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RE: Steemit has problems. I have The Grand Solution.
Ya, but the whole point the way I understand them anyway, about these curation teams, is they are place as a free service to enhance quality content rewards.
Yeah and that still goes on, nothing changes in that regard, just some people get a slightly higher percentage vote. They would get a vote regardless for free (assuming enough teams to cover most ground)
Doesn't that then fall in the realm of vote trading and 'circle-jerking'?
This system means people have to A) Dedicate time and effort into their work B ) Pay for slightly more recognition. It's not exactly upvoting a small group back and forth regardless of content and quality (which is what circle jerking is)
If the concern is that they can somehow abuse this by, say, being friends with the curation leader, then they can just do what OCD already does and limits premium services to one or two times per month.
This is why it's so elegant (in my opinion), because curation teams have already figured out the most elegant ways to curate, all that's needed is less people voting themselves indiscriminately.
'Slightly higher', as in 100% higher.
If whales don't get the higher votes, because they don't invest the effort at creating excellent posts - which is the bulk of the issue with trending now - then they won't fund the curation anymore.
This will either kill the initiative, if the curators are idealists, or compel them to disregard the quality assurance, and upvote the whale posts anyway, to save the initiative.
The latter scenario is more likely, as the curators will be forced to choose between a return to the present (and the disappearance of the rewards that they reap from their work), and compromise.
It'll turn into vote-buying by whales, with, again, crumbs that fall from the table being fought over by starving minnows.
I prefer a free for all of content creation, and whales dependent on the success of the platform to realize capital gains. Capital gains have worked to incentivize investors since before writing existed.
They'll work for Steemit, just as well as they worked for the builders of Gobekli Tepe.
Consider that if Steem reaches but 1% of the present value of BTC, investing in Steem now will provide better than 80 fold return. That's 80 * 100%, not 80% - 8,000% return.
To reach 1% of the value of a crypto that Steem has far better scalability, 100% lower transaction fees ($0), and far faster transaction times.
Really, the only thing preventing whales from attaining this return on Steem investments is the greed driving the oligarchical stripping of rewards from content creators, and repressing Steemit's growth.
New vote-buying schemes isn't the fix.
Free market capitalism, and competition between content creators - as was intended from the outset, as outlined in the white paper - is.
Edit: math broke. Fixed it.
I think you misunderstand somewhat. My idea is not about whales creating content - they don't create in general, they just sit back and curate.
I mean they delegate their SP to curation teams who then go out and curate the little people, thus spreading the wealth. The whales just sit back and reap the rewards which is all they want to do anyway, which is why I proposed this in the first place.
Speaking of capital gains and value increasing to the moon is not much more than pipe dreams - there's no evidence to suggest steem will ever sustain above a dollar, and although it might, it's been 'on the verge' according to everybody the entire 7 months I've been here. It's a pipe dream.
My idea is obviously not the best solution, but I believe it's the most realistic one because it's so simple and easy to implement. Everybody else's suggestions are either wishful thinking or complete overhauls of the system which is again wishful thinking because not much of anything gets done on this platform in any 6 month period.
At least for now, removing vote buying abuse and preventing reward pool rape is the only realistic way to go
Well, I pointed out the reasons I feel most repress appreciation in the price of Steem.
Steem has been above $4 before, and has better cryptocurrency chops than BTC. Those aren't guarantees, but they are evidence.
So, as I understood your proposal to generate income from selling 'potential' premium upgoats to whales, and now you agree that whales aren't going to be posting for upgoats, what is this new, unspecified mechanism that will compensate whales for their delegations to the curation teams?
The most likely returns this could generate for whales would be some percentage of the curation rewards.
That's unlikely to remain the case, for long. After the Sybil attack purchases the witnesses, the new centralized PTB's will likely be very active changing code.
I hope you're right about the changes. I'm not really down with the details in that regard to be honest, just working on my own experience and what witnesses have told me privately etc.
$4 lasted a few days, im not sure if thats evidence or just somebody pumping and dumping. Right now it's kinda crazy though, sbd hit 2 dollars =/
Anywho I explained int he other comment about how whales would get a return so I'll cut this one off to prevent going back and forth between comments!