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RE: Proof Of Worth: Revisited And Upgraded
I really like this idea. Although, I feel it still has a loophole. If I have one whale at $200 up vote. Why not just split it to 10 accounts, each $20 a piece. Would this not theoretically override your algorithm and give the same amount of awards as now?
I really do like this idea that. I have not seen anything else like it. (I haven't seen a lot though) haha
I have thought about that. I have considered variants of the second algorithm so that the penalty applies before the next calculation which would help with your concern but not completely eliminate it. Your attack would bypass the algorithm in a majority of cases but technically decentralize rewards but the real issue is that is doesn't decentralize power.
I just thought of another simpler approach to this problem. Rather than verify votes comparatively, the goal is not to be the largest vote on any post that you vote on. Imagine you eliminate the top n% of the votes from the rewards calculation. Everyone still gets the rewards but we just remove the top n% of the votes.
Let's say n = 10. For most minnows, this removes their biggest vote and eliminates any self-voting issues. For the whale above who now has 10 accounts instead of 1 votes on a post with ten accounts. This proposal effectively guarantees that such abuse is 10% less effective in the current system. They could make hundreds of accounts, but they would still lose some amount of money.
But the funny part is that minnows have the ability to flag via upvote. Since their votes are so small, their votes push these bigger votes towards the front to get chopped by the chopping block. So with @haejin his large fanbase would be his downfall pushing the big votes outward.
People would be rewarded by having the support of the community and would simply have their top votes cut. In this system everyone should self-vote for themselves and let the community verify the votes, with only the biggest votes not being verified until replaced with larger ones. Such an approach would eliminate a majority of whale and bidding bot abuse and would require whales to divide their accounts into hundreds of accounts in order to achieve desirable results.
Could you write a new piece including this?
I did write about a piece covering similar ideas a few days ago here. The same basic idea is covered there and I go over another idea as well.
I would resteem, but I fear you might get a flag. I don't think so though but, better safe than sorry.
I wouldn't care about getting flagged, I would rather spread the information and get flagged than bow down to some TA wannabe. Do whatever you please.