Are we ready to drop author rewards by 20% for the new Steem Proposal System?
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Thank you for putting this forward. It is quite the conundrum and I'm glad you raise some concern for those who are content providers. I fully agree that it's not a good time to be looking at cutting those rewards.
I'm guessing that these workers are the development types, programmers and such like?
I fully get that what blocktrades is doing is to advance steem and thank him for that. I also realise that if the only way to fund it is through cutting author rewards, then it needs to be done. However, as a none programmer who has no chance of trying to earn any of those payments I can also see that this would likely leave content makers feeling betrayed again. There are already a lot of complaints going around over auther rewards and the lack of ability to get good content seen. If there are others sources that can be accessed for the funding, then surely this should be looked into, even if it only lightens the load for what needs to come from author rewards so that the percentage is a bit less noticeable.
I don't think it should come from witnesses. That weekly payout is actually much lower than I expected and knowing what associated costs and responsibility goes with it, I don't believe it should be reduced. I also agree that curator rewards shouldn't be reduced. Without incentive you'll lose a lot of curators then authors will be losing rewards and Steem will be losing authors. That sweet spot is a tough balancing act.
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Thanks for replying.
Yes, the worker system is mainly for development work but I don’t see why it can’t be applied for other jobs such as funding marketing campaign for example.
The idea is that on the long run the system will bring more value to the platform by building more useful features by opening the development of the platform to a wider development community. This should help everyone including content creators. But again, it’s about timing.
You are right, finding the sweet spot will be a challenging task.
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C'mon, witnesses literally are paid to maintain the network. If the top 20 are not willing to fund improvements for the network they are encharged with, we have failed
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If you look at the numbers I’ve shown above, you will see that expenses to run all the witnesses servers are already pretty high at the current STEEM price.
Additionally, top witnesses are not supposed to fund the development but run the network.
Posted using Partiko iOS
The top 19 make 1 Steem per minute, that is $400 dollars a day.
I don't know what kind of mega factory they are running, but I think that with $400 a day they can pay for multiple dedicated servers around the world and still buy a few cars a year.
I am a witness too, I used to pay $150 a month on a server, managed to cut down the cost to $30 a month, and I still have zero missed blocks.
It is the witnesses responsibility to maintain the blockchain, not just produce blocks, but maintain and keep the quality, that is why they make over 10k dollars a month! I miss the times when witnesses spent money on advertisement for Steem and other things, now they don't even step in to say "hold on, together we on the top 19 make over 200k a month, I think we can help with development expenses, because if steem goes up, we are the ones that profit the most"
200k a month for the top 19, if the price doubles it is 400k a month, and you tell me they need that much to pay for 19 servers? what kind of datacenter are they running?
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Not 1 Steem per minute, only 0.23 Steem.
Last week the top 1 witness made 9261 blocks per week, that is 1323 blocks per day. Too witnesses get 0.23SP per block so that is 304 STEEM per day which is about $93 per day, not $400.
Your numbers are not correct anymore. Also the number of SP per block is different for top vs backup witnesses.
Also one top witness does not need just one server, what about backup and test etc... You have not read my post as I detailed that inside.
Seeing the social media aspect of steem as another (although incredibly important for community building) dApp on the blockchain, then scraping off a little of the posting rewards for continued development makes sense to me. If the content was/could be monitized then my opinion may be different; yet as it stands it is draining financial value (although adding community value) so does not deserve the prrcentages it presently receives in my opinion.
Not being a proliferate poster (most all of my SPs were traded for BTC) my hope is to earn steem by using my programming skills once the system is in place.
After the system is in place and gives enough proof then I don’t see any issue with reducing author rewards. As a developer, I will also try to earn from this system so getting a stable fund will be for my advantage but I want to protect the content creators at this moment until we can build a safe environment for them.
Posted using Partiko iOS
Protect them from what? The real community content creators are not going to run for the hills because the community is more important to them, by and large, than the pittance most make by posting. Reward whores, who flip any steem they get to fiat putting downward pressure on the market, might be driven off as the lower price in steem seems to have done. Good riddance to them in my opinion.
Im not talking about these kind of content creators but real ones who create content because they like creating content and still stay around whatever the prices are. We do have users who deliver great content but yet receive small rewards. I don’t think reducing their reward by 20% for a new system that has not proven its effectiveness is the way to start.
Posted using Partiko iOS
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