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RE: What if STEEM POWER wouldn't increase your power?

in #steemit4 years ago

I'd like to keep this conversation going with the devs in the community.

How do you reconcile:

Having more STEEM POWER increases your absolute curation rewards

with

STEEM POWER doesn't impact your stake in the reward pool

What do you mean by "stake in reward pool"?

If someone earns more Steem by curating, that money can be used to buy influence. If they get more money paid out because they own more Steem Power, then they get more influence because they have more Steem Power.

Maybe I've got things confused.

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If you curate well you will gain influence. If you curate worse, you will lose influence. So only contributing to the network rewards you, you could never buy influence.

An example of absolute earnings: if someone with 1 million dollars earns 1%, that would be $10,000. If someone with $1000 earns 1%, that would be $10. So the more you invest, the higher your absolute profit, but you both receive the same relative profit (in percentage).

Stake in the reward pool means the percentage of the reward pool you control. Every day STEEM is created and gets distributed by STEEM POWER holders (us). Right now the more you have, the higher percentage of the reward pool you control (the higher your influence).

Hope this clears it up a little. If not, keep asking :)

What I mean is, what would be the difference exactly? If you have both direct investment and curation for money based on what was previously invested, then that's the way Steem already operates isn't it?

The one thing I find that you would have removed is self upvoting I guess.

Perhaps though, there is currently money given directly out of the pool that I don't know about and that's what you're trying to shut down?

Thanks for answering questions.

The difference is that in my proposal STEEM POWER doesn't influence your stake in the reward pool. So effectively with 1 million SP you still have the same upvote power as someone with 1 SP (at least by default). The way to increase that influence is to curate well. Curation rewards are amplified by SP, influence isn't. Does that clarify it?

Ah I see. That made it a whole lot clearer. But then having many sockpuppet accounts might make more sense if I wanted to have more vote influence. I might still use the money I make to buy votes even.

Multi-accounting is indeed one of the biggest problems right now and i don't know if we can solve it without solving the identity problem.

My proposed implementation does already counter it somewhat by requiring a proper curation strategy to increase influence. So if you are bad at curating all your accounts go way down in influence. But yeah it's not even close to perfect.

P.S.: Do you know why @good-karma and 7 others voted on your comment?

Good point.

Yes, it's not because my comment was so damn good lol it's encouragement votes for using the eSteem app. 😃

WTF? Do you get free money from that botnet if you use that app?

Yep 100% if you make longer and coherent comments. I'm surprised so few have caught on to it. (Ofc I'm mostly not on my phone, so I don't always get votes)

ChainBB has users upvoting comments too. Busy not so far. It's been very publicly announced, so no secret.

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