STEEMIT---VOTING Collusion

in #steemit8 years ago

 While  cooperation to distribute funds to the best work is the desired goal, collusion that undermines this objective should be minimized. There are two kinds of collusion , the most straightforward is when one user simply buys a larger stake than others, and the other involves coordinating a large number of smaller stakeholders to work together. Larger stakeholders can have the voting influence of 100 or even 1000 smaller stakeholders which means they have even greater incentive to defect by voting for themselves than they had under a linear distribution. 

 Regardless of how much money any one individual has, there are always many other individuals with similar wealth. Even the wealthiest individual rarely has much more than the next couple wealthiest combined. Furthermore, those who have a large investment in a community also have the most to lose by attempting to game the voting system for themselves. It would be like the CEO of a company deciding to stop paying salaries so he could pocket all of the profits. Everyone would leave to work for other companies and the company would become worthless, leaving the CEO bankrupt rather than wealthy.


 Fortunately, any work that is getting a large concentration of votes is also gaining the most scrutiny (publicity). Through the addition of negative-voting it is possible for many smaller stakeholders to nullify the voting power of collusive groups or defecting large stakeholders. Furthermore, large-stakeholders have more to lose if the currency falls in value due to abuse than they might gain by voting for themselves. In fact, honest large stakeholders are likely to be more effective by policing abuse and using negative voting than they would be by voting for smaller contributions. 

 The use of negative-voting to keep people from abusing the system leverages the crab mentality that many people have when it is perceived that one individual is profiting at the expense of everyone else. While crab mentality normally refers to short-sighted people keeping good people down, it is also what allows good people to keep bad people down. 

 The only “problem” with crab mentality is when people wrongly believe someone is profiting at everyone else's expense. 

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Great post! Thanks for sharing!

I have just joined Steemit recently and have some unique and exotic set of skills. One of them is animal communication and rescue. Yes I am a real animal communicator! I am wanting to rescue this horse! I need help! I am in the process of setting up a 501c as well but it will take some time. Please vote me up so I can adopt this mare.

https://steemit.com/life/@whitedolphin/i-need-your-help-horse-rescue

I've been here 4 days now. To me it just seems there are a few whales and thousands of little fish. Almost no funds goes to the little fish. Only a few crappy articles get all the attention and other deserving articles get nothing. Must say that I have lost my initial excitement. Seems like this is only a pool full of whales and stuff the rest. Very sad, Steemit could have been so good..

need steem power, but you have to steemit and you will receive.
i have also this problem
i agree with you, little fish get no funds, probabily algorithm is about new users and old users with more steem power??!!

Yeah, sadly all new users are screwed. Most people signing up in droves will be leaving again in droves after a few days when they see it is all manipulated and that they will just stay at $0.00 all the time. So sad.

Whales are whales because they post good content, so they get that status. It's the steemians that create whales and give them power. Of course they can upvote each other, and regulate whats good and bad. It's up to the whales to be fair and reasonable.

Not at all, many of them just mined early on multiple accounts. Others botted upvoting the last 3 months.

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