It's good that a larger investor into @sportsvoter has spoken about the tool being perhaps detrimental to the community and the price of the token - I get the feeling that the top investor is unlikely to say anything.
I did raise some concerns yesterday, and hope that @patrickulrich has this on his list of things to assess :)
I've definitely added this as a top priority to adjust. The top two things I'm debating on doing are 1.) making @sportspromo only pay in SPORTS POWER and 2.) potentially lowering the number of tokens distributed.
I think that forcing people into SPORTS POWER by delegation allows for their to be an opportunity cost to leaving the network. Users should be encouraged to stay and participate rather than see their delegation as a tool merely to earn more Bitcoin.
The second part was my own personal fault. When creating the values I wasn't taking non-SPORTS users into enough of my accounting. This is now being evident with the top delegator being from outside the community. I think a realignment of payouts to match a vote value to .003 (average SPORTS price before launch) will be beneficial.
What do you all think?
I think we have to first check whether the payouts by the delegation of SP to @sportsvoter is the main force of selling or there are other reasons behind it.
I am going to analyze all the selling of SPORTS to the market. Then we can see what might be the real force of selling of SPORTS.
Personally, I think the market is always moved by so many different reasons and manipulating the market is not good. Some consider selling SPORTS DUMPING, but I don't totally agree with that. Some selling, others buying, making a great transaction. More transaction is generally considered good.
About the title of this post, "Confess". I don't think @flipstar has anything to confess. Investing and selling and buying are all basic elements in the market, all of which make the market stronger.
I am one of the persons who sneaks a look at other's account transactions, honestly, to see if their words and behavior coincide. However, I do not judge people by their selling or buying since selling or buying should not be blamed at all.
So, we need to check what happened first by looking at all the sellings.
Solution?
In my personal opinion, the use of the bit bot, @sportsvoter should be advertised and known to the community more. I really like the concept of burning 95% SPORTS sent to the bid bot. The users burn SPORTS and still get paid in SP, STEEM, SBD with at least 0% ROI. I am one of the heavy users of the bit bot. But many don't use the bit bot, even though they could have 20% returns when using the bid bot right now. I think the reason might be they still do not know well about it.
And according to your design, if more SP is delegated to @sportsvoter, the distribution of SPORTS will decline until 499,999 SP delegation, which is good. But more people will be able to use the bid bot, still burning SPORTS and getting rewards by using it. I personally think we should promote the use of the bit bot.
Since my language is not English, I might have caused some misunderstanding in this comment. Please, be patient with my English.
the title maybe was not the best choice
No I think you did an excellent job of expressing yourself :)
I agree that there needs to be more time for the changes to really reflect in the market. That being said the distribution # was a large driver. This could be seen in the number of tokens that had the potential to be burnt in comparison to what was being distributed. While I think there's value outside of just the vote from their Steem Power delegation it was still far overvaluing the SP in terms of our community's value.
Here are my observations:-
(1) Since the sports liquid market is not that much matured, you are experiencing this knee-jerk reaction. Once the market gets matured and there is enough liquidity, this issue will automatically become irrelevant.
(2) Some people are saying, outside of sports community are also delegating and getting the liquid sports reward and dumping it. If we restraint this then I dont think it will be a solution. Dont you think that they are getting an exposure and when more player will come in some form ot the other, then it will be good in the long run.
(3) Giving rewards in SPORTS power is really good as of now considering the low price of sports. But the low price of sports is not a result of this and there are many other reasons to it. You can check all other tribes, their price is also low and that is all due to current bear market conditions.
(4) It is better to explore new sinks and leave the open market as it is, after all more buying and selling is really good and after some time it will also improve the ecosystem.
(5) Your reward structure is not really inflated. If you see the reward from 100000 to 499999 is fixed and it is becuase based on the delegation amount it fluctuates on daily basis. But because of this reward structure people are willing to delegate to you. So there is always a margin of excitement for the delegators in the reward strucuture, so no need to change that.
I agree with you
Full liquid payout is what excites people about tribe and putting an end to it might chase people away.. If there are other measures to control is devised like taking some money off the table, it will be nice but the idea of ceasing liquid payout for SP payout will make this platform lose vibes
I agree on all points. Make it happen Bossman!
I can get behind that but I would also would go in powerdown modus as I enjoy being able to sell a part of my rewards while staking another part.
But I think it would help. Maybe it just postpones the problem but it would give the tribe also more time to evolve and gather new ideas.
People can still use their stake while powering down, right?
Hi! Why I didn't get yestarday tokens? I delegated SP 800
They were distributed as SPORTS POWER instead of liquid SPORTS. I will be sending a payment in the coming days so that you'll get liquid SPORTS for yesterday's distribution.
https://www.sportstalksocial.com/sportstalk/@sportstalksocial/announcing-changes-to-sportsvoter