Steem Proposal System - BtcMyk New Proposal

Welcome back to the channel, and I hope you all are having a great day. So I want to talk today about the Steam Proposal System. Um, after Hard Fork 21 on the Steam blockchain, changes began to be made, uh, to make the blockchain a great deal better. And one of the main proposals or implementations was the SPS, or the Steam Proposal System. And, um, what this is is an unchained decentralized autonomous organization that allows users to submit proposals for funding and vote on which proposals should be funded. And so this is, uh, quite the interesting feature. I think it was probably one of the best moves the Steem blockchain made, uh, and what it allowed now is for the community to collectively decide what type of projects they want to see on the blockchain. They vote on these projects and these projects get funded. Um, now we did enter into the proposal system, but I think we were a little bit, um, confused about how it worked. Um, from the information provided, we did the best we could but apparently how it works is, as you can see, this budget grows. Well, we weren't aware of that. We thought maybe that the budget would be immediate, uh, but it doesn't work like that. We've seen this budget grow from maybe $20,000 to now it's, um, north of $80,000, $82,000. And I'm not exactly sure how far it goes or, you know, where it ends up at Could be hundreds of thousands of dollars, could be millions. I have no idea. I wasn't able to find all this information in the frequently asked questions part. But what is clear is right now we have to work between this daily budget of $82,000, or rather total budget of $82,000 and this daily budget of $827 Steamback dollars. Now again, it seems to be growing, and so depending on the value of your project, um, you'll be able to participate and perhaps have the funding, uh, depending on what exactly it is you're trying to do. So let's talk about some of the projects on here, see what they got here and what that means for the Steem blockchain. So Steem World, uh, I'm not 100% familiar with this project as well, but it seems to be some type of— I think I did use it one time. I went on the site one time and it seems like a well way to organize your voting power, you know, and things like that. It's not an application like a Steam friend insight or something like that. So it just kind of reminds you of SteamD, right? Steam Now, those type, those type interfaces. And it seems they have got funding. Who else got some funding here? This Downvote Control 2, smarter downvotes, more options. That sounds interesting. That sounds like something I think would make sense. Downvoting is a big topic on the Steam blockchain. And, um, you know, making it so we can do it more responsibly, smarter, as they say. That, that to me just seems like a good idea, and they seem to got funding. The return proposal, every proposal with less votes, that I think that was one of the first things to get funded. Uh, and let's see, has anybody else got funded? Yes, this project, improvements to the proposal system. Probably sounds like a good idea. There are things on the proposal system I think that are still quite confusing. And, you know, if that's gonna improve it, make it better, easier for us to use, that'll be great. What else here? Documentation for developers on the Steam blockchain. So that got funded, and that has something, you know, that's important, of course, to people who are working on back end of the Steam blockchain, variety of things. What about the Steam— and it doesn't look like the Steam Fest travel reimbursement fund got funded yet. And of course, Steam Fest, the event they have where Steamians get to come together. I think it's some importance to Steam Fest. Some people don't think it's as important as others, you know, and apparently whatever the costs are going to be to Steam Fest, it seems like Maybe a way to help some people get some money back or help them to go. Um, I haven't read it yet, but I wouldn't say it's entirely a bad idea, but it hasn't been funded yet, but it seems to be getting quite close. Steam Connect continued improvements. Let's see how that's doing. That's doing pretty good as well. It's like it's about to get funded. Um, but, um, not quite there yet. Steam Connect, very important tool to the interoperability of our applications on the Steam blockchain. I would think that that's a, you know, that's a good idea. Um, let's see here, who else is in the ballpark here? Uh, they got a ways to go. The funding the Annex.io API infrastructure, and I'm not 100% sure what that's all about. Uh, fund for development and work on Steamcraft. This seems to go on more in the game department, and, um, they're quite a ways off but not doing so bad. Um, reduced inflation proposal. That sounds quite interesting. That sounds a little bit like our, um, the Bitcoin MYK, or the Bitcoin Inflation Token. We wish to bring to the Steam blockchain, uh, and it seems to be doing fairly well. Um, it looks like it's going to reduce that inflation