@pfunk's Witness Post
Hey Steemit community. I've met a lot of you online already but if we haven't, consider this an introduction. I came to Steem as a miner fairly early in its life. I created my account by mining on April 23rd, a bit over 7 months ago. Once I found out what Steem really was for, to enable and reward community-driven content and interaction on a blockchain platform, I was skeptical but very interested. I read the whitepaper outlining the model that Steem was taking to achieve this goal and most of my skepticism vanished. I was in.
Seven months later I'm still in, moreso than before. A few people have made posts about being full-time in Steemit and I can count myself among them. Here are some of the things I do to bring value to Steem and Steemit.
I try to be a model Steemian by commenting, curating (including helping out with Steem Guild and Curie), and actually reading/viewing/watching/listening to many of the unique posts we have here. I also participate and help users in over 30 channels on steemit.chat, where I also occasionally perform the role of moderator. You can also sometimes find me in Steemspeak and the Steemit Talk Podcast discords.
I post. I was one of the first people on Steemit to post topics on subjects other than Steem or cryptocurrency. If you go and scroll all the way down on my blog roll, you'll find my first post was a discussion topic about games and gaming. From the start my goal was to diversify the content on Steemit, to make it a valuable platform that people outside the cryptocurrency sphere would want to join. Many others helped as well, and over time that goal has been partially achieved. I still think there is improvement to be made in onboarding people that might be turned off by some of the technical bits about rewards or the complexities of Steem.
Since then I have found the inspiration to share my own personal photography, and thoughts on various topics I'm interested in. It has unlocked something in me that was dormant. I've often had thoughts like doing a blog reviewing tacos or maybe a more eclectic set of topics but I imagined I would just be talking into a chasm and nobody would ever read them. And to get rewarded for sharing photography is unbelievably encouraging to push myself to learn and get better. I reinvested much of my post earnings back into content production: getting a modern DSLR camera and lenses, software, and a photo production-oriented monitor.
Tasks and funding
I help to curb abuse, and I'm pretty good at it. I earmark time almost every day to try to deal with abuse on Steemit. Some people mock this kind of thing, thinking that it's not an issue. It's generally not an issue because people have been proactive in dealing with it from early on. I think if it wasn't dealt with, Steemit would have a lot more people abusing it and legitimate posters would be turned off from the platform. Though I donate more in time, I also fund @steemcleaners with 100 STEEM weekly.
A couple months ago I recognized the need to help fund an under-represented creative outlet on Steemit: music. I help to fund @luzcypher's weekly Open Mic Night and give a bonus to people that submit original music to it. It's a growing success and there's new people participating every week.
I believe Steem and Steemit need two things primarily: more user growth and more incentive to buy and hold Steem Power. To these goals I've participated in marketing Steemit, including helping @cryptoctopus early on and making a Facebook ad image for him in which I coined the tagline "Your voice is worth something." I also was the first to do external community-based advertisement. I also made some posts explaining the case for powering up, so that more people would understand the benefits. I'm currently finalizing some marketing I will be doing locally in my city.
I've written a few guides to help people get up to speed with various aspects of Steem and Steemit:
- [Guide] Steem Windows Mining in a Linux Virtual Machine
- How to login with your posting key (and why this is important)
- A Full Steemit User's Guide to Steem Witnesses
- A User's Guide to the Different Steem Keys or Passwords
- Your Steem account is worth money! How to secure it with a new owner key to keep it yours forever (outdated, made before changes to Steemit's permissions page)
- Steem Command Line Guide - A Learner's Guide to Using cli_wallet
- Secrets of the Blogchain: A Guide to Using steemd.com
As a witness I have stayed active. I've been running at least one Steem node since I first successfully compiled it back in April. I keep my price feed up to date and have adjusted SBD APR and other witness parameters as I think is needed. I have never missed a hardfork.
I've always tried to spur discussion of major changes to Steem, especially when I thought they didn't make any sense. Such changes include a scrapped proposal to give 25% of a post's rewards as a handout to its comments, which I believed would only encourage low quality comments, botting, and gaming that system. Another proposed change I thought was a bad idea was to give the miner block producer slot the same amount of Steem Power rewards as the backup slot. I also share feedback in chat, on Steemit, and on github when I see it's necessary.
In regards to the upcoming v0.16.0 hardfork, currently scheduled for December 6th, here are my thoughts. I agree that the vesting protection/Steem Power inflation is out of hand and I support reorganizing the economics of Steem. This helps in one half of the market equation, supply. The new economics come with a heavy cut to the trusted people that run the Steem network however. It will be an approximate cut of 83% of block generation SP rewards for the top 19 full-time witnesses. And though the changes seek to rebalance block creation rewards towards those not in the top 19, it will still be a cut of 12% for the backup slot. Not all, but many witnesses use their SP to reinvest in Steem in one way or another.
The hardfork's new economics also seeks to address the demand side, by reducing a full account power down time to 13 weeks instead of the current 104. The theory is that this will increase incentives for speculation. Though it's untested, I see the logic in it. I believe the non-liquid investment in Steem Power has many benefits, and I hope that the new time is a good balance. However, I believe relying on speculation alone is not a fix to generate good demand for the STEEM token. There is more work to be done for Steem Power demand.
The SBD conversion time and price feed median time will both be halved from one week to 3.5 days. I think this is a reasonable change to reduce the risk in conversions and to provide a more up-to-date feed while still leaving enough time to intervene in case of an issue with the witness price feeds.
The switch to the Equihash algorithm for proof of work is welcome because it closes the gap between CPU and GPU mining power, and can benefit from open source GPU miner development from the Zcash world.
Overall I think the changes will be beneficial to Steem in the long run, and I plan to run the final release of v0.16.0 should no issues come up in testing the release candidate.
My witness node runs on a dedicated server in a location with excellent global connectivity. In addition, I always have a backup node at the ready.
|RAM||16GB DDR3 ECC|
|Internet connection||1 gigabit on Intel NIC|
|Power supplies||Dual redundant|
My seed node is also running on a (overkill ;) dedicated server. Though after the upcoming change to ChainBase, memory requirements will be much lower, so it is subject to change. IP and specs:
|Internet connection||1 gigabit|
Why I want your approval vote
I want your vote, small medium or large, if you trust me and approve of what I do in the Steem ecosystem. I hope to increase funding to the projects I already fund, and add more things as it becomes possible in the future. I'd also like more stake in Steem, not only to have a higher powered vote but also to bring my account investment in line with my time invested. I want to see Steem grow and succeed, and do what I can to make it happen.
You can make your approval vote for me as a Steem witness on this page:
Or via command line with
vote_for_witness youraccount pfunk true true
Thank you to all the Steemians who already have an approval vote for me or voted for me in the past. Without you I wouldn't be making this post to get to the next level. The rewards from this post will be used to cover costs for my current local advertising in development.