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Author Topic: Scot Bot/Steem-Engine Token Economics  (Read 3181 times)

Offline Tokenista - Rev. Sasha Van Kush

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Scot Bot/Steem-Engine Token Economics
« on: November 28, 2020, 03:41:46 AM »
I want to explain to everyone how the Scot Bot economic model works, and how you can compare various existing DTube clones and other implementations to see how it works.

So first, Steemit Scot Bots are built on the Steemit Smart Media Token (SMT) Framework, a popular example would be APPICS. A Scot Bot is a Smart Media Token with STO Staking capability, meaning people can stake, and then a Bot that reads all the Data from Steemit, and uses it in a Token Wallet. Nothing changes about your experience, you just continue using Steemit, you just post in the APPICS group, use their tags, and use the Steem-Engine Wallet to view your extra gains.

DTube is another popular version, it is like YouTube, but you earn DTube Tokens using the Scot Bot Model.

If you then look at the Marijuana ones, like Weedcash, it seems like there is no one telling anyone to Buy them. There is the basic STEEM based incentive to Buy to raise your Vote weight, but no one is saying "Use your Hive to Buy Weedcash, then just sell Weedcash earnings". They have a solid base, but there is no building being done.

To better understand it all, it is better to understand PoS, the first was PeerCoin, then came coins that used Stake to Hash Equations to find Cancer Cures, and AIDS treatments. PoS is where all the mining is done in your wallet, and your mining power is based on your holding of the currency, the more you have the more you mine.

This works best when it is like interest.

All Cryptocurrency, and Fiat, Inflates, Bitcoin has new Blocks and Miners are rewarded, PoS and PoW are not vastly different, but PoS, just like PoW, must be distributed well.

If 5 people mined Bitcoin, and only let the rest of us mine 5%, no one would want that 5%, it would not be the biggest Crypto.

Your PoS must be well distributed.

It also is best to have low Block rewards, 4%-15% per year is best. And it can work extremely well with massive growth as the currency goes up, and maybe 4% of a $0.02 coin you got lots of is now $4,000 since you got it cheap.

Steemit, Hive and BLURT are PoS, and they are Social Media sites, this means you can earn it and not ever hear ththe terms "Proof of Work" or "Proof of Stake".

And Steem-Engine, Scot Bots, are built on that. So people can invest STEEM, which they earn by Proof of Brain, and invest those with others, to then create value, and earn even more.

Dark Energy Crystals (DEC) are a Steem-Engine Token made by the Steem-Engine creator Aggroed, the Token is used in the game Splinterlands. DEC are listed on exchanges outside Steem-Engine, so they are traded just like DOGE, or LTC, or ETG, or ERC20 Tokens.

This adds a whole new layer of finance, DTube did this also, many Scot Bot Tokens are listed on outside exchanges. Which brings value and expansion.

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Scot Bot/Steem-Engine Token Economics
« on: November 28, 2020, 03:41:46 AM »

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Offline Tokenista - Rev. Sasha Van Kush

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Re: Scot Bot/Steem-Engine Token Economics
« Reply #1 on: November 28, 2020, 10:34:28 PM »
Look at Steemit, for Facebook to launch a Currency with no intention of giving utility to their existing platform, they are leaving a lot on the Table.

Facebook could right now create the model for future Social Media sites.

Right now Steemit, BLURT and Hive are showing us the Future, it seems like Facebook just wants to join in with Bitcoin or Litecoin if they do it that way.

Just to get everyone thinking.

Look at the Gift Card Economy, Bitcoin is like a Giftcard that changes value. Look at FortNite V-Bucks, or World of Warcraft Gold, or like Gaia Online Tokens.

Recently we have seen PGL on Prospectors, built on Ethereum, then EOS, and WAX. All games built around a Token.

But what we need, are existing games to create Currencies. The games created around an ICO are a great step forward, but existing companies need to go on the Blockchain, they would do so much better than these Coin based Development projects.

Coins are Developed, we don't need a password, a cell phone, email verification, and a urine Sample to open our wallet. We need uses for Cryptocurrencies, and ways to get more people using them. We all do, it benefits all of us when more people are earning from this, and they will want to earn when they see companies they know selling things they want for coins.

 

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