@officialfuzzy shifts focus and is going to launch a Steem-based blockchain for each language on earth--that anyone (who speaks that language) can participate in! I would like to make one for every language tomorrow to be honest, but at first we will start small and think big later (or maybe not at all...cough cough). Let's set our sights on the top 10.
Hello everyone, I never introduced myself here (because I felt it was unfair of me to do so just to get a quick $5,000 SBD at the time) but I have been around in the BitShares, and now Steemit communities since pretty much day one. To those who do not know me, you can go and see the beyondbitcoin tag, where I try my best to have hangouts that utilize the steem ecosystem to enable others to vote on projects needing covered (both inside and outside of steemit). In this way my own biases will (eventually) not the only thing taken into account when crypto projects are to be covered. Additionally, I pay the SBD earned in our weekly RSVP thread to the speakers who join the hangout, only keeping the Steempower(SP)(again because of a longterm view and preference to keep steempower strong). I was also working on a solution with @faddat (actually two that would eventually work together) that help facilitate the creations of content creation guilds that can even create their own tokens backed by collective voting power. This was a long road and seemed we saw the first first truly substantial update by the dev after paying approximately 6k of my own money to develop an open sourced template for beyond bitcoin to use and test, that then other communities could also use and build onto. You can see this last achievement here: https://steemit.com/beyondbitcoin/@faddat/wtf-is-json-series-ingestron-greater-than-steemjson-making-steem-a-universal-json-storage-blockchain-step-by-step
But there is a problem...
The problem is that the steemit platform is not perfect yet. I know I know, it is only like what, 4 months old (3 months officially?), but it is not perfect enough... so I want to clone it, for the top 10 languages!
For awhile I thought "wait I have been blessed to be a beluga whale so I should give back and build solutions for the platform itself and everyone who helped bring it to me (by sacrificing over the past 3 years for Graphene)", but then I realized that with just a few devs I can fork it and cut out the entire community! Sure I will give active accounts on steemit a couple tokens in each chain. Possibly just enough to make most new to steem much happier than the new users to Steem itself. Don't worry about any of that. As you will soon see, I have an idea.
For the initial cost of maybe buying 200-300k steempower I can fork a chain and own a guaranteed 17% in it initial stake!
...additionally I can ask for 3 million dollars for development through a crowd ICO that only the biggest steem whales will be able to afford buying into to any degree worth mentioning (dont worry though these chains will be fairer). I will also say before it comes up in the comments to please not consider the possibility that maybe I'll have 1000 sockpuppets with 1-100 autovotes that hook up me in the snapshot...or that my team of devs with a large enough stake to become a solid voting block to pretty much guarantee we choose the witnesses. Though it is possible, I can assure you none of these problems will come to any of the Fuzzy's BitClone(S) chains...
What is the Solution?
During the last several months I tried to engage people in cryptocurrency asking them to join steem but they said things like "the price of steem is too high and I have to pay too much for steempower. I'll buy in when its cheaper", and "I am afraid to lock way steem into steempower with whales dumping them on the market so much"...or my favorite "Steem is a ponzi because it locks away people's value and you cannot exit the market while others benefit from your stored wealth". These were interesting to me for 3 key reasons:
- Steem is in Beta which means that there is a lot of development still needing done....so new users expecting a polished project will be disappointed.
- An intelligent person will save their money and buy into steempower knowing that at low prices it is easier to become a whale. Or they will hold onto SteemBacked Dollars (SBD) and turn them into steem -->steempower (SP) when the price of steem is at what they consider its loweset. They will power up and have a stronger incentive to build more value. This cycle would repeat over and over with less volatility as the project organically grew and they would be a new generation of whales...thanks to those watching the whale dumps and paying attention to the trends.
- Steempower is meant to be a token used by the ecosystem to Reward longterm investment (which backs steemdollars being newly printed into the supply).
As a result, I propose the Steem community help me approach Steemit Inc and get an agreement on the following terms:
- 10% of the FB Tokens (from each chain) from the initial 1 month phase will be distributed to the whole steem community (every account with more than 7 STEEM (not steem power) and at least 1 curation action (not done by a bot). If you can tell us how to mitigate the bots let us know. Otherwise don't ask too many questions about this.
- 10% of the crowdsale bitcoins will be paid to Steemit Inc for the license. I can explain the rationale after a whitepaper is written...but don't ask yet because I haven't written it.
- Our official PR campaign, site and all communications will be done in a language not targeted toward early investors and supporters of steem (sorry if this may be difficult for english and other native speakers to figure out what is going on---we are pushing you out). Instead they will be targeted toward the language of each of the 10 chosen chains. We believe the language barrier should work both ways... which is why translation solutions on STEEM chain should not be considered
- Fuzzy's BitClone(S) will hire a dedicated team of developers for "maintaining" the forked blockchain(s) in accordance with the core protocol. Don't ask us about what happens if witnesses on our chain someday diverge from steem's vision or want to change elements of the core protocol to something else as it is highly unlikely because we will end up controlling most witnesses. This dedicated team will also contribute to the original Steem Blockchain anything that we build (if we build anything, which will be in the whitepaper we have not released). I have not said yet that this will be in writing in any way though. Just trust me.
- Fuzzy's BitClone(S) reserves 1% of each FB chain's tokens to trade with other cloned language chains we might work with in the future (even if working with only ourselves for multiple chains).
In exchange I would like Steemit Inc to support our Clone(s)--because this is hooking you up and not unnecessarily dividing the community in any way!:
- Review our forked code to make sure it launches well and doesn't crash and burn, thus scaring our users back to the single Steem chain that started all of this.
- Overall support across different communication channels (we have not outlined this well enough other than to say they will probably support users on various channels along with us). But most likely we will need support in actually maintaining the chain and how to do so...
- A receipt of feedback from each Chain's communities. How Steemit will do this one...I am not yet sure. But I do want it.
This is how we see the Distribution of the FB Chains' tokens after the first month of each chain's launch:
- 60% to the crowdsale. 10% from raised bitcoins goes to Steemit Inc
- 10% sharedrop to the steem community as a license payment on VESTS and STEEM in the form of each FB Chain's Power token. Again, this will not be weighted on your current holdings in steem so make MANY fake accounts to get around this and come out on top
- 10% goes to FBs to finance our developers compiling and launching the live network after code review has been done by the Steemit Inc. Devs
- 10% to donate to new users who join us on our new chain.
- 7% of the tokens to the founding team who already gets 10% for each FBs chain's launch
- 3% to miners
The crowdsale will be uncapped for the first 24 hours (in case we get lots of steem whales who want to go crazy buying in taking us well above the initial 3 million we hope for). After that if above 3 million sorry to those who missed out. If not, I am capping it at 3 million to make it look like I'm being humble and not expecting too much. This should create a supply dynamic that looks amazing if we go over our expected funding in one day, but isn't so high that it is not achievable by my calculations of how much our chain could end up being worth in its pump phase (which will come out of the 10% for PR as I buy its way onto exchanges).
Subscribe to the @officialfuzzy account on Steem to have updates about development of the multiple language based projects (in each language of course). I am looking forward to feedback.
This post was a Parody inspired by the following post:
https://steemit.com/steem/@hipster/cyber-fund-is-to-launch-a-russian-steem-based-social-media-platform-golos-under-license-from-steemit-inc*. Please tell me where my analogies are incorrect or where I am missing something, but after reading over this pretty thoroughly it is pretty obvious the ann is either not well done and lacking significant details...or this is a quick and easy way to fork community and take a nice cut in the process.