#NO5050 Post
Earlier today @streetstyle made a post encouraging others to voice their opposition to the proposed 50/50 rewards split between creators and curators.
I don't see how switching to a 50/50 split will be good for Steem. How will it encourage authors to produce more content if they're going to get less of the reward for making the content? The value in Steem are the people who are writing posts on which others can comment and vote. If there are no posts, there are no rewards moving around.
When someone writes a newspaper article or even a post for the blog on their website, the author is the one who gets paid. After all, they're the one who did the work. People don't get paid for reading the articles, they get paid for writing them.
The people this will help the most are those who are already self-voting (it won't change anything) and those who have a lot of SP and don't write many articles (they'll see a 100% increase in their curation rewards).
The people this will hurt the most are: those who don't have much SP, those who generate most of their rewards by writing content, and those are just joining (thereby falling into both of the other two groups).
- What are your thoughts?
- Am I missing something?
- Can anyone explain how this will encourage content creation?
- Can anyone explain how this will boost smaller accounts and encourage the onboarding of prospective Steemians?
Maybe it will help and encourage new users. Those little puppet accounts that have nothing, can now post a picture and 6 words or so, and be manually curated by a whale, after all this is suppose to make curation more profitable. I sometimes have a hard time voting my 20-25 daily votes, I imagine for a whale it must be hard to find enough votes to lower their Vote Power by 10% so their vote bucket doesn't keep overflowing and earning nothing.
Possibly. I don't see myself changing voting habits as a result. It will be interesting to see if whales start seeking out new posts because they'll be compensated more for the vote they give.
At 50,000 SP today that is about a $0.96 vote at 100% power. I think most people will live with that on a post. So not to difficult to get those 20 or so votes voted so a person is not sitting on 100% vote power over night earning nada. I forget how much SP a whale has but for someone sitting on 500,000 SP giving out ten dollar votes to a post may attract flags, er I mean down votes.
The other part of the EIP is the downvote pool.
Like I said some days it is hard to get myself down to the 88% vote power before going to sleep. I can not imagine trying to cast a sufficient amount of votes as a whale at a reasonable value to get to the 88% level so as not to have their vote power at 100% while they sleep. That would be a lot of votes, So like you I really do not see vote habits changing.
I don't think incentivizing downvoting is going to help things either. If a person is new to the blockchain and is expecting to get rewards, it's going to be tough to deal with getting flagged while they're already getting such low rewards.
Both of these changes seem like they're taking us in the wrong direction.