Why 5 Votes and the Vote Bar is GOOD for Steemit!
The new changes are geared towards more vote power management in your hands, as well as aiming to force greater quality content creation on Steemit and improving the value and reputation of the Steemit platform and community.
How so? This is how.
Prior to the recent changes announced earlier this evening, if you weren't a high powered SP holder, you had no "Vote Bar":
All of your votes were at a default of 100%, and you had 20-24 votes per 24-hours before your Vote Power was getting reduced beyond the daily 20% recharge full-power refill. This made people vote indiscriminately in terms of how much weight they could distribute for the content they valued and voted for. Everything received the same vote weight without the Vote Bar.
Now, you can distribute the weight of your Vote Power according to what you value a post or comment should have:
- 5 votes at 100%
- 10 votes at 50%
- 20 votes at 25%
- 25 votes at 20%
- 50 votes at 10%
- 100 votes at 5%
So yes, your default 100% voting power is now at 5, instead of 20 votes per day at full charge. But you have more control over it. That is point #1 of why this vote change is GOOD for Steemit and you. The quality can be more accurately judged and given more weight accordingly, rather than indiscriminately voting at the same Vote Power weight each time.
Point #2 for why these changes are good, is the 5-vote default instead of 20 default.
This will force people to be more careful in what they vote for; to pay more attention; to spend their Vote Power more responsibility.
What does this result in?
This results in more QUALITY CONTENT receiving more Vote Power weight. This gives more visibility and exposure to content that is more highly valued.
And that's just for the Voter curation side of things.
Point #3 for why this is GOOD for Steemit, is that this is going to force people who create content, to up their game, and create BETTER QUALITY CONTENT if they hope to attract for Vote Power weight from people who read their content. This again, gives more visibility and exposure to content that is more highly valued, your content! That is, if you create valued quality content for people to upvote accordingly
If you want more upvotes that matter more, that have more weight to provide you with a payout, you are going to have to ensure the quality of your content creation is high and attracts more value for people to appreciate. If you still post low quality content, then less people are going to vote for you, and less people are going to give their Vote Power a 100% for your low quality content.
This will means Steemit will become a platform of higher quality content, since people who don't increase the quality of their content will receive less attention and either 1) force themselves to find meaningful, valuable topics to create content about, or 2) leave the content creation up to those that do create more meaningful and valuable content. This is GOOD for Steemit's reputation in the eyes of everyone who is already here, and those who want to invest in Steemit as a source of QUALITY content creation.
In Summary, these changes are GOOD for Steemit and everyone because:
- You have more Vote Power weight distribution control.
- You have more power and responsibility to curate quality content as a result and get it noticed more accurately through higher visibility and exposure in the community.
- You, as a content creator, will need to create higher quality content, or leave it up to others, and thereby increase the value and reputation of the overall Steemit platform and community.
Thank you for reading!
Let me know what you think of the changes or if you disagree!
Take care. Peace.
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Author: Kris Nelson / @krnel
Contact: [email protected]
Date: 2016-09-02
All of your logic applies to the vote slider and not the other proposed change. I agree the vote slider is great; they gave it to some of us last month to try out and I've loved using it ever since. Glad that everyone finally has it. As for your title's assertion that the 5 vote target is good (with which I strongly disagree), I don't see any real support for that in your article. It's quite detrimental to the platform for many reasons, which I and others outlined in our responses to the main team post.
10 votes at 50%
20 votes at 25%
25 votes at 20%
50 votes at 10%
This helped explain it much more, thanks
this and shenanigators response are absurd propaganda, plain and simple.
This new release will not decrease the number of whale votes. Because as things stand, most whales don't max out their votes. The only thing this cap will do is decrease the amount of dolphin and minnow votes by forcing them to conform to vote as infrequently as the whales already do.
Like many of the promises made by steemit, you'll be able to see this when the amount of money your vote is worth stays the same, buy you are only able to vote 5 times a day.
Here's an idea for the overall credibility of steemit. Maybe we can have just a single week one day where the whales don't attempt to stop anyone who doesn't agree with them form voting.
"not decrease the number of whale votes"
I never said anything about how this will or will not change how "Whales" do things.
"only able to vote 5 times a day"
No, you can vote as much as you want, there is even a list of how the distribution works showing that this is not the case. Saying it's "only 5" is false.
In order for the above statement to be true (its not), the 5 vote cap will have to decrease the total number of Rshares voted to 1/8th of its former total (it wont).
In order to decrease it by that much, it would have to cause an accross the board decrease in votes cast. This will not. Since, as you say, this will not change how the whales do things, there will still be the same (or nearly the same) number of rshares cast.
So for example, lets say right now the voting is distributed thus:
total reward pool (for curation and blogging)
40K
10 whales voting 5 times a day for 50 votes, each worth 600rshares each =30,000rshares
10000 minnows and dolphins, each voting 20 times a day, worth an average of 50c=10,000rshares
In this system, whales would distribute 30K of the 40k with their votes and non-whales 10K.
