Steem vs Cosmos as a development platform for the WoC

#Types of crunions (issue cryptocredit)

Three types of crunion DAOs have been described so far:

• Validator crunion - issues the cryptocredit used for proof-of-stake deposits and mandatory fees.
• Valuation crunion - issues cryptocredit for peer-to-peer-review (prediction market of research claims, ie philanthropic gambling), more respectable valuation crunions should influence validator crunions but their tokens/crunits/mixcredit can be valuable as any cryptocurrency (for payments, hedges/wealth_storage, "trustless" coin mixing services, bonds to ensure humans do what they claim they will, issue tokens for small private/public blockchain(clones)/games/flood(spam)_control, etc) regardless.
• Refinery crunion - refines existing cryptocurrencies into (impure) cryptocredit or uses existing rating systems for mass issuance of fixcredit (this has been partially described in the wiki but I have now named it and will elaborate.)

#(This is needlessly verbose and doesn't explain it well yet)

Steem has one advantage over atom/Cosmos already: Steem payouts can function as an automatic way to set exchange rates for the Steem Refinery Crunion DAO. If we use rating systems of networks like Reddit.com or YouTube, to issue mixcredit without a valuation crunion to vet the entries, we are likely to lose valuable creditclaims to those who know how to obtain ratings cheaply (for example, buying Reddit accounts or having bots upvote each other). But with Steem it doesn't matter if the rating system can be gamed because Steem's "ratings" are tradable and have a real-world value, so contributors can "return" the steem so they are entitled to the full creditclaim. The Steem Refinery Crunion is therefore able to directly issue steemcredit! Steem's crony coinsensus is Steem's problem, which we can capitalize on for our/their (mutual) benefit.

But Steem has a major shortcoming that wouldn't apply to atom/Cosmos if you will agree to issue it as cryptocredit! I will explain. Unlike most cryptocurrencies, Steem can be refined into pure cryptocredit because it is not too difficult to get the consent of the only contributor. Essentially we are buying the creditclaim back from the Steem network by trading the same amount of Steem(USD) that was paid out (although maybe we will have to consider inflation or interest if much time has past). But this is still cumbersome because we need the consent of the original author if we want to buy the creditclaim from the Steem Refinery Crunion. This isn't much different than buying the creditclaim for something like a Reddit post when the author received no payment (thus they are entitled to the entire creditclaim) and in one sense Steem is less convenient because it adds another step. But it really replaces the difficult step for the crunion (pricing the creditclaim) with an easy step for the contributor (burning the Steem or sending it to the Steem Refinery Crunion DAO) so it is really more convenient (for mass issuance of cryptocredit) and it doesn't hurt that Steem is already worth something to the rest of the world!

So for Steem we can automate the most difficult part of mass issuance of steemcredit/crytocredit (not just steemclaims/creditclaims) but we still need to obtain the consent of the author. But if you issue atom as cryptocredit we won't need any refinery crunion and we can later create the Atomic Validator Crunion (plus any number of independent valuation crunions) so we can send atoms directly to the Atomic Validator Crunion bag to obtain these creditclaims without the extra step required by Steem. We might just hodl these cclaims but the eventual plan is to have decentralized "exchange" on-chain, so that there is no reason to take them off the "exchanges" (which are/includes valuation crunions).