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RE: Yours.network | A 'Steemit-like' platform that uses Bitcoin | Built by a reddit guy

in #steemit8 years ago (edited)

Some really good points here. I think I need to go and meditate on this stuff.

What I am most curious about yours.network, is how are the upvotes weighted etc. Is it a straight linear line, based on how much BTC you hold in your account with them? I see a lot of people here on Steemit complain about the whales, the 1% (not me, I love the whales). Save the whales. lol.

I think depending on how that is handled over at yours.network will determine how much of an impact it has on Steemit, because from the various bits and pieces I keep picking up on, this is their biggest gripe with Steemit (again, not my opinion).

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As far as I understand it, you preset your tip amount with a slider of sorts under settings. I'm sure early on there will be whales tipping large amounts of btc to quality creators trying to get them to stick before tapering them off.

The problem with Yours is that their profit model relies solely on fees, else they want to introduce ads or track people's data. Steemit doesn't have to worry about any of these things. Steemit will just cash in its Steem when the company needs liquidity.

Since the value of Steem is essential to their profit model, short and long term, coupled with the fact that they hold the majority of tokens, together means that they have every incentive in the world to increase the value of Steem in the longrun. They do this by building out Steemit to become a hub of sorts, while enabling additional Steem apps to emerge across the Internet that exist in tandem with Steemit.

To me, that is the gamechanger in our future and what really has me so passionate about what's ahead. It's way bigger than blogging.