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Improving the Economics of Steem: A Community Proposal by steemitblog

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· @steemitblog · (edited)
Improving the Economics of Steem: A Community Proposal
![improving economcs.jpg](https://cdn.steemitimages.com/DQmVa6WMn4tV1i1is6wMLxQHUMFRK4MbZtGRGadbSzxyFWB/improving%20economcs.jpg)

Hello Steemians, today we would like to disclose our public support for a proposal that we believe would improve the economic incentives built into Steem. The Steemit team recently met to discuss this issue. We agreed on the nature of the problem, and more or less agreed with the proposal presented by the Steem user @trafalgar which we will refer to as the “Economic Improvement Proposal” or “EIP.”

<h1>Improving Content Discovery</h1>

The problems that we believe should be solved are that of self-voting, passive delegation to bidbots (instead of participation in content discovery), spam (especially microspam), and abuse. These problems undermine one of the core unique value propositions of the platform; proof-of-brain. People generally gravitate towards what is the most profitable thing for them to do when there is monetary incentive. 

The goal of these economic changes would be to move Steem closer to delivering on the promises stated in the whitepaper of unearthing high quality content by making it more profitable for people to actively curate, and less profitable to self-vote and delegate one’s Steem Power to bid bots.

<h1>Our Focus</h1>

Right now our focus remains 100% on improving steemit.com, Communities, MIRA, finalizing the Steem Proposal System Hardfork (HF21 or the “SteemDAO”), and preparing to switch to SMTs. We do not have any plans to begin working on any code relating to these economic changes. But we do believe that this is a conversation worth having and one that we would be happy to participate in. Ultimately, the decision of when to begin work on these improvements, and in which hardfork to include them, will be up to the Steem community and the Witnesses they elect to approve Hardforks. 

The EIP has 3 components all of which we believe must be implemented in tandem in order to deliver the desired effect. If you’re interested in learning more about the rewards curve and the options for improving it, @vandeberg (Senior Blockchain Engineer at Steemit) has published [a more technical exploration of the subject.](https://steemit.com/steem/@vandeberg/reward-curve-deep-dive)

1. **Moving from a linear rewards curve to a convergent linear rewards curve.** A convergent linear rewards curve would start out superlinear, providing minimal gains at first, and smoothly become linear as more votes are made. Users that are interested only in maximizing the return on their Steem Power, instead of benefitting the platform through thoughtful curation, often engage in practices such as self voting or delegation to bid bots. The proposed curve incentivises concentration of votes on to fewer pieces of content, which increases the visibility of such counterproductive behavior. Alternatively, users could choose to act more subtly by spreading stake across more, but smaller, votes at the cost of a suboptimal return. We cannot eliminate such behavior entirely, but we can make it less economically viable.
2. **Increasing the percentage of rewards that are distributed to curators.** One of the problems with Steem as it stands is that there is a strong incentive to self-vote. The more rewards are distributed to curators the less incentive there is to self-vote. At the same time, if curation is improved, then those content creators who are currently submitting great content which isn’t getting seen, should stand to benefit as that content will be more likely to get unearthed. 
3.  **Create a separate “downvote pool.”** Downvotes are a critical component for regulating Steem, but there is no incentive to render them because they are not rewarded. In fact, they cost voting mana which disincentivizes the use of the downvote. This creates more opportunities for self-voting abuse as it reduces the likelihood that this behavior will be countered.  By adding a small pool for downvotes that is consumed prior to consuming voting mana, users are more free to downvote content as a curation mechanism without losing out on potential rewards themselves.

<h1>Feedback</h1>

Discussions like this have been extensive in the past and we want to share our opinion and continue the conversation started by community member @trafalgar. Our plans have not changed. We are working to finish auditing the SPS Hardfork, release a testnet, and make a public announcement which gives everyone (including exchanges) 30 days to review that code. 

Our hope with the EIP is just to highlight the conversation so that the Steem community has time to come to a consensus about whether they want these changes, and what they feel is the best timing as far as including the changes in a future hardfork. 

Let us know your thoughts on the Economic Improvement Proposal in the comments section below.

_The Steemit Team_
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vote details (255)
@arcange ·
Congratulations @steemitblog!
Your post was mentioned in the [Steem Hit Parade](/hit-parade/@arcange/daily-hit-parade-20190516) in the following category:

