thank u

the explanation is very complete. Thank you for helping us to better understand the world of bitcoin

I think the byproduct of securing the blockchain should be more STEEM POWER. And the ability not to sell STEEM.

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My issue with steem is the current powerdown model is broken.
Shortening it to 13 weeks made sense, but allowing people to vote with all of it while on powerdown is a problem. Basically it allows you to maximize liquidity by having 1/13 of your SP available on a weekly basis. Combine it with bidbots and the system is as broken or more than POS. It's also got a serious learning curve to figure this out which is off putting.

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Hello Dan, your videos and writings are something to reckon with!

Thanks for this comprehensive analysis. 

Straight to your question:

For me, DPOS (Steem) = More coins, Content, Effort + Creativity remains the best! 

I have my reasons; in my country, we hardly see constant power (electricity) therefore if it’s all about Bitcoin, then I shouldn’t be found in crypto space. 

Steem procedures are friendly to all!!

# Yes! We call you Dan.



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Talking about byproduct problems forsecure my blockchain, I  unsuccessfully here, because I only mine bitcoin from the steemit application. Not many coins that I can produce because my SP is still too low plus I don't have much relationship in Steem. maybe if I have a lot of capital I will buy ETH, EOS and TRX. I am interested in the coin. I think the coin-coin is suitable for securing the main coin, bitcoin.

Listening to your thought process was a real education in Blockchain. In regards to the question I feel a little out of my depth but I'll put across an opinion.

I'm obviously biased toward steem and dpos as my biggest investment in this crypto space is time/content, and I'd say half the total value of my portfolio is in steem.

> DPOS (Steem) = More coins, Content, Effort + Creativity.

You hit on something that I think is unique with steem, which is that something we recognise from outside the crypto world (content) is produced through the economic process. It is for this one reason that I'm still convinced steem - or let's be realistic possibly another crypto content platform - will lead the drive toward mass adoption. Also, there is the energy consumption question, but I'll leave that one for now.

The only other scenario I can envisage for driving mass adoption of cryptocurrency, is if some previously unseen Blockchain usage is discovered, which offers that mass appeal utility.

Obvs transfer of value (currency) is the main use case of crypto. But, seeing the recent IMF blog about how they want to eliminate cash to allow for easier manipulation of negative interest makes me wonder if they're not going to create there own (centralised) Blockchain ASAP.

Unfortunately, I think that would eliminate the chance of a truly decentralised global currency as the sheeple would just use IMFcoin. But with content creation crypto platforms (like steem) creating a clear incentive for the masses to engage with the crypto economy, even the IMF couldn't herd people believing they only have one centralised choice.

Ha ha, but I've kinda strayed off topic a little. This is all hypothetical.

I generally don’t get too in depth when thinking about the different blockchain and steem until someone like you start discussing it. 

I do like the community/artistic/activism/social part of the rewards system for what it is becoming, and how open it is to evolve. Evolution is one of the fascinating concepts for me with steem and the eth-like platform for fuelling more tokens while always having a value itself is pretty special. 

When curating, I barely even consider the rewards there. It is a way of both networking and supporting the people I choose to support. 

So, I will resist getting into the semantics and force myself to evaluate the overall business virtues from the perspective of the regular person. Mainly because I believe the launch from early adoption to early majority will hold the most opportunity and upside. 

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Great post Dan. I also believe that SMTs will first be website specific as every Dapp owners wants to launch his own coin now. But eventually, I believe that the we'll see the real power of SMTs through independent currencies that every website can use. 

The reason is that social media platforms maybe need their special SMT, but most Dapps (gambling, gaming) can just use any token. So the best currency will win for those dapps.

Really enjoyed listening to you Dan

Distribution is key and we want STEEM in the hand of many. (More people to have skin in the game)

Our Blockchain is one or two Tweaks away from becoming the next BNB 

And we need more long term players

This is an interesting approach to explaining the byproducts of coin creation and what sets Steem apart from others. To extend this, I would like to share an idea. Something that Steem lacks and SMT can help with.

