Delegation application process? My thoughts.

in dtube •  3 years ago  (Edited)
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I didn't understand why they wrote a kind of, if we delegate to a project, the project after the undelegation should work for a year, really strange statement here :

Projects that receive the highest tier of delegation from this process are obligated to develop and operate their projects on the Steem blockchain for the duration of the delegation and 1 year after the removal of the delegation.

How it can be controled if they remove the delegation from that project, or maybe I didn't understand that well ?

But if they will remove the delegation from @dtube and give it only 1 million, that's not fair, @dtube is working for almost 2 years and it's one of the first applications on steem, they shouldn't operate with it as with others.

If they want to do so just because dtube will earn more, they didn't think about the creators who will earn because of that even less, the price is going lower and with that 50/50 , creators will have almost nothing, imagine that dtube will have 1 million and that's the half, plus half from hf21 , that mean dtubers will earn 1/4 less than now, that;s horrible !

But we are simple steemians and we don't have the power to change things, so we just have to accept that and keep creating, not for the rewards, but just for fun. :(


The problem with @dtube and other projects is that having a big delegation stops people from becoming innovative. Project owners will start relying only on the delegation which is a bad thing since this brings no real value to the blockchain. Ideally, projects should expend and not seek their salvation only by leveraging the reward pool, they need to innovate and find ways to promote their work to the outside world to build a sustainable business that can generate revenue in fiat.

As @joythewanderer already mentioned, people will be less inclined to invest and buy Steem, so instead of a project investing in Steam and powering up, having a free deligation can be very detrimental to the project itself and the price of Steem in general. To be honest, I am more worry about the innovation part, people innovate when they are in need, if STINC is going to give 1m Steem to a project, you can be sure that people will be less inclined to innovate and play aggressively to help their brand take off.

But @dtube is helping steem a lot. Take a look at the last updates and you will see how cool and awesome they are. Now anyone is able to share his youtube, vimeo or any hosting platform videos and earn steem from that. Imagine how many people we have in youtube and other video hosting platform. So, @dtube created a big instinctive to everyone to create on those video platforms and to promote steem. Youtube have the biggest traffic in the world and I'm sure that our videos will help a lot to promote steem. That's why instead of reudcing the power of the usuful app, they could add it more, because it's really valuable.

The project is currently ranking at #27,529. They need to aim for mass adoption and build a system or shall I say mechanism to implement adds and share the revenues with the Dtubers, something similar to Adsense. This is approximately how most websites earn money.

If STINC delegates more to the project this means people will be less likely to explore that idea and the project will instantly die if the delegation is removed. There is a limit on how much the reward pool can provide hence the need for the project to evolve and play on both fiat and blockchain domains.

The Dtube project is a very good one, it would be a shame to see this project dies just because Steemit inc decided to remove its delegation someday. The only way to prevent this latter from happening is to become self-sufficient and only consider delegations as a plus.

The ranking where ? In state of dapps ?

You don't know about the updates of dtube for sure. Do you know that dtube ishaving now its own blockchain as welland we are earning there both steem and dtube coin ? And I don't think it will die without the delegation, we still have a lot of communities supporting it. Whales also can delegate to it. Also do you know the story of @dsound ? They lost the delegation, but they didn't die. Still operating and upvoting people. The same about Those are all the most old dapps and they all should be supported no matter what.

My bad, I was speaking about the global ranking on the web which is an important factor when we speak about how much a website can make from ads.

To be honest, I am not totally sure about Dsound. When the PO announced the news this is what I commented (some projects are still acting the same way.):

To make it short, there was more money going out than value going in. In addition to this, you got too comfortable. I really like DSound, but I would've preferred that the focus was more on the development side. To end with, I think any big delegation from Steemit to a project is a bad idea because this will generate projects-rentier state-like, most of the projects now are just using the reward pool as a faucet rather than bringing value. Maybe it is time to think about a smart media token and get people who really care about DSound to delegate. The delegation From STINC could come back though, but I believe there is a lesson that needs to be learned here ...

The project now is alive only because of delegations, which is why I never liked the concept, self-sufficiency is always better.

Yeah, I am already aware of Dtube's sidechain, a smart move. Maybe this is why STINC is putting that 1 year after un-delegation rule. You know, having a sidechain can be interpreted as a will for independence (another Dlive) even though Dtube did it to gain more flexibility. This is maybe why STINC wants from now on to make sure that delegations must be paired with the interests of the Steem ecosystem.

As for Dsound, I really hope they will push an application to get a delegation and focus this time on development, marketing and ads integration.

It's interesting what do you think about the delegation that utopian get. lol

The management isn’t great and I can't give you many cases of abuse that are happening right now. The STINC announcement is a good thing because the new delegation system will enforce a certain level of accountability and give people a way to complain in case there is an abuse which is not the case right now.

Utopian did fall in the trap of becoming too comfortable, their last decision to shut down the witness even though they were in the top 20 is illogical and done in a rush. By doing so they lost nearly 10k of steam revenue each month. Even the most prominent people in the Utopian community didn’t like the decision nor understood it. More Steem means you can pay more people to sustain the community, you can use it for marketing, to reward people and so forth, the possibilities are unlimited. But I guess having 2m delegation played a role here, people tend to choose the easy way. Instead of becoming more aggressive and innovative, Utopian decided once again to only rely on the delegation.

You know, there are many companies out there that started in the basement of a random guy. The people behind those companies learned something valuable. Because they didn’t have the easy way, they had to constantly learn how to promote and innovate, how to be aggressive and use smart marketing decision otherwise they will be left behind and lose their own money and hard work. I can bet you if those people had 2m delegation on a golden plate without any form of accountability abuse will happen. It’s not their money so they have nothing lose. People are usually more meticulous, innovative and conservative when their own money is at stake. Delegation should be there only to kick start projects, not to babysit them for years, no one will invest in Steem if STINC is always giving up free delegations; why invest when you can get it for free right?

You can see new projects popping out and most of them want just to find the best way the leverage the pool. Any business that is only relying on the reward pool is not a business. The price of Steem will always stay low because the outside world doesn’t care about how the reward pool is allotted, Steem will only rise when businesses who are based on the Steem Blockchain reach out to the outside world. I can understand that some projects try to distribute the rewards to people, but distributing the reward is in itself useless. It’s like buying the allegiance of people by money. What’s the point to give Steem if at the end of the day no one wants to buy it or invest in it? As I said delegation should be used as a way to link this Blockchain to the outside world or we will end up with millions of Steem worth nothing.

If we compare Utopian to Dtube, Utopian is moving a tremendous amount of money out and less transparent about how that money is being used. I was hoping to Utopian could post more information about how the development of "Colony" is going. I can understand that secrecy can be needed sometimes, and not everyone needs to know, but if STINC is delegating a huge portion to a specific project, they must request some kind of reports to know that a specific project is putting the delegation in good use. I still don't understand why Utopian still has only around 60k power even after we take the power-down for logistic purposes into consideration ...

The list is very long, but I believe all the problems we are facing right now can be solved ... I also want to precise that all the information that I gave here reflect only my opinion.

Yea, that said, Dtube is already one of the best projects on steem. I’m actually happy they change direction, build their own chain now. Probably the existing projects on steem kinda prove delegation system just simply won’t work? I could have powered up a bit more but just lose faith day by day.

I agree most with you. Dtube is so far one of the very fews that have potential to onboard new users from outside steem. How can they decide, abuse or not, it’s kinda hard to control i guess. I’m not sure 1/4 is the exact calculation, as algorithm changes too, can be much better than that percentage.

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