RE: Hard Fork 21: A Case For the 50/50 Curation Reward Model

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RE: Hard Fork 21: A Case For the 50/50 Curation Reward Model

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arunava (76)in #steem • 5 years ago

@gandhibaba I hate to say this but you are kind of wrong in a lot of points. I feel like the current model of 75/25 split is perfectly ok, I would have even been ok with a 65/35 Split in favor of Authors but 50/50 split is just a lot and I have my reasons for it.

1. From Steemit's point of view, they are proposing a 50/50 Split but in reality, it's going to be a 50% Curator Reward/40% Author Reward/10% Beneficiary Reward as most of the Daaps on the STEEM Blockchain uses at least a 10% Beneficiary Reward cut which is necessary for them to Sustain as well. By opting for this new Split procedure most of the Dapps might just shut down as most people wouldn't be psyched to use the Daaps if they take a 10% cut from their already low Author Reward.

2. It seems STEEM needs more Authors right now as might be shown in @penguinpablo's Graphs.

So shouldn't we try to keep Authors on the Platform?

3. Let's talk about the Bid Bot Issue. You said in the Post that Bid Bots might go down as it wouldn't be profitable for Authors to use certain amount of STEEM only to get a tiny Percent back but Bid Bots are currently running on the same Principle. Even now Bid Bot's aren't profitable for the Authors, it just gives a little exposure to their Content, not any Profit. I do agree that some Bid Bots may shut down but the Bigger ones will most certainly be still active.

Alas, I just want to say that I read the entire Post from @timcliff and I am ok with almost everything except the 50/50 Split as I believe there wouldn't be much content to Curate if there are no Creators to write Content. I would have agreed with a 50/50 Split if Steemit was lacking Curators but it seems currently we are lacking Authors.

5 years ago in #steem by arunava (76)

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krischik (61) 5 years ago

50% Curator Reward/40% Author Reward/10% Beneficiary Reward

That is indeed a very interesting point. Until now my Utopian posts had a 5% share for @utopian.pay and 5% for @steemplus-pay — I might have to reconsider that. But then I'm not in for the money anyway.

if Steemit was lacking Curators but it seems currently we are lacking Authors

Indeed, SteemIt is lacking good quality authors.

Also have a !BEER

$0.15

2 votes

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arunava (76) 5 years ago

Even I am not here for the Money, I am here cause I love Blogging here. It is funny how much I have written about myself here in two Years than what I wrote on Facebook in 4-5 Years. Even if this 50/50 Split happens I will still be here Blogging. But I can say this for sure that a lot of Authors are going to drop out as a lot of them do want to Earn something out of this and that is what worries me.

The Last HardFork also took out a lot of Authors and it looks like this one might be heading toward the same Direction.

BTW thanks for the BEER now I have 5 BEER's in my Fridge 5 more to go then I will start Distributing as well.

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1 vote

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gandhibaba (72) 5 years ago

Thanks for the fine points you've made here. Permit me to briskly make the following points.

Your first point is well received. Those who use dapps may be affected sharply because of the cut. However, you did not mention that dapps usually curate posts of those who use it. Esteem, Partiko, Busy, etc upvote posts that also increase the reward of authors.
From your charts, I find a correlation between the price of Steem and the activities of authors. Surely we need to keep authors and only a surge in the price of Steem can do that. And as @cranium noted, HF21 can do that magic.
Bid bots cannot survive the 50/50 curation model because they will become extremely unprofitable. I stand to be corrected, anyway.

Thanks for your inputs. I appreciate.

$0.04

1 vote

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arunava (76) 5 years ago

As for Dapps curating content there is a slight problem as it is not guaranteed that you will get upvoted. I don't really remember this but Busy curates either once every 12 hours or once every 22 hours and it also depends on the number of Followers you have. As for esteem there is no certainty of getting upvoted Everytime. Even if the posts gets upvoted it will still not be sufficient for the newbies. I have crunched in the numbers already.

Correlation of STEEM price to Authors, this is something I do agree on but what I wanted to say in my previous comment was that it is not that hard to bring in Authors but is surely hard to keep them Blogging on Steemit. I started 2 years ago and I hardly see the guys who started Blogging with me here on Steemit.

As for the Bid Bots I can assure you there are a lot of ways for them to be perfectly ok even after the 50/50 split. I can just give you one method right now. They can just increase the Minimum ROI from 10% to 50% and people would again jump in. You might say that it wouldn't be profitable for the Bidbot owners as they have to pay their delegators as well. There is even a way for that, they will be receiving extra Curation because of the 50/50 split so they can just power down some SP each week and pay the delegators. It's that easy. Even after doing that they can probably make a profit so I really don't see Bid Bits going out of Business. The Small ones might go but not the big ones.

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1 vote

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