The Reward Pool Abuse Saga

in #steemit7 years ago (edited)

In this opinion piece, I will elaborate on a rather sensitive issue surrounding the “abuse of the reward pool” or some like to call it the “Reward Pool Rape” that has recently haunted the steemit platform and why I think the issue will resolve itself over time.

The phrase “Raping the Reward Pool” or “Reward Pool Rape” is basically the act of a one user getting a bigger portion of the reward pool than the rest of the steemit community by “inappropriate” means, as deemed by the “vigilante” users of the steemit community.

So, now that we understand what this phrase actually means, let’s take a step back, and look at the mechanics that allow steemit to operate the way it does, to understand how, the steemit ecosystem deals with this “act of injustice”.

The Steemit ecosystem was built such that, it has a way of balancing itself out, and I say this because of the following reasons.

Daily Reward Pool Generation

There is new steem created and added to the reward pool on a daily basis, more information can be found on this greate article by @fatboyjames - Article Link. Now, what does this mean in terms of one user raping the reward pool over time? The answer to this is quite simple, as much as a user rapes and abuses the reward pool, the system will generate and add to the reward pool. But wait, does that mean the more the user abuses, the more lesser the rewards become over time? Well, that is in fact correct, but read on to see how it tends to balance itself out overtime.

The abuse starts with Investing in Steemit to begin with

In order, for a user to be regarded as “abusing” the reward pool, a user has to actually invest a considerable amount of money in steemit first. And I mean, really huge amount of money to be actually noticed by the steemit community. That is, by way of buying steem to power up and have more influence within the steemit ecosystem. Since, steemit is based on a proof-of-stake model, there is basically no other way to start abusing on here, other than to invest a huge sum of money to actually be seen as conducting acts of abuse by the community.

This act of buying steem for nefarious reasons, actually benefits steemit, as it is more or less considered an investment to the steemit ecosystem, whichever way, we may view it.

And how exactly does this benefit the community, one might ask? Well, the act of investing actually contributes to increasing the market cap for steem as tokens are traded in the open market. Users actually trade altcoins for steem or fiat for steem, which in turn, increases the value of our beloved steem and steem dollars. So it actually, balances itself when you take this into consideration.

Steem and Steem Dollars will only increase in value as more investments are made into the steemit ecosystem, regardless of whatever reasons the investments are made.

Flagging To Protect against Abuse

By all means, if we have an issue with abuse of the reward pool, we still have the option to flag a particular abuser. It however, makes no difference or sense, when you’re only a minnow in the steemit community, as your vote barely makes an impact against an abuser who has actually invested a considerable amount of money in steemit to begin with. However, if it is rather a passion to fight injustice that only means one thing and that is to invest in the steemit ecosystem, to actually have some impact against whale abusers. In this entire conundrum, the community again benefits as more investments come in this manner, as well.

It’s now or never to build on that steem power

Unless you’re like me, and see steemit for reasons discussed here. Then, it’s perhaps a crucial time to focus more on building that steem power, while we can. As steemit, for reasons discussed, is destined for greatness, whichever way we see it.

Better still, the investments or power ups will have to be paid in 13 weeks at max, and so it gives everyone ample notice if anything major is about to give. But then again, it does not stop the steemit ecosystem creating more liquid steem to the reward pool for all to benefit regardless.

The fact of the matter is that a lot of good minnows, will become whales one day, and that itself will ensure a good balance of influence within the steemit ecosystem overtime. The abusers by then will see no point in abusing anymore, as they will feel the full wrath of the vigilante whale community in that context.

So, yes it all does even out at the end, would you agree? Let me know your thoughts on this. And a big, big shout out to both @ned and @dan, who obviously have their own opinions about what I just discussed. I just reckon, steemit by far, is the best blockchain system with a good mix of give and take, and I am very thankful for that.

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First, thank you for using the term "reward pool abuse" rather than "reward pool rape." Just accusing someone of raping anything is really offensive, and I'm sure it's doubly offensive to anyone who has actually been raped. I think we need to keep that term in the context of sexual assault.

As a minnow, flagging wars and reward pool abuse are both problems that I am very interested in fighting against, because they basically equate to the platform allowing systematic censorship. However, as you point out, the only way to combat it is to become a whale first, and then hope that by the time you become a whale you haven't become so blinded by greed that you in turn abuse the reward pool.

