RE: Proof of Consent of Participants and the Danger Click-bait F'U Posts.
[replying to your later reply]
I may as well ask one last thing-The following was a response to a post someone had awhile back, would you say it was a lie, a myth, or inaccurate?::
It was somewhat accurate, but there are a lot of details to work through:
Non paying posts that have a bunch of votes aren't non paying because there aren't enough votes, theyre non paying because the huge amount of votes behind the top paying, whale supported posts devalue votes.
Actually it is both. If there were no posts with a lot of votes, and every post got just one minnow vote, then every post would indeed receive a reward, I believe somewhere in the neighborhood of $3 currently (rough estimate). However, this is completely unrealistic. In practice if you downvote some high-paying posts like Steemsports, nearly all of those rewards are just going to flow to the other high-paying posts. There has never been a time in the history of Steemit when there weren't high-paying posts (though they have sure varied over time!) and there almost certainly never will be.
The low-voted posts will always have to compete with some high paying posts gaining most of the reward pool; that is the design of the system.
Of course this is never going to happen, because overpaid authors here who get paid mainly for poor quality posts created a myth that there are rules about when you're allowed to downvote.... and they enforced that myth by threatening reprisals to anyone who voted in a way that they don't agree with.
I don't personally disagree with downvoting high paying posts if you think they are overrewarded (and I have done so, including this one), just recognize that you are giving the rewards mostly to other high-voted posts (possibly at a slightly lower tier of high-voted, if all the highest-voted posts were downvoted), not to the posts with one or two minnow votes.
Even a post with just a single whale vote (say 1 million SP) will earn 100 million times as much as a post with a single minnow vote (say 100 SP). There is just no way that those low voted posts are ever going to earn a significant (if any) reward, regardless of what specifically happens at the top. That part is a myth. The system just isn't designed for people with low SP to be able to vote themselves any reward. It takes many small votes or a smaller number of large votes to do it.
she was actually quoting me, from a reply to a post about using some baseline amount of guaranteed votes for every post to create a universal basic income on steemit.
My point was that, because of quadratic weighting, if you added X steem power in votes to every single post, it would increase payout disparity, because that X steem power would give more vshares (and therefore more money) to high paid posts. That is to say that you would be giving X vshares to every low paying post, but you would be raising the threshold for how many Vshares it takes to get paid by some number greater than X.
Im not saying that there is any good way to distribute out money to every single post on steemit (or even that it is desirable) but if that is what youre trying to do, for a fixed amount of voting power, the most effective strategy is to downvote many high paying posts, rather than upvote many non-paying posts.
Replying here due to nesting
I don't necessarily agree that its irrelevant. For example, in your example, another minnow with 100sp might want to decrease that disparity. His vote would be infinitesimal either way, but it would have 6000 times the effect if he downvoted the 1m post than if he upvoted the 100 post.
idk about UBI, but i do believe that a wide spread acceptance of the downvote as a valid means of redress for overvalued posts is the only way to get there with a feasible amount of steem power.
especially if it was big dolphins or little whales doing it, it could have a big impact.
I actually was origninally going to post a somewhat detailed model of the math here, but it was so long i made it into an OP.
https://steemit.com/til/@sigmajin/til-the-best-strategy-for-reducing-rewards-disparity-in-defense-of-the-flag-part-i
@sigmajin
On the narrow mathematical point that it is strictly speaking more effective at approaching a basic income by some infinitesimal and practically irrelevant amount, I agree. Unfortunately it is easy for people who are not so mathematically inclined to misinterpret statements like this and think they have some practical significance when they really do not.
Okay, that makes sense. I'm not even sure why people are crying unfair, this wasn't designed to be a socialist economy. Everyone keeps talking about quality of content, but that's all a matter of perspective.