Steemit improvement proposal ! Better distribution of rewards ! Limiting the post rewards of whales...

in #steemit3 years ago

Hi everyone , i have a proposal ..
steemit-share.png

Lately i am a bit boggled by what it seems , a very unfair distribution of wealth .

I also notice hat a lot of people having problems with this issue , and this had me thinking of a way to improve this for steemit , and making this a bigger , better , and more fair community. A community i really like , but certainly has some issues to work out.

I am not fully aware of how everything works , so excuse me if i make some bad assumptions and please correct me on it ! This is just my personal experience in my time here on steemit. And i am not so techy as some of the people here are.

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Whales.

I think it's clear for everyone , what the influence of whales is in this community . They have a lot of voting power , and have a great influence on the rewards of your posts. And although some whales are following many people . I rarely see them upvote content , that doesn't come from other whales. Which to me feels a bit like an elitist inner circle. I understand they want to protect their investment , but is it really fair for a small group to decide what good content is ? I don't agree on this one . The rewarding system now is more based on WHO follows you instead of your content.

A lot of comments i got is that whales are here to build this community up etc. But then again , they only seem to upvote other whales. My proposal to this you will read further up in this post.

Minnows .

I want to show the role of minnows in one single circle chart .
minnows.png

Where are the green minnows at ? That's right , we are nowhere. Our role is minor , and we seem to have no influence or what so ever.

In my opinion it will be the minnows who will build up this community. Cause they will be the one , adding the most content to this community. And thus creating the most value for this , once the distribution of rewards is straightened out .

There is no way to compete with the minnows for the whales once this goes mainstream. Looking at the number of facebook users , the role of the whales in number , would be very small. So i think it's a smart move for steemit , to make to minnows have more power. Again , you will read my possible solution for this.

The system how it works now , feels like being part of the fortune 500 , for the whales that is.

Since i am pretty sure most people joined the world of crypto currency , is because they are sick and tired of elitist banksters , and want to be outside the banking system , this is very damaging for the growth of steemit. Growth which all the whales , seem to support.

This has to be changed.

Working out a non fraudulent system.

Since i read comments , approving this system , to keep fraudulent fake accounts out of sight , which i totally agree on.
I have a small pre proposal , to fight this .

Since i am an online gamer , a community which has a big burden of fighting cheaters , i know the following thing is possible.

Which is to connect your account to your hardware.

In the online gaming world they are able to give someone a hardware ban , which makes people unable to use their account with their current hardware configuration. In this case the private key you use , will be connected to your hardware , this in combination with ip , and maybe some other things that are possible combined , should make it very hard to make fake accounts. Something which i fully support , since i've spotted some here and there already .

So how do we keep whales still in control , but distribute the rewards more equal ?

I have a proposal for this .

Since the whales are here to build and strengthen this community , (as they say) i have my most important proposal .

What if we limit the rewards of whales , to like 10 - 20 dollar , and distribute the rest over to ACTIVE single accounts. Per post , this will be very minor , but in the long run this could this build and make the community stronger , and there will be rewards due to content , and not due to who follows you. Since i have more faith in people , voting with their heart instead of their wallet.

Top 10 trending posts.

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All posts have reputation over or near 70 or + which i consider to be whales ,

trending 2.png

This resolution , will give the whales time to breath while still making good money each day , depending on their own posting activity , and move the power of the whales more towards the minnows , which are really the ones to build this community. It will add more value on content , then on who follows you , and will be more rewarding for your efforts .

It hurts a bit to put so much effort in a post , and not to be rewarded , cause you weren't lucky enough a whale didn't see or like your post.

This system is wrong , and will stagnate growth of this community .

A community i love , cause it gives so much great opportunities for peole in poorer countries , who possible add amaing content.

I also want to give a shoutout to @fyrstikken , the only whale constantly upvoting people and not caring about his voting power , you are a great person !

@demotruk
@ned
@fyrstikken
@good-karma
@neoxian
@dollarvigilante

I am sure this solution will bring a number of problems , like every change does!

But i also have faith , that we , as a community , can work our way out of it putting our heads together.

Me and me wifey @fernwehninja love steemit , and we will move mountains to improve this community !

This has huge potential , and i will do everything i can to improve this .

This post cost me 3 hours to make , so i will take a rest now hehe . But i love steemit , so you do what you gotta do!