* Comments - Ranked 1 with 242 comments
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@artopium ·
$0.03
```Alternatively, users could choose to act more subtly by spreading stake across more, but smaller, votes at the cost of a suboptimal return. We cannot eliminate such behavior entirely, but we can make it less economically viable.```

See, the problem is one of perspective. One cannot have a totally *decentralized* and *censorship free* platform that grants monetary *incentives* (the whole purpose of using a blockchain, right?) **AND** *control* what people do with it, including spam, bid bots and the rest. To me, this is how I **know** it's a platform of freedom and NOT one of Facebook-like totalitarianism. I *want* to see *some* abuse take place, and I want to see community action solve it, like in many cases in Steemit's past. Not some **core** team of developers, who should step away from the politics of steemit, and be more concerned writing press releases about how the Steem blockchain is even *more* decentralized   (like, way more than 19-top-witnesses decentralized).

Posted using [Partiko Android](https://partiko.app/referral/artopium)
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@bashadow ·
$0.06
I still think the best way to ***Fix*** the curation issue that everyone seems to be so concerned about is to simply write in code that ***completely*** randomly starts the curation payout timer.  With that one simple action then curation becomes a reality because there is no way to game the start time of curation. 

Right now almost everyone thinks the 12-17 minute time frame is the absolute best time to vote to maximize most curation rewards. Vote buyers and sellers and bots and vote trails all shoot for this time frame, vote trail votes are not curation, vote bots are not curation,vote buys are not curation. 

Curation is people voting for content they like regardless of what time the post was posted. That is curation. Can you imagine what the trending page would look like if you completely ignored the number of votes a post received in the first hour? It would be a real trending page then.

I understand the random start time of curation reward payouts will never be a reality, at least not on steemit, after all look at your post a free downvote pool, yes by all means lets reward bad behavior, and there is a lot of bad behavior downvoting going on whether you or anyone else wants to see it or admit it.  

People are punished forever for a error in judgement, look at mack.bot, it does not matter if the person changed their ways, they are punished for ever until they simply give up. A downvote needs to be for a cause, and downvoting a comment someone made simply because they made a comment is wrong, Down voting a post that does not violate any of the suggestions for a reason for downvoting simply because of a bad decision in the past is wrong. 

I would like to think the downvote pool is not a done deal, but the writing is on the wall and it seems the decision has already been made.
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@miniature-tiger ·
$0.06
> Curation is people voting for content they like regardless of what time the post was posted. That is curation. Can you imagine what the trending page would look like if you completely ignored the number of votes a post received in the first hour? It would be a real trending page then.

A "flat" curation system, under which all voters receive the headline curation rate (currently 25%) could be a simpler way to implement this. The timing of each vote and the current post payout then become irrelevant, leaving manual voters free to vote on content whenever they find it.

The incentives of the current non-linear curation system only reward curation bots, whilst disincentivising manual curators to vote on popular posts. There is very little manual discovery.
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@bashadow ·
> There is very little manual discovery.

Manual discovery is the only true curation. Anything else is just someone pretending to be a curator to make money.
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@raycoms · (edited)
Seems logical, but how would you do anything like this random and not transparent on the blockchain. While people initially wouldn't know when it is, people after a while would develop interfaces which display the random value and bots which can read them.
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@bashadow ·
$0.09
I am not a computer programmer, how many bots defeat the random dice generators? Yeah they would be able to see the formula for the curation reward, but how would that help them defeat and build a bot to beat the random start time. 

The post does not pay out until day seven, Rewards are not paid out til day seven. On day seven the algorithm kicks into determine the start of the payout timer. How would having a bot help beat that? 

It's not like the bot can go back in time and adjust the time that it voted. The random value may be shown, but it will not be the same for each and every post, and it would not be shown until the post pays out.

It doesn't matter how many times I tell @rollthedice to roll a 2 it will roll what it will roll. Is there a bot that ***knows*** what it will roll?
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@josephsavage ·
$0.27
Use a hash of the block before the payout block as an input to identify location on curation start-time graph.
Totally unsolvable in advance (just like you can't solve a bitcoin block until the block before it is available), but super easy to validate after-the-fact.
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@trafalgar · (edited)
The 15 minute curation tax timer are one of many other secondary issues that deserve another look at, but they're not what I call core economic issues, that is I don't believe they'll materially affect the content indifferent voting behavior problem we have

Curation is about incentivizing stakers to actually vote on content which they believe others would agree is appealing by rewarding them for it. It's true that established authors can become very 'sticky' but this is also true for all other platforms. It can incentivize people to build a long term reputation. 

I also think that mobility away from established authors to uncover new talent is a good thing. Some amount of free downvotes is one mechanism that this can be done, as people will be more liberal in their use to bring down posts that are overpaid, and curators over time will learn this and adapt their behavior.

I am, of course, sensitive to the downsides of additional downvote incentives. We will try to work with a moderate amount of free downvotes, just sufficient to keep stakers mostly honest and no more. There are costs to all these measures and the challenge is to find the right balance
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vote details (3)
@bashadow ·
$0.03
> Curation is about incentivizing stakers to actually vote on content which they believe others would agree is appealing by rewarding them for it.

I have not seen that very much in the past almost two years I have been here. There is no incentive to find good content, if that was the case then there would be many more post that get voted on day 4 or 5 and that simply does not happen. Even the post that are on the trending page rarely get votes on day 3 or 4. 

I have yet to see a post that was on the trending page be down voted other than @haejin. All incentivizing downvotes will do is lead to more bullshit down vote and tack on downvotes such as what the @mack-bot does. @mack-bot does not stop punishing a person at all from what I have seen. A downvote is for a piece of content, or an excessive reward or the other reasons listed. 

What purpose does a forever downvote serve? You are no longer downvoting content or reward, you are downvoting an individual when that is allowed to occur. If an individual is that bad then steem should prevent the account from posting anything at all. If they can do an account recovery then they can do an account rights to post take-away.

I have yet to see a single solid reason for rewarding downvoting.  It does not matter what the *community* wants in regards to downvotes, it will be incentivized simply because it provides another method for the ***stake*** holders to make more money. Downvoting has never been about a post payout. It has been about bullying and someone getting there way for the almost two years I have been on steemit and posting to the steem blockchain. 

Downvotes are not about content quality either. it is about a bullies idea of what should or should not be allowed thought wise on the steem blockchain. 

But we will never see eye to eye about downvotes and how they are used on steemit, I will see them the way I do as bullying and you will see them as you do about rewards and content quality. 

Blacklist do not work, and should be banned.
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vote details (2)
@valued-customer ·
$0.03
Innovative thinking regarding random timing.  

I completely agree regarding flags.  It isn't necessary to make a bad decision to get flagged.  Sometimes flags are flown for bad reasons.  The downvote pool is a solution in search of a problem IMHO.  It will only encourage flaggots.  

Trust me on this.  I know.
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vote details (3)
@bashadow · (edited)
$0.03
Oh I have seen it in action. iflagrewards and mack-bot are in my opinion a problem not a solution. There are very very few places where an individual is crucified over and over and over again for the same mistake. No flag should be allowed with out a person commenting on why it was flagged, that is the first issue with flags, if you an not give a justification for it regardless of how lame the justification is, the flag should not be allowed to stand. The blanket party flagging that goes on is useless. There was no justification for any of your comments to be flagged in this stream. there was no reason for sift666 comments on another stream to be flagged other than someone did not like his responses to bot style suck-up give me a vote I left a comment comments. 

Each and every flag needs justification behind it, and it need to be justifying what is being flagged, not some post or action yesterday or a year ago, but the comment being flagged.
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@iflagtrash ·
$0.19
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vote details (12)
@bil.prag ·
greed and lust will doom them all.

Posted using [Partiko Android](https://partiko.app/referral/bil.prag)
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@bluengel ·
More Curation Rewards is Goooooood !

DownVote Pool is not Helpful for Vituous Cycle of Steem when it abused downvoting in Harmful way i.e. in Personal !

Posted using [Partiko Android](https://partiko.app/referral/bluengel)
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@bluerobo ·
$0.02
I have never heard anybody complaining about the costs or lack of incentives associated with down voting...

Posted using [Partiko Android](https://partiko.app/referral/bluerobo)
👍  ,
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vote details (2)
@bryan-imhoff ·
$0.03
I don't believe changes such as these will alter the behavior of large stake bad actors in any way. The main problem is that these accounts have large votes that single handedly propel the rshares of the content they vote on to a very high point in the curve which matches the current economics, thus no change occurs for them. There also will be no change to self voting patterns because this remains the best ROI for them. Even with a 50/50 split enacted, large accounts would have to have votes nearly equivalent to their own voting strength come on to the post subsequent to their upvote in order to begin to match the gains they'll get from self voting and scooping both the author and curator payout on their own content. This doesn't happen because of their sheer size, as it takes a huge number of small users to match them. The only viable alternative for large accounts is to split their vote into many smaller votes, which I'm sure is the preferred outcome, but is entirely unreasonable to expect we'll see better quality curation out of this. Telling an investor that to see good returns they'll merely need to read, evaluate, and vote on a couple thousand articles a day using 1% of their upvote strength is a non starter. It'll still be sold, outsourced, etc resulting in no change to curation. The only thing that will begin to make curation more viable is a much larger userbase and a broadening middle class. These proposals actually stunt the growth of both with lessened author rewards and curtailed voting power at the low end. Curation should be organic. Vote on what you like. All of these changes seem to aim at making users guess what will be the most rewarded, which isn't organic discovery. 

We have yet to see how the current system will function at full scale. I firmly believe that when there are tens of millions of active users and voters, we'll see genuine opportunities for profitable curation under the current ruleset, and self voting insular whales will merely handicap themselves by not growing a fanbase and interacting positively with the broader community.

The only thing I would support is some form of continuing to normalize and encourage downvotes. Much of this could be simply educational and psychological, not even on the blockchain level. Badges and avatars, a quick hover over a user that'll show stats on how broadly they curate, how much they self upvote, etc. A complete overhaul of the reputation system that embraces this. (self upvotes decrease visible rep score?)

All in all, far too much time is being spent on how to influence a few dozen people to not be short sighted... and far too little is being spent on how to prepare Steem for millions of users.  We should be asking ourselves how proposals like this impact users holding 1-5 Steem power. If we get to 100 million accounts... that's how much 99% of those accounts will have. If we get to even 10 million active users in the next couple years, given Steem inflation we're looking at each account earning a median of approximately 3 Steem per year. And that's the median... since early adopters will vastly outperform that, virtually all average users following any kind of widespread adoption will see less than 1 Steem per year in earnings. Period.

Forget trying to figure out if 99.9% of the future users will get .8 Steem or .6 Steem a year. Leave improved curation and community specific rewards up to SMTs, Oracles, and 2nd layer systems as has been the seeming plan all along.

Create the much needed Resource Credit pools for dApps, communities and large scale adoption. If you want to change the current dynamic somewhat, **do not** allow RCs and SP to be separated during delegation. Serious businesses that have need of both the RCs and the SP for responsibly building and rewarding their communities will inherently pay more for these combined delegations than a bid bot project that has no use for the RC component and we'll see more SP shift to sustainable and responsible business applications and allow a better avenue for passive investors to pursue ROI.  And finish polishing up that Promoted Post system to wrestle back some of the "exposure" spending from bid bots and create a counter to Steem inflation!
👍  ,
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vote details (2)
@cardboard ·
$0.24
With those changes, in my opinion, users will just move from delegating to bidbots to selling the "right" to vote in their name to services like minnowbooster and smartsteem.

Also many users enjoy the passive income that comes with the delegation. Maybe you are focusing too much on the social side of steem, failing to see it as a platform for many other services / businesses. If so, private chat on steemit would be a great start (it doesn't have to be on blockchain).
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vote details (7)
@smooth · (edited)
$0.19
Voting services are not necessarily bad to the extent they vote on content in some sort of intelligent manner, which is what these changes would encourage (otherwise downvotes and poor return on curation rewards is the penalty, and even if they do pay this price, the rest of the system, i.e. people doing things closer to as intended, benefits from that penalty). A voting service that takes care as to what it votes is called curation.
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vote details (1)
@trafalgar · (edited)
Entirely correct. The idea is to get bid bots to alter their businesses and compete over some form of curation that isn't mindlessly supporting the highest bidder indifferent of the actual content. It just needs to somewhat track content based on the its predicted general appeal for the system to work. Some amount of free downvotes are likely needed to keep everyone honest
👍  , ,
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vote details (4)
@valued-customer ·
$0.02
No voting services intent on financial matters care at all about content.  No tweaks to rewards curves or curation splits will change that.  Any financial incentive to curate is financial incentive to corrupt curation for profit.  At best some curation services like @ocdb seek to reduce financial manipulation, but they cannot compete with stake.  

Eliminating incentives to corrupt curation is possible, and will solve the problem with facility and simply.
👍  
👎  
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vote details (2)
@clayboyn ·
$0.03
So basically we're going to address all of the community concerns and fix the shit that we've told you was broken for three years after leaving beta?  Was waiting while whales systematically destroyed any semblance of a middle class on the platform and made the majority of the community leave worth it?
👍  ,
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vote details (2)
@trafalgar ·
I don't want to look a gift horse in the mouth, even if it's late.

My bet is some of the people at Steemit Inc had supported similar changes ages ago, but were similarly shut down like you and I have been, and have been equally frustrated.

Let's put all the negativity aside, this is our chance to fix things. Let's take it. The community will likely come back when we put some serious thought behind the economics and make things work far better than they had ever worked before.
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vote details (5)
@mattclarke ·
Its incredibly refreshing to see these ideas back on the agenda. 
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@clayop · (edited)
$1.52
While I like those technical approach, I don't think changing the current reward dynamics on **STEEM** is a good idea. Because there are diverse opinions on this issue, as we can see many people's comments here, moving towards in favor of one side of them would make the other sides dissatisfied.

Rather, I argue for removing contents rewards, i.e. author rewards and curation rewards, from STEEM and shifting the role to sub-community tokens, a.k.a. **SMTs**. Steemit also can issue *STEEMIT SMT* that has similar or suggested (by @vanderberg) PoB economics to the current STEEM. Others like @trafalgar can issue alternative SMT that meets his EIP. This approach has several merits.

1. Given the approach, we can focus on SMT development and don't need waste time for debates and following code changes about the economic model.

2. Market models will work. Various approaches can be experimented and be proven their values in the market as a token price. This survival of the fittness environment will strengthen Steem's ecosystem.

3. By removing PoB rewards from STEEM, its inflation can be dramatically reduced, hence investors can be more attracted to the base currency STEEM. Also, investors don't need to compete with contents creators by self-vote, etc. to ensure higher ROI.

4. Given decreased inflation, we have more room for ecosystem-level experiments like [Steem Proposal System](https://steemit.com/blocktrades/@blocktrades/proposing-a-worker-proposal-system-for-steem) by @blocktrades.

This change make STEEM as a base currency and investor-friendly token; they can earn identical ROI without doing 10 self-votes per day. For comparison, in the current system investors who don't self vote have much less ROI than those do 10 times per day. It will also reduce meaningless votes from investors' purposes.

Some SMTs can be built on the investors return. Good-will (or smart) investors, or Steemit inc. may launch SMTs which value and inflation speed are pegged to STEEM. I am sure there will be much more creative ideas for Steem's growth.

I wish the dev team solely focus on SMT and redeveloment the whole thing with the new paradigm, rather than band-aiding the current things.
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vote details (14)
@mexbit ·
this is what i think as well, remove it entirely from steem, less inflation and no need for bidbots. the steemit_smt can then do whatever it wants...
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@smooth ·
I would support this approach as well. But as you say there are diverse opinions on things and I'm not sure there is clear consensus to separate the curation and rewarding function from the base token.
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@trafalgar · (edited)
The short answer to this is I don't think we'll survive long enough for any SMT to come into being on their own given where steem is right now.

I don't believe we can compete if we completely convert to a bandwidth token as our system doesn't support turing complete smart contracts, nor is it as robust and fast as many of the DPOS competition.

If we pivot to a general purpose bandwidth token and rely on the abilities to make Steem alts to carry us through this while our base token is cmc rank 60 and dropping, we'll be competing directly with better tech and bigger wallets and we'll lose. We'll be behind in everything and have nothing to compensate for that.

Our competitive edge is that our core token focused around a social media platform, and I believe we'll see immense growth with a fixed economy if we do so quickly. We have maybe 10k-50k active users, and more would return if we fix the economy based around steem. Our alexa rank is fallen but it was as high as 800 at one point. Focus on our initial mission, that's our strength. I'm confident we can fix the economy and turn this shit show around and light a fire to bring real users and engagement back on here. That's where the real value is, we do this correctly and it'll magnify the value of SMTs and Communities and marketing efforts. Fail at this and everything else is futile.
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vote details (6)
@clayop ·
On my scenario, STEEM isn't only bandwidth token but also reserve token for many SMTs. Also there can exist other methods in favor of investors, such as LPoS scheme.
I agree fixing economy is desperate. But we already have a wide spectrum of economies from curation guilds to voting bots. Changes of parameters can fix some of them but not for some others. And these groups will continue their own economies with a new broken economy. I think we need to find more prudent and wise approach, and thanks for initiating this topic :)
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@mattockfs ·
Made [this facet contract sugestion](https://steemit.com/utopian-io/@mattockfs/suggestion-proposal-for-a-capability-based-facet-contract-implemetation-for-the-steem-blockchain) a while back as partial solution for the TTP problem.  Might be part of a bigger picture as well if STINC were to give it serious consideration instead of looking to take yet an other potentially disruptive gamble by cutting author revenues by one third or adding a likely futile flag pool without addressing the false reputation problem first.
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@cloudspyder ·
$0.10
Those three proposal will only drive away most investor who hold big stake as bot operator in my opinion. Because, people do invest to make profit and not to lost. 

Why not just add reward poll to reward post based on organic view from search engine. In addition, this post will keep rewarded until it adds value to the blockchain. Let author earn like they own the website as there personal blog. You may get those fund from adverts.

This makes those author out there to start blogging on steem blockchain instead of registering there domain name. Furthermore, it encourage old user to post only and really quality post.
👍  
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vote details (1)
@prakashghai ·
Good idea
But tell me also this
If a blogger has a good alexa ranking and he posts similar content from the blog here on steemit. It impacts negatively the alexa rank of his blog and steemit both. (Duplicate content)
Why isnt there an option to turn search indexing off?
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@cloudspyder ·
Yes, duplicate content is plagiarism and plagiarism leads only getting block listed from search engine index.
👍  
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vote details (1)
@raj808 ·
$0.02
> drive away most investor who hold big stake as bot operator

Those users you're so worried about driving away take a huge amount more out of the pool than they ever put in. Why would we want such investors? I'm not sure. You have services such as steemhunt etc trying to build genuine marketing/advertising use cases for serious investment in steem... Yet the shtshow that is steem bidbot platform drives all the potential audience away within weeks of joining. This stifles any chance of positive investment in this space. Why would anyone invest big buying steem to try and incentivise a none existent audience?

Posted using [Partiko Android](https://partiko.app/referral/raj808)
👍  ,
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vote details (2)
@clumsysilverdad ·
$0.02
<a href="https://imgflip.com/i/3151f4"><img src="https://i.imgflip.com/3151f4.jpg" title="made at imgflip.com"/></a>
👍  ,
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vote details (2)
@mattockfs ·
$0.03
Now I wish Steemit Inc could implement resteem for comments 🤣
👍  
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vote details (1)
@nokodemion ·
Exactly!!!
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@cre47iv3 ·
# <center> You guys JUST DONT LIKE PEOPLE RIGHT? </center>

---

<center> We have NO VOICE. We are just Steemit Inc whores. </center>

No matters what face is under Steemit Inc administration, they always F**K little ussers

# <center> Steemit Inc Policy: Fuck little ussers </center>
> No matter when you read this.

<p>

I just dont want to write anymore, really, whats wrong with you? Its just amazing, how a new administration can be __THAT EVIL.__

---

# The future? A few whales voting each other on his empty post. 

---

Just...Why stupid people have always the power? What are we? Just GARBAGE. You just want to earn at any cost, even killing content creators. 

Cant believe this is happening again.

Just a big fuck you! Go post on Twitter that descentralization news are needed then post same ideology as CNN on the same twit.


Anyways... No one is going to read this, because (surprise) _im just a nobody_

