Thoughts on 50/50 Curation Split

in #steem5 years ago

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I was reading @theycallmedan's post or listening to rather, about curation on Steem. As some of you probably know right now we have ~75% going to authors and ~25% going to curators. Making this split 50/50 is something that's come up from time to time with mixed support.

What I think I see as a common thread is that low SP holders don't like the idea and high SP holders like the idea. I think the rationale behind this is simple.

If you don't have very much SP you earn most of your Steem by Authoring posts. A policy that will take another 25% of your earnings doesn't sound great. The counter to that opinion is that more people will curate since it will be more profitable to curate and large SP holders would be more likely to delegate to curation groups like @curie instead of delegating to bidbots.

A point that @theycallmedan made was that he could get 4x more roi by delegating to a bidbot vs manual/semi-manual curation(which is what he does now, thanks for that btw) but as he accurately puts it, this is charity, and the vast majority of people are going to want to maximize profits.

So here's my opinion on the situation and an idea for a solution that works for everyone. I think that for high SP holders this seems like an obvious move and good idea, but I don't think it would be across the board. It's a big assumption that *everyone would curate more if this were enacted. I think that a lot of the Whale and Orca class probably would, but in terms of the entire userbase that is a very small amount of people. As we grow this gap will become even wider.

When a user first gets on Steem and is just trying things out authoring, curating etc. They won't earn anything on curation, because their vote is pretty much worthless. Their potential to earn, their best chance at maximizing profits is to author posts or comments.

Once you have a large stake, you can't possibly curate enough as a human being to not be throwing money away so your potential for profit maximization is through constant(automated) curation and the best solution for that is currently bidbots.

My proposed solution is that we make curation work best for different level stakeholders. The more of a stake you have, the more you can earn via curation, so you should.

What that would look like is that your curation return is varied based on your stake. So lets say someone has less than 100SP I'd say that person maybe gets 85% of their author reward so that they can earn their stake as fast as possible. Once they have 100 it goes to 75/25. Once they have 500 it goes 70/30, once they have 5000 it goes 60/40, and once they have 50000+ it's 50/50. The numbers I'm throwing out are arbitrary, but you get the idea.

This way we can give people starting out a boost to get them into the system and feeling like they matter, and the whales can maximize their profits as well as supporting the new talent on the site.

The reason I think this is a better alternative is because I think the future of Steem is not everyone getting curated by whales and curation groups, it's curation among peers, basically a strong middle class. As people move up the ladder they will transition from being a "worker" authoring as a primary means of earning to "investor" curating being their primary means of earning. I think this creates an organic path of growth on the system and would benefit everyone.

What do you all think? Let's chat in the comments! :)

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First of all thanks for nice words of curie.
Howver even in half sleep (my current state), I can see some flaws in your model.
We all know about geouping of people with similar social status, that is generally a case on Steem too. Now what you propose now with different A/C rewards ratio... Even if it is possible to implement it somehow would further split social classes (or fish names) why? Simply because whales will have (50/50) but when they vote on a new user they will get maximum 15% of CR... In this case they would opt for the rest of the 35% and keep voting high class. Don't want to lose my sleep, but I hope you get my point. :)
Cheers!

I do get your point and this is something I thought about. The reason I don't think this would be an issue is because whales are already not voting on plankton or minnows. The situation only has the potential to get better on that front.

And nobody on the platform even pays attention to curation rewards until they have several thousand SP so the bulk of the curation for that class will still be among that class and the class directly above/below.

Now why would a whale or curation group currently upvote a plankton/minnow? It would be on merit/quality, nobody is now or would under this new system upvote this class for profit. There is no profit to be made there, it would be on the actual quality of their work. That's why I think this would be better. Get some rest :) Thanks for commenting.

I kind of very vaguely remember hearing that it used to be 50/50 but then got changed to 75/25.

Personally if I was only curating I would actually strongly prefer most of the payout go to the person that did the work, and the kickback is nice as you can then earn while just curating as well. But that's me and my weird preferences.

Not sure if it was ever 50/50, but yea, I'd say you're probably in the minority there. Most people want to have fun and interact, but also maximize their profits, especially the largest stake holders. Money makes money and if you have a large amount of money sitting somewhere, you want it to be earning you money or else you're just wasting the potential of it.

But yea, what I'm suggesting would give most of the payout to the little guys so that they can grow faster.

I believe that the only reason that you have two different options is to help new steem members like me to grow faster.
New users have limited RC and they run low fast. The only option for us to grow is to write good posts and get 100% rewards as SP. We dont benefit from a 50/50 reward. We dont have a real use of SBD or steem. We get them to convert them to SP but we have to spend RC to do the conversion. There is no point to sell SBD/Steem for BTC or altcoin because they worth nothing at this point. Getting 100% rewards as SP helps you to have a more valuable and stronger vote and it is also helps you to have a larger RC pool.

The 50/50 reward is good for your posts after you get to the point that your vote counts and you have enought SP to earn curation rewards. its not 100 SBD because propably they want to protect the steem blockchain. Thats why when you are trying to convert SP to steem (Power Down) you get 1/13 every week and it takes 13 weeks to complete. To protect the blockchain.

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You're misunderstanding. The 50/50 I'm referring to is not the post payout distribution. Currently when someone upvotes you, you only get 75% of the value from that upvote, the other 25% goes back to the person that upvoted you as an incentive to vote for people.

But some people want that split to be 50/50. So if I had a .10 Steem upvote, and I voted for you, you'd get .05 and I'd get .05.

Damn me. There are a lot of numbers. 50/50, 100% , 75/25 when you this or when you do that. Sorry for the misunderstanding.

No problem, it's confusing. That's part of the problem too. :)

This would actually make worse for lower sp holder. Nobody will vote for 85/15, 75/25 split authors if there is an option to vote for 50/50.

The whole point of making it 50/50 is to incentivize people to give out votes. I can see much of passive income delegated to bidbots, use of smartsteem, self-votes, etc being diverted to organic voting.

I genuinely think 50/50 will benefit authors most. 50% of $10 is better than 75% of $1.

Moreover, most people are not bloggers. The majority are content consumers. Creating incentives to consume content could bring more people in and invest in sp.

I think currently and under this system when a larger SP holder is voting for a plankton/minnow it is about the quality of their content, not for profit. New users are not going to have predictably high payouts and those are the people that, if you're curating for maximization of profits, you'd look for.

So the bulk of curation for low SP holders now and in the future will be from users in and around that class, with a little sprinkle from above from time to time. This situation can only get better from here because currently almost all whales just delegate to bidbots.

I won't focus on the math since, as you say, your numbers are just an example... but overall that seems like a good idea and a nice way to move forward!

Personally, I never used bidbots and I prefer to do manual curation myself. More, when I vote for a post I might not have the time to read it but I will add it to the bookmark list and try replying it before the week is over (as I'm doing now.)

I know that this is not the most profitable way of using my SP, but I don't care. I'd rather build a network of people with content I like than to sell my votes upvoting for stuff I might even oppose to.

Thanks for your thoughts on the matter, @midlet!

No problem @trincowski :) You're definitely not alone. A lot of people are like you and I think that's why this would work better. There are people here that are basically investors, and their goal is to maximize their returns. Those people can do a lot of good with the right incentives, but there are also regular users that just want to blog and network and connect with people. Those people should have the system work for them as well.

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