I hope you all have a good day and keep steeming ! steemit logo.png

Sort:  

Step 1 - Buy Bitcoin
Step 2 - Buy Steem
Step 3 - Power Up

a blog shouldn't be judged on it's investments

But this is a money machine

for some yes , that is my problem with it . It's un unfair distribution of rewards , it's plain and obvious , only whales and dolphins don't want to see

Well there are quite a few whales who are powering down. Steemit post earnings are down because the system is changing hands and as those who have earned much power down, others are powering up and becoming future dolphins and possibly even whales. Steemit is still tiny like so small, patience will be required moving forward and also innovation. You can make your own Steemit website with whatever API you can integrate. This is Web3.0 right here and its functional unlike many other cryptocurrencies with only promises.

it's not down , looking at the trending , and they first have to fix the rewarding system , before people will put money in this.

The combiance of Steemit , and ponzi scheme , ends up to much in googles search engine and youtube. They have to fix this .

If you happen to see the rewards way back June 2016, you can see the difference of rewards we have right now. There are posts that gain $10k, $15k, $20, and even $50k on a single post.

Currently, we could not see a $1k rewards anymore. It only means that steemit is improving and is improving so fast.

50 k wow , that is absurd
but i don't care to much about how high the rewards are , but how it is distributed , cause i am sure those posts were from whales as well.

I think you mean July , with the post rewards , and this has nothing to do with the system , but more with the value of steempower and steem dollars.It was a 4 dollar at that time , which is literally 10 times more then it is now , Multiply the current rewards x10 , and you are at he same level my friend.

Some whales are powering down. https://steemdown.com/

#1 steemit Rep 35.0 STEEM 3,284,636 SP 70,514,350 $17,714,299 <--

17 million is the price of jennifer lopez's house.

Not really a problem. What you need to realize is - how do you view Steemit? Is it a money machine for you or a place to discuss whatever you want without censorship? Either one leads down completely different roads and how you view your content here.

For me, the money is nice but not the end all be all for my reason to be here writing. I personally enjoy the conversation with people on many different topics. I don't have to worry about the conversation becoming a "you voted for Trump" B.S. argument when it started with a simple comment on something completely unrelated.

For me it's a bit of both really , not a money machine , but just an possible extra income , and a place to find , same minded people . I like that is very different then facebook , with all the stupid tagging and stuff going on . This is better then facebook and instagram wise .

I have to agree. I have given up on Facebook, other than messenger and some groups I am in (ebay resellers and yardsales groups). The rest of Facebook can burn for all I care.

Twitter was easier to give up, I never engaged on it more than as a business tool anyhow. Instagram, Tumblr, etc. Never used them, and don't care to. lol

My time on facebook is pretty much limited to chatting with my wife who lives abroad . For the rest i spend very little time reading facebook posts anymore. If steemit works out certain issues , this is how blogging should be. Money to the creators of content , and that is it !

actually they do see , looking at the HF 's

Hello @cannabissativa
"All posts have reputation over or near 70 or + which i consider to be whales"
This is totally wrong, reputation have nothing to do with it. Steem Power has everything to do with it.

I have much Steem Power because i bought STEEM for more than 100,000.00 US Dollar and did Power Up. That means steemers that wanted Fiat money got it from me. If you kill the Whales you kill the value of STEEM. Nobody want to buy your STEEM if they do not get Steem Power.

When I vote for you, you get 75% and I get 25% What is wrong with that?

Have a good laugh


Have a nice day

So i am right , reputation and voting power all have to do with the amount you invested. This is not right on a blog oriented website. It should be the content , traffic and interaction it creates ! Spreading your earnings to minnows , could possible solve this , and make it a selfsustaining community , independent of whales. And you still have the steem power to invest in.

But thank you for your contribution , it will help people for sure

No @cannabissativa - Reputation has NOTHING to do with rewards - it is only the amount of SP has that votes. Steemit is part of an ecosystem where blogging is a part of only.

It has only the amount of sp that has votes?

Reputation has nothing to do with the SP indeed - i was confused on all of that when i started too but we have 3 groups here:

1 - Creator
2 - Engager
3 - Investor

If there would be no Investors (mainly Whales) - there would be no rewards for anyone - summarised in a nutshell. Some are pure investors and never post any content, that is part of the system.

They should implement this in the sign up , so different algorithms can be used for each category.

Blogger should be valued on content , investors on money invested , and engager , well , let figure that one out .

