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RE: Where do the Contribution Rewards come from? Steem-Help - Requested by @leksimus
You say
The system has been set up so that the Top holders cannot earn enough in Contribution rewards to cover what they are synthetically giving away.
What's this? I didn't know about that. How does that work?
Distribution is key to Steem becoming a stable cryptocurrency. At @dan @ned have set up the rewards algorithm heavily weighted to Creations, that they cannot keep up with. Apologise for the self promotion
https://steemit.com/steem-stats/@hisnameisolllie/steem-distribution-revisited-top-steem-power-holders-to-distribute-up-to-34-3-of-their-control-over-the-next-12-months
pshaw... after youre done cooking up those books, are you going to make us some dessert.
But whales could grab a huge chunk of the creation rewards for themselves, right? If they're what @dantheman calls "evil whales?"
The problem for the Whales is, there accounts are so large, that they would need to have blockbuster posts every day to cover the Dillution.
Most of the Whales are anachist, and would not want to be seen supporting such elitism (you see this already with Whales, downvoting Whales/pulling upvotes before payout, it happens a lot, probably at the request of the poster).
Your right, 'they could', but it will kill the project so they won't...
Or they'd have to get almost all of the block production rewards and most of the (SP based) curation rewards. (spoiler alert they do)
Ahhh, right of course. It's all in the percentages. That is clever, I hadn't thought of it.
And I know that even if they could, they wouldn't because they understand the long-term consequences. I just really like asking the questions "but what if they wanted to hurt the system? Could they? How badly?"
Thanks for the reply!
:) I've seen your work on Game Therory. I would expect nothing less. Always great to bump into someone looking at all the angles ..