Eos: Social Media Site Ono Launch - Steemitocracy

Hey you, welcome back to the channel. And guys, today I want to talk a little bit about what's going on with EOS. So EOS is just blowing up. It's seeming like it's solidifying its part as being part of the megastructure, main structure that's holding cryptocurrency together. You know, EOS started by Dan Larimer, who's been responsible for Steemit, BitShares. The price of EOS, as we've seen, has just skyrocketed. Now, one issue with EOS, or what's been part of conversation, has been that EOS was this kind of useless token, right? But we can see now that that's all changing, that there is gonna be many developments made on the EOS blockchain as the social media site Ohno will be launching on EOS, will be the first social media site. Generally, when we think of social media, the first thing that comes to mind is in the cryptocurrency space on the blockchain is sites like Steemit.com, which has done a phenomenal job in that area. Not without being plagued by problems of its own. Um, and a very interesting, uh, interview here with the, uh, chief operating officer, it seems, or COO, Ke Zhu. Uh, she talks about what's going to be happening with ONO on the EOS, um, uh, blockchain, and, uh, you know, what we can expect to see. Now, uh, they also go into How it solves many issues of social media space, you know, within cryptocurrency. And with ONO, one dramatic change, very interesting change, is what's going to be happening with ONO is going to be that similar to how Steemit works, you get these upvotes and likes and various things on content that's created in your contribution to the network, whereas Steemit works on an influential game. Based on how much investment you make into Steemit. With this system, they're going more for where all of the, of the likes or upvotes are going to be the same. Now, as I did visit the website here, I found out that this is more, it seems, geared to the Chinese culture. It was created, it is a Chinese social media site. And I think within the Chinese culture, if if I'm correct, that, you know, this type of approach probably works more with their culture, where contributions are equal, you know, and they're pretty much equaling out the votes. And so this is all very interesting. It's looking good. EOS is proving to be a useful token as it's skyrocketing. In addition to that, you know, EOS is now in talks with receiving a lot of venture capital injections. I believe the venture capitalist company is OKPay. I may be saying it wrong, but they've been offered about $100 million from this venture capital fund. And a lot of people feel like this is because EOS is gearing up to be what Ethereum was supposed to be as far as structure the speed of EOS and the structural integrity of the blockchain. So that's gonna be very interesting. Now, with it being built on the EOS blockchain, this Onos social media site, you know, geared toward the Chinese culture and Chinese social media site, you know, if you're like myself who really loves Steemit and is into Steemit, well, you know, obviously that's gonna be on the EOS system. But what What I find very interesting is, before I even came across this social media site, OnoHero, that I'm probably definitely going to be involved in as well, as I definitely like the idea. I like the idea that your contributions in a democratic way should equal out, provided that your contributions are equal to the dollar value injected, not just the aggregate a form or capital amount, but your contribution actually equaling out to. Because if we really think back in antiquity and we think about the creation of money, money is a tool, as Khezu touches on in her interview. And I will leave it in my Steemit post here in the description, and I invite you all to watch it because I thought it was an excellent interview. And a lot of her thought process is the same as mine on this, but she talks about how money is a tool tool we use that when you do something, you make a contribution, it's not actually in the form of dollar bills or coins or tokens, but your— the money is a reflection of your actual contribution. So when it comes to things like posts and, uh, the information and the knowledge banks we have that we contribute over to these various social media platforms, uh, what, um, what that is is that's a reflection of that contribution. The money itself is not what that is. It's, uh, your contribution. The money is reflecting its value, uh, and so I thought that was very important as to say it is equal to money. So when we talk about contributions, um, it's very difficult for me to say your contribution is not the same as maybe, uh, what an aggregate cash contribution would be. So I think that's all very important to note, and I, I thought she did a good job expressing that in her interview. But if you are a Steemit lover like myself and you're not on EOS EOS, at this point I don't own any EOS, but I am getting FOMO. I wish I would have bought in earlier as I see it skyrocketing. Didn't move much today, but I think it is around $15. But it looks like I looked last week, it was only like $8. So that means if anybody bought EOS, they would have doubled, you know, their investment. And anytime I see something like that move that quick, you know, it's, you know, the FOMO kicks in and you're just, will it do that again? And with all these various capital injections, options. I think I better try to pick up some EOS. Not telling you to pick up any, but just me personally, I think I'm going to pick up some. But getting back on track to this type of social media site, Ono being built on EOS, and what's been going on with my child, my brainchild, Steemitocracy, which is, I think, much like Ono is. I'm not sure if Ono is functional yet, uh, a lot of front pages in Chinese and I can't read Chinese, so I'm not sure if it's already operating. But Steemitocracy is already operating. It officially started operating yesterday. And Steemitocracy works very similar to how ONO is going to work in principle, in that the idea of Steemitocracy is for votes of valuable posts to equal out to their votes. And so in other words, kind of create votes in a sense to be on a kind of equal democratic playing field. But where is it going to be a difference is We're basically integrated into Steemit Network, so there's going to be no changes as to how people with higher influence and stakes work, other than trying to get the dollar value of the votes themselves to match up to how many votes are received in the polls. For example, as I explained in another video about Steemitocracy, if there were 10 votes on a poll and we wanted to say each vote was worth $1, and so that was $10, and let's say these 9 of the 10 votes didn't equal out to $10. They equaled out to $1, and say a whale came along and he had an upvote of about $9. Now the pulse is equal to $10 and there are 10 votes. So that's the approach we're taking. That way we don't disrupt— there's no kind of disruption to the Steemit system. We feel that can work well as it's still overall kind of cheese the goal. And it's also, we're adding some more features to it where it'll play out like a game of 21. Whereas in a game of 21, if you played it, you know, you can't go under or over, you got to hit 21 exactly. And so the object of the game is going to be trying to get posts to equal out to that. And the person who posts equals out to a reflective aggregate amount to the actual votes they're getting, They are going to win prizes, right? They're going to win prizes and we're going to do a gameplay video tutorial on how to play Steemitocracy. So if you're a Steemit fan, you definitely want to, and you're already heavily invested in Steemit, maybe you don't want to take money out of Steemit and go into other areas. Steemitocracy is going to be the platform for you. Interesting enough, in the interview here with Kazu, she talks about how she actually didn't even have to start this website to make money, that she's very talented. Talented in other areas, uh, such as, uh, poker. I believe Tech— I believe she actually won $1 million in a poker tournament, uh, and is a professional poker player in China. And I just find that very interesting to what we're saying about Steemitocracy, because in Steemitocracy, uh, how the, how the game is going to be played is it's going to be played similar to a type of game like 21, which is also a card game. So just something to throw in there, uh, guys, be sure to try out Steemitocracy. We will have a token sale going on this week. It is available for you to register now. Play STEAMatocracy and tell me all what you think about it. It is my brainchild. I'm excited to, you know, bring it to, to light here. I think it's going to solve some of the issues that we have with STEAMit. And whereas STEAMit, I feel, is a platform now that is just— it's nothing like STEAMit. STEAMit has so many applications built on top of Steemit to where you can just go over to one of these applications and pretty much get out of Steemit what you want, whereas it's still being built on the Steemit blockchain. So that's our, that's our direction with Steemitocracy, not to take anything out of Steemit, but to improve upon Steemit. So guys, anyway, I look forward to you all over on Steemitocracy. Guys, if you like content like this, don't forget to like and subscribe. If you're on Steemit watching this post, don't forget to upvote And until next time, guys, take care.