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RE: Proposing Steem Equality 0.19.0 as the Next Fork
Linear Rewards
We want to move forward with changing all content rewards to a linear reward curve. This had been suggested by multiple people and through our research we agree that this is the best choice to grow the Steem community into the future.
This is a very major change to be proposing without a rationale that addresses the reasons for a super-linear curve in the first place.
You mention research. Please answer the 'why?'
I agree to a point. However there have been numerous discussions about it in other posts by steemitblog, abit and others. Agree it would be helpful for steemitblog to summarize in the context of this proposal.
The previous @steemitblog post about making changes to the non-linear reward curve made the case that linear was not a good idea. https://steemit.com/steem/@steemitblog/details-on-proposed-comment-reward-curve
So I'm still waiting to hear why it is.
Good point. I can't speak for the but I can say that the numerous discussions that followed that proposal pointed out various problems with the idea of a modified linear curve. It may be that the problems they were attempting to solve with that approach were not worth the additional problems introduced by it, as well as some problems which even a modified linear curve does not solve (in terms of the latter I would identify influence for smaller stakeholders remaining very small). But I can't speak for them, perhaps they should just explain better.
I totally agree with you @pfunk on this one. I thought it was odd when I saw this announcement without the reason why Steemit inc was previously hesitating to implement a linear reward curve. It's a good thing you asked.
I'm with you. I definitely would want to know all the ramifiactions before making such a large change. A more linear rewards curve sounds good, especially to those of us who aren't big yet. However, I'm wondering if it wouldn't come with unintended consequences. I would love to see the current rewards structure fully explained, and then compared item by item with the proposed new rewards structure.
Currently, voting shares compound on whatever gets voted on. The voting shares on a post or comment are squared with themselves so that the effect is greater than the sum of the individual votes. This has a rationale that is explained in the (now somewhat outdated) white paper. To propose purely linear rewards without stopping to address the reasoning is an oversight.
That would be an oversight. OK, so how much my vote adds to a post is basically the amount it would add (whatever that is) squared. But if I'm remembering my math correctly, the square of an entire sum of numbers isn't the same as the sum of each individual number squared, so I guess there isn't going to be one consistent amount that a given user upvote will add to any post, is there?
With the current reward curve, correct. Your vote could have a $0.01 impact if you vote first on a new post, but if that post reaches $100, the same vote would have a >1 cent impact.
With a linear system, whatever your vote adds to a post won't be static, because there is still the whole reward pool to be distributed according to votes. But it will be much closer to static.
Static is good for tracking purposes, but I see how it could be problematic for other aspects. I hope that all these factors are being looked at closely before making any major changes in the rewards structure. Thanks for the clarification.