@steemitwrite You're Right and You're WrongsteemCreated with Sketch.

in #story7 years ago (edited)

Editing for What?

@steemitwrite is partially right. What I mean is that editing is important IF your content is text. If your content is visual, then other editing would apply. Right now the evidence would indicate that the economic model of upvote/curation is driving the maximizing of return on your upvote for authors. The only differentiation; voting tabulation, is time spent to identify wither content should be upvoted. This will put market forces on authors to go where the money is.

Market

  • Curators using the economic model on the Steem Blockchain has a minimal cost, except some loss to voting weight. So the lack of an economic decision on the part of curators is just a matter of time spent to evaluate content, then upvote or not. [whitepaper p.40]

    Steem bypasses micropayments completely because when a user upvotes a post it is the
    community that pays the bill. The same amount of money will be spent whether the user
    upvotes a post or not and the funds will not come from the voter.
    The mental energy associated with making an economic decision becomes a barrier to
    participation for most people.

  • Authors have incentive to maximize the payoff of the content they generate. If the market is driving for fast decisions on wither to upvote or not, then authors will follow the market. [whitepaper p.20]

    The actual distribution will depend upon the voting patterns of users, but we suspect that the vast majority of the rewards will be distributed to the most popular content*. Steem weighs payouts proportional to n^2 the amount of Steem Power voting for a post. In other words, post x would receive a payout proportional to: votes[x]^2 / sum(votes[0…n]^2)

Supporting Evidence

  • Top 5 tags for trending tags show that three tags are mainly images.

  • My poorly executed hypothesis testing to try to get engagement beyond upvotes is telling me that there is very little engagement (not you commentators). Granted this could be because my sample is not correlated to the average voting population.

Conclusion

Curators and authors are caught in a web of locally optimizing payoffs, at the expense of value that could be provided to other niche tags. I believe that tagging is very critical to the success of the social media aspect of the Steem Blockchain. Some solution that maybe worthy of further study are:

  • Remove Tagging
  • Adjust Payoff by Competition of Tagging
  • Segregation of Tagging Payoff
*Eye of the beholder; one man's garbage is another man's treasure. Very subjective.

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