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RE: HF 19- The Clu$terf*ckening and Unintended Consequences
From any policy we have set so far, I think we have a people problem, not a system problem.
- First, large SP holders should be compensated in some manner for their investment; right now that's through curation
- The curation model rewards users for "pig piling" (LOL at the term!)
- SP holders have a legitimate reason to plan their voting to increase ROI
- Now we are at the question of long term investment in the platform (recruiting more users, and getting good content) versus short term investment (maximizing curation rewards)
- IMHO opinion, the human tendency is towards short term investment
I don't have any solutions to this quandry, and since I unfortunately don't pay a lot of attention to the hamster wheel turning Steemit, I don't know if what I'm going to suggest has already been proposed and vetted:
Cap the curation reward at a % of Steem power per user per vote; each vote returns the same curation reward regardless of the post value.
It removes the incentive to race for rewards or to "pig pile"
Nicely thought out post, it's got me questioning a recent voting decision I made
You say we should reward large SP holders for their investment. They are rewarded by the increase in value of SP, as the platform becomes worth more, just as any investment in stock is.
We should reward the driver of value in the platform, the authors. Cutting them out is like bailing out banks when people turn upside down in their mortgages. If the authors and curators are rewarded for creating the value of the platform, SP holders are rewarded by the increase in value of their SP, just as banks would be by the ability of people to pay their mortgages.
The current incentivization system on Steemit remarkably resembles TARP, in fact. The little people paying the bills aren't getting a piece of the pie. This kills the pie.
For Steemit to be a Facebook killer, we need a simple system that rewards ordinary people making ordinary posts, because that's what will drive them from Facebook. If Steemit doesn't become a Facebook killer, another platform will, because Facebook needs to be killed.
I'd say that some kind of dividend is necessary to keep folks invested in SP to maintain stability of value.
Participation in the platform is more attractive if Steem is $2 instead of $.14
Then we move to the value of content. Obviously, I think my own content is valuable and should be rewarded...but realistically, my interests and message don't hold value for most people.
Ideally, people who create good content would be fairly rewarded as well, but then we have to think of what the readers value, the existence of vote-exchanging, and the fact that good posts can go unnoticed to begin with due to the now nature of Steemit and the number of posts.
There isn't a foolproof system to do this; it requires human judgement.
Other than the dividend you mention, and I am not dismissive at all of this, I agree completely.
I seek to rectify only the matter of equitable distribution of in platform rewards for creating and curating content. All matters of subjective valuation by people have nothing to do with a dichotomy in wealth creating an unfair system.
Steemit, unless it is perceived as fair by people using it, will suffer no potential to slay giants, and any fair competitor will swiftly replace it, unless it fixes that problem.
Your 100% upvotes on your own posts and comments?
I read that but still don't understand the strategy behind it.
Then again, I don't have a slider bar yet either.
Lately I've been having a difficult time finding quality content to upvote, aside form the usual suspects and they don't post every day.
I'm hoping to build my SP at a faster rate by concentrating my vote on my own work
Please post the results.