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RE: Should this system for payouts to competition organizers become a standard for all Steemit competitions?
I think you make some good points and maybe I spoke a bit too soon and with an imperfect solution.
Now I'm thinking more, what if the prize is to delegate the SP? And I keep delegating for as long as I keep running the competition?
It does still mean the money eventually comes back to the contest organizer this way, but it also makes the contest more worthwhile for everyone (as well as more work for the organizer).
If you keep rolling over the Steem Power and you might have a bunch of prizes to give away after a while.
What do you think?
delegating the SP sounds like a great idea too... I think I will take that into consideration...
with every round of the contest the delegation portion of the prize grows and is awarded to the winner until the next round ends... while it might be very little in the beginning... it will grow and eventually be the bigger part of the prize...
great idea! this might work!