Stop being stingy with your upvotes. Hard Fork sure is creating funny reactions.

in #steemit7 years ago

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There is a lot of talk going on changes in steem power after the hard fork. What I keep seeing is people be so conservative with their upvotes (not all, some are very generous). I just want to say even if the power is diminishing after several upvotes don't be stingy, in a long run it beneficial for all. So what your upvote power is less after few upvotes, keep upvoting as you have been doing previously, or face the consequences of game theory. I thought my Public Goods Game post was relevant to this phenomenon. So, I am reposting its content again, I hope it will be entertaining and beneficial.
The following thought experiment offers an interesting example of phenomenon of the tragedy of the commons. Imagine that I offer you and three other people $10 each, which is yours to keep. But I also give you an opportunity to make more money. You can put as much of your $10 as you want the "group pot." Once all the players have privately decided how much of their money to put in the group pot, all the money doubles and then split evenly among the four participants, regardless of how much money each individual contributed. How much of your $10 would you put into the group pot? If all four of you put in $10, the group pot would double from $40 to $80, be divided four ways, and each of you would take away a nice $20.

So let's say you put in your $10, thinking that the other players will do the same. Once the pot is divided, however, you only get $15 back, not $20. What happened? It turns out that one of the players - let's call him Bernie" - decided to cheat. At the beginning of the game, Bernie realized that he would make the most money if he withheld his $10 while everyone else contributed to the cental pot. So Bernie kept his $10 while the other three players placed their $10 in the cental pot, making the total $30. This doubled for a total of $60, subsequently split four ways (remember, Bernie gets the proceeds of the group pot, whether or not he contributes), and each of the three contributors get $15. Bernie, meanwhile, makes out with $25 (his original $10, plus $15 from the split), more than any other players.

Now, let's say you get a chance to play the same game again with the same players (I give you all new $10 bills). How would you play this time? You don't want to be too trusting because you know that Bernie might defect again. So you only put in $4. It turns out that other three players feel the same way and make the sane decision, making the total in the group's pot $12 (Bernie again does not put in ant money). The pot doubles to $24, which is split evenly among four people. Each of the three contributing platers gets $6 (in addition to the $6 they kept for themselves), while Bernie winds up with $16 in total.

Now, your trust has been eroded. You play a few more games, but yoy don't put in any of your money. Each time you end up with the $10 you started with. You don't lose anything, but since you don't trust others to behave in a cooperative way (and neither do the other players), you don't gain anything either. In contrast, if you and the others had acted cooperatively, each of you would have wound up with as much as $20 per game.

Viewed this way, the Public Goods Game illustrates how we, as society, share the public good at trust. When we all cooperate, trust is high and total value to society is maximal. But distrust is infectious. When we see people defect by lying in their advertisements, proposing scams, etc., we start acting similarly; trust deteriorates, and everybody loses, including the individuals who initially gained from their selfish acts.

These paragraphs were from Dan Ariely's "Predictable Irrational".

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The problem in this game is Bernie. It will not help to be generous if majority of people don't behave that way. So you come to a question, does it make sense to give away your money upvoating others, if they don't do same to you. It s like a question what was first egg or chicken. IMO a society will never be mature enough to understand the multiplication of benefit. And so all great ideas finish as utopia. Example for that is the collapse of socialism as a system. Capitalism survived only because it is based on greed for profits, which perfectly corresponds to a human nature.

I think it is up to the leaders in the community, if they lead the way others will follow. Moreover those who show generousity and bring value will grow in follower base and prosper in long run. As they prosper their followers will prosper too. Those who take Bernie style play, will face abandonment and fail (are we gonna see mute used a lot?). Socialism didn't collapse, communism did. As matter of fact socialism is implemented in most if not all of the western world, just in different levels. I think calitalism and socialism can play together just fine, both have benefits for communities and societies. At this point I think steemit community should be more focused in attracting more people increasing user base, that will ensure success for all.

I partly agree. The situation that you are describing in the first part is likely to happen, but the most important role will have the strongest steemians, people with a lot of money, people with own interests and people who can turn crowd to work for them. Not saying that this will happen here, but almost every human project which started as a good idea ended because of the greed of human nature. The elites are created one or another way and it is about a matter of time when those elites start exploiting the crowd for own interests. Again, hope it wont happen here.

Socialism as a social-economical system is more or less dead. Socialism as a system, didn't have a free market, everything was planed. Monopoly companies owned by governments or their elites, limited economic initiative and depreciated property are characteristic components of socialism. Capitalism on the other hand, everything is private, the only purpose is to make profit and the market is free, not planed . What we have in EU or Canada and similar countries is 100% capitalism (open market, property, free economic initiative...) but is regulated in some areas IE Health care, educational system, pension system ...ETC with some degree of solidarity.

Hi, thanks for the article. I'm new to Steemit, and just wondering, what is the benefit of a powerful vote? Does it mean when you upvote someone its worth more money? Where can see your upvote power?

Sorry if these are basic questions

It is based on your steem power. more steem power you have higger tge value and strength of your vote.

Okay thanks. And how does your steem power go up? Mine says (49) is that good/bad?

earning with your blog and curation or buying steem and steeming up. it is not about good or bad. upvote your comments see how much you get. Also check https://steemd.com/@birdistgeword for details

Great thanks for the advice. I've followed you

nicely illustrated... now let's let the upvotes flow!

I have been upvoting all day, my power went from 8 cents to 1. lol

Congratulations! This post has been upvoted from the communal account, @minnowsupport, by deserttree from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, and someguy123. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you like what we're doing please upvote this comment so we can continue to build the community account that's supporting all members.

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