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RE: To my witness supporters: Lets vote on hardfork 17
I tend to be in favor of it and at this point plan on updating to HF17 this weekend.
I tend to be in favor of it and at this point plan on updating to HF17 this weekend.
HF17 Commentary - you might re-think, as everyone else who has actually read it has done.
Thank you. I have read it and also read your more in depth analysis. I agree with some of your points. I think curation rewards to the comments might be abused but that rest to see.
I think you might have some numbers wrong too. I'm not sure.
As I understand it, 38% of the reward fund will go to the comments. Then 62% of the reward fund will go to the author's post and a maximum of 25% of those % will go to the curators. That's how I understand it. Also there is multiple ways to abuse the system. This is stated in the whitepaper. The idea is that abusing the system for oneself is bad for everyone else and thus everyone will fight the abuse so that overall Steem gain in value and the abusers on average won't benefit from their behavior.
I tend to be against all curation rewards and I'm in the top curators...
You are right about the numbers @abit corrected me on that - The github post was very poorly worded and I got it wrong.
Therefore, this is my understanding:
The distribution % is slightly different. It does not however, affect the capability of whales to hijack the rewards pool. There will be bot posts, bot comments and bot voting on an unprecedented scale.
All I have here is a tiny influence on the way in which votes are counted and valued.
I do not have an answer to the invitation to rort the system.
You might be right about the possibility of the comment reward pool being "hijacked". This kind of behavior would make the price of Steem go down. Right now what we are seeing from most whales is the intention of doing what they think is good for the platform and their stake overall. Most whales are now forgoing their curation reward because they have come to the conclusion it might be best for the platform and in the end their wallet.
Now I'm not saying the abuse of the comment reward pool shouldn't be a concern. It is a real concern and it's a good thing you're pointing it out.
Why has steem jumped?