RE: Argument against (completely) proportionally linear effective voting Steem Power
thanks for putting a little bit of light to this subject. I'm here for 10 months and I still didn't understand the difference on reward curve. Your examples made it clear for me.
However while everyone free to do whatever they what with their stakes. They would just find a way to adjust to it to maximize their ROI so I doubt that changing it wouldn't change a thing in the end.
I didn't wanna spam with this 11 accounts voting pattern, but if you have time just take a look, changing curve to something else is just make to share the SP on less or more accounts. Result wouldn't change.
eonwarped said, "That's because many of them(whales) are acting greedily without the interest of the platform. But mind you, not all of them are doing so."
When majority acting greedily, it's too hard to spot the other ones. So giving stake-holders a higher hand is not something attractive for newcomers & investors. While mentioning investors we should also take a look how much does it cost to be a whale today and what ROI it proposes.
Not whales even orca's start to focus on curation rewards which is one of the not many options of a red-fish to grow. So while this greed is around it's hard to fix it with some code.
Indeed, but the point of aligning incentives is to achieve the situation whereby participants following their self interest (maximizing ROI might be the strongest of that category) the system benefits from the actions they take. That's the goal in applying game theory.
Making it in a whale's (and everyone else's) self interest to keep their SP in one place has the effect of highlighting their actions more clearly and opening them up to scrutiny. This scrutiny is one of the best features of this blockchain and an often unacknowledged reason why things are the way they are. Implementing n^1.2 implements a cost for whales who want to disguise their activities in obscure alt accounts.
Regarding rewards, I'm a firm proponent of rewarding those with stake or who are able to appeal to those with stake. Any other system is not Steem, it's some kind of welfare.