RE: Steem isn't great at rewarding content, but it could be...
Love this idea. It covers one of the two major blocking points that I see for STEEM to gain mass adoption. The other being able to spend STEEM in the real world and take out the barriers for people to convert it to fiat which is tricky and has too many steps at the moment as we all know.
The other one i see is the 7 day payout window. the problem being that you can create the best post or video in the world and after 7 days i disappears never to be seen again. Most content on youtube or reddit, whatever site you use can take months or even years to gain views and value. We expect it to happen in just days. What is the point in creating good content if it has no lasting power.
If we had millions of users most of my content would disappear in seconds rather than days. I had thought that with SMT's one of the front ends would provide a token which would give a weekly payout on your post every week giving content long term value and you could trade it for STEEM on your own time. Also with a system that rewards over a long period we could implent proper trending content and searches for all time content then people would create more content with the intention of having it seen for years to come.
While you have a different solution to the same problem i like where you are coming form. Having a good interface that allows you to search content properly and allowing us to add value to it at any stage would give youtube/ blogging/ authors a lot more incentive to move to the blockchain as we all know it takes a long time to build up a following and grow your rewards. Some people with large followings have come here and left after a few weeks when they were only seeing cents on their posts every time. If good content had time to rise to the top and kept giving them rewards then i guarantee that we would have a lot more people staying around. If they saw that every week they were getting a few more tips or payouts it would surely make them log in again and put more content on their profile.
This idea or something similar has my vote for whatever it's worth.
Thanks for the reply @niallon11, your support does mean something since the people that are in a position to actually make these changes are going to be further incentivised to develop them if there is a strong outcry from the community to add them.
I really like the approach you mentioned as well with a token that is rewarded indefinitely that can then be traded for Steem. I actually still don't know and have never heard a strong justification for the 7 day expiration date on posts. I agree with you that this is a HUGE disincentive for content creators to produce valuable content on Steem.
And I think that's actually probably the crux of the problem here on Steem is misaligned incentives. If you're a very large stakeholder, the design of the system incentivises you to delegate to bidbots or sell votes.
If you're a content creator, the design of the system incentivises low quality, but regular(daily) content. Since it only has 7 days to earn rewards, basically no discovery system, and the UX is only made for upvotes and not donations which equals overall low return especially when crypto prices are down.
The silver lining here is that all of these things are fixable. People like you taking the time to comment and spread these ideas is exactly what's needed, so thanks again! :)
I think that you are right one that. I've been here for a while and the blockchain is a totally different beast than when I started. People have realised that we need progress to keep going and have started to work on projects and ideas thay will help long term value. It would be great if one of the front ends did the same with this idea and pushed for better content and lasting rewards. Who knows? I've seen a few familiar names in this post that have the skills to do it. I would create my own interface and eternity token if I had any idea what to do. Match it with the steem token and use it as the currency for the site. Unfortunatly I can't do any of this but I will still keep posting and watching this space.
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Eternity token. ETYT? ETT, ETY, I think you’re on to something with that!
I was typing my reply and it was just in my head. Sounds decent though. Might have to set one up fast on steem engine before it gets taken.......😢😢 ETY for sure. The others don't fit as well.
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