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RE: Proposal: Add Promoted to Visible Post Payout - so Promoted Posts will climb higher in Hot and Trending

in #steemit5 years ago (edited)

Upvoting for the work you put into this, but I disagree on some points.

  1. A post's value is what it is. That number should not be displayed differently and even if the display changed, that wouldn't change the underlying blockchain value of the post which (presumably) the condensor code (Steemit.com) uses to sort posts into Hot, Trending, etc.

  2. Voting on posts doesn't change SBD inflation. The same amount of rewards are going to be given out by the blockchain no matter what. More votes by different people just spreads it around more. We're not mass-producing SBD any more or less with the introduction of pay-for-play voting bots.

  3. There is a reason (some) people like Steemit. There are no ads. Content is voted on by individuals (or their bots) and organized based on the power of influence through vested stake in the platform (Steem Power). In theory, those with the most to lose by promoting crap content which drives people away from Steemit instead of to it will be the most motivated to promote good content.

If we flood the "normal" channels with promoted content, then we fundamentally change the dynamics of Steemit. Now it's no longer about popular posts showing up in Hot or Trending, it's about who has the biggest bank roll or rented delegated Steem Power.

Here's an alternative approach:

Buy Steem. Power Up.

It's really that simple. You'll get 6.7% increase in creation of new Steem Power, you'll drive the price of STEEM up for everyone, you'll earn more in curation rewards for the long term, and you won't have to pay a bot or a delegation service (who are making nice profits of their own).

In the future, I think the proper way to handle promoted posts will be to show clearly how much money was spent to promote the post (I think, like votes and views, that's also an important signal) without having to click the arrow for details (maybe a small Post Promoted by $10.00 text at the bottom of the post). I also think there should be an option to earn SBD for those who want to see ads/promoted posts. Instead of 100% going to null when posts are promoted, what about a percentage going to a fund which pays out to those who choose (via a custom_json setting on their profile) to view promoted posts in their stream, much like Twitter or Facebook shows promoted posts.

This, I think, could work well.

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This comment just inspired a full post: Consider Buying Steem. Be an Owner, not a Renter.

Holy cow, your comment destroyed my post ;) All your points are valid, I've got only few things to add:

  1. Of course you are right, we can't create more SBD that there is in the steemit code. I think what I meant was lowering the reward pool - so all posts are worth a little more. Although I need to educate myself on this matter, sorry if I'm making error somewhere here.

  2. Maybe with each website view, some randomly chosen promoted post can be displayed on the trending tab? The higher the promoted value, the higher the chance to be displayed with each website view (load). But only one post, additionally marked as "promoted". Like always on 4th place from the top?

Generally I really like the idea of burning as much SBD as possible and Promote functionality definitely needs upgrade. But allowing everyone to buy his place on trending is probably too much. Thank you for your comment.

Now, it's time to write about @promoted voting bot, it needs some love :)

Sorry, I didn't intend to destroy anything, and I can be very opinionated. :)

  1. That's a good clarification. The reward pool finds balance on it's own using the current supply, but I'm not very familiar with the details of that calculation. Burning SBD impacts the price because it impacts the supply and demand involved, as far as I know.

  2. Yeah, I like that idea but more so if people could opt in to it. I love the idea of Steemit being completely add free (even promoted content free). That said, if there was some small encouragement via a reward (or maybe just a setting turned on by default for new accounts?) to have those promoted posts show up here and there, I think that would be great.

tip! 0.5 simple

Nice thoughts here.
Its good to see opinions like that from where we, the less tech guys can understand a bit more from the mechanism here.

gg!

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