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RE: Steem 0.14.1 Released - Hardfork Postponed until 9/20/2016

in #steem8 years ago (edited)

Your understanding of the change is also lacking.

I think i understand the effect pretty clearly, though i really don't get the programming internals, because i don't know how to code. If there's something im missing, I am certainly always eager to learn.

Many of the witnesses upvoted my post about the effect of the proposed voting changes in .14... while that doesn't necessarily signal agreement, in the absence of explicit criticism it seems to signal the acknowledgement of at least a basic, rudimentary comprehension on my part.

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@james-show If you read the discussion between me and @biophil, he even admits that his post would be misleading to those thinking of vote strength in terms of money, which is the way other posters like sheninagator were characterizing it.

Phil and I even ended up agreeing on the general potential effects later on in my post about the change.

If its the one about concentrating voting power (potentially even as far as one a day), i agree with you to an extent. But what you don't mention (idk if you get it or not) is that if you started with, say, 40 votes worth $1 each, concentrating them all to 1 vote day would not yield one $40 vote. At least not necessarily. It would yield a vote worth more than 1 dollar and less than 40. Where on the scale it would fall would be largely dependent on other poeples' voting habits, which are difficult to anticipate.

@james-show when you say

Divide 5 by the # of votes you do now (per day); Use the result as a% vote weight. So say you cast 30 votes/day now; 5/30= 0.167 or 16.7%. In the new system cast your votes at 16.7% wight.

This is true. And, iiuc, if you vote this way, your 30 votes will be exactly the same in terms of how many Rshares they are worth. IN fact, you don't even have to set the slider, as your vote power will eventually just hit that equilibrium.

However, in terms of real money those percentage adjusted votes will not be the same as they were. Those 12.5% votes will not be worth the same as your 100% votes used to be. They will be worth less. How much less depends on the voting habits of the other people in the system and is difficult to anticipate.

So yes, everything you're saying about adjusting your vote percentage and nothing changing is true, if youre talking about Rshares. If you're talking about post payout, then not so much (at least not necessarily).

this is one of biophils comments on my earlier posts on the subject.

Oh, I might as well chime in. @sigmajin and I have been vigorously miscommunicating on that post you linked to. Our misunderstanding boils down to this, which I just realized today: we're measuring the "strength" of a vote by two different measuring sticks. I'm measuring a vote in absolute terms by how much it boosts the rshares of a post (the more rshares a post has, the more weight it gets in the reward pool), but he's measuring a vote by how much it boosts the payout of the post. His way of measuring is totally legitimate, and I'm guessing he's right - we probably won't see an 8x increase there. On the night of the hard fork, we almost certainly won't, because everybody's power will shoot up all at once and everybody will cancel each other out. A week later, we'll be back to some sort of equilibrium, and then we'll probably have a significant increase, but possibly not as high as 8x. It just depends on total voter participation; if participation goes up (a good thing), the increase won't be 8x. If it goes down (a bad thing), the increase will actually be more than 8x. It's very difficult to predict.
I really really really wanted to argue that his way of measuring is "wrong," but it's not. It's just unpredictable.

You for sure do not understand the change if you think:

Biophils post was misleading, IMO.

or that there was in any way shape or form any 'spinning' in his explanation

A lot of people tried to spin the "explanation"

And I am not talking about you "understanding the exact way it is coded", I mean his explanation is exact and mathematically correct.... but then again I think 1 vote/day target or even 0.5 votes (per current explanation) is beneficial for any and all curators (more so for the smaller ones)...

I am answering to you here @sigmajin because of the max depth.
Now, I would have explain it differently than biohil. I do not know if it would have been more easy to grasp for the people that do not get it from his explanation...if you are interested here is a short version of my explanation . [I did not bother writing it in full article, as I 99.99% of the time I end up with less reward than my time is worth.]
If you want to curate just as you do now:
Divide 5 by the # of votes you do now (per day); Use the result as a% vote weight. So say you cast 30 votes/day now; 5/30= 0.167 or 16.7%. In the new system cast your votes at 16.7% wight.

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