# <center> Hypocrites and cynics.</center>
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@crypto.piotr ·
Dear @steemitblog

I really hope that you will find time to reply to my comment.

You wrote:
> Increasing the percentage of rewards that are distributed to curators. One of the problems with Steem as it stands is that there is a strong incentive to self-vote.

I was wondering since yesterday ... (with those changes already implemeneted) if I would self-upvote myself then I will still benefit the same as I do right now. At least that's what my logic tells me.

After all as an "author" I would receive less, but as curator I would receive more. And at the end I would still have exactly same reward (if you summarize both).

Am I wrong somehow?

Yours
Piotr
👍  
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vote details (1)
@dalz ·
$0.32
I'm AGAINST all of the propsed changes.
On the author/curation split just make a slider in the range 60/40 to 100/0.... for flexibilitie.
👍  , , , , , , , ,
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vote details (9)
@d-pend ·
$0.22
I've wanted the custom curation slider for ages.
👍  , , , ,
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vote details (5)
@ddrfr33k ·
$0.03
I think this is probably one of the better ideas so far.  Greedy users won't see nearly as many upvotes, but others who split the pot will see others come along and upvote...
👍  
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vote details (1)
@kevinwong ·
$0.19
If we have a curation slider, most votes will go for anything set near 100% or 100% curation over time.
👍  
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vote details (1)
@dana-edwards ·
$0.18
Good job, maybe there is some hope for Steem. Let's have this discussion.
👍  
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vote details (1)
@trafalgar ·
Yes, it's been long overdue and is desperately needed
👍  ,
👎  
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vote details (3)
@danmaruschak ·
$0.08
I could be wrong, but it seems to me that the best strategy to get curation rewards is to "bet on" posts from people who already have a track record of having popular posts. If this is true then it's not clear to me that this works well as "proof of brain" so I'm not sure it makes sense to devote more rewards to it, especially at the cost of rewarding creators. Is there evidence that careful, thoughtful, content-based curation "works better" than dumb algorithms like voting for posts from accounts with good track records? 

If the goal is to improve the incentive structure on the blockchain to encourage people to manually search for good posts based on their content then it isn't clear to me that this proposal does that. For one thing, since the share of curation rewards you get are still tied to impact of your vote most people won't see very big curation rewards since most users of the site don't have large amounts of SP. If the reward for identifying an awesome post is still tiny for the majority of users isn't it bad ROI for them to put in the effort? Or is the idea to try to incentivize big accounts to curate?
👍  , ,
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vote details (3)
@dana-edwards ·
Anyone can build a track record over time. It takes a while but it does happen.
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@smooth · (edited)
The highest ROI even for smaller accounts is to find unknown content that figures to be successful once it becomes visible and vote on it. You won't earn as much as a larger account in absolute terms, but you may actually earn _more_ relative to your SP level (return on investment).

Voting mechanically for authors with the best track record doesn't work to generate the highest return because you have to vote earlier and earlier to get ahead of everyone else doing the same thing, which then reduces the curation rewards (the system docks them back to the reward pool for votes before 15 minutes).
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@danmaruschak ·
> The highest ROI even for smaller accounts is to find unknown content that figures to be successful once it becomes visible and vote on it. 

If there are N low-reward posts the odds of finding one that will be a hit are very low. Is there an effective method for finding posts that "figure to become successful"? If there is why aren't people using that mechanism today? Is the argument that they're not but they _would_ if curation rewards were ~2X what they are today?

> Voting mechanically for authors with the best track record doesn't work to generate the highest return because you have to vote earlier and earlier to get ahead of everyone else doing the same thing, which then reduces the curation rewards (the system docks them back to the reward pool for votes before 15 minutes).

Do you have some kind of evidence or analysis for this assertion, or is this speculation?
👍  
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vote details (1)
@novacadian ·
>... the system docks them back to the reward pool for votes before 15 minutes).

My understanding is that since HF20 rewards from votes prior to 15 minutes goes to the author and no longer back to the reward pool. Can anyone confirm or deny that?
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@valued-customer ·
$0.02
The ROI available to such small curators is so insignificant that it is ignored.

Curation rewards do not create incentive to curate good content.

All they do is create financial incentive to corrupt curation for profit, and only for substantial stakeholders.  They are a drag on Steem and basically a tax on capital gains.
👍  
👎  
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vote details (2)
@trafalgar · (edited)
Just quoting myself from earlier: 

> Curation is about incentivizing stakers to actually vote on content which they believe others would agree is appealing by rewarding them for it. It's true that established authors can become very 'sticky' but this is also true for all other platforms. It can incentivize people to build a long term reputation. 

> Curation is a zero sum game which forces voters to compete with incrementally earlier votes over established authors and at some point you'll likely lose more due to the 15 minute curation tax timer than if you were to seek out less established authors with appealing content

>  Some amount of free downvotes is one mechanism that can further serve to increase mobility away from established authors, as people will be more liberal in their use to bring down posts that are overpaid, and curators over time will need to adapt their behavior if they wish to maximize their rewards.
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vote details (3)
@danmaruschak ·
> It's true that established authors can become very 'sticky' but this is also true for all other platforms.

So because you can't figure out how to improve the situation you want to double down on it?

> It can incentivize people to build a long term reputation.

And it can incentivize giving up if it looks like becoming successful is an extreme long shot.

> at some point you'll likely lose more due to the 15 minute curation tax timer than if you were to seek out less established authors with appealing content

The current proposal doesn't change the 15 minute thing, so whatever effect you think it has should already be in effect, no? Also, in response to someone else in the thread you said:

> The 15 minute curation tax timer are one of many other secondary issues that deserve another look at, but they're not what I call core economic issues, that is I don't believe they'll materially affect the content indifferent voting behavior problem we have

So which is it, it doesn't have an effect or it's the solution to the problem?
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@distantsignal ·
Am I missing something here?  Are you proposing to take rewards away from Creators for Curators?  I'm just catching up to this proposal and I've been seeing a 50/50 split bandied about.  

As a creator, I cannot agree to this proposal.  Creators should get the vast majority of the rewards on the system and right behind them should be witnesses and then finally the Curators.  

If you want to make user retention better, stop focusing on the false promise of rewarding what amounts to passive participants with money and make the Steem Network easy to use.  100% of people who I've gotten to join give up after two days because of confusion and not enough INITIAL SP to explore the network.  They don't get to vote and get confused about "Powering Up". 

You're tinkering around with a car engine and ignoring that your car doesn't have seats for drivers.  It's unreal that you think that just by throwing money at users that you'll get good curation.  Users love the experience of sharing and commenting.  They'll do it without compensation if the system is effortless to use.  

This kind of thinking is killing the network.  Remember the famous adage, "Keep it simple, stupid" and look at the experience from your run of the mill user and you'll get better retention.  

Why is this so hard to understand?

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vote details (1)
@kawaiicrush · (edited)
The answer to your questions are in my last 100 posts.

Steem is an experiment (says it on the last page of their whitepaper).

![](https://cdn.steemitimages.com/DQmRkP3Z7MseMp6PwS8wvoAmifZGNiHk64nJVWTr1YvAX4k/image.png)

It is all about lining their own pockets as much as possible, they have zero intention of making this actually function. 

![](https://cdn.steemitimages.com/DQmPdCupWDo7t5VJbNMogXjVvtK5QGRWBrEdwyRnveMq2gF/image.png)

By making curation more profitable the whales that do little to nothing other than line their own greedy pockets can further profit.. leaving all of the creators in the dust.

It has nothing to do with giving you the user a better experience, it is just about squeezing as much money as possible out of this puppy before the total implosion.

Lastly 40% of the top 20 witnesses are in power down.

60% of the top 100 witnesses are currently in power down.

They know it is done. They are trying to trick people into buying in.. so the price doesn't tank as they exit. Then you will all be left with nothing but worthless shit coins.

Cheers
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vote details (14)
@iflagtrash ·
$0.07
You're a waste of space.  You've been flagged like the trash you are.
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@doitvoluntarily · (edited)
$0.02
is there any way to ever share the advertising revenue from the ads with the users? so that they can earn residuals?
👍  ,
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vote details (2)
@valued-customer ·
$0.11
There is a way for users to get all advertising rewards for advertising they themselves post on their blogs.  That's the only kind of advertising I support.
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vote details (7)
@iflagtrash ·
$0.16
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vote details (12)
@drutter ·
At first glance through, I'm not in favour of passing this omnibus bill which gets government involved in regulating the economy rather than focusing on their basic duties and allowing the free market to flourish.
👍  
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vote details (1)
@eastmael ·
This is a hard topic and is worthy of discussion. Thank you for involving the STEEM community. Although I don't have any immediate idea in mind, I'd like to watch (and hopefully get involved) into its discussions moving forward.
👍  
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vote details (1)
@eonwarped ·
I support the principles underlying this economic proposal. 

I suspect many don't realize that even the convergent linear curve proposed is subtle and needs correct tuning to be effective. I've documented my fairly brief exploration of this in [this post](https://steemit.com/steem/@eonwarped/reward-curve-fun). And hopefully it helps with understanding the reward curve in the first place.
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vote details (1)
@felipejoys · (edited)
> more profitable for people to actively curate

It is already more profitable to curate. People just don't know how.

> Increasing the percentage of rewards that are distributed to curators.

This sucks. It makes everything WORSE! Using big votes to rape the reward pool is so much easier that way.
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@gduran ·
$0.05
Increasing curation rewards will just help those who have a lot of SP, I see no way in which that could help Steemit. The main problem is the we have this circle jerk voting, you scratch my back and I will scratch yours, and nobody else gets votes, 50/50 curation makes no difference to them because they always vote for the same people and they get the same votes back, the money they get will always be more or less the same. Only now they can also vote for other content and get 50% of whatever that author gets, win /win for them and lose/lose for the author, if anything reduce curation rewards that might do something.  The problem with Steemit isn't curation, or bid bots or linear or curved rewards, the problem is greed.
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vote details (5)
@ew-and-patterns ·
$1.19
The current system incentivizes greed. That is the root cause.
I want a system that makes self upvoting less profitable than curating,  but does not punish authors and small accounts as a side effect.
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vote details (5)
@trafalgar ·
If you can come up with any way to shift the status quo from our current failed system to 
 one where stakeholders actually vote based on content appeal with fewer or no negative side effects, I'm 100% all for it

Every measure I could think of had negative side effects which is why a combination of them used with modest intensity is likely best.
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vote details (4)
@valued-customer ·
$0.03
The current system improperly incentivizes greed.  Greed is like gravity, it's simply part of the environment we are in.  We can either create mechanisms that benefit the community from greed, like a waterwheel profits from water flowing downhill, or we fail, as these current proposals will do.  It is the stakeholders - not the community of content creators - that will profit more from these proposals and gain an even larger portion of the rewards content creators make possible.

Tweaking the extant broken financial incentives is akin to trying to spend less on pumping water uphill.  It's not ever going to be profitable to do that, and we need to make development of Steem more profitable than extracting rewards by corrupting curation.  
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vote details (4)
@lauch3d · (edited)
Right, its because the stake and vote-contribution is public. Its proof of socio-economic-status and not proof-of-brain --> Hence shitty content... Stake only should give you the power to earn return (like in share-holding) not social power. Right now, its pay-to-win. Selfvoting contributes to nothing. Like downvotes/flags are contributing to nothing, like multiple accounts are contributing to nothing. ...nothing but abuse. If one wants a DAO one has to solve the identity-problem with something like Dan proposed with proof of life, then you can democratize the social layer and leverage MIRA. MIRA does not work in a plutocracy. Greed is good (its the driving force) but you have to regulate and utilize it like in bitcoin.
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vote details (3)
@valued-customer ·
Proof of wallet will never provide nominal incentive to create good content.  Proof of brain is not derived from stake, but the subjective opinion of actual persons, and no automated mechanism can provide it.  None of these proposals changes any of that, but will make selfvoters and bidbots more profitable - at our expense.
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vote details (3)
@prakashghai ·
Wow
I love your opinion
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@georgeknowsall ·
$0.02
Wow! you really want to screw the little guy and reward the bigger accounts.
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vote details (2)
@hanshotfirst ·
$0.22
As a content guy, I have a few serious concerns. 

First, I think this would be repeating a very big mistake from the past: changing too many variables at once. If you changed all three of these at once, it would be impossible to gauge the impact of any one of them. 

Second, the problem's outlined above involve the selfish use of upvotes at the expense of the success of the platform as a whole. Over my nearly three years here, I have not seen any evidence that would lead me to believe downvotes would be used in an unselfish way. In fact, all of the evidence points to the exact opposite. This problem is exacerbated by the fact that receiving (and I mean *receiving* not *earning*) a downvote creates a far worse user experience than simply not receiving an upvote. I think it is safe to say that a person earning a reward, seeing the reward and then having the reward taken away is far worse than simply never receiving the reward in the first place (and I am talking about *feeling* and *emotion* here, not logic). I am sure someone cashed a huge grant check to study that bit of common sense... but I'm not going to search for it. 

Third, why the urgency to change this now? Why not see what communities and SMTs accomplish before adding in another variable?
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vote details (3)
@trafalgar ·
The measures unfortunately all have downsides that increase as you tune up the dial. Curation leaves less for the author, Free Downvotes increase toxicity and at high levels open abuse to collusion, Superlinear leads to inequality and at high levels collusive abuse as well. Using a combination of these measures allow us to minimize the dosage of each poison individually while still having a sufficient enough impact to turn this completely failure of a content discovery and rewards system around.

Yes, I agree that downvotes suck. To say they'll be used selfishly is ambiguous, because unlike upvotes, modest amount of free downvotes cannot be used to direct value towards something, only away from something. That is to say, it's harder to profit directly from them. But if you mean selfishly as in some will use it with reckless abandon to bully and keep a stranglehold on smaller players that they dislike, and this would definitely increase toxicity on the platform - yes. Hopefully that's not the only way they'll be used, but an increase in toxicity is a considerable and expected downside. Again my intention is to use as little of these measures as possible, especially this one, but I'm afraid some is likely unavoidable if we're to have any hope turning this place around.

But look at the platform overall today my friend. It's complete trash. It doesn't work at all, there's no correlation between content appeal and rewards because the incentives are badly aligned. Our price and alexa rank are in free fall. If we don't attempt economic reform, we're going to just die out.

I don't think this is going to delay SMTs. It can likely be coded in a week. But it's the fundamental core to our value proposition and if we stick with the status quo we're doomed. SMTs can't carry a disfunctional core system, nor can Communities. 

It's like if the house is on fire and we're still debating about whether to put it out or to go purchase a new couch to put in the lounge room that's burning down. Half the people are like 'aww but I've been looking forward to having a new couch' or 'I dunno, we've been saving a long time for a new couch and almost have enough money and now you want me to spend a bit of it on an increased water bill?' or 'bahh how sure are you that putting out the fire will increase the resale value of the house more than getting a new couch anyway?'. It's sort of insanity :p
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vote details (3)
@hanshotfirst · (edited)
$0.15
First of all...
<br>
https://www.youtube.com/watch?v=7lRj5cb-Vic
<br>

Now that I have that out of the way, you know me. I 100% agree that this is a raging dumpster fire. The content on here is a joke (and I don't mean the good kind). Where you and I differ fits right into the house analogy. 

The house is on fire (super shitty content), I believe the fire department is on their way (SMTs), and there are three buckets of liquid sitting at our feet (these proposed changes). We don't know what is in the buckets for sure. We can only take a guess. I think one is filled with gasoline for sure (free downvotes). I'd prefer to wait for the fire department. I'd like to see if they can put it out before taking the risk that I am throwing gasoline on this already toxic disaster.

It sure would help if I knew how close the firetrucks are. If they are right around the corner, I'll wait. If they are 24 moons away, perhaps it is time to simply toss away.
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vote details (2)
@valued-customer ·
$0.05
>"The measures [I propose] unfortunately all have downsides that increase as you tune up the dial."

FTFY.

If we implement these changes you'll personally profit more from extracting rewards.  These are the wrong changes.  
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vote details (4)
@honeydue ·
$0.04
Completely against all of these proposals. If you're so hellbent on changing the rewards system, why not make it optional? If I, as a content creator, wish to go 50/50, I can make that choice. If I wish to keep it at 75/25, I should also be able to make that choice. I don't see why one rule should affect all accounts, since curation itself only helps a handful of rich accounts...

Seems to me that all these proposed changes are detours for Steemit.inc.  If it ain't broke, why fix it? Why not focus on SMTs and other changes that would help grow the platform? 

Just my two cents' worth...
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vote details (3)
@joshman ·
This would be the best way IMO if you thought there was any hope the system would self-adjust. As an example, why would I ever vote your stuff if you are known to shit on curators. Maybe as a voter I would happily take zero curation for a good cause. Maybe as a creator I want to give back and take zero author rewards. Letting the author choose the ratio would go a long way to showing that they own their own content as well.

Posted using [Partiko Android](https://partiko.app/referral/joshman)
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vote details (1)
@hotsauceislethal ·
$0.23
I was literally just talking about this on my discord chat with @canna-curate members. 

The whole platform is economically incentivized and this creates an environment where users simply want to game the system for max reward. This is clearly not how the platform was intended to be used but there is no way to completely prevent abuses and loopholes. We can only work to minimize or disincentivize this kind of behavior. 

One of the biggest things I have noticed is the lack of genuine user interaction in favor of autovoting and spammy comment farming. People have found ways to receive the reward without having to do any of the work involved in participating actively.
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vote details (19)
@trafalgar ·
We have a heavily flawed economic system right now. You're correct to spot that it simply just rewards behavior we don't want (self voting, vote selling to highest bidder) rather than sufficiently rewarding honest votes that reflects one's opinion of the underlying content. This has caused a downward spiral that is threatening to break the system unless we take action to rectify it very soon.
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vote details (3)
@igster · (edited)
$3.80
> We cannot eliminate such behavior entirely, but we can make it less economically viable.

100% this. We have to take steps to shape the system in a way where even the *greediest* of people will have to act in ways that benefit the **whole ecosystem** rather than slowly milking it to its death and forcing everyone else to either follow suit or feel like they're being left behind and wasting time when others are just aiming to maximize their own short term profits with minimal effort(read: zero)! I'd guess it doesn't take long for people to change camps, I know I'm selling almost 100% of my votes now after vocally being against bidbots since the day they appeared. I've read from all over the place here on Steem, how active members are sad that they aren't actively curating anymore. I know how that feels, I'm a bit gutted as well, this isn't the Steem we were promised at all. And if you're asking why these people don't just curate, what's stopping them, you might want to spend some time pondering how this current situation affects individuals over a long period of time. I've been active Steem member for around 2 years now and I've regularly browsed the trending, it's never been stellar but back then it was other members voting for people rather than literally anyone being able to buy the top spots (these days this is required actually) without any community support or content discovery happening. We're being shoved bad content down our throats... As you can imagine, I'm not checking Trending daily anymore.

We've all heard the saying one bad apple spoils the whole barrel, and we're seeing that in full action here on Steem. Majority of stake is selling their votes passively, content discovery is minimal and manual curation just isn't happening because *it isn't worth it.* Just look at our "trending", is it something to be proud of or does it show that proof-of-brain exists on this platform, like at all, and that should be our main attraction! (See reddit as an example here). 

I'm not sure about anyone else here, but I'd like to one day use Trending to actually see the best content submitted to our blockchain, that's actually worth reading and sharing to others (read: interesting, quality content rather than just another ad or an attempt by the author to benefit from their readers in some way). 

If we can't accomplish a trending that's actually attractive to outside visitors, this place is doomed in the end. I could go on and on why this is so important but system that's fair will attract people over something that is not. Steem has always had a hard time representing itself as a fair system, fixing these issues would help us immensely in building our reputation back up again (It's never been high, let's fix that).

Seeing all the changes Eli has done and her leadership makes me hopeful, this post is showing that you guys are ready to truly lead this ship and I really like that. We've needed a captain since Dan left!

This isn't the first lengthy post from me on this issue, and probably won't be last either as long as I own some Steem and care about the future of this decentralized social media platform.

***Let's make Steem great again!***
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@ew-and-patterns ·
$1.18
Thank you for this!
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vote details (3)
@igster ·
If you read the whole thing, thank you!
