you cannot have that done through Steemit Inc holdings. 
4. There are tax considerations too when it comes to touching those holdings.
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@oldtimer ·
$0.09
O.K. I give up. It's way to complicated for oldtimer like me. Thanks for answers. I learn something new on steemit every day. And that's good.
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@kevinwong ·
$0.12
Lol i'm a relatively youngtimer and i still find it too complicated. It's not a clear-cut situation afterall..
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@thecryptofiend ·
$0.12
>If dash and bitshares does it...why would people scream scam? It's a proven model.

As far as I know and as I stated earlier those Steemit funds are there to be used for promotion (amongst other things).  

If Steemit Inc started asking for money from the reward pool for that you can be sure people would start complaining and those who already call Steemit/Steem a scam would use this to justify their accusations.

I'm not saying it should never happen.

Once those funds are depleted I can understand it but right now I'm not sure it would go down well - I could be completely wrong though of course!

>If you want decentralized decision making for the funding projects, you cannot have that done through Steemit Inc holdings.

I'm not sure why - what is needed is a way to speed things up and that could be done technologically - in either a decentralised or centralised manner.  

I suppose the way of doing it would be to create a new account which would be controlled via a smart contract and transferring a certain proportion of funds there.  

Once those funds run out and assuming the community is willing then the reward pool idea you suggest could be implemented.

>There are tax considerations too when it comes to touching those holdings.

Not sure about that - Steemit have been using those funds for development already.  If it were such a problem how would they be able to do that?

Anyway I do like the idea I just think the funding thing would need to be considered very carefully.
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@cryptoctopus ·
$0.04
I agree that it should be considered very carefully. A smart contract would be the best way to implement this. Steemit holdings are controlled by Steemit Inc. I agree that if Steemit INC would divert funds from the network and own a secondary account to fund marketing, it would be seen very badly. 

But if it is done as a form of DAO via a hardfork that makes it independent from Steemit Inc. I think it could look fair without people crying fowl play.
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