that's been a big topic in the Steam blockchain. Inflation, some of us believe, might be one of the main problems and concerns with the Steam blockchain as of today. Uh, another game, Road to Riches, based on the Steam blockchain. Uh, you know, the games situation with me are hit or miss. You know, either you create this great game that a lot of people gonna play, or you, you know, create a game that people don't play. Uh, so, um, we'll see how that does. The Deluxe DApp infrastructure for Steam. Now, um, I took a look at— I think I looked at one of their sites, uh, not long ago, and it looked pretty interesting. Um, looks like they're trying to do this, if I'm not mistaken, bring these— a variety of these 3D interfaces and games to the Steam blockchain. I was always interested in if the Steam blockchain would ever develop this type of virtual world interface where you can have kind of like a 3D website or something like that. I think that'd be a great idea if the Steam blockchain did something like that. And not 100% sure if that's what they're doing, but I do think they produce some type of technology in that area. So if they're doing that, I certainly would like to see something like that go forward. Class action lawsuit from Facebook, and this has been up a while. This is, let's see how they're doing. They don't seem to be really moving much more than when they first got started with this. And I'm not 100% sure what they're suing Google and Facebook. It's saying the crypto ad ban, but I thought that that was reinstated. So I'm not sure exactly where this would all be going. And if the suit and the settlement was won, I'm not sure if it would be like a class action where everybody would get some. I have no idea really, you know, what direction they're going in with that, but it doesn't seem to have moved much more, uh, since then. Developing a Steam hardware wallet application for Ledger. That sounds pretty interesting. Um, how much do they want? Doesn't seem like they want an entire lot of money. They seem to be doing okay. Um, sounds interesting. Is it something that is like a necessity on the Steam blockchain? I don't, I don't know, but they're not asking for a whole lot of money, so I, you know, having a hardware wallet might not be the worst idea. This looks like another game, makes Steam collectible playing cards for 2019. They want $10,000, and I'm not well-versed on games, but, you know, again, the idea is if you can create that Magic: The Gathering, you know, game on the Steam blockchain and, you know, give compelling reasons why people would want to access it on the Steam blockchain, you know, you could probably have something quite great there, you know, great situation for Steam. Donating 2 times what is funded— excuse me— theory testing proposal ending. Looks like some more backend work here. He only wants 61 SBD. That's kind of weird. I don't I don't know why he would only need that much, but anyways, let's see. Another card game on Steam, they want $20,000 Steam Back Dollars. Um, tool which leverages community in terms of Steam development, and they want $12,000 Steam Back Dollars. Hmm. Multi-exchange Steam market maker to improve trading volume and liquidity. That sounds interesting. And they seem to be pretty much— they posted this a while back— they seem to be pretty much in the same ballpark as they were before. Although I think projects like this are in the right ballpark. You want to control that inflation. Price is very important and the psychological effects of bad prices. Can create a line of negative effects from lower quality polls to reduce usership. Multiplayer 2D arcade game to win more Steam. To win more Steam, that sounds interesting. He wants $24,000 Steam back for that. He plays some game and you can win Steam with it. You know, sounds interesting. You know, again, with these games, I think it just comes down to, um, you know, is it, is it going to be a hit or miss? Um, now I'm familiar with this project. Operational budget for OpenSea development and outreach proposal, $173,000 for that. Now outreach is so very important. Um, you know, if you're not getting new people in If you're not getting more value in, then, you know, you're basically not growing. And so outreach is going to be very important. Marketing and getting Steam out there and getting people and onboarding them. Wavo proposal: Steam as a platform for business. I like the idea of that. They want $270,000 Steam Back dollars. They want quite a bit. And it's some type of platform for business. I'll have to read that. I didn't see that. Looks like that's been recently added, but I do believe where we're headed now with this is businesses are— it's gotta be very important for businesses to find a use of Steem. Prior to this, it was kind of you get paid to blog, you go out and tell your friends, and everybody kind of joins. And I think those days are kind of ending now, and I think the Steem blockchain needs to focus on business solutions for businesses to find use in the Steem blockchain. And I think that's gonna