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@masterthematrix ·
$0.02
Nice rant, but honestly your just saying the most obvious that everybody already knows and is experiencing here on Steem. 
The question of this post, from our lovely Steemit Team, was how to fix the problem? 
I don't read any solution from your comment and still its trending on top of all others. 
Its not only the reward mechanism that makes Proof of Brain sometimes odd, its also the narrative of people that they like rants more than solutions.
I would like to see a comment on top that provides are real alternative to the current reward system and  not just the overall repeated mantra of problems that we are already aware of.
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vote details (1)
@igster ·
Oh, sorry. This topic has been discussed over and over again by several members of the community for a long time now, so you tend to forget not all are educated on this topic. The current issue is that passive vote selling is the most profitable thing to do here, so we need to increase in any possible way an active involvement. Increasing curation rewards and adding a seperate downvote pool has been suggested for year or two now by the community, I think those are first good steps towards better situation. With these additions we'll see more curators and they'll be pushing good content up and bringing bad content to where they belong, making buying content to top not so profitable. I've probably seen and forgotten many other good solutions also... It's been a long time. Finally it's nice to see that the Steemit Inc is ready to acknowledge the problem, or to say it out loud rather.
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@raj808 · (edited)
$0.28
**I wrote a post about this as well as a bunch of comments on this post but due to my (perceived) lack of rep (replace that with stake) they all went pretty much unnoticed. So my only choice is to insert it all here in the hopes that by piggybacking on this comment someone might actually engage with the ideas I'm trying to get across. The fact I have to do this at all highlights the problem even more. Basically, in a nut shell my post is exploring the idea of if 50/50 would make it possible for curation guilds (such as [@OCD](https://steemit.com/@OCD) & [@curie](https://steemit.com/@curie)), or communities to offer comparible ROI to people delegating, by paying delegators with curation rewards? I feel like this is the key to the problem, as it could put millions of SP stake to work (from those who only want to have passive ROI) doing what steem has been promising, and failing, to deliver; rewards based on quality of content. Although I've been on steem 20 months I'm not the most technically minded person so I don't know if my theory is even achievable. I'd be interested to hear anyone's thoughts on it. Here's the post in full of anyone is interested.**

---

**Steem Bot Colored Dreams - 50/50 to Save Steem?**

**The Preamble**

This post is an amalgamation of several comments I made on a [@steemitblog](https://steemit.com/@steemitblog) post which is showcasing a community proposal that [@kevinwong](https://steemit.com/@kevinwong) and [@trafalgar](https://steemit.com/@trafalgar) have been pushing for the best part of a year. I've re-written, edited and formatted my comments into some type of sense I hope.
I was first made aware of the steemit.inc blog post by a post on [@kevinwong](https://steemit.com/@kevinwong)'s blog called Feeling Good About Steem Again! Here's My Side of the Story.

> One may argue that we're much better off going for one person, one vote, or having zero curation, or focusing on improving culture instead without an economic reform, or just wait for SMTs to try everything under the sun. Not saying they're 100% the wrong solutions, but they're just simply beyond our mission statement here to bring about the greatest benefit for the network and at the lowest cost possible.
> 
> The 4x rewards gap between curating and self-voting / vote-selling is simply too large. We just need to fix this in order to have a platform that works.
> <sub>Quote from kevinwong's blog</sub>

I agree that that the system needs fixing asap and thanks for making me aware that these issues have finally been taken up by steemit.inc.

I've spent most of my 20 months here pretty pissed with what I see as the short-term mentality of many people on steem. This post is my unadulterated opinion on the issues that steem faces, and if it brings down the dogs of war upon my low level dolphin ass, I no longer care! We are nearing the point of no return, and I personally will no longer turn a blind eye to the shit show that certain steemian's greed, and reward pool rape, causes to steem's long term growth. This is my investment too!
Before I get started, I would encourage everyone to read the post from steemit.inc and this post - Reward Curve Deep Dive from [@vandeberg](https://steemit.com/@vandeberg), Senior Blockchain Developer at Steemit. Although it boiled my head, it did give me some understanding of the way that the reward curve can effect how people vote and game their voting practices.

**WTF is the Problem raj808, Just Simmer Down!**

Nah... my blood has been boiling over this for far too long. I'm neither a coder or a blockchain expert, but I attempt to give a possible solution to these issues below! I don't know exactly how it could be achieved, but I do know what the problems are and their implications.
I've read through over 100 comments on the steemit.inc blog post from a diverse set of users ranging from people who perpetuate vote-selling, to old school steemians who've been pissed at how steem's economic system has incentivized this leach of value for a long time. It's undoubtedly a complex issue. I've only been around 20 months, but I've observed a few home truths.

The way things are incentivized on steem works to drive away the people we want to encourage to stay to fulfill steem's original value proposition. Good content creators are driven away by vote selling and whale circle jerks. It's that simple.

I can only speak from my perspective but I've been writing less and less high level content on steem because it's simply not worth my time! An article that takes 3-6 hours to write, research and edit is not worth my time at around $2 max (average) return with organic votes. Even in a best case scenario this turns out to be a pay structure of around $0.50/hour. It's very important to understand that all of this is not me self aggrandizing, I have a choice in what I produce. But the only way to encourage bloggers using WordPress, YouTubers and serious freelance writers from places like medium onto steem, is to have a platform that consistently rewards based on quality and this is what my situation exemplifies. There is no way those people will come here and stay! If we could achieve a system which encourages those writers, YouTubers and freelancers, the influx of users would be immense. Possibly some larger incentive to power up steem might be needed to balance the downward sell pressure. But I really don't think it would be an issue in the short term.

In this scenario there would be a grace period where speculative interest would drive price up with a large influx of new users. That grace period would be a natural time for intelligent marketers to build services that allow mainstream businesses to tap into the growing audience through staking steem and providing incentive for content creators to perpetuate their narrative. We already see this on a (relatively) small scale from entities such as [@utopian-io](https://steemit.com/@utopian-io) [@steemhunt](https://steemit.com/@steemhunt) and [@oracle-d](https://steemit.com/@oracle-d). Imagine the draw for bigger companies etc if steem had, and retained, millions of users.

The price of steem increases with the demand. This will not happen with a diminishing, and increasingly dissatisfied audience of content creators. At the moment they're all either leaving, or if they can stomach the insulating levels of payout on posts, then they're increasingly cashing everything out as they have no confidence in the system! Or, they give in and buy votes, or start putting less effort into posts, or both. This issue with trending, bidbots and vote buying is creating negative marketing for the whole ecosystem.

Short term gain to a few people at the cost of many people and the overall price and perception of steem currency/blockchain.

But will, 50/50 change anything?

If these proposed changes can make curation a better ROI than delegating to bidbots then there is a chance, as this is the only thing which might restore faith and bring huge numbers of users back (and keep them retained) to steem. It is now or never. There are far too many people raping this economy for short term gains and as [@trafalgar](https://steemit.com/@trafalgar) has pointed out...

the best we can hope for is to try and incentivize good behavior before steem disappears further up it's own ass.

Ok, I'm paraphrasing a little 🤣😉

**That's Impossible Raj808, You're an Idealistic Fool!**

Maybe, but I don't think so and inaction garuntees only one thing... more of the same. My question to anyone with that opinion is; why are you so against trying a new economical system when the one that we have now is so obviously driving the whole platform into the ground?

**A Possible Solution?**

My hope is that if curation is made more profitable, communities and curation entities (like [@curie](https://steemit.com/@curie)) will be able to offer better ROI through delegation to their manual curation efforts than vote buying services. This scenario would cause about a virtuous cycle, where passive investment helps encourage and grow the community.
I'm currently using OCDB out of sheer frustration... But it's my hope that if this system I describe above came to pass [@ocdand](https://steemit.com/@ocdand) [@acidyo](https://steemit.com/@acidyo) would scrap the bot and simply return to curating and rewarding based on the old model. In this scenario, curie, ocd and various communities would be empowered to properly reward quality content.

Steemians would be incentivized to stay and improve the overall quality of steem through their content. Those wishing to earn only using a passive investment model would earn their return on the 50% curation rewards as well as hopefully trail-voting the community or curation entity.

Would this be so bad?

This is the win-win that really could make steem everything that was envisioned in the whitepaper. With much larger delegation to these non-profit curation guilds, reward mechanisms could be set up to encourage content that is average, and this would create that virtual cycle that I mentioned, as those steemians strive to improve their content creation skills and earn the higher rewards. Yes, whales would still form circle jerks, gaming would still happen but most importantly user experience in this scenario would increase and we wouldn't have this steem echo chamber that is currently the status quo, where the majority of people seeing substantial support or reward, beyond stake, are people involved in community admin roles or political lobbying.

The only downside I can envision with this, is that it somewhat centralizes the reward mechanism giving a lot of power to curation guilds and communities. But large stake holders still have power to remove their delegations in cases of disagreement or unfair practices. I've been a [@curie](https://steemit.com/@curie) curator for 15 months and I know the level of quality control that organisation uses in accessing exceptional content. To my mind it will be hugely advantageous to evolve the financial mechanisms of steem to drive the passive investors to earn ROI from growing steem's user-base and potential audience.

**Why Vote Buying is the Problem**

I've touched on this above, but lets clarify to finish this up. Those, so called, services take a huge amount out of the pool without ever creating any intrinsic value. Unless you labor under the delusion that there is value in largely low quality content achieving fake standing.

Even if you're against rewarding quality content for its own sake, you should still recognize the damage that the current economic model creates. There are businesses on steem, such as steemhunt etc, trying to build genuine marketing/advertising use cases for serious investment in steem. Yet the vote buying/selling economy drives most new users (the potential growth of steem's audience) away as soon as they figure out what is happening. This stifles any chance of further, and larger, positive investment in this space. Why would anyone invest big, buying millions of steem, to try and incentivize a none existent audience?

There is currently far too little consideration and concern for the small users on steem and what they represent. They are the audience for development (new games or dapps) or potential businesses thinking of building on steem. The users, and their user experience, are what will make or break long term success and at the moment steem is not a pleasant experience for most new, or existing, users. Anything that systematically destroys user experience is counter intuitive and should be weeded out asap. If 50/50 curation/author rewards could even come close to achieving that, it would be worth it in the long term, however painful it may be in the short term.

I've read a lot of opinions stating that we need to ignore all this and steemit.inc should just focus on SMT and Community development. I don't agree. SMTs without a solid coin and Blockchain economy functioning to limit attacks on steems use case, will simply become another mechanism of abuse by bot owners and vote farmers. It would end up like a never ending spiral of tokens perpetuating certain agendas. The irony being that many community SMTs may be created to try and address the balance but their value will be dragged down by closed communities (circle jerks) building hype and inflated value through carrot/stick mentality. This would further drive down the price of steem as a token if the SMT economy gets built on a broken steem economy. The problems of the original will end up being reflected in all the SMT tokens.

It's important to get the ship in order (steem reward mechanisms) as well as inventing new ways to power said ship. If the holes aren't patched up now, the ship will sink regardless of any shiny new outboard motor!

**Thanks for Reading.**

---

**A lot of this post is me dealing in hypothetical scenarios, which is why I'd be interested in hearing any feedback on those ideas. Because the reality is that if 50/50 happens without some mechanism to drive the passive investment crowd to delegate to entities that will manually curate good content creators, then all that will happen is massive circle jerks between users with comparible stake.**
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vote details (2)
@stevescoins ·
$0.04
>I know I'm selling almost 100% of my votes now after vocally being against bidbots since the day they appeared

I've gone back and forth on this issue, and I have both bought and sold votes, and I've frowned on it in the past...it's hard not to get into this game when you see rather banal posts making hundreds and all the top votes are bidbots.


BUT...

The value of STEEM is based on whether people want to buy it or not.  Holders of the coin (and of SBD and of SP) are only going to value that stake if it is profitable.

So from the beginning, the central argument is that holders of SP *get to decide how they use their own SP*

Obviously there is going to abuse of that power; humans gotta human, after all.

I don't think that system changes are going to change the problems here;  my guess is that we need more whales to diversify the vote power...true decentralization.

A second problem is that content value is subjective.  I see posts I wouldn't spend a cent on make good return from people that value that content.  Remember the old NSFW content  argument?  

I'm not a popular writer (*not claiming that I should be either*);  most people don't find value in my work, and I don't think there should be any mechanic that forces others to vote for it (or conversely, to prevent others from voting for it, if I was a popular writer)
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vote details (4)
@igster · (edited)
>  I don't think there should be any mechanic that forces others to vote for it (or conversely, to prevent others from voting for it, if I was a popular writer)

Where have you seen people discussing about mechanics that would force people to vote certain content or not?

What people have been asking for is more rewards for curation, a seperate downvote pool and other ways to actually make it worthwhile for humans to interact in Steem ecosystem rather than just sell votes passively and get their rewards for doing so.

> So from the beginning, the central argument is that holders of SP get to decide how they use their own SP

This doesn't mean we shouldn't tweak the system rules so this place actually becomes an attractive for normal users and we can actually start competing with major social media platforms...
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@richatvns ·
$2.56
right so advertising would put money in the pools attract many more users and actually generate more content.   Because natural following would bring advertisers to specific authors.   If a I user wants to opt out of the advertising they need to pay a small amount of dust each day.  Essentially you need some small locked up steem.

I'm not saying fill the page with ads but a smaller header, and footer and a simple sponsor's ad on the right hand under a outliner plug-in.

In addition there should be plug-ins addable to the interface which are sponsored.

It would alleviate the costs, and incentivize new content producers to join the platform.
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vote details (41)
@valued-customer ·
$0.05
>"...holders of SP get to decide how they use their own SP."

There are ways to create incentive with code, and this OP is an attempt to tweak that behaviour with code changes.  This does not tell people how to deploy SP, but simply changes the environment in which they deploy it.  Tweaks are insufficient IMHO, and we need to eliminate incentive to degrade curation for financial return completely.  We don't need to force water uphill harder.  We need to use gravity to our advantage.  

As to subjective interpretation, I think we agree that is what makes society valuable.  Our interests are improved and extended by those our our fellows, and few would want everyone to simply agree with them all the time.  Hell, I'd kill myself if I didn't have problems, challenges to surmount, or were denied that social benefit I desire most: criticism that enables me to stop being wrong and change my mind.

Thanks!
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vote details (3)
@trafalgar ·
$0.21
Absolutely agree with your description and analysis of our problem

Good economic systems force bad people to do good things in order to be profitable, bad economic systems force good people to behave badly to profit. 

We currently have a huge problem of misaligned incentives: we're rewarding people the most to do something we don't want them to do: content indifferent voting. Whether it's self voting or vote selling, it undermines the content discovery and reward value proposition of the system yet we're paying all the stakeholders 4x as much to do this than to curate honestly. Insanity

This is very fixable and I'm glad Steemit Inc are now looking into this, it really is the #1 priority, well above SMTs, communities etc. And it is also relatively easy compared to the other projects.
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vote details (12)
@clayop ·
$1.01
I agree with you that we have misaligned incentive system, and think your suggestion would create better economic mechanism. However, it won't be the perfect system. There are still, while fewer, people to self vote in order to take all author and curation rewards.

Then, what do we answer to the new guys who seek maximum profit from the broken system saying they won't stop until the system fixes the hole? There will always be these sort of people.

The crux of problem is a mixture of rewards; investors want to maximize profits using contents rewards, and contents creators are competing with investors on the same resource.

I think we'd rather have to focus on SMT and separating the heterogeneous incentive system, and do experiments using different parameters with each SMT.
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vote details (6)
@igster ·
$0.02
Yes, it's been painful being an active Steem user ever since bidbots came around. 

I'd also welcome people to think how much more valuable and in demand would Steem Power be, if people could really affect what content gets the spotlight with it. These days it's all about bidbots when it comes to top 20 spots in trending.
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vote details (1)
@jrcornel · (edited)
$0.05
While I agree that the current system is flawed, I think it needs to be "fixed" at the SMT and community level. A separate downvote pool likely will end up doing more harm than good in my opinion as it will most certainly be abused and overall end up driving more people away than any perceived good it might do.
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vote details (10)
@mattockfs ·
Relatively easy to get horribly wrong as well I'm afraid. I agree fixing the problem should have higher priority than SMT (and slightly lower priority from getting rid of TTPs. I'm afraid thoug that this particular solution might actually end up doing more harm than good. 

The curve, while not a specifically bad idea creates the appearance of increased social injustice.  The higher curation revenues work against attracting top content providers to the platform and are likely to drive more content providers away from the platform. Not much sense curating without content. The downvote pool is a futile measure when the main problem with non-functioning self correction lies in the retaliation culture and the failing reputation system that allows crap content creators to bid not themselves bulletproof.

Yes, these issues need to be addressed, but no, not with this proposal.

I think though that it is great this proposal is here now to spark public debate. Next step I hope is to ask the community for alternate proposals.

I tried for one [here](https://steemit.com/steem/@pibara/improving-the-economics-of-steem-a-counter-proposal), and I think it would be great of others would do the same. Get them grey cells working and keep the debate going untill we find a set of measures that have the highest probability to actually work.
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@richatvns ·
You guys, are like the cabana boys on the titanic moving around deck chairs instead of bailing out water.

The problem is not the economics, it is simply the barriers to use, the inability to classify and search, the lack of good graphics and standard simple wiziwig interfaces.  No tutorials, long onboarding, and simple ability to dress up a post like every other blog site in the world for the last 20 years.   The constant talk about rewards is not what brings people to youtube, facebook, instagram, or any other site.... It's the content and the ease of use.   Simply put the UI and UX.  The User Interface and the User Experience.....    I joined 2 years ago and have had more people attack the group I've built up and more than 2/3rds of the people I onboarded left and will never come back because of a myriad of reasons.....NONE OF WHICH WAS THE CURATION AND AUTHOR REWARDS..... In fact, the fact that whales have been scared off the platforms for purity reasons by the pack mentality here has been easily the biggest impediment to growth, of a blockchain that has great bones.   

It's fast, has a built in payment system, is easily programmable and actually serves a purpose of storing content.  I suggest everyone stop focusing on the reward system and work on how to make an UI that truly classifies content (not with 5 worthless tags) is searchable and create an enhanced editor and display front end for it.   That's what needed.  People need to deal with feeds more effectively and have bookmarking through a outliner built into the system.  Which can then be used to classify content.  Kinda the way that google uses vectors in the back end of it's seach to find related content.    But you guys are simple blockchain geeks and not systems architects of systems used by real people.

That's my 2 cents.....  

![RichAtVNStagline2.jpg](https://cdn.steemitimages.com/DQmY873BcLUrrSENJEmfuU74rADpQAWHcFfSkhBpou9YtCh/RichAtVNStagline2.jpg)
👍  
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vote details (1)
@valued-customer ·
$0.02
Please consider my reply to the OP below, as I completely agree that we need to create appropriate incentives to promote beneficial behaviour, and reckon I've come up with a nominal solution that doesn't just tweak the rate at which ROI is extracted from rewards.

I'd appreciate being set straight if I'm wrong, and your thoughts on improving my raw proposal if you agree with the principles I set out there.

Thanks!
👍  , ,
👎  
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vote details (4)
@valued-customer ·
$0.04
>"We cannot eliminate such behavior entirely, but we can make it less economically viable."

I think that we can indeed almost completely eliminate such behaviour, with appropriate incentives, and do far more than merely reduce it's impact.  While some folks will do irrational things (as do I, by not delegating to bidbots) few rational people intent on prudent finance will act contrary to their financial interests.  I hope I'm not irrational, but merely more highly value other metrics than financial.

Tweaking the rate at which profiteering extracts rewards intended to promote curation can tweak that behaviour at best.  We can eliminate incentive to do so altogether, and we should.

Thanks!
👍  ,
👎  
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vote details (3)
@iflagtrash ·
I flag trash.  You have received a flag.
👍  
👎  
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vote details (2)
@igster ·
Well said and I agree to the part that we should try our best to atleast try and incentivize the behavior we want to see to the fullest rather than just watch by as people create services like bidbots which totally alter the ecosystem in, what I'd say, a destructive way.
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@ikrahch ·
Can you guys tell the final date of SMT? Please 😈

Posted using [Partiko Android](https://partiko.app/referral/ikrahch)
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@dana-edwards ·
They wont which is why I'd rather they fix the economics. I want SMTs too but if no one uses the platform what good will that do? Also no clear roadmap to SMTs released.
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@ikrahch ·
I dont know why they are delaying or not taking this seriously. No clear explaination..
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@indextrader24 ·
Downvotes should be abolished - as long as the propblem of market power hasnt been solved.

Downvote with market power is able to destroy accounts and is leading to cencorship.

