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RE: Programming Diary #28: Thoughts on the problem of overvaluation
I've thought a lot about overrated content and I've come to the conclusion that it can't be fought. The only way out is to remove the need to publish such nonsense. A fundamental change is needed for investors to receive their returns without having to post. This can be implemented in different ways. For example, there could be an account to which investors would delegate their SP and receive their percentage without publishing posts. You can even set the minimum delegation limit to, say, 100,000 SP.
I agree that it can't be eliminated, but I think it can be fought, and the problem can be reduced. This is why I talked about "adding friction". We can't eliminate it, but we can shift the balance.
This makes sense in concept, but I'm not sure if it's really practical to implement. If investors can receive these rates of returns without posting, nobody would curate. If you lower the rates, then the pollution returns. Definitely something to think about, but there are a lot of implementation details to work out.
Yeah, but delegation is useful for other things, too (like maintaining a cold-ish wallet). Also, it's always possible to just pay for votes, directly. I mean, the bots could even price their votes in BTC or TRX or some external token if they wanted to.
0.00 SBD,
0.46 STEEM,
0.46 SP
Your comments are very valid and emphasize once again that the problem is so complex that it is not so easy to come up with a solution. I think it is necessary to make curation so attractive that there is no need to publish garbage content. For this, you can come up with different solutions. Perhaps it is worth increasing the percentage of payments to curators, perhaps these payments could also be liquid. If we had a consensus that we want to change something and can do it, then this discussion would be much more interesting 🙂
0.00 SBD,
0.46 STEEM,
0.46 SP