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RE: Bounty 20 Steem: Should we fix SBD?

in #sbd • 7 years ago (edited)

This is in the whitepaper (page 27):

So yes, anyone can earn rewards by posting content, but voters are needed too, and you need many votes per post (on average) to achieve effective curation. High SBD prices tip the balance in the opposite direction, reducing the relative value of voting, since curation rewards are paid in SP.

And yes, if I understand you, I agree with your second point. SBDs were designed with one purpose in mind, to have a stable value. If they're not doing that, then they are failing.

7 years ago in #sbd by
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     7 years ago (edited)

    The whitepaper also has 52+ week power downs and exponential whale voting.

    The repeated appeals to it are fallacious appeals to authority.

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    • Past Payouts $0.05, 0.00 TRX
    • - Author $0.04, 0.00 TRX
    • - Curators $0.01, 0.00 TRX
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     7 years ago (edited)

    The whitepaper also has 52+ week power downs and exponential whale voting.

    Actually, it doesn't. The copy I pulled that from was rewritten last year to match the current state of the block chain. The link is here - https://steem.io/SteemWhitePaper.pdf

    And it says:

    Users are able to commit their STEEM to a thirteen week vesting schedule, providing them with additional benefits within the platform. STEEM that has been committed to a thirteen week vesting schedule is called Steem Power (SP).

    And

    When users vote on content, their influence over the distribution of the rewards pool is directly proportional to the amount of SP that they have.

    And even if it had been obsolete, that wouldn't change the thrust of my comment which is that high SBD prices incentivize authors at the expense of voters and other stakeholders in a way that discourages quality content discovery.

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