**Consume Token Economy.**

What Steem eco-system lacks is rewarding content consumption, time spent on consuming content, playing games, watching videos, etc. So, it would nice to have an SMT that is solely focused rewarding on content consumption. No posting, no commenting, no voting, no resteeming; only consuming content.

The majority usually are content consumers, rather than content creators. Since platform mainly rewards content creation, content consumers tend to become content creators. I understand there are curation rewards. But these rewards require stakes. Majority of content consumers, especially new users will have low stakes, hence curation rewards won't do any good for them.

A solution in my mind is to come up with a system or an SMT experiment of implementing rewards for content consumption. It would require some genius programming skills, networking skills to implement that. But I think it is doable.

For the sake of this thought process let's call it a CONSUME token. Following is how it would work:

1. Initially, CONSUME tokens will be issued/airdropped to all Steem holders. It will have an inflation the same as Steem. So as new Steem is created and added to the Steem reward pool, Consume tokens will be created and added to the Consume reward pool.

2. Users who are passive and are not consuming content(defined by its algo and protocol) will lose CONSUME tokens as time goes by. Sort of an individual deflation. These tokens will be added to the Consume reward pool.

3. Consume tokens will be distributed to users based on the users' content consumption levels. So users who actively consume content will automatically be earning Consumes.

4. Content creators can promote their content with Consume tokens. They send their Consumes to @consume account and they will be distributed only to users who consumed their content.

5. Apps & UIs can also use Consume tokens to attract users to use their platform. For example, Busy, Steempeak and even Steemit can send Consumes to @consume-ui on a daily basis. These Consumes will only be distributed to users who consumed content on their platform. Even gaming, video, livestream, and other entertainment apps can take advantage of this and reward their users. 

I have more thoughts on the implementations and benefits of this kind of Consume economy. These were just outlines.

Long term players with a long vision will help them to have good returns of their investment for sure and if the blockchain relating to future gen blogging we also will conserve good content.

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I think the best we can do with distribution is to get back half of what’s given out under a minimum amount of work, curation. I’d argue that it’s the only other mode of distribution. Any other setup would collapse into a mode that doesn’t promote distribution. 

Assuming that 6-degrees of connection (from the study of six degrees of separation) is enough to reach the depths of any social network, the end of the line would be receiving 50%x50%x50%x50%x50%x50%= 1.5625% from the top player. A simplistic view without social mobility and all that, but just this consideration is already pretty good if contrasted with the distribution that happens anywhere else. But of course, Steem ain’t there yet with the current misaligned economy.

DPOS Is the way to go... I agree with the 50/50 ordeal. We need to test it out in my opinion 😎

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Heh, we need to get you an intro that you can play right after you say "Let's talk about it." Got anything in mind? I might be able to whip something up for you! ;)

Think that curation is critical to the entire system and it's why we put so much effort into just that.


But if we are starting over and doing things right there are some things that would be changed for sure. 

How distribution started off was flawed from day one. Way to many coins were distributed early on which leaves the reward pool much smaller now and in the future. A more balanced inflation system would have made more sense IMO. 

Due to the way coins were distributed early on we have to large of a percentage of the coins in the hands of the few and this isn't conductive to stability in price long term. Manipulation is ripe when a few large accounts can cause massive price swings without even putting a large dent in their holdings. 

The creators and those on the team should always disclose what accounts they own and all outside holdings. I come from a financial background and the shady backroom nature of how things are done in the crypto world keeps me from investing to much. I invest a ton of time and have put in thousands (bought at the wrong time, and even sold a car for steem) but would invest thousands more if I truly felt like I had an understanding of who really controls the liquid steem and the power accounts.

There is more then just these things, but feel like it will turn into a post vs a comment. But lets just say this if the programmers could stop trying to appear smart and remember KISS we would have a much easier time attracting the masses.