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RE: Steemit's Biggest Investment Problem - The Cost/Benefit Analysis Reward Curve
Hey @timcliff, why not just tweak the algorithm to give more influence at lesser Steem and less influence at more Steem? Or is that what you mean by going against the white paper? Kind of like the $3 you can donate to presidential campaigns when you sign you IRS tax return. That's supposed to go to all candidates so the little guy at least has something to start with in campaigning. It's recognized that it isn't really a just system when someone who hasn't been climbing the company ladder called politics might be the best candidate but doesn't have a prayer without hundreds of millions in backing, which in turn attracts more backing.
If you could have more influence by having a smaller account, the people with big accounts would just split them into a lot of little accounts.
Sure, but there's a solution to that. It's called One Man, One Account. There really is no rational reason that I can see for people to be allowed to have multiple accounts, unless there's no way to get to OMOA without giving the government too much information. I wouldn't be surprised though if the gov. couldn't invent an algorithm that studies writing styles and figure out who's who. Or watch the flow of assets and see who's connected to whom.
But, let's say a whale split his account into a thousand little accounts. He's then lost his ability to market himself as a unique person and brand so not sure many would be willing to do that.
I think we need to get more creative. Maybe even offer big bucks to hire some Google developers who seem to do a good job of quantifying the "authority" of a content provider. Google is the 800 pound gorilla in search because they early on did the best job at providing search results that came from content providers who were authorities on their subject. If Steemit Inc. was on their game they would figure out who actually knows what they are talking about (like Google does), and figure out what any given person is interested in reading (like Facebook does), and provide a better social experience. With a ~$300 Million stake in SteemPower @steemit really has no excuse not to hire a small army of programmers to get that done. And preferably before someone else comes along and does it first. Like @dan who's looking for a test platform for EOS.
Steem is not one person one account. What you are talking about is theoretically possible, but it goes way beyond simply “tweaking the algorithm”.
Sure, but Steemit Inc. has how many millions of dollars at their disposal to accomplish these things?
https://steemit.com/smt-oracles/@ned/the-smt-oracles-whitepaper-call-for-academics-modelers-and-deep-thinkers
What's the takeaway I'm supposed to get from this, before I wade into it?
It is a proposal that could allow some from of one user one account type SMT.
I'd guess there are more challenges to integrating OUOA in SMT's than just within Steemit. I get the feeling Steemit is more a proof-of-concept for a community using the blockchain to incentivize behavior than an attempt to make it the best social platform possible so someone else doesn't make a better one and drain talent pool, wouldn't you think?