Improving the Economics of Steem: A Community Proposal (My Response)

in #steemit5 years ago

I want to share my opinion on this proposal, even if I'm a bit late to do so.


The proposed changes are said to be primarily an attempt to combat self-voting and bidbot usage. I would like to share my reasons for being skeptical of this claim.

Self-voting is not a problem.

People have been self-voting since the beginning - including many members of the Steemit team. It's only a really a problem when the weight of the vote surpasses the perceived value of the post, and especially so when it greatly surpasses it. If someone has earned or invested STEEM, and have posted something of value, then I have no problem with them utilising their stake to upvote said post - and neither should you. After all, according to the whitepaper, the reward pool was intended to be dispersed among the best contributors on the platform, and providing great content is a worthy contribution.

Consequently, I think making changes in order to address a problem that's not a problem, is silly. And I do not think that silly people are at the helm of this ship, so I distrust the claim that this is even the goal in mind.

Bidbots could have been stopped a long time ago, without a hardfork.

If Steemit Inc was against bidbots, then I understand not why the hardfork prior to the inception of bidbots served to create the climate, and the distraction necessary in order to give bidbots an opportunity to thrive before we even knew what had happened. By the time our vote power normalised, we found, as a community, that we had largely become dependent upon bidbots. Futhermore, many members of the community openly and loudly decried the use of bidbots, many of whom suffered flags or worse because of it. If Steemit Inc had wanted the bidbots to be gone, then at that point, they should not have remained silent on the issue, which amounted at the time to implied consent.

If Steemit Inc had posted during this time and informed the community that the use of bidbots is counterproductive to the alleged goals of fairly distributing STEEM across the network; if they had spoken up to the community, and told them that by using bidbots, we would be disincentivising many of the largest stake holders from voting on good content; and if they had warned that repeated usage of bidbots would lead to the concentration of influence into the hands of a small portion of the community, and lead to a potential monopoly on the network; then the majority of the community would have listened, and the few that remained using the bidbots wouldn't have been able to convince themselves that what they were doing was acceptable. Additionally, had they have done that, the bidbots would have made so much less that the largest stake holders would have returned to curating content to maximise their rewards.

Based upon my observation, the solutions we have been historically told are being addressed by hardforks, often have not been. And instead, we've found that with many of them, new avenues of abuse, far too often ones that reverse the distribution of influence over the network, have opened up.

Consequently, I am forced to question the agenda behind this proposal, and I really think that more should too.

To be frank, I do not understand the changes being proposed well enough to conceptualise what abuses may follow, and therefore what the real agenda may be - supposing I am right to distrust the proposed one.

But, what I am able to offer, is a different solution, to many of Steemit's problems. One that would undoubtedly take a lot of work, but that would be more likely to eradicate a large portion of the abusive voting that has plagued Steemit since the early days.

A Different Proposal

For starters, make a change that would remove the visibility of a post's votes and current payout, until someone voted on it(only once you have voted on it personally could you then see how much the post has already made)- or until the upvote period was complete. For the final 12 hours - the downvote only period - have the payout stats become visible, in case the community then wants to remove some of those rewards.

For voting correctly on content, allow users to earn a larger share of curation rewards. But do not allow a user to unvote after they voted, because they noticed that not many others had voted on it. Make it so that there is a box that comes up saying "are you sure you want to vote on this" so no one can act like they voted on something accidentally.

On top of this, to incentivise voting on the best content, rather than content one expects to be doing well, and to offer new users a chance to earn if their work is deserving of it, create a section of the site where a user can gain the opportunity to earn as high as 50% curation rewards for voting on a random stream of content within a predetermined(and extensive) list of tags.

To further explain, there would be a section of the site where one can vote on random content, within their favourite tags. After selecting say "funny" as a tag, a random active post will appear on the screen, with an arrow on the right that allows the viewer to skip to the next random post if they do not like the current one. For voting on content discovered in this fashion, curation rewards are increased dramatically, ensuring that even a new user with zero followers, but exceptional content, will have a much greater chance of not only receiving rewards, but gaining followers. This will not only incentivise fair voting, but it will do wonders for user retention.

I am not an expert, and these suggestions are merely a starting point for better minds to take and build upon. But I find them to be valuable suggestions for several reasons.

