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RE: AskSteem: What do you think of the EIP so far?
I'm hoping people will prefer it once the autovote front-running starts hitting those phases where more and more accounts keep front-running eachother making it less profitable, some will switch it up to other authors until the same thing happens there too so hopefully the edge will go to those curating manually and it's just 10 votes per day max, it can't be that hard to find that few good posts per day if you try a little. :)
Why is that vote front-running allowed? It never really made sense to me why max curation rewards increase toward the 30 min age mark. Was always curious why top curation rewards didn't go to the earliest to vote you know?
They do, but people use bots like steemauto to cast votes for them as early as possible on popular authors so they'll get highest ROI, then someone notices account x has started voting 3 seconds before them so they put their timer another 3 sec before them, then before you know it they're voting so early that the curation penalty is wrecking their rewards no matter the votes being cast after theirs so they have to either find another author to try that on or it may also affect the other curators thinking "too many autovotes already, not gonna curate". It's kind of a self-regulating aspect but since curation was not incentivized for over 2 years not a lot of evolution happened to it, so let's see what happens now. I still think finding something from a fresh author that's great and voting first on it with a significant vote and then promoting that post to your followers through resteems or in other ways will get you the most CR in the future. Hoping to see that happen sometime soon, cause that'll mean we'll have content discovery fixed.
I see. I understand how the auto vote thing works. But, what I meant though was why isn't the max reward given early and then have it decrease? Rather than the reward increasing to max at the 30 min mark? Never made much sense to me. Early bird gets the worms ya know?
Cause then there would be 100 bot accounts voting on the first block when a post is posted. The penalty was shortened from 30mins to 5mins now, so at 2.5mins you face a 50% curation penalty but depending on the votes that follow voting at 2.5mins may give u bigger returns than if you wait for 4mins and only take a 20% penalty hit but many others front-run you instead thus lower your ROI. :D
Oh gotcha! I didn't know the penalty was shortened. Awesome!
The curation rewards penalty period is the most interesting part of the whole Steem economy! It is the only period that has two simple yet conflicting algos, it also has a dynamic maximal point and hence cannot be maximised for every post. I'd like to see the concept extended to the full 7 days :-)
Anyway, on a more immediate note, one factor that hasn't been considered is that different tribes have different parameters for this curation-penalty period, so some voters are voting specifically for a tribe using their staked tribe tokens, but obviously their votes still appear on the Steem blockchain. So there is now a plethora of different voting algos out there.