It's a cool idea, but it has it's "issues". Whales would be able to power down, power up a new account, and then re-vote for the same content (over and over). Also, the rewards pool is fixed, so over time there would be less and less (as a percentage of the rewards pool) available for new content. That said though, having some form of long-term revenue model would have it's plus sides too. I think a lot more 'big time' content creators would see the value in moving here if there was more potential to earn.
I am still in love with the idea of having an author/creator landing page where we can have a bio, our stats and up to 10 of our favorite posts which we get to highlight. Those 10 posts should have the ability to continue earning. I don't think something like that would hurt the rewards pool at all. I'm also getting feedback on some of the tutorials I wrote like 9 months ago! A little residual income would be awesome.
Hi @merej99 - I haven't heard from you in a while. I've missed seeing your comments :) I totally agree on the bio/profile page part! I do think that there would be a way to balance out the rewards between short-term and long-term posts. The main hurdle is figuring out how to prevent abuse with power down + re-voting over and over. That, and it may make the blockchain memory requirements a lot higher. It would be nice to see some type of solution implemented for "long term content" at some point though.
Did you see how Golos forked in a system where users can pay to keep content active? I'm curious if this will be popular and possibly find it's way over to Steem.
No. If you have a link with details, I'd be interested to learn more. Sounds interesting :)
https://steemit.com/golos/@richman/the-new-golos-hf-0-2-aka-17-18-is-scheduled-for-12-00-00-gmt-29-05-2017
The 4th bullet point in the article explains a bit, although it doesn't seem to have the exact fee set. Perhaps it's a parameter set by witnesses and adjustable over time?
Quick question..Is the rewards pool always fixed? IOW if a million new accounts come on next week, does the rewards pool still remain unchanged?
rewards pool doesn't not expand with more users necessarily but with a higher price. Presumably though, if Steemit exploded in popularity, the price would rise to match.
Ah ok. Understood and thanks.
It changes based on the marketcap. If the price of STEEM goes up, then the rewards pool is bigger. If the price of STEEM goes down, then the rewards pool shrinks. It technically has nothing to do with the number of users, although one would hope that a large increase in the number of users would likely translate into an increase in the price of STEEM :)
Very good. I thought that was basically how it worked, but when I read in your comment "Also, the rewards pool is fixed..." I started to think I must have been mistaken. Thanks for clearing it up for me :) I appreciate it.
Sure. Sorry for the confusing wording :)
Hmm yea, good point. You are always thinkin'...you thinker you..
It'd be bad with the current system, yeah. But I believe we need some kind of advancement that allows long-term revenue. Most posts on any site are most popular when they are new, but still the ability to continuously earn money on the content you create forever is very attractive.
Agreed