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RE: Making Steemit Better: A Proposal to Flatten the Rewards Curve
The entire rewards pool is awarded every day. So, there is no way, it reduces payouts across the board. It just might change who the winners are, or how much they win.
The curve gives voters with a large amount of steem power a disproportionate amount of voting power. When these users upvote content all content on the platform gets reduced. So it does effectively reduce payout across the board, except for a few lucky ones!
lol, I think you are describing what is happening now.