Self voting policy: 1/3 to me (max) and 2/3 rds for everyone else
Hey Steemit,
My current self voting policy is 1/3 to me and 2/3 for everyone else. Keep in mind that when I say 1/3 to myself, this is more of a theoretical maximum, rather than something I actually practice.
Right now, I don't even think I vote 1/10th for myself. I can't be bothered to look at my history and do the math, but that's my gut feel.
I think I'd be ok with someone who voted 50% themself and 50% everyone else. It's not the best but..I could live with it.
However if you are not even voting for others half the time? I have a problem with this, very selfish voting.
Dan worried about this too, and you see it in the whitepaper (you have read the whitepaper yes?):
The naive voting process creates a Prisoner's Dilemma whereby each individual voter has incentive to vote for themselves at the expense of the larger community goal. If every voter defects by voting for themselves then no currency will end up distributed and the currency as a whole will fail to gain network effect. On the other hand, if only one voter defects then that voter would win undeserved profits while having minimal effect on the overall value of the currency.
- From the Holy Whitepaper...
I love that the Prisoner's Dilemma is mentioned here. This is the classic example. A prisoner can benefit in the short term by acting in his own self interest, but cooperating prisoners will do even better in the long run.
Mr. Big Investor might say:
Hey Neoxian, I just dropped 60000 USD on steem, why shouldn't I vote myself twenties?
Dude, I totally get where you are coming from. I've dropped some serious cash into Steem myself, and feel sorely tempted to scoop up some bills back. But now..both you and I are heavily invested in Steem, and Steemit. We want this thing to take off right? (And ultimately get more rich, hey I'm not a saint here).
To many large SP accounts voting for themself and Steemit becomes this:
(Ouroboros pic from aquariusthewaterbearer.com)
The Ouroborus, a snake eating it's own tail. You may rack up mountains of SteemPower, but if Steem falls below 10 cents due to lack of network effects, then it all comes to nothing.
Steemit is a social system, fleshy human beings, interacting with each other, discussing, learning, being entertained, spending money is what we need. So sure, quietly build up your steem power if you must, but also share the love. This is the true path to success.
Thanks very much. One thing recent game theory has concluded is that "bad" behaviour - defined as sub-optimal - cannot be wholly eradicated, but can be minimised. This means this discussion can move forward towards an algorithm that is encoded that minimises the effect self-voting and voting-rings on the whole system, while still allowing some measure of it.
I already made a proposal about this a couple of weeks ago; section 13 in this article
This makes perfect sense, if more do this Steemit will fly a very very long way.
If accounts don't start to do this....Steemit will as you show, end up swallowing itself and there will be many many losing out on invested money and the reputation of Steemit will be totally destroyed.
It is a bad situation right now with 'pay for upvotes' as most seem to just upvote themselves and voting 'clubs' are also voting blindly on content...anything could get collectively upvoted into an undeservingly high place.
upvote & resteem
Great post. I completely understand self-voting and I do it myself. I just feel that I need to give some love to the rest of the community aswell, otherwise this whole idea Steemit is based on will fail. I don't think the platform can work if no one votes for others. That would just ruin the price in the long run.
I agree 100%. I do vote for myself, but probably have a similar ratio to you. It's idiotic to only vote for yourself strategically, as you won't get return votes.
Well said, I can see that you really apply it yourself but not just saying it. Appreciate your help to countless Steemians. If everyone apply this voting policy, Steemit will have become a great platform!
Man I totally agree, I don't see how the site can be healthy with that going on. We need to bump up curation to 40% and put a limit on self voting. Maybe 3 a day. Also for the good of the platform. Might need to put in place you can't vote on the same person within a 48 hour window.
This helps me understand and I do self vote but at about the same rate as you. I think the more Steem Power you have the more important it is to make sure you are voting for others in amounts equal to or greater than your own self votes.
Yeah it's important that everyone votes for others and not only themselves. I'm glad you're bringing this up !
I didn't know it was called the Ouroborus. It's hard to know what a inappropriate level of self-voting is.
According to our tool you're not much of a self-voter:
http://www.steemreports.com/votes-graph/?accounts=neoxian
(it doesn't quantify yet though)
Pretty nice tool there.
agree, but very difficult to convince people who invested a lot.