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RE: Steemit Referral Program and Incentives.
I've seen referal bonus attempts succeed and I've seen them fail. When they fail is usually when the draw is so great that a few sharks flooded the system with unqualified people who only hung on until the payout. It tends to build it's own pyramid scheme within the established marketing plan, because some few of the shark's recruits will be sharks themselves.
As long as that is prevented, referral programs that I have seen worked very well. Personally, I already have that incentive because as a newbie trying to earn with content rather than curation, every little vote counts. People I draw in will vote for me, and they also will improve the value of STEEM over time.
I think Craig has a great idea to make sure users can't game the system. Verified accounts is key. We could also set it up where users who refer others have to stay active on Steemit. If they don't they lose their referrals after a set amount of time. We all know their are affliliate marketers out there that will make a mess of things unless they are kept in check.
YES :)
I like Craig's idea for the method. I have a question though. Do you see the 10% coming off the referred member's payout, or being made of new minted STEEM? I think only the latter would work. The former would leave us with members who get paid less per post just because they were referred. So if it's the latter, do we increase the total amount of STEEM or is it had from a reduction of current levels of STEEM, a tax, as it were, on the whole system.
The best way is that when the referral program starts 10% of the rewards pool goes to pay referrals, how the devs technically implement it is up to them, but I am sure they are smart enough to come up with the proper code or mathematical formula to make it work
Like a general tax spread across the whole system then. Better than targeting one group or another. And yeah, it would have to be constantly readjusted or there could be incentive to keep referrals low so as to get more of the pie for less work.
Please see my separately posted comment, it includes a way to in part circumvent this possible issue.