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RE: Does the 7 Day Payout Period on STEEM Still Make Sense?
I don't think limiting the payout to 7 days is a good idea. It shifts the voting power from content to $. I thought steem was supposed to be about good content. It seems silly that an author can write a short story and publish it with a publishing company and be paid royalties forever. If that same author posts here they are limited to a 7 day period. Find your audience in 7 days or you wasted your economic incentive...
I absolutely agree with you on that point. It does not seem to be a reward system that incentivizes long-term value of content. Would it make sense to abandon the limit altogether?
I don't have a lot of experience yet as i am only on steem network for 2 days. If you make the reward system longer than 1 week, then we would need an algorithm that would only give monetary credit for the upvotes in the last week. We would need a feature like this or else you would get paid every week for week 1 upvotes.
Thanks for your thoughts. And welcome to steem- looking forward to your updates 😊 did you write an #introduceyourself post yet?