Steemit
A Letter To The Top 20 Witnesses
Hi!
This letter will be sent to Ned Scott, Steemit Inc's CEO and all top 20 witnesses. I'll publish this letter and your answers in the coming 72 hours.
I'm writing with the humble pursuit of improving Steem. I'll ask you 2 questions about linear rewards and provide my thoughts on the subject.
"If every voter defects by voting for themselves then no currency will end up distributed and the currency as a whole will fail to gain network effect."
It then argues:
"In order to realign incentives and discourage individuals from simply voting for themselves, money must be distributed in a nonlinear manner."
- Do you agree with this statement?
- If not, can you provide a refutation? (Preferably, one made public prior to the implementation of linear reward.)
The whitepaper's full argument is linked below.
Explanations
Ever since I've first read the Steem Whitepaper in April 2016, I've been intrigued as to why nonlinear rewards had been chosen. (As an aside, why less than 2 as an exponent wasn't chosen was partially explained in one of
Steemit Inc Argues Against Linear Rewards
The last time Steemit Inc meaningfully argued for or against linear rewards, they've argued against linear rewards. Here's what the