Thoughts about the 50-50 rewards system

in #busy5 years ago (edited)

I don't even know if it's actually going to happen, but let's talk about it.

I think it's good to incentivize people to hold Steem tokens (even though I thought that the fact one can delegate, earn passive income, earn curation and make instant transactions with zero fees was enough of an incentive for people to invest in this blockchain). So yeah, if you ask me.

I think we are going to lose some quality content creators, because not much is going to change in regard to the voting behaviour of powerful users. Curation rewards will be higher regardless of what they choose to vote for, so most of them will keep upvoting their trails and buddies and life goes on. No real need to change the way all those autovotes are distributed. So no, if you ask me.

I think the fact that one can get 50% of their upvote value back might actually make some whales cast a few votes here and there. And probably convince people to buy and power up. So yeah, if you ask me.

Self voting is far more profitable for stakeholders with millions or hundreds of thousands of SP, so why would they even bother curating new users? As if they ever did. Alright, there are a few exceptions. So no, if you ask me.

This place will be more fun and people will stop thinking about it twice before hitting that post button. So yeah, if you ask me.

Curators need incentives, but so do authors. If nobody is willing to produce quality content, what are the whales going to curate? Memes and youtube links? Are you ready for a feed full of microposts that make 100$ each? Just imagine what a stranger would think if they ever visited this place and saw something like that. Not the kind of marketing we need right now. So no, if you ask me.

I've been around for more than two years, and I have built up my account without any powerful individual's help nor support. Content creation, communities and hard work got me where I am at. Steemstem and Utopian did it for me. I've been watching the same whales supporting the same authors blindly over and over again. It was never about content to them. Now I understand it was all about curation. So yeah, if you ask me.

I've been moderating for Utopian, and I've met some extremely talented and dedicated authors making a living from their blogging activities, and providing quality material for readers. This sort of activity adds value to the entire ecosystem, giving people the ability to make ends meet on Steem, which is the kind of marketing we need right now. I'm afraid most of them will stop contributing. So no, if you ask me.

Are things going to change with the new system in place? I don't know. Are people going to change their voting behaviour? I highly doubt that. Is it the right move to make? I am not sure, as you have probably realized by now.

I'd love to know your thoughts.

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Well looking at the top authors you might think that it might be a good thing:

@regularowl cookievotes

-> https://steemit.com/dpoll/@enforcer48/how-will-the-eip-affect-top-authors

But what about the newbies? They're already struggling to build up their accounts.

The economic equilibrium will probably change with the new reward system. So it is a bit hard to say how it will affect newbies. You could argue that it is going to be positive since newbies are unlikely to get flagged in the new subsidized flag-pool system or you could argue that self-votes are going to outweigh the flags. It is bit hard to make an educated guess.

man, im just now trying to learn the system and now its about to change? lol !

The EIP will likely only cause minor changes to the distribution of tokens. In what way? We will find out when it is implemented.

Personally, I think the proposal system is more of an imperative at this time.

Agreed, only if it's implemented will we find out.


The owls were called by @mathowl

What a beautifowl creature xD

The rich will get richer @lordneroo as I would soon see here.
#no5050

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So I guess you're 50-50 on this 😄

But somehow your negatives seem to outweigh your positives, at least by word count and subjective feel.

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