To reward such censorship of free spech is a bad sign here on steem, if you are not limiting or abolish the abuse of downvotes by ill brains in the community.
👍  
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vote details (1)
@inertia · (edited)
$1.73
![what if i told you you already have an incentive to downvote.jpg](https://cdn.steemitimages.com/DQmcsFnpQ6CvjjM9T12HgTq2kcSJogZbTFPDzVh1qxJxJS4/what%20if%20i%20told%20you%20you%20already%20have%20an%20incentive%20to%20downvote.jpg)

By the way, the whole point of communities (backed by SMTs) was to avoid the need for STEEM itself to implement "what if" scenarios.
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vote details (15)
@clayop ·
I 100% agree with you as said in my comment. Also I think there are some more merits focusing on SMT instead of many "what if"s
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@krnel ·
$0.35
Yes, bring in the SMTs and Communities 100% x infinity before going ahead with these changes. Do that, then see how better or worse things get. Priorities. SMT. Communities.
👍  , , , , , , ,
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vote details (8)
@oldtimer ·
$0.21
Yes.
👍  
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vote details (1)
@smooth ·
$0.19
> What if I told you ...

Then you would mostly be wrong. There is an extremely weak indirect incentive, but there is also an extremely strong direct disincentive. You can't properly understand the system without considering both, and in doing so it is clear that the latter mostly overwhelms the former, both in theory and in practice.

This coming from someone who has probably downvoted close to the most of anyone in Steem's history.
👍  
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vote details (1)
@jaki01 · (edited)
$1.04
1.: I would clearly support a convergent linear reward curve!

2.: I could live with higher curation rewards, even if I don't support it:
It's hard enough for new users anyway: to create an account, have enough RC for upvoting and answering comments, earning any small amount with their posts. It would get even worse! And if then for example I would be one of the few upvoters of such a small new account I would get a big part of the reward myself (as curation) instead to be able to give it to the author ...

I really like to curate already NOW with only 25 % curation reward if I find good stuff (I don't care when I vote and who else did vote). I curate because I like what I see. I think the voting behavior of people who are curating this way wouldn't change much with higher curation reward. I guess only people who curate just for earning money, most of the time in an automated way (without reading what they curate) would be affected by this change. And they still wouldn't support new users anyway. Thus they still wouldn't support the growth of the platform.
To my mind, this kind of voting behaviour, which is geared towards short-term profit, only apparently leads to a higher return on investment: although more STEEM is acquired, the STEEM price is reduced by lowering the attractiveness of the network for the majority of users and thus also potential investors. I would like to forego earning even one more STEEM if I knew that this would raise the STEEM price to 20 euros in the long run ... :-)

3.: As I have already stated in <a href="https://steemit.com/steem/@jaki01/my-steem-vision">My STEEM Vision.</a> (I would appreaciate you to read the full post), in my opinion the suggestion to provide each user with a certain number of 'free downvotes' (by adding a "downvote pool") so that spam (or overvalued posts) would be flagged more frequently in the future, wouldn't really make a big difference under the current conditions. I assume that only whales flagged more often than before, while smaller accounts would still not dare to do so for fear of retaliation.
As I have described in my post, I think flaggs (downvotes) are an important part of the STEEM ecosystem, but at the same time users should be protected against 'despotic' flagging.
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vote details (12)
@jondoe ·
$0.03
I think this would be a terrible idea. If these changes go through I think there is even less incentive to hold steem power. No one wants to come on here and spend hours "curating" the 10 "best posts" each day, literally no one. Get SMTS and communities done and let them decide their own economic systems. 

Oh and a free downvote pool will get abused 100% guaranteed in that it will create downvote wars and people downvotinng people simple because they don't like them, irregardless of content. We have enough trouble keeping people here, if you make this place more toxic, you will have an even tougher time keeping them.
👍  , , , ,
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vote details (5)
@joshman ·
$0.02
You could also consult with economists...
👍  
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vote details (1)
@jamesbrown ·
The only problem with this is that they (the economists, themselves) are the only people who really consider themselves to be "experts" and there are a million contradictions between the million of them.  Similar to the "scientific" field of psychology, it boarders more on philosophical debate than it does actual, objective facts.
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vote details (2)
@joshman ·
Instead we get the software developer solution. This is akin to altcoins swapping algorithms to stay ahead of ASIC miners. Instead you are changing rewards to stay ahead of bots. People will still be incentivized to game the system and will adjust their methods accordingly.

Posted using [Partiko Android](https://partiko.app/referral/joshman)
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@kevinwong · (edited)
Try to separate microeconomics and macroeconomics. Micro is the scientific approach, which is what we're looking at here i believe. Macro is typically scientism / political bs. https://twitter.com/naval/status/1063865801147465729?lang=en
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@jrcornel · (edited)
$1.38
I would rather see SMTs launched and then communities able to implement their own economics within their own communities.

I don't think changing things on steemit.com does much good at this point. I would rather just wait for SMTs and communities and let them set their own economics, maybe even eventually exploring an SMT for steemit.com itself at some point.
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vote details (8)
@jrcornel ·
We are bringing this up now? I would rather just wait till SMTs and communities and let them implement their own economics.
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vote details (10)
@trafalgar ·
They're not diverting dev effort and delaying SMTs or Communities for this, as stated. However I myself do believe it's of paramount importance: 

> Imagine how good SMTs or Communites would have to be in order to turn this place around if our economic incentives continue to force people to spam, self vote and sell votes. Realistically, what are the chances of Steem based SMTs taking off to the point where they're not just successful themselves but can carry the failure of the entire ecosystem when Steem is spirally down in CMC charts and Steemit is dropping Alexa ranks because there truly isn't any reason to be on a platform whose front page is a dumpster. SMTs and Communities would need to be impossibly, unfathomably good.

> Now imagine how good a more reasonable economic system would only need to be to fix this. It just has to make an intelligent attempt at aligning better rewards with behavior we want, such as people to actually vote based on their subject opinion of a contents appeal. The answer is economic reform just has to be sensible. This is by far the most important and most cost effective change we can make.

> It'll only be a small exaggeration to say that @Vandeberg could probably bash out a pretty sound economic system in an afternoon (maybe a week). Yet this would be the one change that would totally turn this place around. Not only that, a functioning content discovery and rewards system would greatly magnify the value of all the other initiatives. SMTs, Communities, Marketing. They won't get us far if our core value proposition is the one thing we're failing the hardest at.
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vote details (2)
@jrcornel · (edited)
$0.02
I didn't think they were, I still think it should not be done now. Apart from the reasons mentioned that I think this should all be done at the SMT level within communities, I do not support a free downvote pool in any way. There is no chance it will be used responsible or reasonably. Bullies will downvote people they don't like day in and day out, because they can. This line of thinking is fundamentally flawed overall because people don't want to spend all day, every day, coming on here and searching through hundreds or thousands of posts to upvote "the best" each day.
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vote details (11)
@jwolf ·
@trafalgar is 100% right. 

Economics are most important than SMTs right now.

I hope this can be solved even if it will be hard because most of the witnesses have bid bots and won't agree :)
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@kabir88 ·
How much work would it take to create a slider that allows authors to decide how much of the rewards to give to curators?
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vote details (1)
@king-oghie ·
$0.05
Am outrageously excited about the new changes on Steemit. To make the platform more of social-media, wouldn't it be nice if the team could add a feature by the side of the resteem button showing the exact number of resteems a post has (if at all anyone resteemed that post).  Just an idea though @steemitblog @ned
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vote details (1)
@kingrefat ·
I support all these things together . #change my mind @steemitblog.

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@krnel · (edited)
$0.70
> Moving from a linear rewards curve to a convergent linear rewards curve.

Wha tis the threshold, Is there an example of how this would work? It's pretty vague.

This essentially empowers the popular accounts to get more rewards because they get more votes, while those who are less popular will get less rewards than they do now since only hiugh SP superlinear voting can give them significant rewards at a lower vote count.

Coupled with changes to curation which is to motivate people to curate through financial incentives, the way curation is done is already highly geared towards financial incentives, i.e. people are motivated/incentivized to vote in order to get curation rewards by voting for posts that get higher rewards.

When you reduce the curation rewards that will be obtained by voting for content that is not highly rewarded, this motivates more people to the incentive to vote for the popular highly rewarded accounts (more so than now). If they vote as they do now on less popular content, they will get less curation rewards. They will thus be more inventivized to go vote for more popular content in order to match the the relative curation rewards they used to get. Unless the curation reward increase is enough to offset this, those who vote on less popular posts will see less curation rewards due to the superlinear rewards allocation. But even then, the more popular posts will generate even more curaiton rewards compared to less popular posts.

The more powerful accounts will have more influence over who is rewarded through superlinear voting. Finding or rewarding "quality content" will be determined by the "whale" class once again. Or by the new "whales", the vote selling bots and their vote buyers. You won't need quantity of upvotes when you can just buy a vote. Won't this increase more authors to buy votes since they will be getting less rewards with the curation reward increase and the superlinear reward change?

Curation rewards are nill to most users until they have enough SP. That's the majority of users. Those who beenfit the most from higher curation are the higher SP accounts.

Didn't Ned speak in favor of vote selling in the past? If this is a problem as mentioned above about passive delegation to bidbots, why isn't that being targeted directly?

Vote selling and buying will still be around with all these changes, and those who buy votes buy the packing on of votes (quantity), which this quoted change will simply increase their rewards. Meanwhile, the people who aren't buying votes will have less rewards go to them through reward pool allocation.

If implemented, will any of these changes possibly be reversed? If so, what will determine if they are to be reversed? What will determine if it is a success and should stay?

> Create a separate “downvote pool.”

I don't agree. Some don't have any issue flagging people because they don't like the author or their posts. Rewarding this behavior simply incentivizes more malicious behavior, as they will be rewarded for doing it.

All these changes will likely be implemented anyways, despite objections about the negatives they can (or will) bring. I hope changing things back can be done quicker if the negatives happen. Though changing things back hasn't been something done quickly on Steem before, so I doubt that will be the case. Has anything ever been changed back before?...
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vote details (11)
@anthonyadavisii · (edited)
> Didn't Ned speak in favor of vote selling in the past?

Indeed. IIRC he called it an interesting business model or something to to that effect.

That, my friend, was a catastrophic fail of both leadership and ethics imo. He could have readily nipped that problem in the bud long ago.

Tbh it is one of the single greatest reservations in investing in the platform. [@ned](https://steemit.com/@ned) giving vote selling a nod  and now their kind are basically running the ship.

I don't know what kind of cognitive dissonance some of these stakeholder must be experiencing. They have been  selling votes for their financial interest instead of fostering an economy that encourages meaningful contribution. Now they suddenly think 50/50 is going to change the dynamic?

No. The incentives will still favor vote predictors / curation snipers over people actually evaluating content.

And free downvotes? Don't get me started. The most vocal advocate for this is one that self votes his alts all the time. Now they want free downvotes? Why? So they can downvote competitors bid bot posts and not lose the opportunity those precious proxy self vote opportunities? Or maybe they just want to downvote actually trash to virtue signal while proxy their trash.

Bunch of damn hypocrites if you ask me.
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vote details (7)
@clumsysilverdad ·
$0.10
ty, I've heard a hundred of these discussions, but there is never anything approaching consensus... kind of grinds on the community
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vote details (3)
@oldtimer · (edited)
The only important consensus is between steemit. inc and witnesses.
Luckily.
👍  
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vote details (1)
@smooth ·
$0.11
SPS will be a big improvement since we can have stakeholders directly vote on proposals and see where people stand relative to consensus in an objective way.
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vote details (4)
@therealwolf ·
$0.03
> I've heard a hundred of these discussions, but there is never anything approaching consensus... 

![](https://cdn.steemitimages.com/DQmaPJVZ3EgKsScavJrjQfGMYDYFi78AeLZSfyRE9Abhq1K/image.png)

---

Everyone can voice their opinion, but listening to everyone is a fools-plan. Sometimes, it's better to listen to experts and just do it; and if it didn't work out, revert it back. (not saying that decisions should be rushed)

But this is simply a learning experience in a decentralised community such as Steem. Coming to decisions takes simply much longer than it would take in a centralised company.
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vote details (2)
@ew-and-patterns · (edited)
$1.21
100% agree. Such fundamental changes should be automatically rolled back after a predefined time period, UNLESS the community votes to keep it.

I also think trafs logic is not correct. In my opinion, it only benefits the whales, everyone else loses influence, income, and incentives to post because the curators get a bigger share. 50/50 is nuts...
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vote details (6)
@therealwolf ·
Whales can only benefit from curation if they own enough Steempower. Which is what this platform needs - more reasons for stakeholders to buy STEEM & power-it up, instead of selling since it's not really needed anyway (due to the implementation of delegations & co.)
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@trafalgar ·
My very rough guess is that right now, around 70% of active steem power is redirecting rewards back into their own pockets through either self voting, voting selling to bid bots, spamming micro votes or some other means

This is because the current economic system pays stakers 4x as much to undermine by platform via the above means than to take part in honest curation. We've long passed the point where big stakers can keep each other in check with downvotes because we understand we understand that if any individual staker chose to use their voting power to downvote someone else, not only would it deprive themselves of the opportunity of claiming that reward for themselves, most of the rewards rescued will just be redistributed to others engaging in the exact same actions.

75% of author rewards might sound like a lot, but in reality stakers are claiming both the author and curation rewards of their own votes leaving pitifully little for actual content creators, irrespective of how good their content is. The paper value of the split doesn't matter if none of it goes in the right direction: that is gradually from the stakeholders to the talented content creators via inflation like it is intended. This isn't happening at the moment because our economic system isn't sufficiently incentivizing the stakers to vote honestly, thus the plead for EIP.

I actually want the maximum amount of rewards going from stakers to authors in an honest way at a steady rate. Because the part that goes back into the stakers pockets is redundant; making a inflationary coin just for everyone to reclaim is silly unless it serves a purpose: if it sufficient motivates stakers enough to actually find and reward good content.

Raising curation from 25% to 50% will mean authors will suffer a 33% on paper decrease in rewards. But 50% of an system where votes are mostly honest is vastly more than 75% of next to noting because the money just gets shoved back into stakers own pocket. So in practice, the idea is to get much more money into the hands of authors.

Economic system is not about the naive direct effects of a change, it's about the result at equilibrium. We can make author rewards 100% but if all the large voters just get that money back for themselves, authors see none of it and the system fails. The entire idea behind EIP is to make it more profitable for voting honestly (higher curation) and less profitable to do otherwise (threats of some free downvotes)

Of course if curation was 90%, most of us stakers would vote pretty honestly, but they'll be too little rewards motivating good authors to create content. So you see, it's an optimization problem of finding the right amount to mostly maximize author rewards in practice.
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vote details (5)
@florian-glechner ·
Totally agree. SMT'S and Communitys should be Top Priority. Because this is a thing that could really bring value to Steem. New ideas and Projects that could rise from this.

Posted using [Partiko Android](https://partiko.app/referral/florian-glechner)
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@justinw ·
$0.28
> Wha tis the threshold, Is there an example of how this would work? It's pretty vague.

@vandeberg's deep dive on the topic should help explain this better: https://steemit.com/steem/@vandeberg/reward-curve-deep-dive

The idea is to gain the benefit of having a curve without moving far away from linear that we currently have. It's being described as convergent linear because you quickly converge into mostly linear, it could also be described as minimally superlinear. This is drastically different than the n^3 or n^2 that we had prior to linear.

No solution will ever be exactly perfect, but we may be able to attain something much better than we have and promote the type of behavior that most user's would like to see (by making it more economically advantageous to do so).
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vote details (6)
@valued-customer ·
$0.03
>"No solution will ever be exactly perfect..."

No solution that only tweaks how corrupting curation can be profitably undertaken will.  In that you are correct.  However, code is infinitely mutable, and I have proposed mechanisms in reply to the OP here that do eliminate such corruption of curation as financial incentive, and replace that incentive with one to fund development via the SPS and @steemalliance.  

Please take the time to set me straight on that proposal.

Thanks!
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vote details (4)
@novacadian ·
>Has anything ever been changed back before?...

Self voting has been removed then reinstalled a number of times if memory serves.
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@trafalgar ·
$0.02
Larger accounts having a bigger say in the way rewards are distributed is an unavoidable consequence of stake based consensus. As much of a disadvantage as this may seem, it's one of the few sybil resistant ways that things can work in a decentralized fashion.

The idea is to get stake based voting to approximate general consensus over content appeal. This can only happen if stakers are motivated to vote in a way that consistent with their honest estimation of the general appeal of content.

Currently stakers are not motivated to do this because curation rewards are too low so they just end up selling votes or voting themselves causing the broad system failure. We have to change the economics including curation to entice them.

The phenomenon of having established popular authors gaining higher rewards is something every social media platform sees. To some degree, it's not a bad thing as people building a good reputation based on skill and talent will see increasing rewards over time. Higher curation itself doesn't solidify established authors, as there's a zero sum game between curators to vote early (but not too early) to take more curation rewards from later voters, but not to over vote due to the threat of downvotes.

Downvotes suck yes, but they're necessary to turn this place around. I'm not advocating for a separate pool the same size as the upvote pool, but just a fraction of that size so that we all have a stick to keep the other stakers honest that doesn't cost us money to swat them with.
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vote details (3)
@valued-customer ·
$0.04
>"Larger accounts having a bigger say in the way rewards are distributed is an unavoidable consequence of stake based consensus."

This is false.  It is entirely dependent on incentives as to how that distribution is effected.  Currently, and under your proposal, financial incentive will promote extraction of rewards for ROI.

>"Currently stakers are not motivated to do this because curation rewards are too low so they just end up selling votes or voting themselves causing the broad system failure. We have to change the economics including curation to entice them."

Substituting gaming curation rewards over selling votes does not fix corrupting curation at all.  It just changes how that corruption can be gamed.  The change of economics necessary to fix the problem is to eliminate incentive to game curation altogether.  Nothing else will prevent @therealwolf from maximizing his financial returns from corrupting curation.

A critical part of that equation is financially encouraging development of Steem via SPS dividends to promote capital gains by improving the investment vehicle, and together both mechanisms I propose do that.

>"Downvotes suck yes, but they're necessary to turn this place around. I'm not advocating for a separate pool the same size as the upvote pool, but just a fraction of that size so that we all have a stick to keep the other stakers honest that doesn't cost us money to swat them with."

Downvotes are broken presently, and adding financial incentive to Bernie's efforts to censor will not fix the problems.  Look at my last 100 comments for necessary background requisite to consider how to fix downvotes.  I'm fine with how they are now, if the only alternative is making it actually profitable for Bernie to flag.  
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vote details (5)
@valued-customer ·
Well said!  I agree with you on every point of consequence.

Thanks!
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vote details (1)
@iflagtrash ·
I flag trash.  You have received a flag.
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vote details (4)
@ladyrebecca ·
$0.08
I don't doubt your intentions are good, but, the way I see it, these proposals will do more harm than good. 
The main reason big accounts generate big rewards is not necessarily self-vote, but circle-jerking, and this will go on no matter what changes you make in terms of curation. **Circle-jerking is how the system works at every level, let's be honest.**
Big accounts will still be making money... As for small accounts who barely make anything, they'll get even less.  'Come for the money!' What money are we talking about?  New users struggle to make a few cents and stand to make even less under the proposals. There is no incentive to curate posts that make a few cents. I am one of those who never bothered much with curation rewards, for the past weeks I've been voting regularly a new user with good content who makes a few cents a post. But as I stand to lose in author rewards a better strategy for me would be to vote for big accounts regularly to compensate for my loss... I might as well put some big accounts on auto-vote and be done with all curation business.
As for the downvote pool, that's tricky, too. If people used downvotes to eliminate spam and all that, yeah, that would be great. On the other hand, we could see even more downvote wars... and frankly I've had enough of them....
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@valued-customer ·
Well said.  As I find your insight substantial, would you do me the favor of reading my reply to the OP below?  I'd value your input.

Thanks!
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@iflagtrash ·
$0.19
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vote details (12)
@liberosist ·
$0.29
The fundamental issue is that on Steem, a very significant portion of the reward pool is allocated by bid bots. 

According to [Steemdb](https://steemdb.com/labs/rshares?date=2019-05-19), just yesterday, the top 5 bid bots alone allocated an astounding 27% of the reward pool. I don't have the latest numbers but in mid-2018, the last time I investigated this "organic curation" accounted for less than 25% of the reward pool. 

