The Value of Content: Not so BlahBlahBlah Thoughts :)

in GEMS9 months ago

Recently I was approached with the question if I would consider to support the APPICS team to build out the APPICS community in my own country and local language. Nothing decided on that front yet, but it got me to download, install and register myself on APPICS.

My first impression of the App is GOOD. Yes, with capital letters, since I liked what I saw. Unlike many of the STEEM based services and front-ends, the APPICS team took great efforts to design the user interface. The layout looks good! It works very intuitively. Many of its features are where one would expect it to be.

What is APPICS? It's very much like Instagram. It allows images and (short) video uploads and one can add text to the media as well. Likes (upvotes) are supported. A comment section is available.

It took me a few hours before I decided to make my first - and till now my only - post at APPICS.

The main reason for my hesitation is the fact APPICS uses the STEEM chain to store the content, ie my post through APPICS ends up in my STEEM blog channel. That in itself is not the issue. The issue I have with using the STEEM chain to store the content, is the fact APPICS posts also triggers my auto voters.

Note: not sure of APPICS run their own content store and also post to the STEEM chain, or the STEEM chain is the content store.


published by Online Marketing Blog (source)

In the early days of STEEM, some experiments with Instagram (Steepshot) and Twitter (Zapple) like services took place. I tried all of them, back then. Also these services used the STEEM blockchain to store content. And like APPICS does today, also Steepshot and Zapple ate from the same reward - master chain - reward pool. I thought I voiced my concerns about Steepshot and Zapple using the same reward pool through a post, but I was not able to find one. But, I did find - thanks to eSteem Search - a few comments regarding this topic. In case you are interested: one | two.

Shall service of different nature, use the same Reward Pool?

A question I asked myself the moment the first none-blogging App emerged in the STEEM eco-system.

It didn't took me a lot of time to reach the conclusion that each service type shall have its own reward pool and shall not be linked to the reward pool designed for another service type.

I specifically talk about "service type", instead of "service". A service type is for instance: Article sharing (eg Steempeak, PeakD); Media sharing (eg Instagram, Appics); Short message sharing (eg Twitter).

Each service type has its own dynamics, it own ways of content creation as well as consumption. Each service type will also has its own way of deciding the value of content. Though you could say: Value can be set regardless of content type, the real value of content is more or less in sync with the effort and cost to create the content. A book is of higher value to the user, than a magazine article. A magazine article is valued more than a news paper article. While a news paper article is valued more than a news paper column. All to do with the time spend to create the content.

..back to Auto Voting..

When the auto vote value is low, this may not cause a problem to have APPICS post on the STEEM chain. But when the auto votes are either large in size, or the sum of auto votes to a particular user is large, this creates a problem for the economy around the blockchain. Essentially, long form bloggers taking hours to create a single blog post, may like to see more value from the reward pool going to long form posts, and not so much going to a post with an image with optionally a little bit of text.

In recent weeks I've read a few comments by existing STEEM users and some of the new community witnesses mentioning APPICS - amongst others - in relation to ripping the STEEM reward pool. They have a valid point in my honest opinion. I've seen STEEM users starting to create super quick APPICS posts and receiving 10s of STEEM Dollars each; Much of the rewards as a result of auto voting.

One could say: Auto voters will review their vote follow lists regularly and adjust accordingly. This may be true in theory; In reality, I do wonder if many of the users review their auto voting user lists regularly. I've seen users - with high vote values - auto voting for authors after a user gone 'bad' for months to a year and more. A few times I alerted the auto voter stating she/he was voting continuously for users cutting corners (eg recycling posts from the past, copy/paste from other sources) with the result - in all cases - the reported user was taken from the auto voting list. At all times, the auto voters I approached, reacted with: "Oh Really, I didn't know that! I'll have a look into it."


published by APPICS

Short term Solution

For the time being, I think I have a simple solution to be able to use APPICS, whilst not 'abusing' my auto voters. I simply create a new account at the STEEM chain and use that one for my APPICS adventures. Just need to figure out how to get a new STEEM account, since all the usual applications supporting the creation of accounts, don't seem to work anymore on the STEEM chain. Anybody?

Thoughts

Let us think about this for our STEEM eco system. We need SMT sooner than later to give a tool to create a unique reward pool for service types and even specific services. We also need to decide if we want to continue distributing STEEM to content creators and curators as we do this today. That said, I would like to see STEEM being distributed to not only developers, but also to curator teams, and other - none technical - activities, even in the case STEEM will not be used to directly rewards content creators and curators (voters).

What Are Your Thoughts?

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This is why I created the @remlaps-lite account when I started playing around with zappl, steepshot, dlike, and a couple meme sites that I can't remember now. I didn't want to spam my blog followers with short form content. It's also one reason that I haven't signed up for appics yet. I haven't decided which account to tie it to (maybe I overthink these things... ; -).

On the other hand, I'm in no rush for SMTs. I always wondered if Steem-Engine tokens were putting an anchor on the price of Steem, so, as the steem-engine tokens emigrate to Hive, I'd like to see what happens to Steem's price (after the current wave of powerdowns finishes and gets sold off...)

