RE: Why 5 Votes and the Vote Bar is GOOD for Steemit!
Thanks for the write-up. I've been trying to understand this change and weigh the pros and cons. There have been a lot of 'cons' posts/comments, so its nice to hear the other side.
The main argument that I see against the change, is it will incentivize users to vote less. I can see truth to this. Rather than search out a lot of good posts for curation rewards, it is better to just find 5 posts that will do well and just vote on those.
I agree with @dantheman's comment though:
This is a very poorly understood change.
A lot of people are treating this as "you only get 5 votes". No. As you pointed out in your post, you only get 5 votes if you use your maximum voting power. You can still vote on 40 posts like you do today, if your lower your voting percentage for each of the votes.
In my opinion we are not really going to be able to tell if this is a good or bad change until after it is implemented and we see how users change their voting behavior, and the payouts change. Right now there is just a lot of speculation.
right. So, for example if I as a big minnow (small dolphin whatever) have a vote worth 4 cents that i can use 40 times rightnow, under the new system, i can still vote 40 times, but only at significantly decreased power, so each o f my votes would b e worth less than 1 cent.
Or i can vote my full 4 cents 5 times.
At the end of the day, the effect is the same. I had $1.60 worth of infulence, and now i have $.20 worth of influence.
I don't think that is the correct understanding.