RE: Witness consensus status to fix the actual steem’s economic flows (ENG)

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smooth (70)in #witness-category • 5 years ago (edited)

Changing from 75/25 to 50/50 does NOT (re)move 50% of author rewards, it is 33%.

5 years ago in #witness-category by smooth (70)

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fyrstikken (75) 5 years ago

A 1 Dollar Post
50 cent to Author
50 cent to Voter

Is that correct, @smooth?

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smooth (70) 5 years ago

That is the proposal described in the post, yes.

The status quo is 75 to author 25 to voter.

So this represents a shift of

75->50 for author
25->50 for voter.

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fyrstikken (75) 5 years ago

Good, then that is crystal clear.

OK @smooth, let us say that we hypothetically go for that solution, with all due respect;

How would you/me/we sell that 50/50 change to the bloggers without experience a networkwide Ramascream from our content creators?

Would we not be labelled as greedy soulless capitalists by the bystanders and the little users which are in the people majority?

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smooth (70) 5 years ago (edited)

The sales pitch is

Curation is broken. A too-large and increasing portion of the reward pool is going to self votes and paid votes that bear little to no relation to quality or value brought to Steem
As a dedicated quality contributor this is hurting you.
By making a set of changes, including (but not limited to) changing from a 75/25 to a 50/50 allocation between posters and voters, we are attempting to shift the economic incentives away from this sort of self- and paid-voting and toward curating on the basis of a high quality, high value contributions as determined by a system better turned to measure stakeholder consensus (as opposed to unilaterally-decided self votes and/or paid votes)
As a dedicated quality contributor this would likely benefit you.
Can we promise that the 33% decrease in gross rewards will be made up for by a combinations of a) A larger share of rewards going to your quality contributions; and b) Growing the value of Steem thereby increasing the entire reward pool (including your share)? No! We can not guarantee this but we think it is a very plausible outcome.
We also believe that doing nothing and continuing the failure of its premiere feature (stakeholder/voter-allocated rewards used to promote growth) will likely result in Steem continuing to stagnate, and likely continuing to decline in value. Your rewards will decline with it.
Please support this initiative for the benefit of the entire Steem community, including you.

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fyrstikken (75) 5 years ago (edited)

Alright, let me try.

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