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RE: Budgeting by Vote

in #steem • 6 years ago

Well said! You proposed a very interesting thought experiment. Steem allows everybody to become part of the token distribution process which is fascinating.\n\nOn the other hand, as much as we don't want them to, most people will still focus on short term returns. But I think its useful to tell more people not to think that way.

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6 years ago in #steem by
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     6 years ago 

    Yes, agreed. There are a few disagreements I've gathered concerning this--

    1. You can't expect people not to maximize. Incentives need to be set up properly to encourage "the right thing". -- My response to this is it's already there, it's just a matter of short term vs long term evaluation (This is pretty vague, admittedly).
    2. The notion that self-voting is a base-line, fundamentally 'netural' behavior, and that one can/should do better. -- This isn't comforting to me, because I still consider that neutral behavior to slow down growth. It's like, to borrow something I read somewhere, "wasted inflation". May as well not have inflated the currency at all.
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