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RE: Lambos, Beaches, and Mansions?
Do you really think increasing curation reward pool distribution back to 50% is the solution Kevin? I am not so sure. It might be better than what we have now, but we had that before and it came with it's own host of problems.
Still, what we currently have here is trash, and most people knew it would be since before it was implemented. All the issues with broken economics and vote buying were predicted correctly long ago. The economics need fixed, and in short order.
Any rational investors will stay the hell away already if they read any of these posts..
They are staying away. And have. Perhaps the top witnesses should demand changes? Or perhaps they are content just getting huge payouts.
One of them top witness quoted me $12,000 to hire devs to code the changes, with no guarantee that it'll get approved of course. I don't even know what to think about it.
Lol at that. The "top witnesses" are supposed to be the skilled coders who can help build steem right? Plus they are being handed shitloads of steem, perhaps use their boatloads of money to fix the fucking system. But they won't because so few here give one shit about anything other than themselves.
It shouldn't have to all fall on the shoulders of people like you Kevin. You shouldn't be one of the only ones talking sense.
Fascinated to learn this fact from you. Feels like someone is wiping someone else's arse.
whoa! Mind you, from when I looked at the code in the past, there isn't really an "economic engine" in there; affected code is scattered everywhere.
What we have back then and what we have now which one is better?
Many other changes were made besides just the reduction of the curation pool to 25% instead of 50%. The worst change IMO was going to a pure linear relationship between SP and vote strength. It partially solved the issue of small holders feeling like they had no effect on post rewards but opened up pandoras box for vote buying to become the most profitable use of stake.
The answer to your question is neither was better. Both what we used to have and what we have now suck for their own reasons. Figuring out the way forward (which is what kevin is trying to do here) to a better solution is needed. We have plenty of examples from the past of what doesn't work. Lets learn from it.
Youve now mentioned two problems: curation and reward curve. 50% and n^1.3 has been proposed. Yet everyone prefects to sit back and not do anything about a system that's had proven before any reasonable doubt to be a shitfest.
I'm not in favor of doing nothing. Id like to see us try to change things, and iterate more frequently until we arrive at an actual workable economic situation. The status quo is broken.