@Alexvan Asks: Are the tokens on Steem Engine creating value? Are they worth something?
I responded using the @adsup account, but wanted to turn it into a post:
The value behind the tokens is clear to me as they can help with several issues
It's always been my view that the Network Effect... where people gather an economy occurs. Get people here and keep them here, others will come to trade and engage. An economy will develop. It always does.
Here are some additional thoughts on how the Tokens and Tribes are helpful and Communities and SMTs will just add to it.
It is something new of interest and at least a little value and that keeps people here and engaged.
Target Audiences, I think this is the most important factor. If you start a token that is based on Investing like in the case for SteemLeo, the users don't have to filter through cat picture to enjoy the site and engage with their topic of choice.
It is called a vertical market in advertising. Meaning those who have something to sell would be able to enter into a "Warm Market" they can do this with ads but they can also do it with posts. For instance: I am launching a new business that supports traders in some way, marketing it on SteemLeo would be a better investment even though there are less people, because I know I am reaching my target audience and not the cat lovers. Marketers tend to pay more for this.. It is a standard business model that works.
This also comes into play for finding new users. If someone starts a gaming site, they can easily target those who play games, without having to first filter through the crypto audience.
User Experience: Each site over time can be customized to the various communities and their own users.
Distribution and Moderation: We know that the current distribution of Steem eliminates real content discovery and there is no consensus on what reasonable moderation would be. These problems can be solved at the Tribe level.
Protection against deflation, many stakeholders are stacking or selling and not adding any value, I can keep some of my stake protected from those actions while still staying involved in Steem.
While I acknowledge many of the tribes will not be successful, some of them will and yes they will add value.
Many of them already are.
Complety agree!
Like in any other theme, some projects will have success some not, poeple will decide.
Tribes and communities so far are taking activity and enthusiasm to Steem.
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Steem all the way baby!
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Would you be surprised if I told you that a large % of users are either trying to milk LEO tokens while their posts have absolutely nothing to do with investing - economics etc, or they are just bored of reading the basic guidelines of Steemleo community and use that tag anyway...?
And my guess is that it's happening everywhere...under every tag...but apart from palnet / neoxian and a couple of other tags most communities want their tag to be used wisely...
No I would not be surprised.
I do think those communities that do not moderate are missing the boat.
Steem's low standards will have to be put in check by the tribes.
Don't buy the tokens that are not moderating.
Every single one of those posts - that have nothing to offer in economic terms- have their LEO rewards taken away by the noleo4u acc. All of them.
It's just that people don't get it...or they do get it but trying to game the system, why would you post the photo of your cat or your actifit report under that tag? There is absolutely no reason to do so....yet...
PS. Speaking of Steemleo I do think that it's a great community and one of those that will eventually shine
It is always going to happen to some degree but the early tribes are getting bombarded. As more come online, it will start to thin out, hopefully.
I would expect some of the newer tribes have a lot less of it.
Good to hear, I use the tag but only if it is relevant. There are others I'm not sure about though.. ZZAN and SCT spring to mind. Are these generic ones or not?
Do what #STEM does and simply make it so stuff like Actifit, DLike, etc. to not show up and eligible for rewards.
will flag shitposters until they hear my name in their sleep.
#noleo4them
Sound over-optimistic to me.
There should be an army of moderators, probably 20 or 50 such @noleo4u accounts in oder effectively stop this abuse trend.
My guess is - a major part of this abuse still flies under radar .
It most certainly does add value, incredible value.
The biggest thing it does is it spreads out influence.
Without the different tokens, each community would still be determined by the SP holdings meaning a Steem whale is a whale in every community. Now, that is not the case.
Most likely mods are the new whales...everywhere...
But hey...they worth it too...They have put in tons of hard work for years.
