Top Payouts in May
Lets take a closer at payouts in May.
The distribution of payouts has a very long tail which means many authors are getting decent payouts.
There are a few very large payouts. This pattern has been repeated over several months as can be seen in
How about spreading The Reward Pool further?
Capping payouts at $1000, would spread the reward pool even farther. Devs do fantastic work and make Steemit possible, capped posts may incentivise devs to provide more regular updates on their projects. It might also encourage other ways to fund projects such as donations from Steemians, etc. Lets think outside the box!
Where have the top 50 payouts in May gone to?
Life is so much better with a bit of colour.
Steemit is still in Beta
There are hundreds of new users each day on Steemit, and as this continues more and more non techie people will be attracted to Steemit. A natural first question from these people is "what are the top payouts?" A quick search finds some very techie posts, extremely profound and mind blowing stuff (for me) but maybe not if you have just heard about Crypto and Blockchain. It again is reasonable that development posts are top of the list as we are still in Beta, but this can be a real turn off for new users.
e.g. "chainBB.com - a blockchain forum platform for Steem"
What do you think?
- Should there be a cap on payouts?
- Should devs be rewarded out of the reward pool, or in some other way?
Thank you for reading this. I write on Steemit about Blockchain, Cryptocurrency, Travel and lots of random topics.
I have been very active on Steemit over the past month and a lot of the pay out questions new people ask are the same questions that came to my mind. "How come I invest all this time, writing what I feel is very good original content, and it get little to no votes and makes no money?" It is frustrating at first. I did, however, find some success. I kept writing original content and posted a story shortly after converting all my Steem to Steempower. The payout was my best to date. I am not sure if that plays a role on who upvotes your posts but I have noticed that when I powerup my next post gets more attention. I think whales on Steemit are interested in Steemians who are invested in the platform and not the "get rich quick" crowd. I'm a true believer in this platform and Steempower shows that you are committed to its long term growth and prosperity. Steem is a long play in my opinion so keep posting, keep sharing and you will reap the rewards in the long run.
Steem On!
Well said.
Well I don't think there should be a cap, as this community is free and whoever can try their best to achieve a higher goal. But I also hope new members are given an opportunity to shine themselves. I often visit the "new" section to see any interesting posts by new members and give a tiny support.
It's important to encourage new members, however we can.
Hardfork 19 will change this.
I take it your referring to the linear rewards curve rather than a cap on payouts? This will help wiht what I am describing and will operate effectively long term but a cap would achieve something slightly different and may be worth considering while we are in the growth phase.
https://steemit.com/steemit/@steemitblog/proposing-steem-equality-0-19-0-as-the-next-fork
A cap is problematic. You either have SP which you can use as you wish or someone owns your SP. If there is a cap on post and then I want to use my Steem, let's say I own 1% of the Steem then the cap is reached on a post then it means I can't use my SP to direct the money where I want it to go. That's a problem. It's a kind of socialism which is problematic at it's very core. I didn't thought so before reading Dan's view on those kind of matter.
By nonetheless, as you said I was referring to the linear rewards and this will effectively solve what you are seeing here as I understand it. We'll have to wait to see.
And I totally agree with you that it is a real problem. That's why I mention in one of my recent post that this new curve is one of the most exciting update I'm waiting for.
I'll have to check out Dans view on this. It sounds interesting. Thank you.
I don't think there should be cap on payout. Everybody should be rewarded at full potential payout.
Hi @mathworksheets, I see your point of view. Do you feel the same about the super large payouts over 1k?
Hi @eroche. Yes, as the payouts are decided by the voters then why not. I am an expert on the way the voting works but if the payout is because of genuine and independent votes then there should be no cap.
I really enjoyed this post mate as it has lots of good information. I am a new member myself and am enjoying the experience but there are a lot of things which concern me about the platform in its current guise.
I am not very knowledgeable about cryptoc-currency, blockchain or steemit itself so perhaps not the best to user to comment but from my limited experience I can see that there is a lot of frustration within the community regarding payouts. I myself have come across many posts with high payouts which are not of the highest quality by any stretch of the imagination as well as fantastic, thought provoking originality which has received very little recognition or reward. I realise that everything is relative and that perhaps my opinion of what is good and bad may be in the minority but I don't believe this to be the case.
I don't think it is yet the place that many would describe it as and believe it has a long way to go to get there.
The issue is that until this platform has a lot of scale, diverse content and a large volume of regular visitors and contributors, then things won't be stable. Until things are stable posting is going to be hit and miss for the majority. That list of top 100 posts has names that are very similar from month to month.
If your a new user today and you write the best article in the world, you probably won't get much for it because you have no followers. Unless you are very lucky when you post it may not be seen by many. Or it may not be seen by the people with the voting power.
Having said all that now is the time to participate, build you followers, build your writing skills and build some connections here on Steemit before the masses get here! One thing I have no doubt about is that this platform is going to have a great future.
Thank you for your kind reply @eroche.
As I said I am enjoying the experience and interaction with users, particularly in the comments sections, so I intend to hang around for a while and see how things progress with the hope that things level out a bit and everyone gets a fair crack at being successful here.
Thanks again. Hope you are having a great day!
I don't support a cap, but I have suggested 'payout recommendations' in the past. I think they would go a long way to improving the payout decision making process.
I liked that idea. It would also be good if vote percentage could be adjusted automatically, based on current payout. Again this is probably only an issue till steemit achieves scale but it is still a significant turn off for new adopters of the technology.
Is it aggregation of each accounts payout?
No just top posts. It's not aggregated by account.
In a way this is the best way to look at it. Of someone puts in a lot of effort and writes multiple posts then in my opinion it's fair to get more of the reward pool.
no cap
wage and price controls NEVER work
Roosevelt tried it.
Nixon tried it.
Chavez tried it.
nope...didn't work
Fair enough. I respect your point of view, consider there will always be a cap though, the daily payout of newly generated Steem is a hard cap. The only questions is should all this go to a few or the masses? I would propose the masses.
what you are speaking of is not a cap...it's a limitation of the supply. the term you are looking for is 'supply and demand'. that basic econ .01.
voteing determines how it is divided.
Steam Power determines how much each vote is worth (and other factors)
How much money, time and effort, you have put into Steemit, determines your Steam Power.
SO...put your money where your mouth is...or get busy posting...earn some steem power..