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RE: @snowflake's really interesting proposal - Turn whales into moderators and give dolphins all the voting power (TLDR Version)
It is a complicated question, but it would likely give more authors medium sized rewards instead of as many giant ones, and lots of tiny ones.
Great! ~Let's have it! The better authors will win out. The dross will have to sharpen up their act. When do we get value alongside Reputation?
Right now reputation is not "consensus" based. What that means is it is not validated by the witnesses as part of block verification. So using it in its current form for any type of actual rewards is open to abuse.
There is some talk about making a consensus based reputation system, but is still just in 'discussion' phase.
Putting a value of vote next to a username would mean a lot more anyway! Get rid of the reputation score and put in the vote value - then it is all clear, surely?
Maybe to avert the embarassment of the whales, just give a rep score until a username's vote is worth $0.01. I know why you are reluctant to answer this but it is what transparency means. Don't cave in. The exponential curve needs to be understood by people other than just me!
It isn't that simple. The amount that your vote adds to the total is not a fixed amount. It changes as other voters vote on the post as well, and it also changes as other posts on the platform get upvoted/downvoted throughout the day.
Then display yesterday's vote value. I am aware that vote value changes as I watch the value of any decent payout dwindle as the day goes on. The reputation score clearly is not a working entity. Maybe a range value - $0.01-0.0125 - or give the vote value based upon the previous 7 days on steemit - yes, there will be funnies if someone has been away - then you use a median.
Transparency is being averted if there is no explanation. At present, there is no explanation on a "transparency" promise. You know that I know!
The current reputation system is a temporary thing. It was not intended to be the final implementation.
It is more than just dwindling. How much your vote adds is actually a very complicated calculation, and it is dependent on a lot of things at the time the vote is cast, as well as what happens to the post for the remaining time until it closes. There isn't a fixed amount for how much it is worth.
This site should show you what you are interested in:
https://steemstats.com/