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

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· @cryptoctopus ·
$0.04
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? 

Also, those fund that steemit inc has are limited and they are not being replenished via inflation...this is not a sustainable way to go about funding marketing.
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@oldtimer ·
Reward pool supposed  to be for authors and curators.  I think so, but maybe I missed something here.
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@acidyo ·
Well that's not 100% true, since it can be used to fund projects and current existing ones as well. @steemcleaners for instance relies on posting once per day to reward the daily contributers.
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@oldtimer ·
I understand and agree, but my point is if we use reward pool for other stuff there will be less rewards for authors and curators. If steemit want on board more people that is not the way to go.
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@cryptoctopus ·
it's also right now for arbitrary rewards (content platforms built on steem) and witnesses. It doesn't have to be big. 1% of the yearly reward would mean a few hundred thousand dollars to crowdfund grassroot projects.
 
If we use Steemit INC holdings, then they have to personally approve every single project rather than having the community decide.
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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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@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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@acidyo ·
$0.57
Why not both? Is my thought.

And you are right, the funds are of steemit are limited and scarce in general anyway cause of the limited reward pool and inflation, that's why we as a community have to be careful of the plans a head of us and how we will fund them. 

But with every step and every funded project we should also be seeing results over time which often drive the price up thus steemit's value and the daily pools payouts should increase and make bigger projects possible. 

I am sure I am not the only one that would be open to choose a % of posting rewards from the pool to fund projects I am interested in and believe they will do good for the growth of the userbase. But doing both would be most effective- funding for example to get a quick start to some projects could be good from steemit, but then make up plans for monthly payouts or checks from either active posting while bringing some content or blogging about it, sort of like Patreon just through rshares.

Anyway, something I am looking forward to is funding project that are open about their funds and what they do with them, I know I myself have started some minor projects that have either had a quick death or there just hasn't been enough activity, but with the downtrend for so long its not surprising that more and more people didn't bother helping out or just going afk. Having said that I don't want the platform to make the same mistakes as before where they go "oh look we are at 4$/steem and a lot of people are joining that might or might not help spread the word about the platform - here 10k $" but instead reward and use funds to those that are open about everything they do for the platform and can provide some sort of proof to it. Cause the worst you can do with the funds both from Steemit and the reward pool is having users receive a lot in the beginning and then going AWOL knowing their wallets are cryptographically secure.
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