Steem experiment: Burn post #3
January 17 post for burning rewards. Same rules from: https://steemit.com/steem/@smooth/steem-experiment-burn-post-1
January 17 post for burning rewards. Same rules from: https://steemit.com/steem/@smooth/steem-experiment-burn-post-1
@smooth how about re implementing what you did during the HF17 and 18? That one really worked. Not possible anymore? Is this actually working?
edit : burning currency is very very bad imho
so how about letting history repeat itself
besides the self voting and circle jerking of 100k worth accounts is very very rampant these days
have you thought of it?
comment upped full blast for visibility and I hope you reply
thank you !
If you mean the whale experiment where we encouraged whales to not vote and would downvote against those who did, there isn't nearly the support for that now that voting is linear and the power imbalance isn't so extreme that non-whales have no influence at all. Most everyone can now allocate some rewards on their own, which wasn't the case before. It also wasn't sustainable as whales who didn't want to be limited would have moved (and probably were already in the process of moving) their stake into several smaller 'non-whale' accounts freeing them from the restrictions.
So it was a a good experiment and temporary remedy for extreme power imbalance until the n^2 rewards were removed not something we can view as sustainable going forward.
Have you considered making this burning experiment more fun and eye catching? Just because it is burning doesn't mean it has to be boring :)
Maybe some burning meme of the day? Let's make burning fun.
Yeah I agree! I think it'd be cool to have some sort of game where you have to burn Steem to play. Not sure how that'd work tough.
Proof of burn
Author reward 286.023 SBD, and 61.845 STEEM POWER for smooth/steem-experiment-burn-post-3
Sold 286.023 SBD for 434.760 STEEM on internal market
https://steemd.com/tx/3f5ecf49b1e530fe5ff27b99077cbf331c761838
Total burn of 61.845+434.760 = 496.605 STEEM
https://steemd.com/tx/e792b87073eae1c19b25d56f9366105593ec06ab
This doesn't solve the problem, all you are doing is removing a portion of everyone's rewards and deflating the currency.
Fixing the inequality is very simple.
All the whales have to do is curate quality posts outside of the trending page the same way that they used to or delegate power to someone that is willing to curate.
Nice idealism but we can't control what other people do, only what we do ourselves.
@smooth
Well, if you are like the creator of this site (or a moderator) you can probably adress this.
Flagged to save the "Steem" from burning and return it to the reward pool.
I get the idea and in the current culture, I understand the temptation.
The number one issue the site has is the lack of Wealth Distribution. (In my opinion) I don't mind if a few scammers get a few steem, let there be a broader base of Steem Holders.
Yeah. Creating more SP heavy people to help more people become SP heavy people to help... It’s the only way to create niche communities.
I see it as we have the tool to curate good content. That is not being done instead many are "renting" their SP by means of delegation and/or voting bots. Now they are frustrated they can't control how that gets used. (scams and spams)
I would like to see more people with some voting weight, especially those who actually like to use the site and curate.
The thing I still like is we have to tools to discuss it and the Freedom to each support what we want to see more of.
I’ve noticed, in only a short space time here, that more and more discreet curation initiatives are spinning off from the big ones. Which is good to see.
Hopefully, eventually you’ll have little communities or niche tag specific ones starting to sustain each other, rather than around a central body.
The personal, human driven entities are great though. Real utopia vibes about some of them.
By actually taking the payout and then burning the coins, it would increase the value of all circulating coins, but it would take from the payouts for the days in which the posts were listed, wouldn't it?
In the sense that each post/comment that earns rewards 'takes' from the payouts of others then yes. In reality, a better way to look at it is that each post or comment just receives its share of the rewards based on votes, including these.
Makes sense. Thanks, and have a great day!
good
Upvote & resteem buddy.
@smooth is there a resource on Steemit to get a crash course in all this, and how Steemit was built. I'm big into web dev for my career and im curious about how people use the blockchain. I love the @dtube website too, but there are a billion other resources we could build on Blockchain tech/Steem connect - know what I mean? Anyways, I'm just a newbie here, but diving head first. Thanks for the input in advance. 👊
I know there are many resources are available but I'd don't know where to suggest you look, sorry.
@smooth, thanks a bunch. I appreciate it, I’ll just scour google like I usually do lol 😎🤙
I’ll follow you as well and try to piece this all together.. cheers 🍻