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RE: Whale’s dilemma
Honest question:
If we get rid off curation rewards what would be the incentive to buy steem?
Honest question:
If we get rid off curation rewards what would be the incentive to buy steem?
my guess is that you can still earn by posting and commenting. And that your weight in Steem Power would still proportionally move posts and comments higher. Am I wrong? Not sure but I hope that this is the case!
I wonder about that, too. For me this was a crucial element of the platform logic. If someone invests time in careful and responsible content curation then this should be incentivized. At least in a system in which posters get rewarded by exactly such curation efforts.
Speculative reasons: the guess that some may have made by now that the value of Steem coins/power/mist whatever the unit is called might grow just like Bitcoin and that investing a grand into Steem now regardless of any curation or posting rewards might return a nice 10 grand or another very profitable number. I think whether or not curation rewards become discarded, and whether or not interest even becomes discarded the mere fact that 10 Steem coins may become worth 10 BTC sometime in the future is a very integral part of providing incentive to ensure the Steem community grows healthy
If curation rewards are removed, surely large holders still have content visibility control as an incentive. Maybe this isn't such a bad thing and can be considered more of a balancing act. As dan said, the curation system may be fundamentally broken when large holders can game the system not for the benefit of the system but for private gain.
As for answers to your question, I think the incentive to buy steem still remains, except just one fractional aspect of the incentive would be gone. People will still buy it for the ability to make steem denominated interest at a rate higher than else where, they will also retain the content visibility voting power, whether or not this is important to them i don't know. And of course, the speculators will continue to speculate.