create and bring a great deal more value to the Steem blockchain than trying to go out here and get people one by one and convince them that, hey, you know, it makes more sense to make a few pennies on a post than it does posting on Facebook. and that doesn't always work the best, right? So I think we're going to need a different approach to this as well. The Steamia versus the Bear comic project proposal. I love comic books, and I, I don't know anything about what this is about. They want 2,800 Steamback dollars, but it's some type of comic book, I guess, will be uploaded to the Steam blockchain. I, I don't know. Some type of intellectual property. Um, so I don't know, we'll, we'll, we'll see what people think about this. But I think really, just my opinion about it, a lot of Steam community is really looking for something that's going to drive people here and create more value for the Steam dollar, power up GiftGiver and continue development of it. Not 100% sure what that is, but they only want $2,400 Steamback dollars. And then you get to our first project we submitted. We asked for $2,739 Steamback dollars a day, which was ridiculous amount of money for the system. Again, a misunderstanding on our part about how much money was in the Steam proposal system and how the fund grows. These things are not explained in the frequently asked questions section, although I wish they were. And, you know, so it's still up here, but, you know, basically we're looking at this now as a project that's gonna be long-term, more of a grand plan to how we see the Steem blockchain headed. And so what we did is we submitted something we think falls more in line with the Steem proposal system as it exists today. Which is our Steam music player that onboards, right? So if we look back and we think back to the early days of social media, right? Music and social media was all pretty much joined at the hip. You know, like you go on MySpace and you find all these musical artists who are trying to promote themselves and a variety of things. And music has always been so closely knit with social media, promoting social media. Of course, um, it became the new frontier for music. It became the new frontier for people to start their own record labels and promote their own music across social media. And following in the footsteps of ideas like that, the Steam Music Player is basically a system that allows musical artists to be played— or rather paid every time you listen to their, their tracks, right? So on our streaming service, on our, on our listening to our player, when you're listening, they're earning. But not only that, not only are they earning, are they earning, but you're earning as well, right? You're earning about as much as they're earning. It's almost like a 50-50% split there. You're earning a token per track, they're earning a token, uh, they're earning a token for you listening to the track. Now there's also a tip feature. With this tip feature, it's based on how many stars you give them. For each star you give them, that represents a token, right? So you can give them up to 5 stars. So on each track you listen to, you can actually reward the artist up to 5 stars. Now the next cool part about this is we have a treasury that supplies both listener and artists with the tokens. They don't have to buy the tokens, they don't have to purchase the tokens. It's all provided in our treasury. And this is very important because, you know, we look at social media, specifically the early days of social media, we look at it as, for us, social media has always been free, right? And it's kind of hard to create an exodus out of social media to bring them to platforms where when they get to your door, the first thing they're hearing is you need to buy something, you need to buy this, or you need this or that. So what we've chosen to do is make it more of an experience like what people are accustomed to, yet offer them all the advantages of blockchain technology, right, and doing business over the blockchain. Uh, and we do that by supplying this treasury that creates tokens and converts their attention value into these tokens, right? And of course, we know attention value goes on to become monetarily valuable, you know, whether we're doing some type of advertising or we're doing some type of offers that could be completed by the users of the site. Uh, this seems to work more in line with what we feel to be a more efficient way to onboard people without that uncomfortableness of, um, you know, them having to pay upfront costs. The next part is, uh, the onboarding itself. We have a system that onboards, or rather segregates their account, even if they don't have a Steam account. Uh, we're able to segregate their account. They're still able to participate, earn our tokens, which could be traded against Steam value without them even having an account. And what this does is this, um, allows them to participate day one, but then it slowly walks them into getting a Steam account. Right. So the Steam ecosystem, the value of the Steam dollar is