People only turned to and continue to use bidbots because so many of the largest stakeholders no longer bother to vote on content, so if you want to earn a lot, then bidbots are necessary for most to accomplish that. These changes would give anyone with good content a chance of earning whale votes, and consequently, I believe, many would stop using bidbots knowing that they have a chance to earn without them.

Secondly, content discovery is rather poor on Steemit. It can take quite some time to find a post that one finds truly interesting and wants to comment upon. The random content discovery will make the process of discovering new content, and new authors, more fun, and more rewarding with the %50 curation rewards.

Also, hiding the current payouts will be a benefit for many reasons. People will stop copy-voting, piling their upvotes onto posts that already have a lot of upvotes in the hopes of earning curation rewards. Authors too will be less demotivated by seeing their excellent post on 0.02 cents while having to look at shitposts on 200 dollars or more. It will also encourage people to actually read what they are voting on, to discern whether it truly is worthy of a vote, because much of the votes cast by users are on work they've not even consumed.

The changes I have proposed would inspire authors to dramatically up the quality of their work in order to maximise the chances of getting a large payout.

While I believe I have left out some of the details that are beyond my ability to understand, such as writing an algorithm that perhaps ensures that, while in the random section, the most voted content (within the random section) shows up more often to people viewing discovering content in that fashion, so too would unseen posts and unvoted ones get thrown into the mix often enough that everyone has a fair chance of getting their work seen and appreciated. Also, there are undoubtedly subtleties needed to be incorporated into the curation rewards when voted upon content organically. Subtleties that are beyond my understanding or ability to explain.

However, I am not providing these suggestions as a "do this now and everything will be fixed." I think that these suggestions are merely a starting point.

In closing.

Self voting is not a problem. Overpaid posts and comments are. The way to get rid of bidbots, that aren't even that profitable as far as I know anyway, is to instil within every author the belief that their post has a chance of earning a whale vote if it is good enough. If enough people can be turned away from bidbots, the influencers will return to voting on content organically or through delegations to curation trails in order to ensure they are still making complete use of their stake. This will start a cycle of more people earning, and less needing bidbots, until they are no longer needed at all. User retention on this site is poor and this needs to be resolved if STEEM has any chance of mass adoption.

The current proposal does not, to me, seem as though it will solve any of these problems. It seems sooner to be something that will drive even more new users away from the platform, and encourage large-stake holders to vote upon the same dolphins repeatedly.

If you find value in these suggestions then I ask that you resteem this post so that the right eyes can look upon them and improve them. Steemit is the community, and we need to start making changes that helps the entire community, not a handful.

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You're completely right that self voting is not an issue, the issue is abusing that self voting, which is what the proposal is geared to, it's not about self voting but abusing it.

As for bidbots, from my understanding the stance of steem was "your stake, your choice" and I'm not certain but I think that some steemit stake is delegated to bidbots. That said, I don't buy the explanation that a nefarious or underhanded tactic is in play with the changes. To me that is tinfoil hat worthy, the simplest explanation for these unintended avenues of abuse is that they were either unintended or that they were thought to be negligible.

We cannot hide the post payout for numerous reasons, some technical and others because of user experience.

Hiding posts payout goes counter to the ethos of transparency that steem was created on, an ethos that has been rippling through society and especially businesses for the last couple of decades and it will not change. Yes some things are not compatible with complete transparency, that's why we can encode memos and why nextcolony will not be a good game in complete transparency just as poker would not exist in total transparency, but in the context of curation, it's very important as it allows people to evaluate if a post is worthy of their vote or not based on how much it's rewarded at that moment, otherwise a lot of posts will not receive anything and only the exceedingly high quality will get votes as it's not worth the risk to gamble on a post that isn't almost guaranteed to make bank. That's why trending is a good system, because it will propel the content that is most valuable to the top but it won't penalize content that isn't trend worthy, and that content is what the community deems to be worthy of the most attention and it thus acts as a marketing strategy by putting our best foot forward. Content discovery would not really work by random. The way it's structured now works really good, with "new/hot/trending", and with content discovery like trending, the problem isn't content discovery or trending, the problem is that not enough policing happens on here and it allows people to cheat, so content discovery is hampered by the cheating as is trending, since now the pool is allocated by bidbots and not organic curation. One of the statistics on downvoting was less than a percent of the total votes are downvotes, much much less. I think it was 0.011%, and considering the noise that flag wars account for, it's probably closer to 0.001%. That is the problem. If more people would downvote the overpriced crap, almost all these issues would not be of any concern. Then content discovery and tending would change, but they are predicted on the behavior of people. If more people are policing the network, we should see immediate and long term benefits.