It is good for his tribe to define their niche and audience because this will leads to improve community platform of like-minded persons to interact and learn from each other @whatsup
I'm seeing posts with at least 3 tags for these 'tribes' and more tokens are appearing all the time. It's all getting a bit crazy. I see some good in that on the different sites there is a chance that trending will actually be relevant as it is harder to game it, but of course people will try to abuse the system. If they are not moderated then the value goes down.
Im not a tech head, but how long is it until we have AI infulencing moderation on high scales to be used on here?
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In the early days of steem when we had 50/50 curation/author someone did have an bot that tried to calculate which posts would be the best to vote on... based on curation rewards. :)
I'm not sure past that.
I watched a few vids on machine learnjng and all it takes is data imput, it could maybe be possible to use allll the spam posts and/with misuse of tags and keep inputing it until the AI learns that an actifit post shouldnt have a steemleo tag (unless its a post talking about AFIT tokens and delegations ect)..
Each month or maybe every week, I realise how early we are, whilst the masses will only now soon be shown crypto via libracoin.. We are so early 😂
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It's an interesting dynamic. I think the value of the tokens will be determined by the curation strategies of the high-rollers for each token. It's interesting to think that a Steem post could be flagged to oblivion, but still have high value via one or more steem-engine tokens, so it might defang some of the Steem flag-warriors a little, or at least make the game more expensive. OTOH, it also creates new avenues for spammers and plagiarists.
It also changes the strategic and tactical decisions that Steem voters might want to make. I'm definitely curious to watch it all play out. In the end, I think along the same line as you, anything that brings eyeballs adds value, and I think these tokens will bring eyeballs.
Agreed! Perfectly stated.
I love that you can get flagged on one platform and not another, but trying to manage a bunch of voting power on each one is a huge pain.
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I for one am a bit excited to see communities grow. It can help you filter your own feed by your interests..
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Whenever I think about these Tribes I see huge potential! We can create so many things with this implementation!
Thank you for your answer. I agree that the community and the incentive given by this community increase value.
The question is if it can be maintained over a longer period of time and abusers can be fend off faster than they appear. The abusers are one of the major threats to value. We see it on Steem with the vote farms that drain every little cent out of it. Most see only bidbots as the evil, but if we take a closer look most of the bid bots delegators increase their stake in comparison to the low cent drainer as they are many and fly under the radar. The tokens issuer need to fight them as well.
As a disclosure, I see them bringing value and can help increase the Steem worth.
Thank you again for taking the time for a thorough reply. I will try to do from time to time some posts that engage idea generation.
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I strongly agree with what you say about the bots. The bots are not the problem the lack of vision from the bot owners is the problem.
they let their value be decreased by shit. Now much of the community doesn't want to use them, because good people don't like to hang out with scum and scammers.
If they would have set some standards... more people would be willing to pay more for votes.
@whatsup,
Yeah definitely it's adding a value to STEEM and I wish people might start focusing on real businesses that might add token features with it as well!
Cheers~
not everything can be home runs. It would be boring and we'd never learn anything. Somethings need to fail for there to be success
Maybe one day
To me these new communities are very valuable, especially the ones I'm writing for.
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They will surely add value. If SMT’s got released, it will be a revolutionary change for steemit.
Greetings appreciated @whatsup.
First of all I apologize for this late message, but the theme raised in this post completely captures my attention.
Many of the points raised by you had already been considered by me and I fully share your opinion.
Especially in the advantage that these new tokens and tribes give us when creating specialized content.
The idea of attracting new users combined with the idea of attracting investors seems to me to be the best application we can give to the creation of tribes, especially since the incorporation of new participants is the key needed to maintain the inflationary economy of the Steem blockchain.
Ps:
Since you seem to have some decent knowledge and experience, would you mind if I ask you to share your own opinion on my latest publication:
"DID OUR" WORLD LEADERS "JUST PUSH GLOBAL RECESSION AWAY from our doorsteps?"
https://www.steemleo.com/economy/@crypto.piotr/did-our-world-leaders-just-push-global-recession-away-from-our-doorsteps
I would appreciate it greately.
Yours
Piotr