You are viewing a single comment's thread from:
RE: A case for eliminating curation rewards
Surely, you don't want to be contributing to the greed of voters who will earn ~12%
This is the saddest part actually, people are fighting for crumbs and they want these crumbs so badly that they can't see the enormous value that would come from removing these crumbs.
No, the saddest part is that the rewards are only 12% because they have been reduced from 50% to 25%, minus the reverse auction. This is the reason why you're seeing more automation for voting. It has to do with that whole incentive thing. When the rewards for spending time/energy on a specific task are reduced, you tend to get less of it or a lower quality, or both. Or you get automation, which can result in the same outcome.
Hence Linux?
There are other rewards and motivators than money. As long as you do not include those in your economic thinking, I predict your predictions will not be very good.
Yes, but on this platform, the incentives are the cryptocurrency. It's the entire purpose of the token. It is meant as an onboarding mechanism for social media users, hence the payments in STEEM, STEEM Power, and STEEM-backed dollars.
As long as people refuse to acknowledge the purpose, I predict that their solutions will not be very good.