RE: Make Steemit Great Again: Fork This Place!
he reverse auction is there so we don't waste curation dollars on on obvious winners
Makes sense. I noticed when i was looking at curation rewards before that many of the "obvious winners" only get 5-7% in rewards.
The problem with giving it to curators on other posts is which other posts? If you split it up equally according to post payout, then it will mostly just go back to the biggest posts where its lost. If you only give it to posts with little money lost to the reverse auctions (that is to say, don't give it to the sure winners), then youll give a guaranteed payday to anyone voting on a non-voted (or low voted) post after 30 minutes.
That is to say, if a non-voted post has no votes after 30 minutes, its already a guaranteed 25% of however much your vote is worth by itself (which is a potential vector of abuse for whales anyway). But if its not just 25% of what your vote is worth by itself, but some share of a pretty significant RA redistribution pool, then there's even more.
Also, there is nothing stopping wang 30 (or any other bot) from just voting on everything with no rewards precisely at 30 minutes.
Essentially every new post would be eligible, subject to its own reverse auction. Same as now, only more curation rewards.
Well, roughly speaking, your last point is exactly the magic of it. It's designed to make good strategies self-defeating. If any of this ever creates a guaranteed payday, then people will start competing for that payday in the reverse auction and the payday will vanish. Just like the reverse auction currently takes away curation rewards from sure winners.
You're right, the exact details would have to be thought out well to make sure the redistribution works correctly. But notice that even the "vote every un-voted post after 30 minutes" strategy is essentially self-defeating, because if everybody did that on every post, their votes would all cancel out.
I haven't completely thhought it through like that, but my feeling is that it would create a giant snowball of reverse auction funds that get re re re re reversed but never awarded.
EDIT -- no it wouldn't, but it wouldn't change anything at all either. You would eventually get to the point where the curation rewards were increased in magnitude to the full 25%, but were distributed in exactly the same proportions as now.
So if we lost 50% of curation rewards now, it would just double all current awards.... which isnt necessarily bad.
Nesting limit.
Heh, that would be interesting. Maybe you'd need a relief valve to prevent overflows. Or, to increase the complexity even more (because KISS matters so much to these people), set it up dynamically so that the fuller the curation pool, the lower the curation/author split gets, essentially to push the unused curation rewards back into the author pool.
nah its not necessary, it would eventually reach equilibrium.
so like if you started at 10000, and lost 5K to the reverse auction, the numbers would look like
10000 -5k carried over
15000 - 7.5k carried over
17500 -- 8750 carried over
18750 -- 9375 carried over
19375 -- 19687 carried over.
it would approach 20K but i think never quite get there.
KISS is a dumb idea. Some problems just don't lend themselves to simple solutions.