**Moving to a convergent linear rewards curve.** While this may show a marginal gain in visibility of profitable behaviour, it also comes at the cost of further disincentivizing the already squeezed minnow voters. Discussing with active curators and content creators, we found that the vast majority of actual, engaged contributors to Steem as a social network have low stakeholding. On the flip side, this will minimize sybil attacks, but given the insane inequality on Steem, sybil attacks are a negligible concern at best. I'll withhold final judgment till I see the exact numbers and some simulations, but for now, I'm neutral about this. It's worth the trial and error. 

**Increasing the percentage of rewards that are distributed to curators.** Whilst this may encourage the minority of organic curators to curate more, it comes at a steep cost as disincentivizing content creators. Without content, there will be no curation. I was a proponent of going back to 50:50 in 2016, but discussing the matter with the most engaged content creators on Steem over the years, I have realised this would be divisive and unpopular move. 

It'll only be a marginal deterrent to self-voting abuse. To a self-voter, they get a 100% split every time, matters not what the split is. Sure, for further voting, they'll now share more with curators who vote after the self-vote, but they don't really care - they have already cashed in the initial 100%, anything after that is a bonus. We have evidence for the type of personalities that engage in self-voting, they are often ruthless and selfish. I'm sure they would be slightly more inclined to vote elsewhere; but it seems to me their primary goal of rampant self-voting will remain largely unaffected. 

Similarly, bid bots will see marginal losses at best. Whatever they lose in bid surplus, they'll make up a significant portion (though not all) of it in greater curation rewards. The end result would be a slight decrease in net income, but nowhere near enough to put them out of business. 

Finally, the whales who are delegating to bid bots will continue to do so. Given the above, whales will see a slight decrease in ROI. I've done the maths on this in mid-2018, to make curation even in the same ballpark as lucrative as delegating to bid bots, you need to offer a ~85% curation rewards split, which would of course kill the content creation community overnight. 

Considering all benefits and drawbacks, this one's difficult. I'd be open to experimenting with a relatively conservative change in split and see what the results show. 

**Create a separate "downvote pool."** I'm all for enabling downvoting, but I remain unconvinced that a downvote pool is a sustainable solution. Users are more free to downvote, sure, but the abuser is also free to revenge downvote by the same amount. Most people don't want to get caught up in a perpetual downvote game with whales. All that said, I agree that it is a net benefit, and I would support this change pending a better solution.
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@lordbutterfly · (edited)
You should make this into a post instead of linking it. Ive been rambling about this for months now and it mostly got passed over due to sheer volume of opinions. 

I know you used to be a whale and you powered down, but there are still folks here that value your opinion. 
And then theres always a one time bot investment. 

> the top 5 bid bots alone allocated an astounding 27% of the reward pool.

Oh and .... Im pretty sure you cant account for vote selling services due to it being hard pulling data from the chain for them... or that number could be much higher for non organic voting.   :)
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@lordbutterfly ·
The proposals made by @trafalgar and @kevinwong i will describe as being by far the worst proposal on the STEEM blockchain with the largest support.
 
The consequences of such a change are extremely dire and should not even be considered. 
By giving this proposal attention like you are currently doing, you are legitimizing it. Something this proposal does not deserve in the slightest. 

There are a large number of places you can start when trying to address the Steem economics. Adjusting the split or the curve is not it. 
<b>Adopting their ideas is akin to platform suicide. Avoid at all cost.</b>

The problems of this platform stem from lack of accountability, lack of governance, lack of any kind of repressive apparatus.
**A perfect economic system does not exist. It will never exist and it has never existed.**
Only fools think otherwise.
 
People are greedy and cannot govern themselves without having tools set in place. 

**If you want to fix steem, set up the tools.**
(And filter the damn bots from Steemit trending page. You can at least do that.)
👍  ,
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vote details (2)
@lunaticpandora ·
Interesting proposals, Looking forward to what comes out of these discussions!
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@markrmorrisjr ·
This was a conversation worth having two years ago. There should never have been vote recharge not connected to some activity, whether in person curation, or preferably even content creation. it's the reason this is the first comment I've left on here in almost a year, when I was a full time steemer for nearly eighteen months, until it completely stopped being about the content.
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@masterthematrix ·
$0.66
I would like to see, that the Coin "Steem" and its "Reward Pool" will be designed more towards an infrastructure Coin instead of using it primary for POB content discovery. The reason for that this is, that with the introduction of communities and SMT the Steem Ecosystem is not only more about "Content creation" and discovery. 
No, we have a bunch of financial dapps, gaming dapps, services etc... which don't have anything to do with content discovery. All those Dapps should have more or less "equal" chances to receive Support from the underlying Steem Reward Pool mechanism to earn and empower their communities.
I think Steem is good with Steempower for Voting on Witnesses and Proposals (plus a new feature in the future Voting for Communities and Dapps) and as a source of Ressource Credits. For me that should be enough, on the level what Steem is doing to support its Ecosystem and for the use of the POB mechanism...only vote for Witnesses, Proposals and SMT or Communities.
No, more voting and abusing the reward pool by creating and discovering or gaming the content creation part.
All this POB content creation and discovery mechanism should be happening on the level of SMTs, and its communities, because these groups will have Admins who are able to set in rules how each community handles its users and the way they value content creation. 
If Steem gets understood as a infrastructure Token and SMTs are understood as a empowering Community Token, than we have a clear Vision for all participants Investors, Users and Creators alike.
I don't like the idea that we are aiming for a SMT Ecosystem where all these project fight for attention but the real mining of Steem only happens on the content side of things...somehow that doesn't make sense.
Why should other Dapps or Communities suffer from miss management of the Steem Reward Pool which is only used for content creation and discovery?
👍  , , , , , , ,
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vote details (8)
@ecoinstant ·
$0.20
This time around I fully understand it!  I tend to agree in principle - with one caveat:

> All those Dapps should have more or less "equal" chances to receive Support from the underlying Steem Reward Pool mechanism to earn and empower their communities.

The amount of staked SP in each project will determine the level of support for each d.app, give or take some cross over curation activities.  A community with 100,000 SP staked will receive 10x more of the reward pool than a community with 10,000 SP staked, and 10x less than a community with 1,000,000 SP staked.  This is in line with the 'every SP counts' system of voting, although there is currently a regressive 1.2 sp tax on distribution, if I recall correctly.
👍  ,
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vote details (2)
@masterthematrix · (edited)
$0.20
Thank you for your support.
I don't really have a fixed idea of how much of the percentage of the reward pool should go in this case to SP holders, Voting for Witnesses or SMT / communities. But it is clear that projects who hold SP in their main account will not suffer of any kind of content abuse nor abuse of the reward pool this is my main point here.
We should design the Ecosystem of Steem in the way that the fundamental structures are easy to understand, easy to apply, with clear benefit structures and to avoid abuse.
What happens on the level of SMT and communities is all up to the users and developers how they wish to handle it.
In this Vision it is also clear that Steemit.com needs to become its own SMT Project / Community by itself without the only dependence of the main Steem Reward Pool.
👍  ,
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vote details (2)
@ivanstrength · (edited)
Reducing the inflation of steem by exporting POB to SMT's sounds like an awesome idea. Keeping investors happy is one of the big reasons we are at #60 now. But I'm cashing out anyway, tired of waiting for steemit inc to have an investor friendly strategy.
👍  ,
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vote details (2)
@stackin ·
That's why dan left lol
👍  
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vote details (1)
@jrcornel ·
Yep, I agree with a lot of this. Have this be on the SMT level.
👍  , , , ,
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vote details (5)
@masterthematrix ·
Thanks for your support @jrcornel 
l'm keen to know, what the Steemit Team has to say about this.

Posted using [Partiko Android](https://partiko.app/referral/masterthematrix)
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@trafalgar ·
$0.02
Give me an example of a business that is both good for the ecosystem and whose success depends on Steem itself to not function as a proof of brain content discovery and rewards token. Or give me an example of a project which would bring value to Steem whose prospects are hindered by Steem's ability to function as a content discovery token. I can't really think of any but I'm open to the possibility

The reverse is much more likely to be true: a working content discovery and rewards platform with a functioning front page will greatly attract real users and investors. This user base can then in turn be leveraged by businesses built using SMTs and Communities which will in turn bring more value to the system as a whole.

With the Steem economy how it is currently, voting rewards are predictably used as staking returns or payment, which is precisely how they should not be used. Profit minded businesses using voting rewards in lieu of transfer are far more likely to extract value from the system than contribute any real value themselves. And it's not their fault - we simply have the wrong economic incentives in place.

If we wait for SMTs and Communities on a broken system, when our front page is in disarray due to spam, bid bots and self votes and our alexa and cmc rankings are dropping steadily, how realistic is it to expect businesses built over this rotting core be able to garner the legitimacy and confidence required to only thrive itself but completely turn this place around? You're far more likely to get a few just extracting the dwindling value of this place and then moving on to greener pastures.

The underlying economy of Steem must be fixed. They're a higher priority than anything else and require far less investment, but they're the only change that can turn this place around and infuse value to every other endeavor we pursue (SMTs, communities, marketing etc.)
👍  , ,
👎  
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vote details (4)
@masterthematrix · (edited)
Hi, thanks for your responds @trafalgar.

> Give me an example of a business that is both good for the ecosystem and whose success depends on Steem itself to not function as a proof of brain content discovery and rewards token. Or give me an example of a project which would bring value to Steem whose prospects are hindered by Steem's ability to function as a content discovery token. I can't really think of any but I'm open to the possibility

I can't give you proof of an actual business that decided not to come here, or said that they are hindered by Steem's ability to function. How should I know that? I don't run a business and I have no insight in other businesses books.
But it's clear, that the current Reward System has some fundamental problems that are effecting everyone alike e.g. Users, Investor, Businesses, the perception of Steem in general etc...
I think you gave to yourself the best answer on this point...here is your quote.
"If we wait for SMTs and Communities on a broken system, when our front page is in disarray due to spam, bid bots and self votes and our alexa and cmc rankings are dropping steadily, how realistic is it to expect businesses built over this rotting core be able to garner the legitimacy and confidence required to only thrive itself but completely turn this place around? You're far more likely to get a few just extracting the dwindling value of this place and then moving on to greener pastures."
> The reverse is much more likely to be true: a working content discovery and rewards platform with a functioning front page will greatly attract real users and investors. This user base can then in turn be leveraged by businesses built using SMTs and Communities which will in turn bring more value to the system as a whole.

I agree, but in order to achieve that we need Admins for communities who set in rules and fight Bid Bots, abuses etc... All the good stuff about POB should happen within the communities, where there is some sort of guidance for the users, or even if some communities wish no guidance. The point here is that we need competition thru out the Frontends on a plain level field where all communities have the same access to the Steem Ressources aka. Steempower and Reward Pool. Thats why I would like to see Steem as an almost "pure" infrastructure Token (Voting for Witnesses, Voting on Worker Proposals and Voting on Dapps or Communities and SMTs or SteemEngine as the POB layer where Users create and curate for content.

> With the Steem economy how it is currently, voting rewards are predictably used as staking returns or payment, which is precisely how they should not be used. Profit minded businesses using voting rewards in lieu of transfer are far more likely to extract value from the system than contribute any real value themselves. And it's not their fault - we simply have the wrong economic incentives in place.

I totally agree.

> The underlying economy of Steem must be fixed. They're a higher priority than anything else and require far less investment, but they're the only change that can turn this place around and infuse value to every other endeavor we pursue (SMTs, communities, marketing etc.)

My suggestion has only that in mind to make Steem on a fundamental level more easy to understand and to handle so that the complexity of the POB mechanism can thrive within the different Dapps and Communities.
👍  
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vote details (1)
@valued-customer ·
$0.03
>"Give me an example of a business that is both good for the ecosystem and whose success depends on Steem itself to not function as a proof of brain content discovery and rewards token. Or give me an example of a project which would bring value to Steem whose prospects are hindered by Steem's ability to function as a content discovery token. I can't really think of any but I'm open to the possibility."

The reason this is true is because the incentives are misaligned.  Any curation rewards are simply additive to corrupting curation for maximizing financial extraction, a la @therealwolf.  Only providing a mechanism that financially encourages development and improvement of Steem better than rewards pool rape will change his behaviour.  Tweaking rates will not do that, without adding another more profitable mechanism.

We need to focus investment on capital gains, not extracting gains from working capital intended to market Steem.  Capital gains have worked to grow industry for literally thousands of years.  Let's use that to our advantage.
👍  
👎  
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vote details (2)
@mattclarke ·
Really glad to see this back on the agenda. I'd prefer n2, but this is a reasonable middle ground. 
So, when can we start talking about going back to 104 week powerdowns? 
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@mattockfs · (edited)
$0.12
I thought you guys just announced being out of beta and being out of survival mode? These three proposals are impeding(1),  disruptive(2) and futile (3) respectively. 

1) Good idea but not as is and not on its own. It hurts new accounts and without a peer solution that aids new accounts, for example with rewards for pulling in advertising revenues, imparting platform growth is not a price we should be willing to pay for solving this problem. Further, see my comments on @vandeberg his post.
2) Please warn us 14 weeks before implementing this "feature". One week for retracting our delegations and 13 weeks for a full power down. This feature fucks over content providers who arguably create value for the platform, to create more revenues for bid bot owners and the like. If this feature gets implemented I'm out of here. It's a platform killer. Seriously it is!
3) Wrong solution. Instead do something about false reputation. We hardly flag because we know crap content providers will just bidbot themselves bulletproof and then once they are, retaliate any flags we have them. Find a way to exclude bidbot votes from reputation building, then hardfork all existing false reputation out of the blockchain. That will remove our hesitance to flag crap posts more than a separate pool would.
👍  ,
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vote details (2)
@mexbit · (edited)
Why do you not work on SMTs???! Discuss this again when SMTs are out completely.
👍  ,
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vote details (2)
@justinw ·
$0.10
This is the start of a discussion - not a diversion of engineering efforts.
👍  ,
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vote details (2)
@mexbit ·
I think when smts are oyt this might be something optional when you create an SMT. But this is nothing for the Basecurrency. if you throw investors under the bus than other currencies will celebrate. and incentivizing holders is what steem needs. disincentivizing sending it to an exchange is what is needed. if you remove this passive income the steems which will be distributed might be worth 95% less. Then nobody wins.
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@mexbit ·
$0.02
Also, bidbots are great. Without them I would have left Steem already.
👍  
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vote details (1)
@toofasteddie ·
Yeah! I want to hear why SMT is not yet deployed 

Posted using [Partiko iOS](https://partiko.app/referral/toofasteddie)
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@misterakpan ·
Someone mistakenly turned on the "Listen to Community" switch at the office? Trafalgar almost came off as real genius there, only that these are discussions I have seen a lot of Steemians try to raise for much of the past year. Silver lining: some progress there because we finally found an oracle to approach the gods through.
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@muppetdingdong ·
@steemitblog, I actually stopped doing much on Steem once I realized bots make more money than real people, on an average user basis. Established community members, brands and channels do fine I guess, but the average user gets more bots commenting on their post than real people, and if you check out these bot wallets most of them are more profitable than the casual user, so shame on you for allowing that to happen at all. 

New users now have to compete with a layer of paid bots before they ever get to compete with other content on an even footing.

Anyone who is a proponent of bots, simply has figured out how to game the system and doesn't want to reduce an income stream, Steem itself is probably a culprit here. Bots dominating the community are the ultimate death knell to a platform who's entire goal is people producing content and a system of upvoting. 

1. You cannot allow bots on the platform, at all, period the end.
2. Should you fail #1, you cannot allow them to be profitable, at all, period the end. If they are economically viable, people will use them, you must close this loop to fix the core game theory issue here. 
3. Should you fail #1 and #2, you cannot allow them to be the only thing the average user, who isn't economically killing it, sees and interacts with on their own posts and the average post they might find

This is one of those 3 strikes things, and lately, Steem has been 1-2-3-your out because this would make the platform run by bots and antithesis to itself.
👍  ,
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vote details (2)
@newageinv ·
These will be interesting conversations to have!

!dramatoken

Posted using [Partiko iOS](https://partiko.app/referral/newageinv)
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@dramatoken ·
Sorry, you don't have enough `DRAMA`.
You need `7.00000 DRAMA` more for a chance to make it happen.
To view or trade `DRAMA` go to [steem-engine.com](https://steem-engine.com/?p=market&t=DRAMA).
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@dramatoken ·
<center>
  <img src="https://i.imgur.com/5FTrFXt.png" />
  <p>You've got <code>DRAMA</code>!</p>
  <p><sup>To view or trade <code>DRAMA</code> go to <a href="https://steem-engine.com/?p=market&t=DRAMA">steem-engine.com</a>.</sup></p>
</center>
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@josephsavage ·
$0.26
!dramatoken

Now go buy a couple more to get to 10. :)
👍  ,
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vote details (2)
@nextgen622 ·
$1.41
I fully support all 3 components of this proposal, and I think it should be implemented ASAP.
👍  ,
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vote details (2)
@notconvinced ·
Wouldn't increasing curation rewards encourage self voting? 

Also, the downvote is under utilized, because of the fear of retribution more than depleting mana, so the logic just isn't there and will only motivate whales to downvote more.

We need more details, because the current explanation doesn't make much sense.

What it looks like is that the big guys will only benefit more and the little guys even less than currently.

Keep in mind that your competition is only increasing and Steemit is losing it's headstart.

The RC's and mana feature is what's limiting interaction, which in turn is limiting growth.
👍  
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vote details (1)
@kawaiicrush ·
You are 100% correct and on top of that.. they like it this way. It is all about getting as much $$$ out of this experimental puppy before its purposeful collapse.
👍  , , , , , , , ,
👎  , ,
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vote details (12)
@iflagtrash ·
$0.07
You're a waste of space.  You've been flagged like the trash you are.
👍  , , , , , , ,
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vote details (8)
@novacadian · (edited)
After reading through the post and *almost* all of the comments it seems like the real target that is trying to be cured are the Lack of Brain or  bot votes. Although talked about a great deal there is one solution for self voting.... remove it *again*.

If you were told there was a way to reward real PoB votes over bot votes with a slight inconvieniance to the user, while offering additional transaction rewards to non-top.twnety witnesses, would you be interested?

Here's my year old [idea](https://steemit.com/steem/@novacadian/a-decentralized-capcha-annonymous-proof-of-brain-verification).
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@dana-edwards ·
$0.03
Simple, don't make it easier for players to buy votes than to earn votes.
👍  
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vote details (1)
@numpypython ·
I'd support points 1 and 3 but how does point 2 about the rewards split fix the economy again?

There are accounts making 100 - 300 steem a day (multiple posts) off a single whale's vote. Point 2 would just make it more profitable for the whale voting on thin content.
👍  
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vote details (1)
@ozphil ·
$0.20
If bid-bots are the problem, why would you increase curation rewards. Such an increase would only increase the incentive for more people to use bidbots. Why not find a technical way to effectively outlaw bid-bots?

If self-voting is a genuine problem (and I am not convinced it is) then disable the ability to self vote (yes people could create a second or third account - but the friction of logging in and out will eliminate some of it).

Maybe the answer is to add a non-rewards voting capability that is used to determine trending, hotlists, etc. It may be more pure because there would be much less incentive to game it.

Finally let me personalize the look, headers, footers, etc of my blog so I feel like I have more ownership of it. Improve the search tools so content is more discoverable. Show links to related content to drive me deeper into the site, etc.
👍  , ,
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vote details (3)
@paradigm42 ·
$0.19
How about just limiting self voting by making it cost far more in RCs and or limiting how many times an account can self vote in 24 hours. Please do not make so there is even less motivation to produce quality content by taking an even larger % of content creator profits than is already in place..
👍  , ,
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vote details (3)
@acidyo ·
$0.19
Will always be gamed by being voted on through alt accounts.
👍  ,
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vote details (2)
@paradigm42 ·
Any change implemented can be gamed to some extent. I just dont want to see quality content creators being punished for others greedy behavior..
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@toofasteddie ·
$0.02
+1000

Posted using [Partiko iOS](https://partiko.app/referral/toofasteddie)
👍  ,
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vote details (2)
@pibara ·
A [counter proposal](https://steemit.com/steem/@pibara/improving-the-economics-of-steem-a-counter-proposal) of three alternate measures:

* Introduce a transparent fish-size bonus
* Make reputation impact opt-in in the voting API
* Make advertising and advertising revenues an intrinsic part of the STEEM economy
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@prakashghai ·
$0.32
I believe the markets have turned and we are in a new crypto bull market, also competition will likely increase in the near future, therefore these proposals should be implemented ASAP !
👍  , ,
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vote details (3)
