Steem HF19 Discussion Overview

in #summary8 years ago (edited)

Get ready for 10 votes a day! Steem hard fork 19 is announced for June 20 2017, that's Tuesday.
Since I'm on Steemit regularly, I've also become interested in the technology behind Steem. So far, I have not been able to find any positive posts about the HF19. I think all posts are remarkably constructive.

The HF19 is not so difficult to understand at first. 10 votes @ 100% will leave you with 81.7%, 40 votes @ 100% will leave you with 44.6%. Voting power always takes 5 days to replenish, but the closer it gets to 100%, the slower it goes.
Edit
@liberosist states in the discussion below

Voting power regenerates at a constant 20% per day or 0.833% per hour.

On the other hand, your 100% vote will be four times as strong after tuesday. How are we going to vote after HF19? We just have to try and see I suppose.


@timcliff says:
There is complex math that is over my head, and here are unpredictable changes in user behavior that could make things go either way. his post

The whales can decide to vote 40 times a day at 25% or 10 times a day at 100%. It still means that just a few post get most money out the daily reward pool. It's totally understandable that this will happen because these investors want to make money. What can they do?



@aggroed says::
Right now curation is dominated by a handful of posts with huge rewards. It's often the same people making the same huge rewards. It seems like the big guys are all helping out the same people and so those posts get huge. It turns out that's not only good for the author, but it also helps maximize curation gains for the whales. (Don't hate the big authors hate the game) his post

I noticed that too. I am happy for them but it is very bad. People who are new to Steem will soon give up because there will be insufficient results. Of course there will be changes, but it will go very slowly. Only new talents will show up occasionally. Bloggers who have a lot of publicity will not soon give that up for Steemit or Busy etc.



@calamus056 says::
-If the system doesn't recognize and keep track of the user's curation skill, it's possible for bad actors with a lot of money to abuse the system.
-The second main problem is that people are forced to vote out of fear, because they simply aren't given any time to curate properly.
-The third main problem is that holding STEEM POWER gives you power and control rather than a long-term investment opportunity. his post

I think he summarizes it very well in his conclusion. Maybe implementing a quality parameter? One for voting and one for posting. Let Steem Blockchain first determine which conditions an article should meet.



@transisto says:
I thus recommend voting power change to be lowered to 2x max or postponed for when we have evaluated the usage pattern brought by a flat curve and a more functional UI on steemit.com. One that does not encourage groupthink though a prominent trending page but give comprehensive access to less popular content. his post

I think HF19 is a die-hard hardfork. This hardfork is so rigorous. I think that a decision has been made too soon for this change.



@dzone says:
Das wird zum Einen dazu führen, dass die kleinen Accounts Kommentare nicht mehr voten, weil sie beim Voten von Posts schlicht mehr zurückbekommen.
Damit erlahmt mit Sicherheit auch das Interesse am Lesen und Kommentieren von Posts, während das Interesse am automatischen Voten steigen wird. his post

He mentions something interesting about reading and commenting. It will cause small accounts to stop voting on comments Because that does not yield anything. As a result, less will be read and commented, and automatic voting will increase.



@benjust123 says
Infact 79 out of the top 200 are withdrawing upto $5 million in total. Now that is a lot considering you are talking about only less than one hundred significant individuals. his post

It is true that a lot of whales are powering down. I do not know if that is normal. You can take a look at it yourself Steemdown.com


Thanks for reading


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@steemspoker Pretty interesting overview. You got my username wrong though ;)

Thanks @calamus056
I will fix it instantly

Another fix: 10 votes @ 100% will leave you with 81.7%, 40 votes @ 100% will leave you with 44.6%. Voting power always takes 5 days to replenish, but the closer it gets to 100%, the slower it goes.

Voting power regenerates at a constant 20% per day or 0.833% per hour.

When did that change? Got any source so i can read up? I guess i'm still on the algorithm from a year ago then ;)

I've looked through all GitHub releases, it's not mentioned anywhere that they changed the voting power recharging algorithm.

The FAQ indeed says 20% every day, could they be wrong in the FAQ?

The documentation is pretty incomplete. Either way, the rate is a constant 0.833% per hour, you can verify this yourself.

True, i will :)

True, I took it wide. I know what you write, but have taken a bit looser for this article. I will make this change as well. Thanks sir!

The formula is extremely easy BTW:

New voting power = current voting power * 0.98^[amount of votes @ full power]

(^ means "to the power of")

Kind of you to explain. I think I got this.

It's the same formula you can use for calculating compounding interest.

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