I do not get your problem to be honest - it is an ecosystem like a family, all belong together - define a new algorithm that makes all groups happy is your new project then :-)!

haha i wish , i am not so tech related i can create that , but i do have the management skills to put together a great team. ANd yes i was already thinking that way !

I am not thinking i have a problem , i am thinking i have a solution for problems steemit has !

So far , the only people who said this system is ok , are the people making good money . Sorry that i don't take that as a reference :)

Hello again @cannabissativa

Once more: reputation has nothing to do with Whales or the reward system. Reputation is what the word say it is REPUTATION. If you blog much your reputation gets better and better.

What is reputation for?

The reputation has two roles:
It is an indicator that shows how “trusted or appreciated by the community” you are.
It is a tool that prevent user with low reputation to harm other users.

How it works

Reputation points are calculated using the mathematical function Log base 10.
As you can see, is it very easy to raise your reputation at the beginning, but the higher your reputation, the harder it is to increase it. In fact, each time you want to increase your reputation of 1 point, it is ten times harder!
The main effect is that a reputation of 60 is 10 times stronger than the reputation of 59.
It is the same for a negative reputation. A reputation of -8 is 10 times weaker than the reputation of -7.
People with a low reputation cannot harm the reputation of someone with a strong reputation.
This explains why creating a bot that systematically flags other posts is useless, unless the bot has a high reputation, something that will be hard to achieve for a “flag bot”. In no time, the bot’s reputation will be ruined and it will become harmless.

The lower limit of reputation is -8

There is no upper limit to reputation.

You see? Easy! That is all about reputation.

Thank you for your information , this is why i want , to get a discussion going , only for this as well. How do you explain the people with high reputation , but low activity ? Curious to hear . Cause you provide very useful answers ! Thank you

Hello again and again @cannabissativa

There are no people with high reputation and low activity. They do not exist in Steemit.
We all need to blog or comment and get votes if we want a high reputation.

Do you call 1 post , which includes comments , in 1,5 days active ? Curious to see what you definition of active is.

What are you talking about?
You want to change the rules you do not care to read?
I am tired of your hidden agenda!
You will never get a vote or comment from me again.

Everybody else in your post will.

Check out my Vote Cannon in your post!

I love this song about Steemit

I mean that some don't post or comment so much , sorry if i offended you somehow , that wasn't my intention. Just check the stats on steemwhales , and i think you will know what i mean . How do you mean i am not reading it ?

I see you invested a lot of money and getting nervous . I would do to if i invested that amount of money . Sorry for that ! Nothing will change for the whales , to what happend before the change. Just more voting power for minnows in the long run for being active , and sustaining this community ! It will grow your investment significantly in the long run , IF you are an actige poster , OR the value of steem power and steem dollar increases.

But spreading the rewards , more people get more voting power , more steem power and will gradually increase the rewards FOR EVERYONE . That will attract users to steemit. CVause let;'s face it , we are practically all here for the money !

based on true loving of content , and not which follower invested most !

At youtube , you get payed by views , which is perfectly normal , and very democratic .
No mattter who follows you . Sadly to say , but that very old system is better then this really . Looking at inequality it is kinda hard to deal with in 2017

Even on youtube it is not very democratic. It is about from where you are and such. 1000 views is nothing in africa, but can mean more than 20$ in ad revenue in Japan. But it also means that big firms in Japan put more money to ads.

You are wrong about Youtube. The value of the ads you earn from is greatly influenced by factors such as geographic location of the viewer, their involvement with Google (are they a Plus member, use Google every day, etc - do they have a more filled in profile according to Google) and if they click an ad showing on your video, or not (such as how long before they click "skip" or the X to close the ad if a banner).

All of that is factored into how much the content creator receives (percentage of the pay). I have several Youtube channels and they all receive varying rates per 1,000 views. One is earning less than $0.10 per thousand views while another is earning closer to $0.90 per thousand views. They each attract a different type of viewer, different ads from companies wanting to reach those audiences and the content is completely different between my channels (otherwise why have more than one?).

The same can be said of Steemit. It greatly depends on who sees your article, upvotes it, downvotes it, comments on it, resteems it, etc. If you can get a popular person to resteem your article then it will be seen by other people that may upvote it, resteem it, or comment. That all ads up to more money for the content creator and those that curated it.

Sure, it would be great to get several whales to upvote a single article - at least for the content creator and curators that caught it early enough. That doesn't happen all that much. Is that signaling things are wrong or offset here? Not really. It just shows the whales are careful about how they use their accounts.