Under the new system, as you say whales won't change theyll still cast 5 votes a day, at 600 r shares each= 30,000 rshares
However, the amount of votes cast by minnows, and dolphins will be quartered, Where the whlaes used to cast 30K/40K rshares, they will now cast 30K/32.5K
Yes, you can vote as many times as you want, but with decreasing power. The target vote amount is the number of votes that maximizes your impact (iiuc). If the minnows and dolphins in the example above voted more than 5 times a day, their decreased power would decrease the effect of their votes in terms of rshares awarded by them. A change from 10k/40K to 2.5/40K is the absolute best they could hope for.. voting any more than 5 times would actually decrease their effect even further.
Your example uses a fixed amount of minnows voting. However if the number of minnows continue to grow, then by holding the whales to a smaller amount of votes, their rshares should be a smaller amount of the rshares already cast.
Not really, because the amount of vote power the minnows have is so small even if they tripled they wouldnt have a significant impact on the total number of rshares cast.
I added some info from another post I recently found, maybe that will clear some things up:
https://steemit.com/steemit/@krnel/why-5-votes-and-the-vote-bar-is-good-for-steemit#@krnel/re-krnel-why-5-votes-and-the-vote-bar-is-good-for-steemit-20160903t042829909z
I think you might have posted the wrong link... that link just goes to the response with the link.
My comment is propaganda? It's just my analysis of what I see as the problems and benefits of this change. Can you point out anything in my analysis that is incorrect? (Except for my solution to the last problem, I know it's a terrible solution and completely insufficient).
read my response to krnel directly above your post (I actually replied to his post but quoted yours).
Incidentally, i don't see a problem with users upvoting their own posts. I always do it (at least ever since the bot wars) because if your comments have no upvotes, its easy for even a very weak bot to come along and use a low power flag to hide them.
I added some info from another post I recently found, maybe that will clear some things up:
https://steemit.com/steemit/@krnel/why-5-votes-and-the-vote-bar-is-good-for-steemit#@krnel/re-krnel-why-5-votes-and-the-vote-bar-is-good-for-steemit-20160903t042829909z
I think the current and proposed changes coming with Hardfork 14 are a step in the right direction, but I would like to see the ability to recharge your Voting Power via SP Purchases. This would incentivize the purchase of SP (or conversion of Steem/Steem Dollars to SP) and give everyone the opportunity to vote (at 100%) more posts by recharging their Voting Power as needed.
I am glad to see you having a positive impact on Steemit. I am trying to have a positive impact on Steemit as well as bring in new users so I hope you don't mind. #payitforward!
[Crowdfunding] Steem.Gifts and Steem.Market need Steemians help to become a reality!
I was going through the "new" section for new posts to curate, and I found someone else who did an analysis on why this is good: Your voices have been heard: Steem 0.14.0 will improve voting rewards!
@dantheman adds:
And @chitty added:
It seems like less minnows will get upvoted. Whales will save their votes for posts they know will go viral.
A valid concern.
changes for the better
Thanks for the write-up. I've been trying to understand this change and weigh the pros and cons. There have been a lot of 'cons' posts/comments, so its nice to hear the other side.
The main argument that I see against the change, is it will incentivize users to vote less. I can see truth to this. Rather than search out a lot of good posts for curation rewards, it is better to just find 5 posts that will do well and just vote on those.
I agree with @dantheman's comment though:
A lot of people are treating this as "you only get 5 votes". No. As you pointed out in your post, you only get 5 votes if you use your maximum voting power. You can still vote on 40 posts like you do today, if your lower your voting percentage for each of the votes.
In my opinion we are not really going to be able to tell if this is a good or bad change until after it is implemented and we see how users change their voting behavior, and the payouts change. Right now there is just a lot of speculation.
right. So, for example if I as a big minnow (small dolphin whatever) have a vote worth 4 cents that i can use 40 times rightnow, under the new system, i can still vote 40 times, but only at significantly decreased power, so each o f my votes would b e worth less than 1 cent.
Or i can vote my full 4 cents 5 times.
At the end of the day, the effect is the same. I had $1.60 worth of infulence, and now i have $.20 worth of influence.
I don't think that is the correct understanding.
You make some good points. However, i also believe steemit wont survive with just 5 votes a person. People will hold on to those votes, and if you make a post yourself and most of the time is automatically upvoted, and you make four posts a day, that means you can only vote on one person. This means you are not going to waste your time looking for new people or helping them out because you only have one vote left. In addition, since everyone only gets 5 votes, more people will have less upvotes which equals less rewards.
Therefore, it might be better for people already on the platform, but not for newbies or people who still havent joined. So either way, the rich get richer and the poor get poorer. This may cause many people to abandon steemit alltogether.
I guess all we can do i wait and see.
I still look for content because I try to help Steemit grow by promoting quality.
I will do a test tomorrow when I next post. I will record my vote power, then post, and see what percentage is automatically applied/taken from my vote power weight.
Thanks.
not sure what that would do... the post you linked to is a proposed hardfork. It h as not been implemented yet.
The vote bar is something unrelated. You h ave always been able to cast percentage votes like that in the CLI. It wasnt necessary to hardfork to make that feature available.
certainly a very good idea, but the question I ask, which is considered an article of good quality?
Explore the meaning of the word "value", and "quality".
Read this: The Steem White Paper- a must read for ethical Steemers
And my own analysis: Steemit Succeeds if We Make it Succeed - Analysis to Help Yourself and Steemit Grow in Quality.
They all are my friend. Especially the ones with >60 rating with whale followers. Perfect posts everytime