A Time Before The Bots. . . Steem's Economics

in #busy3 years ago (edited)

https://steemit.com/steem/@steemitblog/improving-the-economics-of-steem-a-community-proposal

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SteemIt, Inc made a post today asking for feedback on some changes that Traf has suggested for changes in the Steem Economy.

  1. Changing the Rewards/Curation split to 50/50
  2. Adding the curve back to the reward pool
  3. Adding a Downvote Pool

For me this isn't just a NO it is a HELL NO.

(I might have supported the change in the curation rewards alone, but still not my top priority)

Taking a quick walk down memory lane:

Once there was a time before bidbots. We did have 50/50 rewards and a curve in the reward pool.

The result was that the accounts large enough to gain rewards from Curation Efforts set their autovoters to the Author's they predicted would be successful. They did not curate. The curve in rewards takes rewards from the low earning posts and puts those rewards on high earning posts. Creating less distribution not more. Less visibility, not more.

The EXACT same accounts were on Trending each day. Every day. Many of them sock puppets of large stakeholders which they could falsy upvote and call it curation. And that is a fact.

I know you all think that you are great authors and if only the bots weren't here you would be on trending. I actually think that is laughable.

The truth is if you want to take rewards out and that is your goal as a stakeholder that is exactly what you will do. Changing the Math only changes how they extract the rewards.

While I fully admit we suck at content curation, changing the reward pool isn't going to create a situation where these detached investors suddenly begin to find your Quality Content and upvote it.

I vote instead of helping the stakeholder control who gets the inflation, that instead we focus our energy and efforts on adding value instead of things that help our so called investors stack coins.

Let' build communities and SMTs and attract new users, let's not promise them riches, or content discovery, let's tell them to build a social platform in which they can have partial ownership.

We need a token that has more than 2500 stakeholder which is what we currently have in accounts that hold more than 5000 Steem. (rough rounding)

If Traf and Kevin want to sell their votes I am in complete support of that. At least those who want visibility can buy it and stake goes to those who are willing to take a risk to get it.

Yep, we are bad at Content Discovery and a funky change in our own internal math isn't going to fix that.

Let's focus on adding things that draw new users and real investors into the economy!

Be sure to weigh in on the blog post.

@whatsup

Sort:  
Let' build communities and SMTs and attract new users, let's not promise them riches, or content discovery, let's tell them to build a social platform in which they can have partial ownership.

This.

I agree on any tinkering with the reward distribution math almost certainly not helping if the goal is to improve content discovery or stake distribution. Projects like @ocdb are much better at stake distribution. It all comes down to finding an acceptable compromise between rewarding stakeholders and helping newbies grow in order to make the DPoS consensus mechanism more secure. Judging by the 4.1 million SP delegated to @ocdb, a lot of stakeholders think getting 90% as much as by self-voting is enough and giving up for 10% to altruistically further the common good is ok.

@whatsup,
So far I am happy with the current system and I think @traf never wish to sell his votes! For me he is one of the smartest STEEM Reward Earner in this platform!

Cheers~

I'm sure that steemit.inc know all this. They have a good team in my opinion.
They throw that post out just to keep steemians busy and they can do their job.

That's funny, I said the same thing...

Reading between the lines: Traf wants this and his stake is big.
We don't want to ignore Traf, so please shoot this down so we can carry on.

:)

"Let's build communities and SMTs and attract new users... let's tell them to build a social platform in which they can have partial ownership...
We need a token that has more than 2500 stakeholder "

yes, yes, , , and hell yes

Anyone want to buy a penny vote from me? Jk 😂😂😂

Posted using Partiko iOS

I have been keeping my head down lately and I am rather out of the loop, so this is the first I have seen about this. thanks for the post. You hit the nail on the head with a lot of things, building communities and attracting stakeholders/encouraging growth is what we need.

Right now our focus remains 100% on improving steemit.com, Communities, MIRA, finalizing the Steem Proposal System Hardfork (HF21 or the “SteemDAO”), and preparing to switch to SMTs. We do not have any plans to begin working on any code relating to these economic changes. But we do believe that this is a conversation worth having and one that we would be happy to participate in.

Umm. This is part of the discussion that is ongoing and has been for ever. They are still going to probably focus on what they planned, not the reward curve. Having the discussion is important stil

I don't have any

Drama!

to give you. :P

I'm having the discussion. :)

!dramatoken

Let's get you a few!


Such drama, you've earned a DRAMA!

To view or trade DRAMA go to steem-engine.com.

Hell no we won't go! :P

SMTs and communities for the win, the major priority, not that prop which sucks in my view.

After going through all the information, the meet and greets my personal opinion is that these are all folks who have themselves played into mining the system from the beginning, and a couple more gullible enough to try and convince you they've been standing behind the scene all this time twittering fingers while their co workers were raking in the dough... I find that sort of hard to fathom. I think they've taken quite the hit over the last few months and are looking for a way to recoup some of their lost income fast and/or even trying to find a way to recoup some of the money taken out of steemit by Ned. It in my eyes only seems apparent that they care only about the upper crust of this platform by doing things that seem to hurt the lower end. In essence they should start a publicity campaign that says if you have thousands to invest we have a way great rate of return on that investment and if we don't we'll find a way. If you look at some of these people's accounts it's hard to imagine that they too don't have Sybil accounts and I find it rather ironic that someone who claims to be a short story writer has just been sitting around in the closet somewhere doing mundane task while her story telling counterparts were making millions. The amount of deception is staggering on this platform.

Hey whatsup. Have you ever seen someone held back from downvoting because it is too expensive and not rewarded?
Asking for a friend ;)

Posted using Partiko Android

Only those who don't understand that using the downvote feature should be used when you are protecting your investment.

For me this isn't just a NO it is a HELL NO.

Totally!

I know you all think that you are great authors and if only the bots weren't here you would be on trending. I actually think that is laughable.

Vote selling would still be here under 50/50. And it would be fucking cheaper. Everyone and their grandma would sell votes while grandpa would circle jerk with his buds.

This was never about economic incentives. It was about greed and how when you lack any kind of governance and community repressive tool you get cancerous growths draining the system.

That time was epic to be on the steemit but it changed drastically after that many are not even active

I'd like to see someone argue against what you just said.
I 100 % agree w/ this.

Steem Inc is getting it all wrong, we can have 65/35 for the curation 50/50 is definitely no for me, the rich will onl get richer that's what a 50/50 will bring

Read the @vandeberg post and educate yourself.

Of course, bottom line is, the rich still gets richer no need to sugarcoat this, even a blind man knows that move will be bad for community

That's what you got from @vandeberg post? Really?

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If the proposals to be accepted, bye bye to newcomers.

Posted using Partiko Android

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