We are confused about the "Good Guys Token" - How will this affect SteemPower?steemCreated with Sketch.

in witness-category •  8 months ago

As we understand it is an SMT, but we wonder if it is more than just an SMT and if this is good for 1) Hodlers 2) Users 3) STEEM 4)Growth.


We are not negative nor positive to this new approach, in fact, we do not completely understand it yet after going through a lot of chatter, so we seek more clarification from @ned on this if possible.

Thank you
Team @fyrst-Witness

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I'm waiting too..........:)...

Yes @ned is the only one that can make the clarification so he's the best option


Thanks sir
You will always be the best on steemit

From what i can see it seems very convoluted. The whole system. Hes adding new layers upon layers to the rewards system.
We might end up like in a video game where you have currency for a 100 game regions.
Now we have internal Steem-SBD pairing. When this all goes live it will be crazy.

The only thing about this structure I’m having a hard time grasping is what would make GPT hold monetary value? What’s the incentive to buy & hold that gives any monetary reward?
I don’t grasp how the GPT rewards pool will hold and distribute monetary value.


THANK YOU!! You know what? I've been thinking exactly along the same line of thought as yourself and I agree whole heartily with your point of view and your comment. So keep up the good work and stay in touch by making more good and even more regular comments. Thanks again friend.

@fyrstikken Yes, this concept is still just some words yet in my opinion, until the implementation or particular word about the official structure, we cannot analyse how that will affect. So, if it's going to launch somewhere soon, then let's hope that this structure will not hurt anybody's position. Thanks for sharing your thought on it. Wishing you an great day. Stay blessed. 🙂

Couldn't let this stay $6.66. This is a great question that we would ALL like some more info on!!!

as founder of teamgood I feel ripped off with the name of the token....joking?
Seriously though, of all the names in the world that one is a bit odd and who exactly started this smt? I think clarification is needed :)

Hi @fyrst-witness. The idea of a 'good person' token is in the context of SMTs with Oracles. You can read more about Oracles here.

Basically Oracles are a little similar to witnesses, in that they are elected and paid positions that serve a purpose for a token. What Oracles will do is report information to the blockchain, which can then be used to determine how a SMT token is distributed.

The 'good person' token takes the idea that you could have two Oracles:

  • One reporting whether an account is a unique individual (possibly based on exchange KYC data, or something along those lines)
  • One reporting whether an account is following a set of community standards (like not plagiarizing)

Based on the reports from those two Oracles, SMT tokens for a particular "good person" SMT token would only be awarded to users who met those two criteria.

This should not affect SP influence at all, as it will not be used in any way for STEEM/SP/SBD distribution. (Only for SMTs).

I think clarification is needed before I make any kind of judgement on if I like it or not. I can't imagine Ned would want any kind of new code that could do Steemit harm so I say let's give him the benefit of the doubt. I wrote out more but it became a post so I'll link it here. https://steemit.com/steem/@mrrogers/good-person-token-ya-or-na Thank you @fyrst-witness for inspiring me with your post.