HOW WILL THE HF21 AFFECT YOUR ACTIVITIES ON STEEM?
This is a comment by miniature-tiger I find very interesting:
Reading off that 2e12 contingent linear rewards curve...
Under HF20 a post receiving $1 in upvotes would give the author $0.75.
Under HF21:
- The reward pool will be 10% lower to fund the SPS.
- The CLRC will reduce the payout by a further 40% compared to linear.
- The payout to the author will then be 50% (rather than 75%). I make this: $1 * 90% * (1 - 40%) * 50% = 0.27 under HF21
So broadly: $0.75 under HF20 vs $0.27 under HF21, a reduction of about two-thirds for smaller payouts.
Have I understood that correctly
I don't understand any of that sh*t to know that EIP is a horrible idea. However, if this will be our reality in here after the hardfork then I think I will adjust in the following ways:
- Earn less, post less. That's what any rational person would do (and don't try to tell me how an increase in curation ratio would increase curation. It is quite laughable)
- Consumption of content. I spend close to 17 hours here daily and I hardly find anything I would like to consume (don't mind me, I am a very hard man to please). That won't change with the said HF21. I don't think people will be motivated to create more or spend their time and effort creating something worthwhile. If I am going to earn 50cents I am going to write a 50cents type of article.
Think in steem not fiat?
Okay...
Why did I spend/borrow money to improve the quality of my dtube videos?
That is because I was earning more. I would never have joined dtube if I earned a dollar or less. I practically came out of my comfort zone for dtube because it simply was lucrative. I love to write (I don't know how to anymore), that's my comfort zone. I left that to start vlogging because it paid better, simple and short. I will not sugarcoating it by saying I'm passionate about vlogging. I hate that sh*t! It takes me hours to even get things right most days. It really isn't as easy as it seems, for a person like me. The point I'm trying to make here is that I won't have done it if there wasn't a good incentive to do so.
How I'm preparing for the hardfork21?
1.Stack as much as I can. I don't see things panning out well after this hardfork and it might take time to adjust. I don't have that time but I do have steem, so I will just forget about it and hope it increases in value 10 years from now. That would be good right? I don't see this as a source income anymore. So I can source my income elsewhere. Hopefully, I get my inheritance before than so I don't spend time creating content for pennies. You even got a + $5 pay for writing a good article on Fiverr for your client. So why should I even bother for pennies? The only reason I'm not a freelancer is that I do not fancy the idea of selling my work to other people.
- Search for other opportunities within the crypto sphere. I've been doing that and well the experience has been relatively good. I can even become a freelancer. At least that will force me to spend time editing my work.
I really don't think the hardfork will improve curation. That's just wishful thinking.
I blog every day because steem is a major source of income for me and if that is affected after the hardfork which I believe it would then I will definitely have to explore other option.
Why is it all about you?
Err... Do you have any other person in mind?
You know what? I would have been fine with the whole thing if Steem Proposal System was more robust. 20% of the reward pool and also funded by steemit inc. This should be the most talked about thing--the SPS. Not the stupid EIP--brilliantly stupid. Ripple is investing in MoneyGram; Facebook is launching their own cryptocurrency; when was the last time steem was in the news for anything? If you ask I would say shrink that reward pool, use half of it to fund projects that will benefit this blockchain so we can stop bitching about nothing. Probably if the reward pool was so small that people got little from it they probably would stop their abusive behaviour. The funny thing is that this said proposal is geared towards curtailing the abusive behaviour of large stakeholder but it, in turn, will hurt smaller accounts.
Well, I have survived one hardfork, I might as well do the same after HF21. Who knows I might be one of the few people posting here daily and chances of being discovered might increase but at the same time I don't think I want to put my future in the hands of a few whales. Things should just click for me so I can buy all the steem I need so I can be screaming investor! Investor! Investor! I am an investor! Listen to me from this part of the world. Have a wonderful day, guys.
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My thoughts are for steem to moon crypto needs to go mainstream. The thing is once crypto goes mainstream there will be a way better blockchain developed that will be user-friendly and steem will be left behind. It may enjoy a short bump but developers will create a platform that is sought after and smooth to sign up/ create and share. I think steemit itself will be an empty room.
I feel the same way too. With companies like Facebook coming into the industry that might be a reality sooner than we think? The question is _are we prepared or preparing for it? Does this said hardfork take us any step closer to our dream? The SPS, great idea. The EIP, not a so great idea. At least with the SPS, we can work on some development project. If my earnings should shrink because of that I don't mind at all. But with the EIP... This is too much for the blockchain to handle at this point. That's my take.
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I'm not following this fork thing much, but I will deal with it when and if it gets here. I do not have enough power to be heard in this place. I do not invest here - I power down weekly, and live off steem money and have since Dec 2017. So I continually work no matter what the big guys do, and hope the place is still here each day when I wake up.
What I have been doing lately is working on my curation numbers. I have managed to double my daily amount in the last weeks and think I will do better as I keep working. So if they curation rewards double, I guess I will get some benefit of that.
