Very first impressions after Hardfork 19 took place
Unbelievable effects of single votes!
This is an article but actually at the same time kind of a test balloon concerning the effects of votes after hardfork 19.
I just tested the effects of 100 % votes by upvoting a comment of my friend @javifo who is still new here on Steemit. My recent Steem power is somewhat higher than 50000 and my remaining voting power only about 50 %. My vote brought him more than (estimated) 27 dollar(!) - but see yourself:
I knew that the weights of 100 % votes should increase after the upgrade (I thought by a factor of 4 - whereby voting power would decrease faster per upvote) but was not expecting it to have such a huge effect. On the one hand it feels quite fantastic to have such a strong impact now, but on the other hand it means one has to be much more careful with what to vote and with how much of ones voting power ...
Conclusion?
I still can't draw any conclusion - it is too early. But one thing is obvious: these changes are everything else than insignificant ... exciting times are awaiting us ...
I really would like to read your opinions about the changes. Do you appreciate them? Which problems may arise (I have some in mind but like to hear your point of views first)?
"much more careful with what to vote and with how much of ones voting power"
but being careful is never that fun now is it?
After some thinking my preliminary conclusion concerning HF 19 is that ...
I completely agree that the linear reward curve is a big step in the right direction.
However I doubt that it was a great idea to increase the impact of a 100 % vote by a factor of 4 (whereby voting power would decrease faster per upvote).
It means that you can reward some friends (or some strong accounts from which you hope to receive some loyalty votes back ...or ... yourself ... or ... your other accounts ...!) very rich, but then probably there is not much voting power available anymore for the 'rest'.
However with a fast growing number of Steemit users it may be better to spread many small votes instead a few huge ones (reserved for a few 'loyal' accounts).
good article. But isn't the steempower reseting every day, so it doesn't matter right? I mean you could upvote your friends comment every day:
31 * 27.78 = 861,18
Reward after upvoting friends comments over 31 days and $27.78USD per upvote is equal to
$861,18USD.......that guy must / should be(come) a verrrrrrrrrrrrrrrrrrrry generous man after that sums of cash ;) !
Actually if my voting power has recovered (at the moment when writing the article it just had decreased from voting too often) a single 100 % vote should have an impact of over 50 dollar. Even if it decreases after every vote, I could spread a few very strong votes, indeed (with emphasis on "a few").
However the number of members is growing rather fast these days so it would be much better to spread many small votes instead of increasing the impact of a few 100 % votes. Of course I still can spread many 1 % votes but the temptation for big accounts is rather high to exclusively vote for each other (if I vote for a big account and he votes me in return that is much more profitable than voting for example for you and you vote me in return ...), to vote for themselves or to vote for ones second (third, fourth, ...) accounts.
Good conclusion! ;)
I just tested: 3 % votes brought commenting users 82 cent ...
Rest of the comment edited as the content was the same as in my other comment above.
You can see how much your vote counts on this side:
https://www.steemnow.com/
there is a Slider so you can see it without make a vote to test it!
Thanks, I read that, too ... but the option of @penguinpablo's tool 'SteemNow' to check ones own voting impact, is still quote new.
well lets see how this plays out, this is really getting interesting, @aggroed had mentioned it would be this way, we might be getting upwards of $15k posts on the trending page.
Yes, actually I tend to agree with @aggroed.
I noticed that my first few votes were a lot, then by the fourth vote I was adding a few cents! lol
This is going to be fun. I will have top play with the percentages of voting power to see what will be optimum.
I really think the biggest change is you have to be a lot safer with your votes like you said! I'm not sure how it will turn out. But, in my opinion, for the people who truly work hard here, this will definitely pay off.
I think it could possibly weed out a lot of people who want "easy money" because people will be more aware of those asking for handouts and resereve their votes for other people who are working really hard
I have no idea what this means with voting power to be honest, I don't even know how to adjust it. but I love the fact all my posts for this week went up a LOT!!!!
Thank you very much again for this article. I haven't spent much time thinking about the system yet but it feels strange indeed. I wonder whether there is any mechanism in place to keep people from simply voting for there own posts and comments? That way the whales can earn a rather decent amount by just commenting and voting themselves up.
I'm not saying that's a bad thing by itself but I wonder whether the developers thought about this effect.
Great post! I'm much excited with these things! I have no idea what is going on! But, It's excellent! ;)
Smart to do a test! We will continue to observe.
After I had enough time to think about the changes I predict an exclusive 'club' of big accounts voting for each other with their few available heavy votes (which is a completely rational behavior as the system allows it) which means that in the long run other users get even less of the cake.
To flatten the reward curve was a really good idea which unfortunately has been counteracted by the increase of the impact of the 100 % votes by a factor of 4, while voting power is decreasing much faster than before.