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RE: Why free downvotes are a good and necessary part of STEEM
Investors are limited. They put money in to take money out, and this gives Steem value. So if an investor gets a high reward, they are doing it with their own money. See rate-limited voting in the whitepaper (15/32). If you and I go in 20%/80% on a pizza, and I paid 80%, I will get 8 slices. If something happens which prevents that, you’ll never share a pizza with me again. Don’t expect three slices of my pizza without my permission and then expect me to not call you a communist. This is simple math, don't give me that common core B.S. The sense of entitlement that communists and socialists have is ultimately their own undoing, this has been proven time and time again. Don't shit on me and tell me it's chocolate rain.
What a silly example once again. The pizza and the money are gone after eating it, Steem stays around. Your stake doesn't go down, not even percentage wise, curation rewards are enough to beat inflation. You are the one who wants a free pizza, by increasing the percentage and the value of your initial investment on the backs of those doing the work of creating attractive content. Guess what, free pizza doesn't exist.
I will not call you a feudalist now, but I can do silly examples too! Do you expect free flights when you invest into an airline? Is it communism or socialism that the pilots and all the other personnel get paid?
The sense of entitlement here is all on the side of the investors. Something not completely unique to steem I have to admit.
https://twitter.com/JackSmithIV/status/857804261509517312
People invested a bunch of money into a system that creates virtual tokens. These virtual tokens are generated at a certain percentage depending on the year and based on the total supply. It's 2019, which means that the percentage is 8.24. In two and a half months the percentage goes down to 7.82. Long story short, there is enough pizza to get us to 2035. But yes, the pie gets smaller and smaller every year, and that's by design. And if Steem survives the mass culling of investors, this means the coin will gain more and more value, and this is because of the planned scarcity. Also, if I pay for or enroll in a program that offers frequent flier miles, you bet your ass I'll expect some free flights. If not, I'll take my business elsewhere.
As said in a previous discussion, we wouldn't need any content for that system you have in mind. Unnecessary overhead, and there's plenty of PoS coins that offer exactly that.
Steem never offered guaranteed rewards for posting, who thinks that made a bad investment because they didn't research properly. Your stake gives you a right to curation rewards (getting under 8% means you do something extremely wrong), and the interest on SP (2%). That's it, more than the inflation, everything you want more is free pizza.
If you expect frequent flyer miles for buying the stock, you set yourself up for disappointment. That's not the companies fault then. You invested in something which has a chance to raise in value, you didn't spend money for something in return.
That's the thing though; Not everyone comes here to do PoS, some do, and it can look nasty on trending. This is why trending needs to get fixed. However, if we don't respect the upvote autonomy of self voters, and or bid bot users, then we'll lose stakeholders. As people sell, it will drive the value of the token down. You know what I think, we should add a voting system (Reddit style,) that only works to sort content. It doesn't allocate value, it just sorts. One sort vote per IP address and all votes are equal. A system like this would encourage me to go to trending every day, just to down sort undesirable content, and to be able to do so with a clean conscience knowing that I'm not disregarding the merit of someone's stake or for that matter, stealing from a bid bot user. Change downvote back to flag and call the upvote button a Tip Jar. Maybe I just need to learn to code, it could be so easy to make Steem good. The fact it hasn't gotten there yet is a colossal failure of imagination.
Well, that's a whole other system, where content isn't connected with the coin at all. If someone comes here not believing in the idea to reward the best content they're simply in the wrong place and would be better off to browse Reddit or create their own subreddit and invest in a PoS coin.
That you suggest one vote per IP address shows that you would need to learn a lot more than coding. The stake weighted voting is done for a reason, imagination isn't a positive when it leads to unrealistic ideas.
I agree in part, but also disagree and let me explain why. Regardless of the reason they came to the platform. They provided a service in purchasing the token and continue to provide a service in the HODL if they are powered up.
The goal should be to keep them powered up. If this means they are dead set on on extracting the maximum value that the rate limited voting allows, then so be it.
If it's really a problem, fix the rate limited voting. Anything is better than a bunch of reward poolice running rampant around the blockchain looking down their nose at content creators and doing the civil asset forfeiture thing.
I think you misunderstand, the upsort downsort would be condenser only, it would have no effect on the blockchain or the rewards.
Nobody forfeits any assets. It's not theirs as long as it's not paid out.
I misunderstood the sorting, but I still don't get his that would incentivize professional content creators to spend their time here. They need to get paid, not rewarded by a ranking.
Try convincing a freshly on-boarded user of that. I tell you what, for sake of argument let's call the downvote a sanction. Now, I don't know how you feel about sanctions but they're generally viewed by learned people as an act of war. So if you don't want to think of it as civil asset forfeiture (or theft), think of it as an act of war. And this is where retaliatory downvotes and or flag war come from. Somebody starts it, and then it just continues on ad infinitum.
That's the thing, the sorting system is separate. You'd still have the upvote button, but it would be called a Tip Jar. The upsorts and downsorts are seperate, Reddit style. I think this kind of system would create more harmony, less flagwars, and less drama.
This is very good. I like it. It will be a constant battle fighting self voters and potentially will end up doing more harm than good. Potentially much more.