New Steem is Live After Hardfork 22 - Opinions and Concerns

in newsteem •  19 days ago 

hf22-header

Direct from the desk of Dane Williams,
This is not your average forex broker blog.


Evening team,

So we saw hardfork 21 go live, then to instantly fix some well documented issues, hardfork 22 soon followed.

Being just a humble content creator, I'm certainly no blockchain tech-head and quite frankly don't understand or care for the details around what happened.

There's obviously a tonne of what, why and how content from witnesses and developers actually involved in the hardforks, so if it's something that interests you, then go through the #newsteem tag.

It's all there.

I do however, have an opinion on some of the changes and what I think they will mean for both myself and Steem as a whole, which I go through below.

50/50 Author/Curator Rewards

I'm a content creator, so of course I'm not totally stoked with this change because I'm going to earn less money from what I write.

I understand that for the value of STEEM to increase, you want more of it being locked away as Seem Power. By changing the curation reward value, you're giving more incentive to users to power up their Steem.

But...

If you're taking away the incentives for quality content creation, then we're just turning Steemit into a cesspool of garbage. Therefore, it doesn't matter who's curating the content, because it's all shit anyway!

We're meant to be primarily a social media platform that relies on quality content being created. It is THEN organised by curators and sent to the top where it will get the most eyes. If the quality isn't there in the first place, then there's no point in even having curators.

This makes it a fair enough concern if you ask me.

What I'm really worried about however, is the change to the reward curve and how much it will discourage smaller accounts. When we're talking about trying to decentralise and not give all the power to the top 5% like in other companies/blockchains, this change could really hurt Steem.

There's a lot of unanswered questions here, but they can pretty much only be answered on the run by the response of creators, curators and readers on Steem.

So now we wait.

Free Downvotes

Downvotes not sucking away your VP is however, a great move for Steem.

We can instantly see that the Trending page looks completely different to what it once did. This is purely because the community has decided that they're going to target those who abuse the reward pool, by an overzealous use of bid bots on trash content.

I've never agreed with bid bots, but understand that in a free market like Steem, if there's an advantage to be gained, then someone is going to take it. I just love that the community has taken it into their own hands with free downvotes, and essentially trashed the bidbot business model.

Keep an eye on the Steem Whales clean trending page in order to easily see who shouldn't be there, thanks to bid bot abuse. I've been using it a bit and it does the job.

I do know however, that shit is going to hit the fan when some petty cunt with a tonne of SP, doesn't want to be told that there's a bigger picture at play here, and downvotes all your posts for the next month in retaliation...

It's going to happen, we know it is. But what are we supposed to do when it does? Your account can get completely destroyed if you piss off the wrong whale.

Again, we have to just and wait see. There's really nothing else we can now do.

Best of probabilities to you,

Dane.



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  ·  19 days ago (edited)

This guy is a whale who was abusing the system and all those years he wanted this change (I was waiting for it, too). There are a lot of posts and comments, but this one is the latest, even it is 3 months old.

https://steemit.com/steem/@trafalgar/eip-faq

And here is the change that already is happening.

https://steemit.com/bidbot/@aggroed/well-that-escalated-quickly-hf-21-22-and-bidbots

The whales are who stand to make the most money from the change. They don’t have to put effort into writing, just read content and upvote to get their pay rise. That’s an issue...

However, the changes to the bid bot industry are there for everyone to see. It cleans up content that shouldn’t be trending and brings the organically popular content up. This is definitely a positive.

What’s your stance on the changes?

Posted using Partiko iOS

  ·  18 days ago (edited)

I think everybody was finally convinced that STEEM economic model was broken and it couldn't last any longer. And yes, I'm happy that it took only 3 years to make this change. That also means that no more burning investors money. The party is over.

Btw, this post says how it works in real life.

https://steemit.com/exyle/@exyle/spup5-goodbye-linear-exyle-welcome-liberated-exyle

But doesn’t that just show that he’s no longer incentivised to create quality content, so he’s just curating? And If there’s no quality content to curate, then does curation even matter?

That’s really the question I pose in my post.

Posted using Partiko iOS

But doesn’t that just show that he’s no longer incentivised to create quality content, so he’s just curating?

Good! We are getting closer to the point. Yes, he wrote that he is no more motivated so much in content creation and that he is happy about it. Why he is happy about it?

And If there’s no quality content to curate, then does curation even matter?

This question is made assuming that this is true:

  • he is generating good quality content ✅
  • everybody will be upset about him stopping posting it ✅
  • all other good content creators will stop posting ❓

Lets assume that he is good content creator and most users like it and we skip the tiny thing about his big vote that motivates to vote for his post. 😉

What happens when there are less posts to vote for and he stop voting for himself?

Just a reminder that STEEM rewards are split between posts that receive the most votes.

What happens if 99% of content creators stops posting any content and there are only 1% left?

Do you think that whales are going to waste their votes and stop voting for those 1%? Knowing that they receive 50% from it. I doubt. 🤑

Ouch it hurts to read this! Any idea why he did came after you?
Regardless of that! I don't comment a lot on your posts but do read lots of them!
Too bad, I can't upvote those back to green figures. I am just too small for this!
But I can offer you a !BEER

Hang in strong!
Cheers,
Peter

To view or trade BEER go to steem-engine.



Hey @forexbrokr, here is your BEER token. Enjoy it!