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RE: Hardfork 21 is HAPPENING. What will change?
So the rich get richer and the poor get poorer...sad :(
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So the rich get richer and the poor get poorer...sad :(
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This is not true. These changes are designed to ensure that good content is more likely to earn more rewards and good curators are more likely to earn more curation rewards. That means that if you're a good content creator, the odds are that your good posts will earn more rewards. It also means that if someone who is just posting low-value posts and self-upvoting them, or using fake accounts to upvote them, they will be much less likely to earn much from that activity. They will also be more likely to earn a downvote now that everyone is getting some free downvotes. This will free up rewards that are being distributed to malicious users who are exploiting the system just so they can cash out, and make those rewards available to good content creators. These changes only impact the rewards pool, which is not distributed based on wealth except when people render self-votes. But these changes are specifically targeted at making self-votes LESS profitable and easier to police. So, in fact, the result should be the exact opposite of "the rich getting richer."
It's not only about creating good content. Take a look at the trendings. There are many low-quality posts. On the other hand there are also many high quality posts outside of trending.
Also in the non-mainstream categories even the best content creators will struggle to reach 20 steem.
Very good explanation, thanks! Now it makes sense to me, hope this will succeed for good creators
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My pleasure. I understand it's all very confusing. Unfortunately, when you're dealing with such a complex system, nothing is simple.
And whose fault is it that instead of creating a simple system, you created a mammoth?
The idea is to make things as simple as possible, but no simpler.
It seems to me that for us, a curation team who has spent years not being appreciated for thousands of hours of collective, voluntary work, can vote mostly below the 20 steem threshold despite having numerous high-end supporters and delegators (gtg, curie etc). This means that what we could argue as one of the highest quality sub-cultures on the platform, with a focus on STEM content, run by legitimately qualified scientists and academics and a dedicated team painstakingly quantifying quality and filtering plagiarism, can now, after years of effort, give its authors 57% less than they were getting.
Is this inaccurate?
Can you leverage on what is the definition of ‘good content’, a ‘good content creator’& a ‘good curator‘? And what does this HF21 have in place to stop the so called circle jerking where High value accounts keep upvoting every single ‘good quality’ post of their friends? What will the incentive be for beginners or low value accounts on this platform?
I'm afraid the answer to most of the questions above is: nothing
Can't wait for other "creative" answers on these questions.
be honest these changes are to reward the big fish so they can make more before steem becomes worthless
The big fish have so much stake in this network, they would lose the most if it were to become worthless
I'm only sticking around for the free speech outlet. I really don't expect to ever see the day that I start making any real money using Steemit. Congrats to those who got in early 3 years ago and made money.
Agreed.
@andrachy what happen to those who are getting rewarded by steemhunt . steemhunt give 1.20$ reward it means all this reward will be burn and author will get very less , it is against the author hardwork and This is not a so called social media that pay , Even no one on steemit upvote without paying him/her a money for upvote . So The big whales will start selling more upvote for poors who get less reward on post and want to avoid extra deduction
Its also designed so that people are incentivized to use bid bots to beat the curve. It is designed to discourage social interaction. To drive minnows and dolphins to move their stake to scot tribes. This whole HF is one big gamle that can blow up in our faces in more ways than one. The markets are clearly rejecting HF21, but what do the markets know , right? Or people who actually ran simulations to predict initial outcomes and incentives that favor an increased bid bot economy. Well, steem has been amazing while it lasted. Hope Steemit won't destroy the scot tribes in HF22, because thats where most minnows, dolphins and content creators will be hiding out after HF21.
Based on your response it seems like in order to try to combat the smaller fish who are trying to game the system you're enriching the bigger fish who are gaming the system more...?
I've been here for years and I haven't had any posts make 20 steem or more since the value of steem was much higher... Not saying my content is amazing either, but... It seems like the majority of posts that make 20 steem or more are because of bidbot use or because of being in the "in" crowd and have nothing to do with quality.
I think in the end, the majority of users who see this who are not "big fish" will probably not like that they are making less and that those who are well established are making more. I think it feels like a slap in the face to many people, myself included and I rarely get into the politics of steem anymore, but.. This just seems wrong on many levels.
If the value of steem were higher this probably wouldn't be as big of an issue, though it seems like doing this when the value of steem is so low is only likely to make the value of steem itself go even lower as the smaller users feel less welcome here as a result.
I could be wrong, but that's how this feels and it seems like a lot of other people feel similar.
This is very disheartening and makes me feel empty inside, I have to question my own viability. Bid bots are not an option for me because I live my life with honesty and integrity, I would rather quit than be a part of this bid-bot bullshit, it's as phony as the day is long. I see steemit walking towards a cliff with a blindfold on trying to pin the tail on a donkey, good luck with that. Irreversible mistakes are the downfall of many in history. I would not be surprised if many lower echelon users catch a ride out on the dolphin and minnow express.
Well put.
I'm a loyal hard working contributor to steemit. I have always avoided saying anything that would cause conflict, but in light of this new development, I felt compelled to express my opinion. Thanks for your acceptance.
See you on Instagram!
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Sorry I'm not involved in Instagram, however if you would like to talk, please comment on my blog. Thank you.
What is 'good quality' content in your book?
It would be helpful if you would edit your main post and include some of this explanation. All over Steemit, this part of your message is neither being heard nor believed -- yet it must be clearly heard first.
Curating manually will become more rewarding financially relative to delegating to bid bots. Hopefully that will lead to a higher price of Steem because of better content being rewarded more than before.
This is work. Work is to be avoided. Thus the bid bots exist.
Bid bots exist primarily for better return on investment. Auto-voting for optimal timing will be much more profitable now. But it takes finding content that is not yet curated by too many frontrunners.
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You're right!
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I hope so.
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How so? We will have to pay bots to get to the 20 Steem.
Listen to the rich insiders when they tell you: "This is NOT about the rich getting richer! You just need to try harder and put out better content."
Good point, it's not about quality of content any more. Some good posts simply get ignored.
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It is like a funnel extension which has the potential of bringing more money to content creators by giving more the curators which then leads to content creators getting more money overall.
But what if the rich decides to dump their steem and go chase a cryptocurrency that yields more profit than steem? Then everyone would become poor! :)