I was sad to see that @mitrado is powering down and leaving steemit because he cannot post without being flagged or censored due to a personal vendetta by guess who. Do you have any advice for someone in @mitrado's position on what to do to be heard on the steemit platform?

I have personally been wrestling with the decision of using my SBD to power up or to wait and see how steemit addresses reward pool abuse. I certainly don't have enough SBD to fight other abuses, and don't want to be in the position of having my money tied up for 13 weeks if I become the target of some whale that loves to troll minnows by censoring them and find myself unable to participate on steemit at all.

If the answer to stopping abuse is for everyone to have a giant financial stake in steemit, this signals to me that the underlying rewards structure is flawed and needs to be changed. The system should not be set up so that the wealthiest fraction of users can systematically censor other users for posts that the extreme majority find inoffensive and valuable. Since steemit is a diverse community with a worldwide presence, how can you ask someone who is living on an average salary in Bangladesh to power up his account to the extent of someone living on an average salary in the U.K.?

Steemit is an interesting social experiment, but I don't think it will be a successful one unless new users have a way to be on more equal footing with greedy whales who think that anyone receiving a fraction of a percent of the reward pool is cutting into their bottom line. I am very interested to see if and how this problem will be solved.

Thanks @sc0ut for sharing in this post, you do touch on important points.

I was sad to see that @mitrado is powering down and leaving steemit because he cannot post without being flagged or censored due to a personal vendetta by guess who. Do you have any advice for someone in @mitrado's position on what to do to be heard on the steemit platform?

Steemit and I agree with you, is a very interesting social experiment. It is one, that is showing us the flaws that can be improved on.

But then again, what might be considered a flaw will be an advantage for other members of the community.

My best advice in such context, can be best summed up with this saying "Be the change you want to see in this world".

By that, confrontation is not always the best and least resistant path in order to come out victorious, especially in an ecosystem like steemit, at this point in time.

The game just got started and that's way I encourage to focus more one adding value to the community by indirect means and try to understand why this "acts of injustice" are allowed to happen, will only give you a good experience on steemit.

Do not focus too much on fighting the whale abusers, as it will only discourage and give you a bad experience of this rather amazing social experiment that we are a part of.

As @ronel just posted here - "Everything will be fine in due time.", so focus on the exciting part of steemit at least for now. :)

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Tnx, this post is enlightening

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*Facepalm, Of COURSE!!!!

Dude I didn't even consider that some of these guys would have to have invested in some shape or form to even get to that point. AWESOME.
Makes me feel much better already, thank you so much for pointing that out in such an eloquent manner.

I guess even delegation doesn't come for free, even if we are talking about a questionable crew... at least one of them would have had to invest into the platform before all the fighting started, which is more than good enough for me to stop worrying about this aspect for now.

As for your article, it's exemplary. I would have loved if you had included some other picture as well, say from unsplash.com to really give it the final touch, but I will try my best to get this post of yours more attention regardless.

thanks again!

Thanks @paradigmprospect glad it helped clarify things. :)

Really appreciate the kind words. You're right, I guess, I need to work on getting that final touch to give it that grand finish. Thanks for the support and the link unsplashed.com, I never heard about that.

Thanks again my friend. Followed you as well :)

As I said, the content is awesome. One picture in there might make the difference of this trending or not, but what do I know, I'm still in my beginnings myself.

Was just checking out the trending page for motivation and just realised around 100% of posts there are paid for via bots and whales helping each other.

I just enjoy writing on here, as it helps put things into perspective for me. But I still think I have to improve on adding that extra touch as you've pointed out...lol ☺

Fresh new perspective on flagging wars!

Thanks to @paradigmprospect, this post was resteemed and highlighted in today's edition of The Daily Sneak.

Thank you for your efforts to create quality content!

We can't actually put to jail rapists here on steemit.

I am sure someone is already thinking about creating a decentralized block-chain based system of governance in the not so far future that should be able to deal with rapists and the likes. :)

But then, I'd like to think that once someone get's all he needs, it becomes irrelevant to them to apply force in pursuit of things they desire in any given scenario.

Everything will be fine in due time.

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