Steemit, are we killing it?
Why are all the rewards loosing so much money since HF19? Are we not as strong of a platform then before HF19? Are we growing to fast?
These are some serious question that I hope someone can answer.
I will give you my uneducated guess to 2 of these questions.
Why are the rewards loosing so much money? My thought is this, the reward pool is getting smaller due to partial abuse of votes. Now before I get into this, I am as guilty as the rest. There are 2 buy a vote system that I am aware of, I will not mention any names but I am sure everyone is aware of them. The latest one is a little 2 much. You can get a reward any where from a $1.00 to $134.00. Now as nice and as tempting as this sounds, I dont think it is good for the long givity of the platform. Once the reward pool is empty,,, then what happens?
Self voting. Before I get into this one I want to be clear that I am guilty of this as well. I am not sure if this platform was designed to vote for yourself. I no, there's a button you can click for automatic upvote. But all this has changed since HF19, the votes are worth so much more now. What if all the whales upvoted themselves 100% each time they did a post? My guess is it would drain the rewards pool pretty quick.
Are qe growing to fast?
I woukd have to say no, but if the vote abuse doesnt get under controll then yes. Simply put more people are joining which is increasing the vote abuse. Which is draining the rewards pool faster.
My solution, going forward I will not partake in the buy a vote programs anymore.
I will not upvote myself more than 5%
Now with this being said all of us newbies need an occasional visit from your friendly whale.
So whales get out there and vote.
And everyone else VOTE, thats what this platform is about, it doesnt have to be 100%, for most newbies 1% makes them happy. We like to see the votes.
Please let me know if you think I am even close to having the correct answer.
I want to be here as long as steemit is here. We can not abuse this platform and expect it to keep rewarding us.
Follow me @raybrockman
Don't forget to upvote.
The price of steem on the crypto market has gone down and directly affects the rewards. When it goes backup everyone will appear to earn more. in truth, we are getting the same amount of STEEM rewards, the value of them just fluctuates.
Thanks for the visit and comment. I heard today that your rewards go down in value if youbare not upvoting. Not for sure how true it is
While we keep seeing payouts getting smaller over time, we also see more content being upvoted which is good and makes good content more visible. The prize pool will get bigger and bigger over time, it's designed like that. There is no point in being stingy with upvotes, it would only hinder the platform.
Thanks for the comment. I believe we all will learn that the lack of upvotes since HF19 is causing the reduction in rewards.
While I'd like to give myself 5% upvotes and give others my 100% upvotes, to regulate my voting power as a noob is a pain. I'd have to look at what others coded or code something myself to that end until I hit the 300 mark which allows me regulation through Steemit itself.
hm
I think it is more than just self votes or even whale votes; I have been noticing that a lot of minnows have been vandalising the "buy a vote" system by spamming "borrowed" content (i.e. single YouTube post) and then get the system to vote for them.
I do not mind the voting system if people are not so money hungry enough to spam the site with junk and try to create a value out of it.
It's like throwing an original product "advertisement" and tries to sell it as an actual product.
If you get what I mean.
Good post! on Sunday I went crazy and upvote till my voting power was 43%. It is now only back to somewhere in the 60%. So I don't mind voting, that is what I want to do, but the time it takes for your voting power to get back to 100% that is for me a big problem.
It does seem to take longer. Thanks for the visit my friend.
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This post has received a 20.84 % upvote from @booster thanks to: @raybrockman.