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RE: Autovorotic Asphyxiation- The MEGA CIRCLE JERK is choking-out itself through the rewards pool
Nice post. Seems like this could also be viewed as a one time redistribution of steem. Many accounts that got paid were accounts with high reputation and many followers. These were often long time steemians even if not the best writers. I think the one time distribution is good and will balance out in the end. The self voting is likely to be a problem. We do need some exponential (maybe 1.1?) but I think the 10 vote works especially if more accounts get the slider. Maybe if they don't have enough power it could be 1/3, 2/3, 3/3 slider.
We probably did overcorrect for exponential rewards and minnow influence but it was still a step in the right direction .
The ease with which substantial rewards can accumulate from self voting is going to be the next big problem. It's going to lead to a decline in quality and maybe 20% of rewards will have nothing to do with community opinion, which is the central purpose of the system.