End the Early Voting Penalty on Low Earning Posts

8 months ago
55 in steemit

Early Voting Penalty

If you vote early on a post your curation reward will be cut, from 100% at 0 minutes to 0% at 30 minutes.

The Problem

There is something that has been bothering me about this though, and that is that while this works fine for high earning posts, it does not work for low earning posts.

If you are voting on a low earning post, a post of an author who is not popular for example, then the optimal strategy is to vote after 30 minutes. There is no benefit in voting early, i.e. before others, because there are unlikely to be many others. Voting early just makes you lose part of your curation reward.

I've caught myself waiting to vote on some posts for this reason, and sometimes unfortunately forgetting to come back to vote. I am probably not the only one whom this has happened to. People waiting with voting also reduces a post's velocity, i.e. it acquires votes more slowly, making it look less successful than it is.

Suggestion

My suggestion is to make the early voting reward penalty dependent on the rewards a post has collected at 30 minutes. As follows for example:

  • All posts with $10 or less reward at 30 min will result in no reward penalty at all for early voters.
  • All posts with $50 or more reward at 30 min will result in the current reward penalty (i.e. the way it is now).
  • All posts with between $10 and $50 in rewards will result in a percentage of the current reward penalty. With that percentage going linearly from 0% at $10 to 100% at $50.

Of course the limits of $10 and $50 could also be $5 and $25 or $10 and $100 for instance.


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60
  ·  8 months ago

Thanks for this info. Did not know about this time importance. What is the curation reward? If I vote a content, as a up voter , I get % of the money?

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55
  ·  8 months ago

25% of a post's rewards gets paid out to curators based on how early they voted, if you vote before others you get more, but if you vote in the first 30 minutes you lose part of your curation reward.

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65
  ·  8 months ago

To clarify, you lose it to the author of the content. It doesn't vanish, it's paid to the author, so as an author you'd want to see lots of upvotes, early.

63
  ·  8 months ago

@ottodv I agree, the early voting penalty needs to be removed altogether. I don't have time to sit around and wait for 30 minutes to vote at the proper time for maximum potential.

68
  ·  8 months ago

I think its stopping members from voting on new posts meaning they slip away unnoticed. I think thru should scrap it or at least change it :)

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55
  ·  8 months ago

Yes, that's exactly the problem with the current setup.

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68
  ·  8 months ago

Fingers crossed they do something about it :)

74
  ·  8 months ago

I like the idea:)

56
  ·  8 months ago

I think the early voting penalty should just go away period. It was meant to penalize bots, but they all just upvote within a minute of a post now and still group to the few people who are populate. Anyone hoping to get a curation reward behind the bots gets very little since the first voters get higher rewards... effectively the bots are preventing everyone from getting much out of curation.

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55
  ·  8 months ago

On posts by popular authors it does indeed look like that.

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63
  ·  8 months ago

I agree 110% with this assessment of the situation. The early voting penalty is counterproductive at best and needs to be done away with altogether.