Here's my reasoning. If there are X dollars pooled to invest in the Steem ecosystem, and if that amount is divided by the number of Steem tokens, it gives one price. However, if the same X is divided by (the number of Steem tokens + Steem-engine tokens + SMTs), it gives a much smaller price for each Steem token.

Also, I think I read in a recent appics update that they're planning on creating their own smart contracts, so they may not need SMTs at this point.

Unless an SMT or steem-engine token is attracting new investors, it might just act to dilute the price of Steem. And it didn't seem to me that steem-engine did a whole heckuva lot to attract new investors.

In the long run, I think SMTs will be good, but I'd prefer to let all the recent turbulence settle out for a while first.

Dont overthink to much on user for APPICS. Either use your lite account, or create one that says apx in it, or whatever, but keep remplaps in it in case you like to world to be able to link the various accounts. Any idea how I can create a new account on the Steem chain, BTW?

SMT: I dont think it'll dilute Steem, but I do think most to all SMTs will have very low value. The value will be in the base coin, Steem. SMT is required to transform Steem into a more or less general purpose chain. Currently its a social media chain with too many different social media type of services connected to it. And yes, it also powers games, but to be black/white: These games are only using Steem to be able to connect Steemians to their projects ad well as to have some earning from the Steem reward pool. I Don't think that should be the case though, since we are far away from Steem being a kinda US$ or Euro, ie a general purpose coin. At this stage, Steem shall be the home of social media services, and maybe only blogging services as the service type I was talking about in my post. But hey, thats just my humble opinion :) But, this opinion is fuelled from the strong believe a service have much higher chance to become successful when focus is applied. Let us focus on blogging for Steem is my view. That essentially means, getting rid of all the none blogging services. Before all these other services came onboard, I was already asking witnesses to prevent none-blogging service onboarding, but all of them said to me: "We can't block any service to come onboard; Everybody id allowed to do whatever with Steem chain and Steem what they want". In my honest opinion: Quite shortsided. But hey, again my humble opinion :)

honestly I've never consider this topic but it seems like quite interesting topic for the future of whole platform. It is quite difficult to compare efforts and fairly reward for their work researchers and insta influencers or wannabes. Both types of people are important, but both of them will have a problem to co-exist in the same place and they will probably seek for a proper platform for themselves. If all of them are meeting in the same core and rewarding system, how to adjust it properly

When each service type, or even service, has their own reward pool, it is like they have their own blockchain from rewarding perspective. SMT (Smart Media Tokens) brings the feature of creating tokens on the Steem chain, like steem-engine does, but then integrated into the Steem chain core. Next step is to remove Steem distribution to content creators and curators; The blogging service type shall get its own SMT as well.

Personally, I would like to see each service type to use its own blockchain, and not allow all sort of different services and service types to use the same chain.

  1. Most to all chains are to slow to be able to massively scale up in usage/transaction
  2. Chains will be connected to make content transfer and coin transfer easy
  3. Each service type has its own chain features to optimise the service (blockchain is a database with parameters in it; the service defines what parameters are needed). I never heard of general purpose database definitions. Some say: a Blockchain is a database (distributed database to be more exact), and to some extend they are right; But a blockchain is a configured database. Ie it is not like MySQL, or Microsoft SQL, but it is a database designed for a particular service, like eg MySQL configured for Salesforce (CRM service), or Microsoft SQL configured for Dynamics (ERP service).

When each service type, or even service, has their own reward pool, it is like they have their own blockchain from rewarding perspective. SMT (Smart Media Tokens) brings the feature of creating tokens on the Steem chain, like steem-engine does, but then integrated into the Steem chain core. Next step is to remove Steem distribution to content creators and curators; The blogging service type shall get its own SMT as well.
Personally, I would like to see each service type to use its own blockchain, and not allow all sort of different services and service types to use the same chain.

I can partly agree and disagree with you. I think that it will make everything a bit more difficult because will require more wallets, more sophisticated passwords and more accounts which are unable to restore after random issues. It will also generate even more useless coins. When I turn on my steem-engine, everytime I see some new incomes, random tokens which, honestly, even do not know how I earned. I do not know their purpose but know the value, which is close to nothing. In my opinion it is good that all of them are integrated with steem and at the end of the day we can monetize it into the coin which is someway useful, recognizable and worth. It is also more convenient to use keychain and login everywhere with one click
I think it would be nice to see each service type as a part of Steem Blockchain but using only its own token and not providing any steem/sbd rewards. We could only trade them on steem-engine.

More coins may indeed mean more coins without value. Today many of the coins in steem-engine doesnt represent a service, but more a topic, or community. Lets have the communities work with the same coin, but let each service or service type have their own coin. When the service becomes successful, the coin can be a valid one. I suppose in the end the coin value over time will determine if a certain service can be successful in the blockchain world.

Well... I cannot disagree with you. You're right in this ;)

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