still traded with them and the value still goes back into Steam, although they may not initially have a Steam account. And we just think this is a great way to onboard people. It is a great way to get people involved because there are so many people who sing or want to be musicians across social media. and this offers them yet another advantage to earn, uh, on their production. Um, so we think it's a great idea. Um, um, and we're only asking $4,800 of funding. That $4,800 helps to circulate value throughout that token. So as our treasury, uh, basically rewards these artists more and more tokens, they have a value that can keep up with the production the attention value as we grow over time, the value of the platform. And so we feel like there's a good way to give us a boost in getting that started and getting— giving these artists a good user experience so they go out and tell their friends, they tell their family, and this creates a lot of value and a lot of new people coming back to the Steam blockchain. So that's the plan for that. Uh, we very much love you all, the guys, to vote on it. Support the project. If you can't support the project by voting, maybe you don't, um, have a Steam account, maybe you have very little Steam power and you might not think it makes much of a difference, you can still support the project just by going on the site, listening to tracks. That's all you got to do. If you can't do anything else, just go on the site, just listen to some of these artists. You're going to get a great treat, uh, hearing some of their great music. As well, you're going to earn our tokens free. Just for listening. So that's one way you can also help us out if you don't have, um, Steam accounts to do the upvoting. Uh, this is a test of SPS, so there's some kind of testing system. And there are some upcoming proposals, ones coming up in 7 hours. Wiki Steam. Um, that sounds actually pretty darn interesting. Wiki Steam. And, um, I'll have to really take a look at that. I didn't see that before. TillKey, the Steam DApp builder, that'll be out in 3 months. They want 400 SBD for that, or daily pay, they want $218,000. So this, um, this proposal fund, uh, I'm assuming is going to have to grow pretty, pretty large to supply a lot of these people. And And it seems to be building up over time. And again, I'm not 100% sure the mechanism of that, why that— why it works that way, but that's how it works. And I'm not sure how high it'll build up, but the higher the fund, the more chances we got of creating projects that can really bring value to the Xsteam blockchain. Xsteam proposal to build exchange, so there's some type of Steam Exchange is being built. They want 60,000 SBD. Um, this is adding Steam support to ScatterDAO wallets using the Scatter wallet packet. That sounds pretty interesting. And a global blacklist API looks like to keep, uh, undesirables out or something like that. And that will be out in, looks like 7 hours. So that's all very interesting, um, quite interesting, um, and we'll see how these proposals do. Um, now is this going to be enough to turn the Steam blockchain around, uh, as some of us hope? Maybe. Um, we'll have to see if that's going to happen, but I will say this, as far as doing something rather than nothing. This does, I think, move us in the right direction, right? And I think we're gonna see more promising projects on here that can maybe produce some of the results that I think many of us are looking for, because we got a long way to go. We're at about 13 cents now. Our volume is not the best. It's about 600— it was about 600,000 in the last 24-hour volume. We are barely holding in there in the top 100. And so STEEM has really taken a very deep dive as far as what I believe to be one of the most iconic cryptocurrencies in all of cryptocurrency. You know, the STEEM blockchain is synonymous with social media. Over the blockchain. Now we know social media to be a very valuable area, but why it's not in the top 10, why it's not performing as well as it should— some people think it's due to the inflation, the rewards pool. Of course, there's been a lot of drama over the years, but one thing is clear: the Steem blockchain itself offers some very impressive, uh, attributes. Free transactions, very fast, one of the fastest blockchains out there when it comes to transactions. These, this is all facts and data and it can be proven. But why is it that people don't recognize the value, the tremendous value of the Steem blockchain? I have no idea. Maybe somebody in the comment section could explain it to us. But I do think they're on the right track. You know, do I think these projects we're seeing are going to get us there? Probably not, probably not, but maybe one is coming that will, right, at some point in time. I would like to think our projects are going to do it, but we'll see. But anyway, that's all I want to say in this video. Don't forget to support our project. We'll leave a link in the description, uh, and I hope you guys continue to have a nice day. Until next time, take care.