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RE: Understanding Steem's Economic Flaw, Its Effects on the Network, and How to Fix It.

in #steem6 years ago (edited)

I feel we've fallen into the trap of narcissism of small differences.

I did concede that in practice this is less likely later in my comment which you covered in your first two paragraphs above. Whatever differences of opinion we have regarding downvotes are relatively academic and negligible in practice. I support X% free downvotes.

The conversation in chat with the group was, perhaps unsurprisingly, not too constructive. Right now we have an economic system that rewards content indifferent behavior 4x more than voting behavior that's beneficial for the platform. Maybe adopting 2/3 of our measures is sufficient to turn this around if superlinear is out of the question.

Ideally I think it's better to have a system that still leaves enough to incentivize authors and I think something similar to our proposal can get us there. Failing that, 100% curation which you proposed or no inflation rewards other than paying witnesses (they're similar in some ways, obviously not identical) might be entertained. This basically will be like reddit, where there's no rewards so no incentive to act dishonestly, but with a crypto wallet attached. I think this isn't great but it could work.

I'm reluctant to try this path without at least a serous attempt at making this place work as it was initially intended. I don't consider hyperinflation, n^2, 25% curation, linear very serious attempts. But of course, it's not up to me, thanks for your time.

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narcissism of small differences

I'm not sure that discussing small differences is narcissism, but I agree with the core message there. Clearly we agree on most of this voting incentives issue and have agreed on most of it since the first discussion of it (several months ago). It is the people who don't agree with it to the same extent or at all who are getting in the way of something being done, not you or me.

hyperinflation, n^2, 25% curation, linear very serious attempts.

BTW, I'm not sure if you are aware but the original policy mix was hyperinflation, n^2, 50% curation. The switch from 50% to 25% was very foolish and I disagreed with it at the time. The 3-1 ratio to overcome is terrible regardless of the curve.

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