@clumsysilverdad ·
$0.03
Yes, let's make sensible changes.
👍  ,
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vote details (2)
@mexbit ·
lets finish smts please!
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@mattockfs ·
Please not #2, at least not without a 13+1 wk heads up. And for the other two, let's pretend we are out of beta now and stop pushing through untested stuf without even simulating it. Let HF20 serve us as a warning and a learning experience.
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@trafalgar ·
I'm glad to see that you understand the merits of these proposals
👍  , ,
👎  
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vote details (4)
@valued-customer ·
$0.04
These proposals only increase the amount of rewards that can be extracted from content whales don't create but extract the most rewards from.  If the general market rises, we will simply fall faster from our current position at 63 on CMC.  
👍  ,
👎  
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vote details (3)
@iflagtrash ·
$0.20
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vote details (12)
@preparedwombat ·
>Moving from a linear rewards curve to a convergent linear rewards curve. 

*Inevitably*, large accounts that game the system with the current linear reward curve would come up with innovative ways to game the system with a convergent linear rewards curve.
👍  ,
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vote details (2)
@trafalgar ·
Maybe, but the idea is to make it more profitable to vote honestly and less profitable to self vote or sell votes. So there are less overall incentives to game the system.

Just because every set of economic rules can be taken exploited on some level (this isn't technically true, but lets assume it is) doesn't mean they're all equal. Some are just better than others at promoting a certain behavior, in this case, people to vote relatively honestly.
👍  ,
👎  
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vote details (3)
@prydefoltz ·
$0.22
Link pay-outs to engagement too.  Create an engagement score and apply that to the payout formula. 

Therefore it is not just your SP that governs pay-outs but also your level of engagement. How many unique comments did you receive, how many did you give? And if your upvotes were always on the same account, or handful of accounts, there will be a negative effect on your ES. This way we can get away from a punishment mentality and concentrate on rewarding the accounts that foster and pursue engagement. 

Also bring back view counts and link them to proof of brain.
👍  , , ,
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vote details (4)
@dana-edwards ·
This is actually a good idea but how would we know it's not a bot taking engagement?
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@prydefoltz ·
We all have comment and reply feeds already. Algorithms can easily pick out spamming ones. Then you run an algorithm for variation in upvotes. If an account upvotes say more that 15 accounts in a day, they get an average score. They vote on 25 or more they score increases. I have no idea what the ideal ratio would be and there would need to be a way to discern manual upvotes from botted ones.  If they are only voting for one account or just a few they get a much lower score or even a negative score. This way people can still upvote themselves but in a moderate way and they are also encouraged to vote for other people. Even a moderate increase in curation from bigger accounts would make a marked difference to engagement and block chain health.
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@prakashghai ·
Yeah a vote diversity parameter.
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@raj808 · (edited)
Ha ha, this comment is far too sensible and your idea would actually create a better value system if it could be achieved.

Hmnnnn... But just as with my comment.... No one involved with this proposal seems to have taken any notice of what you're suggesting. Could it be that they're also more interested in increasing their rewards than actually trying to make comprehensive changes that will fix the wider issues!? I'm not saying this is the case but the little comment circle jerk at the top of this feed shows another issue with steem. Oligarchy doesn't breed the best consensus, and sp in the current steem system has created an oligarchy.

I'm gonna vote your comment as far up the pecking order as I can though 🤪🙂
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@prydefoltz ·
Thanks, Raj:)

I think once those who have a lot of SP come to understand that 100 000 steem at 35 cents is worth far less than only 10 000 steem at even a modest $5, they might change their mind about empowering a larger proportion of steemians, especially those that make the blockchain the most attractive. 

Likewise, a steemian can post just once a day and make a much larger payout if steem is valued higher than if they are posting 7 times a day for a fraction of the payout and only upvoting themselves. Unless they truly are posting nonsense, it is actually less work to read, comment, and upvote others then create several quality posts a day. Supporting other is not hardwork; it's fun and interesting and with it we could truly build an extraordinarly healthy and profitable block chain.
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@ucukertz ·
$0.08
Yes! Thank you for this comment! No other proposals I have seen fixes the problem of circle-jerking! 
👍  ,
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vote details (2)
@raj808 · (edited)
$0.17
I've read through nearly 50 comments on this post from a diverse set of users ranging from people who perpetuate vote-selling, to old school steemians who've been pissed at how steems economic system has incentivised this leach of value for a long time. It's undoubtedly a complex issues. I've only been around 20 months, but I've observed a few home truths.

The way things are incentivised on steem works to drive away the people you want to encourage to stay to fulfill steems original value proposition. Good content creators are driven away by vote selling and whale circle jerks. It's that simple. I can only speak from my perspective but I've been writing less and less high level content on steem because it's simply not worth my time! It's very important to understand that this statement is not me self agrandising; the only way to encourage all those bloggers using WordPress, YouTubers and serious freelance writers from places like medium onto steem, is to have a platform that consitently rewards based on quality. Tbh, if we could achieve that the influx of users would be immense and maybe some larger incentive to power up steem might be needed.... Oh wait a minute.... Higher curation rewards might provide that incentive!?

The price of steem increases with the demand and how will that happen with no new content creators? At the moment they're either leaving, or if they can stomach the insulating levels of payout on posts, then they're cashing everything out as they have no confidence in the system! Apart from ideots like me who've powered up nearly everything earned and even bought some steem. Or, they give in and buy votes, or start putting less effort into posts. This issue with trending, bidbots and vote buying is literally creating negative marketing for the whole ecosystem. Short term gain to a few people at the cost of many people and the overall price and perception of steem currency/Blockchain.

I'm in favour of these proposals... If they can be shown to make manual curation return better ROI than delegating to bidbots. This is not about my dissatisfaction with my steem journey at this point, but rather saving the original USP of steem and the only thing which might restore faith and bring huge numbers of new users in the case of a potential bull run this year. It is now or never with this. There are far too many people raping this economy for short term gains and as [@trafalgar](https://steemit.com/@trafalgar) pointed out... the best we can hope for is to try and incentivise good behaviour before steem disappears further up it's own ass. 

Ok, I'm paraphrasing a little 🤣😉

But, seriously! something needs to change before EOS brings out it's own crypto socmedia/content platform or steem will be in big trouble, despite being the first mover of a decentralised proof of brain social platform.
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vote details (3)
@raj808 · (edited)
As someone has mentioned in their comment that we might drive away some whale stake in the form of pay for vote services, I say... So what! And here's why.

Those, so called, services take a huge amount out of the pool without ever creating any value. Unless you labor under the delusion that there is value in meritless content achieving fake standing. Why would we want such investors or such mechanisms? I'm not sure.

There are businesses on steem, such as steemhunt etc, trying to build genuine marketing/advertising use cases for serious investment in steem... Yet the bidbot driven shitshow drives all the potential growth of audience away within weeks of joining. This stifles any chance of further, and larger, positive investment in this space. Why would anyone invest big buying millions of steem to try and incentivise a none existent audience?

There is far too little consideration and concern for the small users on steem and what they represent; audience for any development (new games or dapps) or potential businesses thinking of building on steem. The users, and their UX, are what will make or break long term success and at the moment steem is not a pleasant experience for new users. Anything that systematically destroys UX is counter intuitive and should be weeded out asap. If this proposal could even come close to achieving that, it would be worth it in the long term, however painful it may be in the short term.

There are plenty of people in this comment thread preaching that we need to just ignore all this and focus on SMT and community. I don't agree, as SMTs without a solid coin and Blockchain functioning to limit attacks on the USP of the platform, will simply become another mechanism of abuse by bot owners and vote farmers. It would end up like a never ending spiral of tokens perpetuating centralised agendas. The irony being that many community SMTs would probably be created to try and address the balance but their value will be dragged down by closed communities (circle jerks) building hype and inflated value through carrot/stick mentality.

So yeah, get the ship in order (steem rewards mechanisms) as well as inventing new ways to power said ship. If the holes aren't patched though, the ship will sink regardless of any shiny new outboard motor!
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@dana-edwards ·
I agree. Bidbots are essentially the main problem. They simply have too much power at this point and there is no curation involved. There was a time when the bots actually did some level of curation but now it's simply pay per vote which is agnostic to the content entirely.
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@raj808 · (edited)
Yup. While some bidbot owners do have separate curation initiatives it's honestly like a dictator throwing scraps to a bunch of starving people. That may sound overly dramatic... but the analogy stands up! As what you'll find in most of these 'so called' curation bots running separate from bot owners bidbots is that they are autovoting people who either work for the bot owner or who keep quiet and perpetuate the status quo. It's less about content than it is about political maneuvering from people who are gaming the system to the detriment of everyone other than themselves. They are taking directly from this economical system, without giving back anything (apart from to their supporters), while single handedly destroying steem's reputation in the wider crypto community and the mainstream. I'm still completely baffled why the community and steemit.inc puts up with this? It's not rocket science to join the dots on how these people operate.

I've been on the fence about powering down and waiting for my opportunity to sell at a reasonable price for a while now. Yet at the same time I've been tirelessly promoting steem on twitter and spearheaded a (failed) tweet storm to get steem listed on coinbase. I wonder why Brian Armstrong didn't respond in listing steem? We missed a golden opportunity to leap up in market cap and token price and It's undoubtedly for all of the reasons I've stated above. Coinbase won't list anything they deem shady! My desire to see steem work comes from both a selfish and an altruistic place. As a freelance writer, I envisioned steem could help support me in launching a digital nomad lifestyle. But also, I saw this platforms potential to fulfill business aims as well as decrease global poverty. How would this work?

---

1. no vote selling = more and fairer manual curation
2. the carrot and the stick effect works in a positive way to encourage people to up the level of their content (I saw this happen as a curie curator during the market peak)
3. hundreds of thousands (especially from poorer countries) onboard to a fairly rewarding steem system
4. advertising and business invest big sums to engage and incentivise this ever increasing audience

This is how steem could have (and still could with done intervention) created a unique, world changing, virtuous cycle

---

I've put so much time and effort into steem in many ways - I was involved in building a charity on steem last year - not to mention losing first publishing rights on creative writing that I've been advised by a friend who works in publishing to take down. Curating for curie, teaching writing workshops in a discord community, all of these things I've done to make steem better and I'm quite angry about the way people have allowed steem to go. Steemit.inc could have used there missive stake or found development options to nip vote selling in the bud long ago. I understand that they want to remain impartial... but to the extent of allowing the whole thing to go to shit seems strange to me.

Ha ha, rant number three over 😉
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@raycoms ·
$0.02
I don't believe all three together will have the expected results, especially the reward curve, in my opinion, increases the incentive to use voting bots to upvote your content. Using these bots is much more worthwhile especially for smaller quantities of votes.

I do support the curation change since it gives investors more control over their votes and is an incentive to vote organically. Nonetheless, it would also lead to higher concentrations of votes on fewer accounts.

I think the most promising change would be a separate downvote pool since that gives people more control over who (in their opinion) deserves rewards or not.
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vote details (1)
@josephsavage ·
$0.27
 >the reward curve, in my opinion, increases the incentive to use voting bots to upvote your content

People will figure out how many rshares are needed to tip the curve. Bid-bots will have that as a minimum bid amount, and nothing will change (except that smaller accounts will be priced out and the incentives to consolidate stake will reduce scale of bot-nets).

The real issues are not economic or distribution issues, they are philosophical. As long as the prevalent perspective is that somebody (anybody?) has the right to dictate how others use their stake, there will always be conflict around how stake is being used and how rewards are distributed.
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vote details (4)
@smooth · (edited)
There is no real "tip" of the curve, it is gradual. Anyone placing a vote with the intent of rewarding the content benefits from additional votes added on top of it because of the continual convergence to linear.

The idea of this curve is to heavily penalize microvotes which attempt to slip under the radar with a million comments each earning 0.03. It probably won't have much effect (though still a little) on larger payouts including most paid votes.
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@smooth · (edited)
> Nonetheless, it would also lead to higher concentrations of votes on fewer accounts

In some sense that is the idea since self-voting is the opposite of that.

The real question is one of degree. You don't want everyone voting for themselves (maximum spread across maximum accounts) but you also don't want too much concentration that doesn't help the value of Steem (that being said, very high value contributors _with a large audience_ are indeed worth a lot in what they bring and give back, which is why such people are paid a lot on other platforms).

All that being said, curation itself doesn't necessarily encourage _extreme_ concentration of votes. Once there are a lot of votes on a piece of content, voting for it will earn sub-par curation rewards. To maximize curation, you are better off finding something else that isn't heavily voted yet.
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@jamesbrown · (edited)
@smooth, having read many of your comments over the years, I've learned to respect your opinion on these type of topics, so, if you don't mind, I 'd like to get your opinion on a proposed solution (by @bashadow) that I read higher up in the comments to this post, one that I believe could have a beneficial impact on voting behaviors.

Below is the link to that comment:

https://steemit.com/steem/@bashadow/re-steemitblog-improving-the-economics-of-steem-a-community-proposal-20190516t193202343z

I don't know if it's at all possible, or feasible at the blockchain level, but it seems to me that randomly picking a time within the 7-day payout window to reward as the highest percent curation payout per SP voted on the given post, and then "paying out concentrically" from whatever time is determined (eg if the determined time is 24 hours, then the account closest would get the highest curation payout per used SP and two separate accounts that voted at hours 23 and 25, both 1 hour off from the random generated number, would be paid at the same rate per SP), would be an effective way to remove the incentive to vote within a (small) time window.

I'd love to get your thoughts on this, assuming you can follow what I've attempted to ask.
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vote details (1)
@raycoms ·
$0.12
Yeah, that's why I do support it. Although, together with the adjusted reward curve, I believe it could make the "concentration of votes" too extreme. Especially combined with bid bot usage then.
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vote details (1)
@valued-customer ·
$0.37
These proposals don't reduce incentive to self vote or delegate to bidbots at all.  They increase those incentives for substantial stakeholders, at the expense of almost all accounts.
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vote details (6)
@trafalgar ·
Voting bots will likely be strongly deterred by both the addition of a certain amount of free downvotes from a separate pool, as well as more competitive rewards elsewhere in the form of higher curation.

It's difficult to say what the ideal level of voting concentration is other than describing it loosely as the level of concentration that would actually reflect the distribution of rewards if stakeholders voted honestly based on their opinion of the content, and that's precisely what we're going for.
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vote details (2)
@ew-and-patterns ·
$0.30
I would actually join/create a community which downvotes "regular trending bidbot users" everyday with the few free downvotes... and I think others would, too. But I do also think, that more than 2 free downvotes per day would harm the ecosystem more than it would benefit from it.
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vote details (3)
@valued-customer ·
>"...distribution of rewards if stakeholders voted honestly based on their opinion of the content..."

That's not at all what you're going for.  That's easy to create: simply eliminate curation rewards, and reduce maximum payouts per my proposal.  The vast majority of accounts would hugely benefit from that - but that's not your actual goal.

What these proposals do is increase the profitability of self voting and bidbots for large stakeholders - and that's your actual goal.
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vote details (2)
@redouanemez ·
I think the only big problem is that most users do not read the content, and eventually people who want to work seriously and give good quality content will not be well rewarded, and therefore it does not motivate these creators quality content, so it will be a good thing to find a solution that will motivate users to be more creative and this will undoubtedly give more success to the STEEM community.

Raising the curations will be a good approach.
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vote details (3)
@remlaps ·
$0.04
Have you seen the paper, [A Puff of Steem: Security Analysis of Decentralized Content Curation (PDF)](https://export.arxiv.org/abs/1810.01719)?  I wrote a Steem post about it a couple weeks ago in [A game-theoretic model of Steem's curation algorithm](/@remlaps/a-game-theoretic-model-of-steem-s-curation-algorithm).  It suggests that before worrying about distributing rewards, Steem may first need to improve its scoring system in order to rank posts correctly.

To that end, I have been advocating for quite some time to explore how a [second price auction](https://en.wikipedia.org/wiki/Generalized_second-price_auction) could be adapted to improve Steem's post valuation.  Coincidentally, a few days before you posted this, I finally wrote a simulator to see how payouts would change under a vote-scoring method that's patterned after a second price auction.  I wrote a short description on Steem in, [Simulating a Steem curation rewards distribution that is modeled after a 2nd price auction](/@remlaps/simulating-a-steem-curation-rewards-distribution-that-is-modeled-after-a-2nd-price-auction).  [Gametheory.net](http://www.gametheory.net/dictionary/auctions/secondpriceauction.html) says:

> The theoretical nicety of second price auctions, first pointed out by William Vickrey, is that bidding one's true value is a dominant strategy

It seems that the primary drawback of that method is that it would encourage people to split their stakes, so it might be especially interesting to see how it interacts with the n<sup>2</sup>/(n + 1) weighting, which has the opposite effect.
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@riseofth ·
First of all, Steem's inflation should be removed for rewarding the content creators and it should be delegated to front-end DApps. DApps can launch their own TOKEN and reward algorithm to discover contents. Current inflation is not keeping up with low demand. If Steem did not have relative high inflation, it would easily sit at top 30 in CMC.

Steem's Inflation should go to protocol developments, witness compensation and PoS interest (2-3% vs current 8.5%). Rewarding content creators should be done with SMTs. STINC can launch their own SMT and share profit from ads with celebrity creators by SMTs. 

Steem Investors can earn TOKENs through RC/SP delegations. @steemhunt is already showing a good example. Creators and DApps will figure out optimum synergy with a token.

All the front-end DApps can try their own SMTs with different distribution technique. Finding a sweet algorithms to rewarding the best content is more than rocket science. [A former founder, @dan thinks that he can fix it, I totally disagree](https://steemit.com/steem/@riseofth/problem-with-knowing-the-solutions-of-social-media-how-meos-or-steemit2-0-can-be-a-failure).

DApps with SMTs can try different algos. @steemhunt, @actifit, @dlike and others are already experimenting. Steem's inflation and broken rewarding is helping its price.
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@joearnold ·
At least remove the picture @Jadabug and her information...that is the least you can do after what you did! Or give the account back and i will not pursue this any further.   I will start commenting on everything you do or you can do the right thing and return someone else's property.  We all make errors in judgment ..please correct yours.
👍  
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vote details (1)
@jrcornel ·
Yep. Very much this. ^
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@riseofth ·
Thanks, I have pushed this comment upward within a reply so that it can seen by many and STINC.
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@smooth · (edited)
$0.27
I support these changes (as well as the notion that they won't  fix every problem but will make undesirable behavior less economically incentivized, which is all we can do with the blockchain) but I also support the focus on SPS first. Once SPS is in place then this can be revisited as a proposal for stakeholder consideration, as well as giving stakeholders the opportunity to weigh in on priorities on this work vs. other work.
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vote details (5)
@trafalgar ·
I'm glad to hear it

I think they stated very clearly that all their current projects SPS, SMTs and Communities are unaffected by these changes and that SPS is on track for next month.

We just really need to be considering these issues and I'm glad I finally managed to get Steemit Inc's ear on this
👍  ,
👎  
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@spectrumecons ·
Thanks. This is great news that Steemit are taking a closer look at the economics and reward incentives. 

I agree with (2) increasing curation rewards and (3) separate downvote pool.  I am not sure about the 'convergent linear rewards' curve. I fear that such a curve could hurt new users and those with low SP. Getting the formula correct could be tricky. Based on @vandeberg's post the formula would be something like n^2/(n/c+1). 'c' being the most critical parameter in this equation. Too low, it makes almost no difference and too high the new users could be too heavily penalised.

I think different formulae for the rewards curve should be investigated but I would not jump on the current proposed 'convergent linear rewards' curve.
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@stackin · (edited)
This is a suggestion... 

What if we limit a person to 1 upvote to an particular account for 72 hours. This may spread many people to upvoting and curating better content/accounts.

There are other platforms that are currently doing that and it’s making the curator vote for others as they can’t keep voting the same person all the time with a three day period time limit 🤔

This will tame the bidbots, selfvoting, and circle dick suckin' action LOL

Just a suggestion but it does work!
👍  
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@trafalgar ·
it's too easy to circumvent by using multiple accounts
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👎  
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@stackin · (edited)
They are already doing that...

With voting power going back to the dolphins and whales because bidbots and self voting won’t be as profitable with taming circle jerkin’, it would be easy for the bad actors to get caught and the community will deal with it.
