You are viewing a single comment's thread from:
RE: Whales upvoting chosen accounts crap for the rewards is one thing, attacking the rewards of a genuinely productive account is utter madness
I'm in favor of the new curve and eliminating curation rewards. I am not in favor of full linearity.
Consistency allows the platform to adapt, inconsistency leaves everyone uncertain and uncertainty what people fear the most.
I agree, mostly. But does this not also apply to the investor argument as well? When investors buy into STEEM with the understanding that they will have the opportunity to earn a certain percentage on their investment by actively engaging on the platform, then that percentage is later reduced...then reduced again...isn't that a problem as well?
There is a lot of uncertainty about what the next changes might be, because of the fact that previous changes have left those buying in high and dry. You say that you want to eliminate curation rewards. What then would be the point of actually investing into this currency and using that stake to allocate the rewards pool based on the algorithms? What should the casual reader invest in if they have no incentive to vote on content? Why would anyone choose to invest and vote?
These are some of the things that investors look at when deciding whether or not to buy - not only buying the currency, but buying into the vision of STEEM/Steemit itself. They won't invest if there is an actual likelihood that their returns can be pulled out from under them on a whim.
Returns comes from the increase in value not increase in the number of steem .
Removing bots and the bad voting incentives would make the platform instantly more valuable, businesses will be more interested to integrate steem and the trending page would look a lot better quality wise.
If curation rewards are removed , whales would be a lot more likely to share their voting power for the good of the platform and they will also spread their upvote a lot more which will increase retention.
Curation rewards is the reason of this greedy mentality that is killing steemit right now and I for one am glad to hear that dan want to remove them.
Aw! I knew Dan was in favor of eliminating curation reward for a long time now but I hadn't realized all the implications. This one in particular that you just mentioned.
There might be others reasons and I would be interested in reading about them. I think this reason is enough for me to actively ask people to begin to consider eliminating curation rewards.
perhaps the dollar value of the steem at the time the it was acquired should be factored into vote weight, so someone who got steem when it was 10 cents would have less vote weight than someone who got steem worth $1 per steem
I'm not sure that sounds right. We can't taint coins such that their properties are different from one unit to another. Currency needs to be fungible for a rational valuation to be made.