Pay outs should be every 30 days, indefinitely
So, I have noticed one thing. Perhaps, I am mistaken, and I hope someone could correct me.
Readers and posters are more interested in how much they can make within the first 24 hours versus actually reading a post after the first 24 hours.
It seems that the shelf life of a post is 24 hours. Meaning, after the first 24 hours, no one really seems to care about reading posts that are old and "upvoting" them. I am assuming it is because those who vote for a post do not receive anything after 24 hours, it is only the authors who receive something. I hope I am not using the wrong term, but I think there is no "curation" after the first 24 hours.
I feel that the author should get "rewarded" and those who "upvote" should constantly profit. However, they should be paid every 30 days. In other words, get rid of the first 24 hours paid out and make it 30 days. This way it would also control and correct Steem inflation and increases the price of Steem.
This way older posts are not wasted because people do not find an incentive to reading them. Also, those posts that don't accumulate a lot of "rewards" fast, that is within the first 24 hours, have 30 days to accumulate something worthwhile so when cashing out for Steem or Steem Power, it would be worth something.
There are a lot of good posts here on Steemit, and it would be a tragedy if they got lost.
I am really enjoying my stay here and I am slowly getting the hang of it. So, what you have just read is only my observations so far. I could be totally wrong. Please correct my understanding. I want to learn.
@tamin
I completely agree.
If we were to find a way to continue payouts after 30 days in theory someone could possible live off the royalties of their articles for the rest of their life and this is a big incentive for authors and their followers to move over to Steemit, who currently sell their work for more than what the initial payout is worth at the time.
Also I am not a lawyer, but from what I am hearing by not paying authors after 30 days it could lead to legal issues and if Steemit ever decides to allow advertisements on here, it can make the situation even worse. I understand that there are technical issues that need to be resolved before this can happen, but it is better if we do it on our own before we run into the legal issues and it is forced on us.
Luckily we have the talent to fix this before it becomes an issue, but we need the motivation.
I agree with you completely. When I post I always cringe at the possibility it won't get traction immediately and then get buried forever.
@thewisesloth,
I feel the experience here should not only be a business venture, but it should also a true community spirit. In fact, I would put community spirit first.
Allowing good posts that people worked hard on to go to waste is truly a waste of talent. Some seem to have mastered the art of what works here and how to benefit the most out of this platform, making a quick buck. But, then again, I see the same people who fail at other times with their strategies. Put short, it is a hit or miss. The people will decide what they want and what they don't want. The mechanics of this platform could be mastered, but there will always be the element of unpredictability.
So, if everyone simply came here for the community experience, and making money was secondary, then I feel that the love and bond between members would attract more and more people and as a result the value of this place would sky rocket.
Humans are not robots. Classifying humans with robots will really slowdown this exposure of this place.
Just my $0.02.
To further your point, I feel like more Steem should get paid out to people who comment and upvote. Not everyone is a content creator. Facebook embraced this and catered to networkers who share information. I don't want Steemit to become Facebook, but it will hit a growth ceiling if it doesn't cater to more types of people than just content creators.
Yes! Content creators have no purpose without those willing to read them. This place will be nothing without spectators.
@thewisesloth
I am not sure if you are on https://steemit.chat, but that is a good place to meet people and promote your articles, I help mentor people on there and if you ever join send me a PM. There are also podcasts that you can get involved with and other fun stuff that can help your posts find an audience, but at the moment there are not very many people here to just read posts. I am lucky if 25 people will even view one of my posts and I still haven't cracked 30 people yet.
Anyways I am @gonzo on chat, PM me anytime.
I agree that Steemit could benefit from a longer term view. I think we should make weekly payouts to both author's and curators for the entire life of the post. The 24 hour payment currently plays to the 'lottery effect' which is probably helping to drive some of the content creation. We probably can't remove that until the community becomes stronger, however, I see no reason why we can't encourage writers and curators to look at long term value.
I also think posts should receive credit for pulling in readers from google searches (something small like $0.01). Encouraging writers to incorporate SEO would help bring more users into the Steem community.
@leongkhan,
what is SEO? And how do people pull readers from Google searches?
SEO = Search Engine Optimization
It's the use of keywords that people search for on search engines like google that causes your website or articles to show up on the search results page. Most internet users do not know that Steemit exists, but if it continually provides that answers to the questions they ask Google, they may take an interest in learning more about it.
The following link has a beginner's guide:
https://moz.com/beginners-guide-to-seo
@leongkhan,
thank you!
I agree with this post, at least from the little bit I've seen thus far. I think another good reason to award both the author and the reader beyond 24 hours. Is that it would create a system where authors are more likely to write on evergreen topics which in the long run may bring more visitors from outside the site (ex; google)
@dzboston33,
Hi!
What do yo mean by "evergreen topics?" Pardon my ignorance.
No apologies needed! When I say evergreen topics I mean stories or ideas that are always of interest to the readers. Basically, no matter when it is the topic is relevant for long periods of time.
@dzboston33,
Gotcha! Thank you.
Here is the link to the proposed hardfork changes.
https://steemit.com/steemit/@steemitblog/steemit-com-ui-release-0-1-170111
If it goes through, instead of getting paid once after 24 hours and then once after 30 days, there will only be one payout after 7 days. Unfortunately the payouts cannot be indefinite according to @dantheman, but there may be other ways to monetise your blog later. I think the 7 day change will make a big difference to how people vote. At least I hope it will.
@beanz,
I am having trouble with monetizing your blogs in other ways, later, when the those who upvote your blog posts are not paid anything after that. What is the incentive for them to read your blog posts if they are not going to benefit from it?
What other ways are there to monetizing one's blog? What else do you have in mind @beanz?
That is why I feel that this place should be a community first. This way it would incentivize people to read older posts if the rewards were indefinite. People are still getting royalties for books they've publish eons ago.
I only feel this because to read someone's post is monetarily beneficial. Those who care for learning, and who don't care about the monetary benefits will not care if they get rewarded for reading something old, and will still upvote. These are rare people.
The platform here is set of on profiting from posting and from reading what is posted. If we could change the calculus on the incentive mechanisms, I feel it would change a lot.
Ideally people would read the content because the content is valuable. I suspect after the initial payout from the first 7 days bloggers will have to monetise their content the same way all bloggers do.
source
I kind of see the initial payout as a reimbursment fund, not royalties. The blockchain only pays once for whatever the community valued it at in the first week. You could be right about changing the incentives a little. You could always give a writer a tip if the post is too old to upvote.
@beanz,
I see what you mean. Thank you for sharing that mind map.
Yes, if you want more out of your blogs you would have to promote them. I now have to wrap my head around this mind map you shared.