RE: Should Steemit Inc Impose Maximum Daily Post Limit in order to Control Reward Pool Rape?
I think your suggestion is appropriate but would probably only shift the problem. The reason folks can rape the rewards pool is twofold.
- They have a LOT of followers/voters
- They have a few VERY wealthy followers/voters
The problem is that anyone can create a post or comment (regardless of quality) AND IF someone with a lot of Steem Power up-votes the post at full power they will recieve a LOT of money, as in hundreds of dollars. I saw one comment that earned ~$345 with just 4 up-votes and 3 were insignificant.
The reason this exists is because the folks who invest a LOT of fiat currency into the Steem platform expect and mostly deserve a return on their investment. If you could accept the risk and had a million $US to invest you could use that money to power up to a level that would allow you to self-vote or up-vote a second account at a rate that would earn far more than a conventional investment. This extra return is due to the extra risk.
That million $US is also what gives the rest of us solvency, i.e. it creates trust in the crypto-currency. NO currency has value unless enough people BELIEVE it does.
So, it's a tricky problem not confined to this platform. The folks with lots of money will always use that power to their advantage. The result is the rest of us get to eat off the crumbs. You know, they give us jobs, etc.
Many, maybe most, of the big investors (stakeholders) are in it for the long term, others are raping the rewards pool in the short term. But just like the fiat currency world while the rich folks do their thing the rest of us get to do ours, like eke out an existence. For this post to have earned $155+ with 40+ votes you know well how the game is played. BE happy, you're one of the successful ones.
this is quite interesting. I am really, really new here, so I am just learning what everything is about. This clearly written comment is helpful! I appreciate it
Thanks, I encourage you to just have fun. Read posts you like, make comments that are honest, and forget about the money part of things. If you have something to post then post it but understand that only your "Followers" will probably see it so don't be discouraged. And now you know why it's important to gain followers.
Very good comment ,your are correct . However the issue is not about people who invested in steem power rather posting 5 to 10+ daily and if imposing posting limit will help solve the issue.
Let's hope it gets fixed!
Finally a voice of reason. Thank you.
When you have a $1k under your mouse click - it is hard to resist and not click on your own content.
Here is another way to think about it.
Imagine that you are using social network and communicating with person who is a billionaire or at least millionaire and this person is really busy. One hour for this person is worth hundreds of thousands of dollars. For most of us it is unfair but for this person it is just a small reward for wasting her time and commenting for you.
I only wish I had a $1k mouse click!
The funny thing is that last year I also only could have dreamed thy my vote is worth more than nothing. I needed few months to increase that number to few bucks. At the beginning it is awesome then you get used to it and now it is even worse - you can not resist on self-voting. 😉
Dream big and do at least something. I'm learning and wish that some day my click would be worth $1k, too. 👊
Here's my 2 cents worth, or is it 3 cents now!
Maybe now. 😀
I do appreciate all random acts of kindness! ;-)
That's the way to do it! 🙌