Look at it like you would on Facebook and Twitter, or other social media sites. The popular people can simply post a crappy meme and get thousands of likes, thumbs ups, and comments. Another person not as popular could post the cure for cancer and get maybe a like or two and a comment here or there. Does that make Facebook and Twitter "wrong"? No, it just shows that people that value their accounts there have done something to earn that position - here on Steemit, a lot of whales are probably early adopters that invested their earnings early on instead of cashing out.

How much do you, as a regular user of Steemit, cash out instead of investing back in through powering up your account? I cash out only Steem Backed Dollars because the value is currently stupidly off in favor of such action. I should put that money, at least the bonus back in as Steem and power up but I keep worrying about personal issues that need money to fix. I am not complaining that my account is being ignored by anyone or about how I think it is unfair that those that do power up are getting more power than me - they are earning it. I can do the same thing. I choose not to for various reasons - not yet. I should but don't. That is my fault. Not the whales.

I never cash out , no way ! I believe in this project to much for that !

And i also know it will stagnate the growth of my own blogging. I don't need to cash out , but i do understand people from more poor countries do. Me and my wifey @fernwehninja , are here for the long run !

But i am also , not willing to invest to much yet , with this current rewards system. Once this is better , i don't expect it to be fixed soon. I think i will

So it's not about posting your own things , but more to create content , triggering whales to upvote you ? Or advertisers for that matter.

I am just pointing out the details about the details about the misunderstanding of Youtube and how content creators are paid. An advertising whale watching a video, clicking on the ads that pop up, and doing everything right by the advertiser and Google's own metrics will obviously net you more revenue than just some guy that discovered the Internet 15 minutes ago and stumbled onto a video on Youtube.

Same can be said of Steemit. Obviously, those that put more time and money into their accounts will hold more power. Just like someone that takes the time to fill out their digital profile with Google will be worth more when viewing Youtube videos. Filling out the digital profile includes simple things like actually searching for legitimate information using Google, using Google Plus, living in the Google/Google Play ecosystem with Android, etc.

I am just saying that your argument against whales and the power they hold is flawed at best. Want more power? Do more, invest more (time or money or both), curate more articles/comments that compel Steemit to the vision you have in mind. Who knows, more people may join in and help.

Reputation and how much you invest have nothing to do with each other. I have a 71 rep and invested $0. I have seen whales with 1,000,000 steem power with a 45 rep. Steem power is what makes a whale, not rep. Steem power is earned by investing or,, like i did it, through creating content and engaging with the community. Either way, it is earned and is not free. You have to work for it.

Oh i didn't say cut out the whales , i said limit their rewards and refund the rest in the network

So, penalize the whales for investing their time and money (either as an early adopter or investor later)? That would send bad signals to anyone else interested in putting money into Steemit, or their time by blogging and powering up.

Not penalize , they are investors , so they should invest in the network. By making the network

But you are wanting to cut back benefits they get from investing in the network (voting power and vote value for instance). That is penalizing them.

No it's not , this will significantly grow their wealth , not relying on whales themself , cause they have many followers , who will get more voting power !

I am sorry, I just don't see how withholding vote power and vote value will improve not only whales investing here (old and new) but keep those whales already here, around and not cashing out and leaving to invest elsewhere.

They already have the voting power , so there should not be any change in that , it is time now to grow and move on . They made their money , and it will only grow from now in , when using the right marketing strategy , and get inbetween mainstream !

Congratulations @cannabissativa!
Your post was mentioned in my hit parade in the following category:

  • Comments - Ranked 7 with 61 comments

Up for this ..really love your proposal!!

Wow arjane, that is a really beautiful post, I just started following you, you have good content :) Keep it coming!

Thank you Arjane , i think this can significantly change and add value to this community

I like the conversation that this post generate, thank you everyone!

This is a very good inniciative, I know it still has to go through the community´s approval but I´m behind it. Not because I don´t think the whales shouldn´t make that much moeny but because I´ve seen a lot of content that is amazing and they end up having 16 upvotes and 0.30 SD.

I agree @anomadsoul , and i think it should be the minnows deciding what good content is , and not a few , mostly tech and blockchain related people . As it is now , it is not smart to post the content you like , but more rewarding to try to trigger the interest of whales. It shouldn't be like that in my opinion.

Exactly! If you want votes you shouldn´t post what you love but what you think the whales would like, that i dont like, thats why i keep posting what i like but sometimes it doesnt get the attention i feel it should.