Unlike you, I see way too many good posts here to ever be able to comment on them all. I am easy to please and try to help anyone who seems to be trying to succeed here.
Same here but I assure you that will be very difficult after this hardfork.
Different strokes for different folks. Secondly, it might be good but I have nothing to add to the conversation. I don't like reiterating the author's words just so I can leave a comment.
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If you have nothing to say, best not to comment. If you have something to add or have a question, this helps the other blogger. But if you cannot come up with either of those, it's chatter.
This H21 is pain in the ass and Steemit has made another poor job!
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Our fate is in the hands of the witnesses now. Maybe it's not going to that bad. I really want to see the silver lining at the end of it all. I want to be positive about steem again, I really do.
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This is very touching. The only way to earn what is worthwhile after HF201 is implemented is to post 3X of your before.
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Most people will do better posting less frequently at a higher quality level.
Unlikely. Why do I say so? They will be earning less. Would you spend an hour or two writing an article that earns you cents? That's not rational. If you were good at what you do then you can use Fiverr or any freelancing platforms and earn better.
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If downvote pools have the desired effect, then quality will start to make a lot bigger difference in post performance. That makes it likely that a higher quality post will do better than 3-5 lower quality posts (put together).
Already there are some elements of that... how much does a curie upvote change an authors's baseline performance?
Even if you disagree about the impact of downvote pools on the final outcome... you can't just assume that downvotes at 0.008% of total votes will continue to be so low and only consider the SPS and baseline 50/50 and Linear Convergence changes.
Different incentives will result in different behavioral outcomes.
The downvote will not have its desired effect because no one will use it. I won't use it and I can might you won't use it too. So who would?
If you're expecting passive investors who hold large stake to become active and fight plagiarism and abuse so you can have a cleaner tending page, then that's sad. Ask yourself and be honest, is this feasible?
Maybe they can delegate their sp to other accounts to do that. I'm not expecting that as well.
They are passive investors for a reason--they don't want to do the work. Their stake works for them.
If they wanted to combat abuse and plagiarism they can do that without changing the reward system. I have talked about that in the past.
I don't get what you're saying here. But if it has anything to do with the downvote pool making things better here then you are in for a surprise. I won't use it. I'm not expecting the big accounts to use it. Most of the people who downvote do so for malicious reasons. So I'm expecting it to be abused the same way the reward pool has been abused over the years.
It's pointless debating this because I know it will be implemented and that's unfortunate for steem (not me) because I will find my way around it and likewise everyone else I suppose.
I hope I am wrong. I sincerely do.
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That was my response to all the arguments made in the beginning. I don't know what the exact impact of downvote pools will be, and neither does anybody else. Like you, I think it won't be pretty, but it will definitely be different.
Currently only 0.008% of VP is spent on downvotes. Do you think that will change?
I am certain it will, because I've been told by people that I have learned to trust that there is at least 10MM VP eagerly awaiting downvote pools. I control 500k SP myself that will be downvoted as soon as I can figure out the best way of doing so without it hurting the people it was dedicated to supporting.
What will the distribution of downvote action be? Will it be anti-abuse initiatives? Everyone? Whales in pissing matches? I don't know the answers, but the downvote pool will have a huge impact.
Even if the only downvoting that happens is whales having pissing matches, downvotes remove the value of the upvotes they counter. Increasing downvotes from 0.008% to even 1% will increase the value of every upvote that isn't countered by a downvote. Increasing downvotes to 25% will increase the value a lot.
If things actually work out, that will be compounded with increasing value of STEEM. Slicing the pie differently won't make much difference if the pie gets smaller because of it, but if it results in a growing pie, then even authors (with their slice of the pie cut by 42%) will end up with more money from it.
I don't think that's the short-term outcome, but I still think that's the long-term outcome. I haven't powered down, and I've bought a lot of STEEM in the last few weeks.
No, I don't think that will change much significantly. Judging by the actions of top-ranking steemians, bidbot owners and the service they provide and the people they provide these services to, I don't think much will change. I'm certainly not going to go around downvoting people's post and I'm certainly more than 70 per cent of the daily active users won't. My proof would be their activities over the past two years.
That's not the problem of steem. We need better distribution. I don't necessarily want people to earn more but more people earning (distribution) something significant.
I don't feel that's how things will pan out. Fortunately, I power down every week. This is my major source of income as I do it fulltime. The bottom line is that we both have different reasons for being here. The inky thing we have in common is that we want steem to succeed.
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That means you are ultimately saying that those who upvote should earn better than those who created the contents.
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Response turned out lengthy, so now it's a post.
https://steempeak.com/steem/@josephsavage/who-deserves-more-authors-or-curators
This is the most triggering thing I have read all day.
"...for just being here"
Really?!
Steem was created to be content based blockchain. Creating content is an essential part of this blockchain. I don't need to convince anyone to upvote my post. If you like it fine, if you don't move on. A content creator is as important as an investor.
