You are viewing a single comment's thread from:

RE: A healthy community discussion: Abuse via tokenized proxy?

in #steem6 years ago

The matter cannot be resolved independently of the vector, financial manipulation of rewards via stake, as we see demonstrated via prior tweaks. Simply cutting to the chase and eliminating that vector is the necessary action. Absent incentive to manipulate rewards stake will undertake different strategies, and all the negative consequences of manipulation will end. While whole new problems will eventuate, successfully solving problematic consequences of financial manipulation will provide a far more functional social engagement mechanism, which is the foundation for Steem value.

Tokens dependent on their use to facilitate financial manipulation are part of that vector, and even if we can eliminate them, we're just playing whack a mole as long as financial incentive exists to manipulate rewards mechanisms. Bid bots, circle jerks, all such mechanisms depend on a common vector and share a common solution: eliminating incentive nominal to profitable manipulation. To this end I have proposed the Huey Long algorithm.

Thanks!

Sort:  

While whole new problems will eventuate, successfully solving problematic consequences of financial manipulation will provide a far more functional social engagement mechanism, which is the foundation for Steem value.

It isn't so easy to do but I think that the only way it can be achieved is when there is a high degree of decentralization and a high degree of ownership as it brings responsibility and less direct reliance.

Coin Marketplace

STEEM 0.09
TRX 0.31
JST 0.031
BTC 106776.49
ETH 3880.92
USDT 1.00
SBD 0.61