You are viewing a single comment's thread from:
RE: Do larger payouts help or hinder the rate of adoption? A/B testing can answer this.
I would rather see 500 100$ posts then 10 5000$ posts thats for sure.
I would rather see 500 100$ posts then 10 5000$ posts thats for sure.
It's not about what you'd rather see personally. It's about analysis of the data to determine positive or negative effects on adoption. It could be that removing the $ amount from public attention is the best way to promote adoption. In that case it would be a UI problem and they could just keep the amounts hidden from view if it's having an unintended negative effect.
On the other hand my hypothesis is that it is having a positive effect. If the data teases that out then it should not only remain in the interface but should be displayed in a way to bring attention to it.
It is no good if people who are signing up don't stay because all the earnings go to a select few. We've also seen frustration with the small guy being unable to make any money spill into the press with "ponzi" and other accusations spreading in the crypto world - that is a bad development and is directly fueled by the high payouts.
There is a way for this platform to work better - but that requires users to be a bit smarter about what they vote for. I wrote an article about how to do it: https://steemit.com/steemit/@teatree/steemit-is-all-about-game-theory
I'm a rational person. Do the studies and let's get the numbers. Appealing to jealousy is all I can see from people saying that participants will leave in droves and it doesn't seem to be based on anything we know from psychology. According to psychology, intermittent reinforcement with variable ratio schedule is the most sticky of all. Facebook users can't leave in droves and don't abandon the platform because they don't get enough likes. They do leave when they find another platform which is more sticky but from the data I saw, Steemit is already nearly as sticky as Reddit.
Anyway, we need more data driven decisions rather than to just assume.