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RE: Contests
The problem is contests started because
a) participants are not being rewarded properly;
b) because of bad manual judgement;
c) due to little participation we have tiny figures like 5-10 or dozen entries (often they are from the same folks, again and again) which makes no real rivalry;
d) really creative persons (not just farmers) rapidly loose the intrest and cancel activity when they are getting back a weak response, be it feedback or upvotes/payouts.
there are probably e) and f) as well, etc.
I participated (once in a while I still do) and I host contests.
You made me think with your answer.
As a host I noticed it doesn't matte how high the prize is. I tried 15 steem, not more participants, I also had less those who join are indeed mainly the same and.. I have to ask them after a few days after posting. They join but I think they are busy or asked too frequently and if it comes to it you invest in answering replies and do not check if you are mentioned.
If an contest is only joined by a max of 3 people it's not worth hosting at least it is how it felt to me back then. Today I believe the contests I host are more interesting, more engagement and the entries are of a higher level. For sure not everyone is able to join but I don't see that as a bad thing. It is nice to learn something new with a group.
If it comes to a) I like to add: the host is not rewarded properly either. For many years I hosted contests and I support others who do and I pay all prizes myself and always did. I wrote a lot to scratch those Steem together to be able to. What I miss is people who join a contest out of fun. If it's all about being paid only there's no engagement and to be fair the average entry to a contest is of low quality.
With the rest I agree and for sure there is an e), f) and more.
You write intresting information, important to consider, especially if one gonna venture into contest-running. I rather not dare, myself. Cause, uh, I do understand it is damn time and energy consuming, and also - require fair judgement... especially hard to choose the best when there are not so many entries (and all of them low).
On the prizes... I once was told that having this kind of fixed size reward is not optimal, making it % from the posts rewards is a better way to go (more easy to collect the prize fund, but more important, it eliminates 'thick farming' and indeed, rather provides more devoted participants who enter it for fun, not for rewards only).