What's your take on the purchase of steempower delegtions?
I think that this functionality is hugely important for the Steem economy,
Steem Power delegations allow passive investors to purchase and hodl Steem, then loan their capital to communities, dApps and users in return for future income. The dApps and communities can then employ the Steem Power capital to make the Steem infrastructure and user numbers grow.
However it is important that the overall Steem economy be rebalanced to take into account this functionality which is relatively new. The current return for passive investors from delegating Steem Power is well in excess of curation rewards, which encourages more and more users to follow the delegation path. This reduces the amount of active curation on the Steem blockchain and makes earning through content creation difficult. This goes against the Steem 'proof of brain' concept.
As we move into the SMT era, we may well see Steem Power delegations reimbursed using SMTs. This will allow dApps greater financial freedom to use the SP amounts obtained to reward their users, without having to use the cash flow raised for repayments.聽