What do you understand an investment is? People invest so other can spend and adds value to their investment. You put your money in the bank, the bank loans it, it is used to generated more money. A percentage of that money/profit goes back to the bank and you. If the money sits in your bank it does nothing and sooner or later it will reduce in value. You sound like curators are doing content creators a favor and that's laughable because this platform will be dead without content creators. Steem would just be another bitcoin wannabe with no value, just people buying and paying others to protect their coin.
I don't care about the gaming theory. It is, in essence, is just theory not facts.
Steem will become more valuable when more people use it. Usage before investment. The investment will not come first, that's what people fail to realize. I won't invest millions on a platform that has 7k users daily. Make that 500k and see things turn around. It doesn't even make economic sense. I can earn more than $5 on Fiverr as a freelancer daily, and someone is telling me I should be okay with pennies. I don't feel entity to their upvotes but I want to put it out here that there are better options and people know that. Do you expect people to create what most of you tag as quality content for 50cents or less? That's the reality of most steemians and it will be harsher reality after the hardfork. A few whales won't bring sanity to this blockchain. It is impossible. Steem is bigger than them.
Everyone cannot be an investor.
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You were so triggered that you completely missed the crux of the argument. If curators get back more of their own money with each vote, it will be less painful to deliver some of it to authors each time. This could result in quality content creators attracting more valuable votes.
But they still have to attract those votes...
On fiverr you get paid $5 per piece because somebody has a specific content need that they need somebody to fill. What specific content need is your content on Steem filling? Plenty of content creators on Steem earn more than $5 per post (and not in self-paid votes either) by identifying specific needs and posting to those needs. Contest entries, oracle-d, steemhunt, utopian-io...
Plenty of content creators do well (maybe not quite that well, but without as much effort) by identifying and becoming part of community groups that focus on specific types of content... again identifying specific needs and filling them.
But if you just put something out there without assessing needs or building an audience for your specific content niche, then all you get are random votes.
Like a lemonade stand in the middle of winter. Somebody buys a pity cup, but it won't make you rich (or even cover expenses most likely).
Your first line is the major problem with steem. Anyone pursuing ROI is shortsighted in my opinion. You should want to get back your money, you want your investment to increase. You don't lose steem when you upvote. Your stake is only diluted. However, it's value can increase and that's what most of us are banking on for the future--that the value of steem will increase. I earned steem worth $0.27 cents last year, it has increased in value. Might go higher if we get more investment but that will only happen if we put our house in order, and solve our distribution problem.
Secondly, I don't see my upvote as my money. It is my duty to help distribute steem with my upvote to deserving authors. That's how I see it.
I don't think this true. Just a few people earn above a dollar especially when you compare the number of active users on the platform in relation to their earnings.
I talk about relevant issues relating to steem. That's specific enough. I make content I feel people will want to consume, in and out of the steem blockchain. There might be no demand for it but if it is good enough it can create demand. People want information. Data is useful/valuable.
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Yes it. is. But what you're providing is unsubstantiated opinion that conflicts with data. Here's an example:
I gave specific example of communities distributing substantial votes. @utopian-io delivers $3500 per week alone. Here are some of their stats, from Steemworld, captured right now:
Hmm... $50 max vote * 10 per day * 7 days = $3500
287 upvotes... that's an average upvote of $12
You can keep thinking it's not true, but the facts are not on your side. Value comes from people wanting something, not from you putting it out there for whoever trips over it accidentally. Creation does not create value. The demand is there already (whether discovered or undiscovered) and the value is created from identifying and fulfilling the demand.
And that's the crux of my post, which you completely missed before you were so triggered. Where does value come from?
If you're arguing that value comes from the act of creation, that makes you a de facto Marxist (because only the Marxists still argue that) and you will have a hard time on blockchain with code protocols that are designed around the economic reality of marginalism.
This is very touching. The only way to earn what is worthwhile after HF201 is implemented is to post 3X of your before.
I dont welcome this HF21 but am sure people with huge SP would love it.
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It is going to take more than that actually.
It is going to happen. Hardforks are usually expensive so they are trying to do the best with the resources they have, so I understand. As a content creator with less than 500 sp, it is going to be really difficult.
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Seriously it is going to be difficult. I just hope they could reconsider making it 50/50
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This is very touching. The only way to earn what is worthwhile after HF201 is implemented is to post 3X of your before.
I dont welcome this HF21 but am sure people with huge SP would love it.
More voting, less posting.
I have my doubts, too. One should always consider the perverse incentives in any scenario under consideration. In this one there are plenty. 50/50 by itself is not bad, however, smoke.io and Palnet are proof of that. But cutting down on author rewards for the small accounts could backfire on Steem in a very bad way. Well see.
If my organic rewards go to shit and people pull their delegations from @ocdb, I'll go for curation reward maximization by autovoting. If all fails, I'll continue treating Steem as an ordinary social media without rewards and continue to post something every once in a while but in that case I will try and find other avenues to monetize my photography and spend much less time here as a result.
You got a 36.47% upvote from @ocdb courtesy of @nonsowrites! :)
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