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RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!

in #steemit • 5 years ago

I am not a tech guru to understand all the background - usually I trust your conclusion @ats-david, one thing I want to know more is:

You are in favor of the 50/50 content rewards split.

WHY? I do not see any value to this, are you really confident this will help content discovery or encourage anyone to manually search and vote valuable content at all?

5 years ago in #steemit by
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     5 years ago 

    I’ve talked about this for about two and a half years, but this is basically why I’m in favor of higher curation rewards:

    If we want more and better curation, we need to incentivize it. If we want more investment, we need to incentivize it. And if we truly understand that social media is not comprised of 100% bloggers and commenters – that the simple act of voting on content is actually the largest chunk of interaction – then we need to make it more lucrative for content consumers to easily invest and earn for the quality work that they contribute.

    Curation rewards are that mechanism for bringing in more investors, for likely keeping them more engaged, and for bringing in a wider base of users that are not solely here to create low-quality content and not promote it, then hope for big rewards...and then ultimately become disappointed for not earning from their lack of quality, effort, and experience with social media and networking.

    That excerpt was taken from here:
    https://steemit.com/steem/@ats-witness/block-change-you-can-believe-in

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     5 years ago 

    I sincerely hope you are right - many of the content creators feel curation is not happening at all - now they might get less they might leave - if the price goes up by 3-4 times as of the change - perfect. I simply have only doubts this incentives to curate "manually" will ever happen. Thanks for replying!!

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       5 years ago 

      Better curation, but no one creating content anymore. Good plan.

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         5 years ago 

        Why wouldn't anyone create content if rewards were split 50/50?

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           5 years ago 

          Because under the new system, it seems that if one person gives you a 1 USD upvote, you will only get 0.27 USD instead of 0.75 USD. That's a big difference.

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             5 years ago 

            I don't think your math is correct.

            But you're telling me that people will not post because they'll "only" be getting $0.27 (or 27% of the stated payout, according to you) for a post nobody sees instead of nothing at all most everywhere else? I'd be willing to bet against this claim.

            I also don't think that you're taking into account that better incentives for stakeholders likely means additional positive price pressure for STEEM, which would make each of those "1 USD upvotes" more than 1 USD.

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             5 years ago 

            Well the math seems to be confirmed. Someone replied to my question and it is true :( Do not forget I just gave one example, it might be difficult for some to get "something" because the don't get to the 0.02 minimum needed.

            We will have to see if Steem actually goes up in price. They have to change a lot for it to go up again, right now I don't see it.

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