Excellent post and ideas. I also think that page view metrics should be used. The simple fact is, people should read and reward if they enjoy or if it's considered thought and effort has gone into the post. Engagement creates more users and is the only thing that will drive growth and set us apart from all the other 'content providers' on the net.
System will never change though because there are too many greedy people with too much influence and too much to lose if they can't shit post their way to as much cash as they can.

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