RE: Yet Another Post Regarding Unfair Payouts, But This Is A Proposal, Not A Rant
Yes, but the "kings" should be smart enough to realize that their baby, the
most potential in the crypto space might not make it unfortunately.
Despite its brilliance the platform has not expanded at the rate we all thought it would. I blame it to the platform having evolved to a space with a perceived lack of intrinsic fairness in terms of its main bait, rewards.
Coupled with this, having a meaningless reputation system where the present ranking is like a trophy, just for display and not worth much, has rendered it redundant when it could have been the yardstick to measuring a users impact on a post.
As I have mentioned in the post, the reward pool is a creation of the algo and nobody has to contribute to maintain its existence, so why should a users wallet matter in its distribution? Reputation, IMHO, should be "bumped" up from its dormant state now, and it is about time we gave it a thought.
Thank you for your detailed comment.
Yeah I agree that the reputation system should come into play more. Multi-Level Marketing has unbelievable attrition rates. Usually about 75% of the people that were signed up for an MLM don't renew their membership the next year because they wake up and realize that the compensation structures are unworkable. There is unfairness in those systems. Yet people still keep joining them. The difference is that there is a buy in almost always in an MLM. So some money has been brought to the table. With something like Steemit people post once our twice and usually leave because of the unfairness. The droves and droves of people that join MLM aren't knocking at the door because there is no real incentive for people on this platform to try to recruit more people. Why do I want to tell my friends about this when there is a high likely hood that their payout won't be that good?
It is a lot to think about and I don't know all the answers. This is a very interesting system and a very interesting experiment. Only time will tell how successful it will become. The interesting thing now is that there are for sure people who are buying and holding Steem who aren't part of Steemit. With the new economic rules there can be more speculative investors out there. And most of them aren't going to dig down and see these types of posts or really know the struggles of the content creators here. It really doesn't matter to them. So it could get a lot more successful without being a good place to really post. It is very interesting to say the least.