STEEMIT IDEA - Instead of "Promoting" a Post Allow Us to Directly Increase a Post's Reward!
Help! .. We Need This!
Promoting a post is meant to give it a boost in visibility and to generate some good will as the author is seen to have donated SBD to the community, effectively. I am not sure how effective this option has been for authors, or if it serves some benefit in the eyes of STEEMIT Inc., but from those STEEMIANS I have spoken to it is not something that many are making use of.
I believe that giving authors, and anyone who may wish to do so for any number of reasons, the ability to put purchased STEEM 'directly' into a Post Reward, would be much more effective. First of all, it would naturally increase the post's visibility, due to the amount of reward attached and secondly, it would receive more support because of the increased benefit to curators.
Many Possible Reasons Authors May Wish to Do This
... We Have One Right Now!
In the vaccum left by @steemsports we have introduced @Free2Play in order to assist minnows and new members in gaining a steady increase in STEEMPower while they gain traction with their own content creation. It is early days for us, and we hope to gain more support over time with improved quality of work. An important part of gaining that support is to provide for participants to gain benefit from their participation.
Thankfully our first two posts will provide a little something to those who joined in .. We are very grateful for the upvotes that gave us a boost! Unfortunately our third is not doing so well, and we would love the ability to use our own resources to boost the eventual payout to curators and those participating in the game itself, who choose the correct outcome of the event!
Let Us Be Our Own Whales!
We do plan to provide a little something to the participants regardless, in order to encourage continued engagement, but it would be nice if 'somehow' we could put it directly 'and visibly' into the balance. We understand that any such changes are technically challenging, but if one considers the many possible benefits it would appear a possible replacement for "Post Promotion".
">
Great idea!
Hello! What do you think about my proposal?
It is a definite improvement. I can not remember the last time I looked at the Promoted Tab personally. Having them clearly marked when viewed in regular feeds, would draw the attention they deserve. What I am suggesting does not have to replace post promotion, I should never have presented that way - implementing your suggestion 'and' having the ability to directly fund a post can co-exist! :)
I was just introduced to the idea a bit earlier by @onceuponatime who wanted me to promote one of my earlier post. It is a good idea, but I wonder if it is really worth it, depending on the time of the day as well as the day of the week... It follows the same rules I have decided to post by and I think timing is everything, including for the promotion of our posts. I shall promote, when the time is ripe. Thanks for the article, this is important considerations to keep in mind, namaste :)
If we implemented this, I could 'spend' 1,000 SBD to be #1 on the trending page, and then I would get my $1,000 back at the end.
You might get it back if the post is worthy of support above what is injected into it, but only 50% will come back to you for certain.
If not missing an obvious detractor, I think it is a terrific idea that would allow people to directly improve curator bottom-lines, while serving as a method of promotion 'and' as a method of providing MORE! to those who support a specific post.
Should be implemented immediately! :)
What would happen to the other 50%?
It would be transacted in STEEM - SBD is used in promotion, yes, and it is clear why, but with the magic of programming and a few cycles this can be done in STEEM (*whispers .. I think we can do without SBD entirely, but that's already been discussed earlier & elsewhere).
So, you would get 1/2 back ... correct me if I am wrong.
What would happen to the other half?
Hi Tim,
Sorry I think there is some confusion. If the suggestion were implemented, and I realize I am thinking of this mostly from the perspective of our immediate need, if we were able to add STEEM directly to the post reward, with a 50% SP / 50% SBD & STEEM Author Reward, we would have 50% to distribute to our participants. At the same time we are increasing curation rewards ..so in fact less than half what we put in would come back to us in the form of STEEMPower.
The wider application used by most people, would be to increase curation rewards, in hopes that this would 'promote' the post - inbthis case more than half would come back to the author for certain, but there is a chance that more than 100% is returned depending on how much they put in and how well received is the post.
If anyone could increase any post's reward directly, well that would be the ultimate way to support and promote the work of others in one fell swoop. :)
Perhaps we are looking at it too innocently ..not seeing the potential for abuse. Limits I am sure can be set to prevent such things ... but if someone wanted to drop 100 000 STEEM on their own post ..the curators would benefit greatly, no? Or does it completely f up the economy?
If they do it early on in the post, then the curation rewards go to the author.
It is a really cool idea, but unfortunately the ways it opens up the system for abuse are going to be the challenge.
SP?
If you add $1,000 to the post and you get $500 of it as STEEM and $500 of it as SP - you are still getting your money back. I suppose it is forcing users to power up (which could end up with a loss) but it is still a way for a user to game the system.
But...what if you could not self-promote with this feature? If it was used as a tipping/promotion option, wouldn't that limit large accounts from promoting themselves?
And if the transfers were visible, then anyone would be able to see them and judge for themselves whether they want to vote on the post. So, a user could promote a post for $1000, but if the post isn't clearing enough of a reward to make the full $1000 back because others are not voting on it, it'll actually be a loss for the promoter (assuming that self-tipping on the post was allowed).
There is no way to prevent self promote. People would just use sock puppets.
I'm not sure where the loss would be coming from. Wouldn't they get whatever they spent back in the end?
Not with the payouts being split between authors and curators. Unless other people are upvoting their posts to cover all of the curator payout, they would just be taking a loss.
So, say you put $100 into your own post reward. The curation rewards would be ~25% of that. Unless the post makes enough to cover that ~25% loss to curators, you won't be getting that $100 back.
And if your own tip was visible to everyone, curators would know if you were simply trying to game your own reward and they could choose to not vote on your post. So, this would make self-tipping a lot more risky. Even if the tip is coming from a third party, there's no guarantee that the post will cover the curation loss. And if it does, and the tipper is also the owner of the tipped account, then they're just transferring money to another account. They aren't gaining anything that they haven't gained from other users voting on the post, just like normal rewards are distributed.
On the sock puppet issue - it really wouldn't be any different than creating multiple accounts right now and voting on your own post. It's still your own money and voting power that you're putting into it, right?
If you threw $100 at the post right in the first second, then the curation rewards would go to the author..
IDK, the idea itself is very cool, but unfortunately (IMO) it opens up way to ways for users to game the system. The amount of complexity that would need to go into a formula that could not be abused would make it very difficult.
I really like the pure tipping idea that is being discussed, with a separate balance that only needs your posting key to use.
Well, if it can't be done, so be it. But a tipping option should still be on the post, even if not added to the payout. I can't think if any reason why it shouldn't be.
That is the plan, based on the discussions that I have seen in GitHub.
If half of the self promotion gets SP... I think it is not so bad for the economy of steem...
That's something I had overlooked. The post payout is split between SP and liquid rewards as well, so getting back the tipping amount isn't so easy in that regard either.
VERY GOOD IDEA! And something I would like to add as a future is to buy more time when spending money for promoting a post NOT only visibility! The blockchain should delay the expire of posts that get many "donations"! Imagine a posts in the trending page for 3-5 days BUT because they have contributed heavily with SBD "burnings"!
Heck yes! Being able to extend the curation period would also be very helpful!
That's an interesting concept. How would that affect the daily rewards pool to have a post open for that long...or to have many posts open that long?