Posted using Partiko Android

I don't think it tinfoil hat worthy to question the agenda of powerful people in any ecosystem's motives, considering the world we live in has shown us that 99 times out of a hundred those motives amount to acquiring more power. But with that said, I very much agree with your point on hiding the payout. It does impact transparency and may cause problems for mid-level content.

What are your thoughts on the second suggestion? - to create a part of the site where one can vote on a random stream of content within selected tags and earn double curation rewards? I think this would incentivise fair voting and give new users a chance to have their content discovered easily. Understanding though that trending/hot/new tabs would remain, and content could be discovered that way too, just for lower curation rewards.

Also, why are you being flagged? Have you pissed someone else off?

Lol yes, I just saw who this seemingly nobody is that wasted 80+% of their voting mana, it's @ackza, a complete douchebag that tried to say shit about Elie Powell saying that she has no stake and does less than any rando on here, under the 3 month retrospective post by steemitblog. He seems mad at the truth, that it's not her job at all to hold stake or pander to the community. Dillweeds like that are hilarious, they latch onto anyone that they think will mildly approve their unadulterated hatred for steemit and try to incite them to hate as well. Fucktards that I especially enjoyed calling em out on their ridiculous asshatery, good on him for thinking I am worth all that voting power and the perfect encouragement for me to keep going. Flagging to me, is like Prison is to Bronson.

As for your suggestion on a new section that would roulette content for users to choose from it's would be a good idea, especially with tags, but it could also work with filters, so that for example you use search engine notations with -actifit to avoid certain content. Right now though, there's not that much activity that one can easily scroll down the new tab and discover all kinds of stuff, but certainly in the future there probably will be a need for better content categories.

I'm not saying don't question the motives, just that it's not only speculation, and even if you get the answer from the horse's mouth, that's not much but their story. If the intent is malice and you have reason to suspect so you need to gather all the evidence and present it to them or the community, because simply questioning or being skeptical of people's motivation or intentions isn't doing anything but casting doubt and uncertainty and it's borderline slanderous.

Posted using Partiko Android

We disagree massively on that. Perhaps if I said, "these cunts are definitely up to some shady shit" that would amount to slander. But, being skeptical, and encouraging others to be skeptical, of a party that has historically made changes that have hurt this community, especially when I have made it abundantly clear within my language that I do not know for sure, is far from slander - I'd consider it closer to common sense. I am certainly optimistic that everything is above aboard, but I have to consider otherwise, especially when I have been expecting since the bidbots started to monopolise the network, for there to be a future, further power grab of sorts.

I'm not one to devalue inquisitiveness yet there is a line between valid questioning and pointless questioning, just as there is a line between slander and borderline slander. I can't think of any questions that are pointed to one's motivation or intent that don't also fall squarely in pointless questions, maybe I need to ruminate on it some more. It's exactly like asking a bankrober "why did you do it" or "don't you know it's wrong", or "are they trying to pull a fast one on us".. Even if you hear it from the horses mouth, not that such insinuating question deserves an answer, it never does, but even if it's answered it all amounts to their story, you couldn't know it's true until later, after the fact if their actions contradicts their answers, and asking "are they trying to grab more power" is purely speculation, it's not productive or insightful what so ever. I didn't say it was slanderous, but borderline slanderous, because there's absolutely no reason to answer such a question and it serves then, as it's purely speculation, to cast doubt or shade on their intentions. Equally, you can ask them "did you know that such and such changes would be this catastrophic" and they can say that it was a possibility, or that they did not forsee it, though you can't blame them for taking risks or for not being able to forsee it. Now, is it slander to ask about their intentions? It depends on the point of the question, the premise, which could be an innocent mistake or ignorance/naiveté or much more insidious. I'll say this about your last remarks,calling it "a power grab of sorts", that speaks enough to say that you don't think much of them, and if you were in their shoes I'm almost positive someone calling your remark slanderous (not borderline even) would be meet with approval from your part.

The changes, such as linear, and delegations, were demanded by the community at large, these changes were almost necessary as well, so we can have the invaluable experience that they brought and not have any excuse to repeat them.

Posted using Partiko Android

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