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@steemitboard ·
Congratulations @steemitblog! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

<table><tr><td><img src="https://steemitimages.com/60x60/http://steemitboard.com/notifications/topcommentedday.png"></td><td>Your post was the most commented on one day</td></tr>
</table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@steemitblog) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=steemitblog)_</sub>
<sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub>


To support your work, I also upvoted your post!


**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/japanese/@steemitboard/new-japanese-speaking-community-steem-meetup-badge"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmRWbAjbeETEaqSPLcpwYX1JN5pZhdPffv4q6DaBs6xvZm/image.png"></a></td><td><a href="https://steemit.com/japanese/@steemitboard/new-japanese-speaking-community-steem-meetup-badge">New  japanese speaking community Steem Meetup badge</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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@steemitboard ·
Congratulations @steemitblog! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@steemitblog/birthday3.png</td><td>Happy Birthday! - You are on the Steem blockchain for 3 years!</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@steemitblog) and compare to others on the [Steem Ranking](http://steemitboard.com/ranking/index.php?name=steemitblog)_</sub>


###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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@steemitsados ·
I agree with this opinion!!!
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@steevc ·
$0.26
Some change to the curve and posting/curation split may help matters, but it should not penalise small accounts too much. We know the orcas and whales do well from curation. Then again the system should discourage creating masses of small accounts. It's a tricky one to get right and you will never please everyone. Maybe it could be a variable system that adapts to deal whatever ways people try to game it, but then there will be lots of strategies going on.

One thing that should change is that rep should go up slower if all votes come from the same few accounts. We have people with really high rep just from buying votes, so it is meaningless.
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vote details (5)
@trafalgar ·
Every measure i can think of has some negative side effect that goes up exponentially as you increase the degree of that measure.

Curation - less $ for authors, assuming honest voting
Free downvotes - toxicity, bullying, possible collusion at high levels
Coverging Linear - punishes smaller votes

The idea is to use as little of these measures as possible while still being sufficient to bring about honest voting behavior from most stakers.

If you can think of other measures that can bring about this change we desperately need with fewer negative side effects, I'm definitely open to them.
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vote details (5)
@mattockfs ·
$0.12
Might help to run some actual simulations with historic data. People can explain why they think these measures might work and others like me might explain why we feel these measures will likely backfire, but in the end simulations and causal modelling can answer many questions that pure reasoning can't. And if these give ambiguous results, incremental changes that can be rolled back can help to test the model without being too disruptive. Let's try to avoid an other HF20 incident.
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vote details (2)
@steevc ·
We have some benefits to down votes with SteemFlagRewards, which has manual checks to prevent abuse. Any automatic system can probably be gamed.

I don't claim to have the answers. I do okay from rewards, but I see many getting frustrated whilst they see others raking it in (by whatever means). Reducing the benefits of self votes is okay unless people create proxy accounts. 

The freedom of Steem is a great feature, but we see it being abused all the time. We can create as many accounts as we want (RCs permitting) so there could also be a landgrab of good names.
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@stevescoins ·
> if curation is improved, then those content creators who are currently submitting great content which isn’t getting seen, should stand to benefit as that content will be more likely to get unearthed.

that is an assumption

curators that are *investors* are going to be looking for the best ROI;  they are not necessarily looking to provide the best *curation*

We have three competing interests here: curators that curate, curators that invest, and content creators.

All three groups have valid concerns.

I really don't see any mechanic that is going to make investors curate;  *time* is an investment as well.

A final note, as the bulk of my return comes from creation in a niche area, I don't like proposals assigning more return to curators, especially  when the nature of the platform is that some curators are investors...but that's my bias ;>
👍  
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vote details (1)
@teamsteem ·
$8.64
## Question To Steemit Inc

1. When can investors expect the fundamentally flawed linear reward to be changed?
2. How many hours does it take to code a new curve?
1. Should current investors solely vote for themselves to avoid scammers to receive "free money for nothing" aka free Steem?
1. What are the benefits, if any, for investors to not solely vote for themselves?
1. The rational investors are increasing their piece of the pie with negligible work. Are there any estimates? 
1. Who are the biggest rational investors what is their ROI?
1. Why did Steemit Inc implement the flawed linear reward curve?
1. Where did Steemit explain why linear rewards weren't flawed anymore before implementing them?
1. Why mention @trafalgar as the initiator of this discussion while knowing this is incorrect? - Many people pointed out linear rewards were flawed, way before @trafalgar did, among them, none other than @dantheman in the original whitepaper, @steemitblog, @felixxx, @ats-david, me, among many others.

#### In February [2017](https://steemit.com/steem/@steemitblog/details-on-proposed-comment-reward-curve) Steemit Inc re-highlighted why linear rewards are fundamentally flawed, yet they never retracted their statement before pushing for linear rewards to be implemented.

> In a world with honest people who don't vote on themselves to get **"free money for nothing"**, a simple linear curve, aka n would produce a 1 share 1 vote proportional payout. This is the blue line and shows the ideal situation.

> **Unfortunately, we live in a world where people will attempt to game the system by voting for themselves.** If everyone voted for themselves then the result would be simple interest payments and have no economic impact.

More [here](https://steemit.com/steem/@teamsteem/why-i-advice-against-linear-reward).
👍  , , , , , , , ,
👎  , ,
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vote details (12)
@boomerang ·
This post has received a 40.29 % upvote from @boomerang.
👎  
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vote details (1)
@joearnold ·
Can someone help? i started several accounts a few years back.  I have been able to access them all recently but one...I am using the same master key and I am not able to get in....all  of my other accounts are fine. I copy and paste the master keys no problem...I have never changed or attempted to change any passwords.  My husband and daughter have both tried to no avail.  the account I can not access is @jadabug...could it have been compromised.   no steem is missing ...i just can not get in ...it  is strange ..I  set up the accounts and would like to give it to my daughter to run and i can not get in .augh! I have all of the keys they just do not work!!!!  Thank you for your time.
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@gtg ·
I'm guessing: you are using Master Password to access https://steemit.com site, but it's no longer possible after wallet/social features split. For social part you should use your Posting Key. If you haven't written down separate keys go to https://steemitwallet.com site log in with your Master Password and get your Posting Key to be used on https://steemit.com.
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@pibara ·
Linear is flawed, sure,  the proposed curve type though even more so. It sends a signal to new users: "please piss off, you are too late, we are full!"

I'dd propose just adding a simple and modest fish-size bonus. Irrelevant for new users, but sufficient an incentive for big fish not to break up their stake into hundreds of puppet accounts.

The blue line instead of the red line

![](https://cdn.steemitimages.com/DQmYsKb7cyPscnctpLuDKBkPTmocHjQdRVehVggWXX9zJXF/image.png)

![](https://cdn.steemitimages.com/DQmcxPqLWpGEVgvGE5eXnq3whryT9CdqRzKRNiUZxGWCt6K/image.png)
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@promobot ·
re-teamsteem-re-steemitblog-improving-the-economics-of-steem-a-community-proposal-20190521t064124460z-20190521t074524344z
@teamsteem purchased a 29.66% vote from @promobot on this post.

*If you disagree with the reward or content of this post you can purchase a reversal of this vote by using our curation interface http://promovotes.com
👎  
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vote details (1)
@transisto · (edited)
$0.45
No need to ask Steemit, stop worshiping them.

1. Linear curve is not flawed
2. Very fast but what curve you want?
3. You'll get to downvote for free very soon, so if you upvote yourself in excess on stupid content you'l most likely get downvoted.
4. Can shower yourself in virtue signaling.
5. Estimates on what? Your bogus claim?
6. Calculate that yourself if you think it's relevant.
7. It's not flawed and it was approved by witness voted by all stakeholders.
8. _"Where did  explain why it weren't flawed anymore before"_ WTF?
9.  Because it's his only contribution to Steem this last year beside self-voting with his huge stake.

Read the downvote section again. I like to think it's mostly my suggestion and I'm not bragging about it because it's so obviously the solution to people buying votes on half baked comments like this one.
👍  , , ,
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vote details (4)
@pibara · (edited)
$0.02
1)
2)
3) Think that is a bad thing. Using your stake to **upvote** your own **comments on your own posts** allows you to be an ass without disrupting the content economy, but doing so **will** get you flagged. Running a **bid bot** that **upvotes crap posts** will allow you to be an even worse ass  because for you it is just like self voting as effectively all the money flows back to you with current ROI at about 100% for bot users, but while doing so, you will be disrupting both the trending pages and the reputation system.  Measures that drive stake holders from being an ass in their own little content bubble towards being an ass in a way that disrupts core features of the platform isn't improvement IMHO.

  Have a look at [this poll](https://steemit.com/dpoll/@mattockfs/what-action-by-pasive-stake-holders-would-be-best-for-the-steem-platform), seems by the votes to far, I think all these options need to truly be carefully considered before implementing measures that make passive stake holders move to even more disruptive use of their stake.
---
![](https://cdn.steemitimages.com/DQmSwkZs8vQoAPWyFhfhD2LydCr46rofU5iZTyKyGZc3fAt/image.png)
👍  ,
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vote details (2)
@teamsteem · (edited)
What are you alluding to? My comment is super critical of Steemit. 

> No need to ask Steemit, stop worshiping them.

1. -
2. How fast? Where did you get that information?
3. -
4. That's like poetry but I don't get what you mean.
5. Estimate on the piece of the pie control by those who upvote themselves the most and at which rate this is increasing? 
6. I've made estimate in the past. My question was mostly rhetorical. 
7. We do agree that it was voted by at least 15 witnesses.
8. Where did Steemit explain why linear rewards weren't flawed anymore, before implementing them?
Steemit Inc said linear rewards were flawed. They then supported linear rewards while never explaining why they weren't flawed, "anymore".
👎  
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vote details (1)
@therealwolf ·
$0.43
> Moving from a linear rewards curve to a convergent linear rewards curve. 

Yes.

> Increasing the percentage of rewards that are distributed to curators.

Yes.

> Create a separate “downvote pool.”

Yes.

---

I talked about my reasoning for increased curation rewards & downvote-pool in [this post](https://steemit.com/steem/@therealwolf/50-50-fair-and-for-us) a few months ago.
👍  , ,
👎  
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vote details (4)
@cervantes ·
We also agree on the three points.
👍  
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vote details (1)
@trafalgar · (edited)
Great, happy to see you're on board

I've tried to explain before that if Steem falls enough, even low staking bid bot operators are losing too much in opportunity cost to want to support the status quo. 

Conversely, bid bot operators are very much in a great position to adapt their platforms to a curation service where they can similarly profit but vote in a way that isn't completely content indifferent and therefore beneficial to the platform.

As a self voter, I certainly don't judge people for pursuing their rational self interests. But we can recognize a broken economy when we see one and it's in all our interests to fix it!
👍  ,
👎  
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vote details (3)
@tj4real ·
One thing i know for sure is the Economics of steem isnt really working and we need to fix it. The proposal will also mean only rich people get most of the reward as curation will favour them. Lets assume we launch SMTs, from what i beleive we can try it an implement this system on one of the communities to test how efficient it. But as at this time, i think the economic metric isnt working and the solution isnt really changing values
👍  
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vote details (1)
@toofasteddie ·
I would like to read more information about the first proposal, seems interesting.
The other 2 for me are irrelevant

Posted using [Partiko iOS](https://partiko.app/referral/toofasteddie)
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@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/steemitblog__improving-the-economics-of-steem-a-community-proposal.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
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@valued-customer ·
$0.14
I've been here since just prior to HF19 (I just realized that today is actually my two year anniversay IIRC), and have watched the slow decline in Steem's ranking on Coinmarketcap from the 30s to 63 today.  I believe you are addressing the primary cause of that slide in this OP, and appreciate that very much.  Steem has several advantages over ETH and BTC, and is a better cryptocurrency IMHO.  We should be attaining better capital gains for that reason, were all else equal.  Clearly, all else is not equal.

The fundamental problem that has created that inequality is that ROI for substantial stake is enabled by extracting rewards.  One of the most compelling advantages of Steem is it's use case: the social media platform and the community of creators and consumers of content.  Few mechanisms have shown to be as powerful as social media, as the FAANGs reveal.  Rewards were intended to encourage high quality content that would attract new investors, and thus produce capital gains, via curation.  But extracting rewards for ROI does not focus on content quality, and instead overwhelms it with a more powerful, immediate financial motivation.  This is contrary to investment purposes, and depresses capital gains.

The suggestions put forward here today in the OP have been long advocated by @trafalgar and others, but they do not address this basic conflict between investment and profiteering.  I submit that until that conflict is addressed, the problem will continue.  

I propose introducing a new mechanism for producing ROI from stake that rewards delegation and funding of development intended to improve Steem.  The SPS (SteemDAO) would be a likely means of doing so, and the recent election of the form of the @steemalliance intended to choose which developments would be funded both have become available now to effect this mechanism.  The purpose of this would be to reverse the extraction of operational funds (profiteering) and promote development intended to improve the investment vehicle (Steem) and so drive capital gains.  

No other blockchain I am aware of (acknowledging my relative nescience on this detail) provides comparable mechanism for attaining ROI from stake to such a dividend, yet many produce far better capital gains - the traditional point of investment since prehistory.  

In addition to replacing the mechanism for attaining that dividend as incentive for HODLing Steem, I propose making rewards unsuitable for profiteering by limiting the extractive potential.  An algorithm that limited rewards to no less than 3%, nor more than 300%, of the median would allow two orders of magnitude for differentially rewarding quality content, yet limit the ability of substantial stake to extract ROI to insignificant quantities.  This is what Huey Long proposed regarding income for Americans prior to his assassination, probably because he made too much sense to folks suffering during the Great Depression, and was a threat to the banksters that have ever since increased their possession of American wealth and production.

We have also felt the impact of a dismal retention rate - less than 10% of new accounts are still active after a year.  Many new users get no rewards at all from their posts regardless of quality, since it takes time to create a network, and many get discouraged and give up.  Huge effort is undertaken by many good people in the community to counter this problem, and the proposed algorithm would assist in that endeavor.  @arcange daily posts relevant statistics that can be plugged into this proposal to produce accurate values, but I'm just gonna use round, easy numbers in example here.

If the median post pays 3 Steem, then the max reward would be 9 Steem, and the minimum would be .9 Steem.  9 Steem is not enough to drive profiteering, so bidbots, self votes and etc., would be discouraged, enabling actual curation for quality to be the only reason to upvote.  While .9 Steem is seemingly insubstantial, it is indeed 100% more than nothing, which many new users get presently for their early posts.  It's some encouragement, and so little that it isn't a significant hardship to bear in order to improve retention.  Particularly substantial stakeholders might note that this is a huge increase in the financial incentive over the extant situation to retain new users, and consider that very small cost relative to the value of retaining a network user.  

Most authors aren't getting 9 Steem payouts for their posts today.  Even the average payout, skewed by the bidbots, circle jerks, and self votes, is less than 9 Steem.  By encouraging substantial stakeholders to actually invest in development by creating a divided stream, it is likely the median payout will increase, approaching the average as bidbots decline in impact, or are even eliminated altogether.  That would by my, and many other's, preference.  Folks using bidbots to generate profit could simply adapt to the dividend mechanism, and being nimble, would likely make that transition very quickly, as quickly as they appeared after HF19.  

I don't think it's necessary to address how this would improve trending.  Only those most dedicated to financial extraction and profiteering might prefer the extant model of trending to one produced through actual curation intended to promote quality., 

Water flows downhill because of gravity.  Different planets have different gravity, and water flows downhill at different rates on them.  Gravity is like code.  However, code can do something physics can't and replace gravity with something else altogether.  Stake, like water, seeks the best route to ROI, and tweaking the code can change the rate at which extractive profiteering returns ROI to stakeholders, as @trafalgar's proposal does, and as the different gravity of different planets do to water flow.  Making the changes I propose is not like altering the rate, but more like replacing gravity with a different force altogether.  

Instead of creating incentive to extract ROI from rewards better purposed to market Steem, it creates incentive to extract ROI from improving the investment vehicle, driving capital gains.  I believe this would better meet the needs of Steemit, Steem, the community, and particularly investors who throughout history have been driven by the incentive of capital gains.  Far more upwards ROI is potential from capital gains than from extracting the funds necessary for marketing for ROI.  

I'd appreciate any substantive comment regarding this proposal specifically, or the underlying principles it's based on.

Thanks!

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@iflagtrash ·
I flag trash.  You have received a flag.
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vote details (3)
@vikisecrets ·
Another idea to improve and incentivize manual curation and to reduce bid bot and delegation abuse: Add a small "fee" for delegations: https://steemit.com/steemit/@vikisecrets/hf21-eip-solution-proposal-for-bid-bots-and-delegation-abuse-add-a-small-fee-for-delegations
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@voxxe ·
May I recommend that the downvoting feature be removed? It is a completely negative and unnecessary feature... that tends to end up censoring and penalising anything unpopular. If you like something, upvote it. If you don't like something, move on!
![688191972353b996e7c3b69621e15451823689594e419576b7ed5cd52161e32e.png](https://cdn.steemitimages.com/DQmWzxMMHp8WrpHDAydp1mBbt8EKjMeDyUx9zWMHQf4iW1M/688191972353b996e7c3b69621e15451823689594e419576b7ed5cd52161e32e.png)
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vote details (1)
@wasim1 ·
$0.03
Dear steemit drivers, all is well. you does not need to change anything again in steemit. just implement SMT and see, when steem will touch 1$, you will see rain of new quality bloggers here. And everything will be fine.. please don't make shitty changes by the name of HF21.  HF20 is the result of the current situation of steemit. Now please not again, i hate Hard fork.
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vote details (3)
@whatsup ·
$3.25
I do not support all three of these things together.  While I might be able to support higher curation rewards, I do not see this as the most important element to work on at this time and I do not want to see SteemIt, Inc's dev team pulled off of SMTs and other work that ads appeal to those outside of our community.  

Curation is a large account game, it means very little to most of our users.

We had everything in this mix before and it didn't matter. minus a downvote pool.  The big accounts just followed Authors they thought would be successful and upvoted them for rewards.   There wasn't any curation in it the first go around either.
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vote details (32)
@clayboyn ·
$0.27
I honestly think the only way to fix it at this point is to make actual curation more profitable than self voting, which requires a return to exponential curation curve and around a 50/50 split.  I honestly don't know if anything will fix this shit at this point because like you said voting collusion trumps content quality for passive investment, but the fact that we literally have to build a second layer protocol to disregard the distribution of the first layer protocol because it is so fucked is simply hilarious to me.  We've gone full circle to the point where we have no value proposition over someone creating their dapp and community on tron, eos, neo, or countless other blockchains.  Three years of running a company like a personal piggy bank and then lobbing a hail mary by allowing people to circumvent the distribution is a joke at best.
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@holybranches ·
Plus the post literally says...

>We cannot eliminate such behavior entirely, but we can make it less economically viable.

Are people deliberately skipping this part? 
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@jrcornel ·
This is a good idea in theory but in reality whales eventualy just vote for the same people because they think other whales will as well, in an attempt to maximize profits from curation. This ends up a few lucky authors getting most of the rewards as everyone piles in to get curation. We saw this happen when this platform first launched. In my opinion they are trying to solve a problem that may not be fundamentally solvable. I don't think stake based voting can work. Sounded good, but when money became involved, it changed everything.
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vote details (5)
@trafalgar ·
I'm supporting a 50/50 split

Exponential curve is likely too strong because n^2 means someone who has 100 times more SP than you has a vote that carries 10,000 more weight than you. Now that people are more sophisticated, this perhaps would open up to even more abuse than the current system

But indeed some level of superliniearity is necessary. I like the convergent linear curve proposed by vandeberg as far back as 3 years ago. It has a superlinear head that forces all profitable spam into the light, and a linear tail so no collusive piling on between whales/bid bots

I also think a moderate amount of free downvotes are necessary. Basically every measure helps, but every measure has their own downsides if you tune them up too much. This is mostly an optimization problem. 

I broadly agree with your points and think it's better late than never. I share your frustration as I've been proposing this for over a year, and I'm grateful that recently @justinw, @andrarchy @vandeberg and other inc members became receptive to these ideas
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vote details (3)
@valued-customer ·
$0.04
>"...exponential curation curve and around a 50/50 split."

This does not even impact curation for content quality at all.  It merely changes the financial equations governing how profitable corrupting curation is.

We can eliminate financial incentive to corrupt curation altogether.  We should.
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@whatsup ·
Omg, this hurt to read due to the truth in building a second layer protocol to fix the first layer.  I had never thought of it that clearly...

It's painful
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@coininstant ·
I agree @whatsup!
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vote details (1)
@dana-edwards ·
$1.80
I think fixing the economics has priority over SMTs at this point. If the economics don't work then who is going to be using Steem for the SMTs to matter?
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vote details (5)
@ecoinstant ·
$0.08
The issue is that unless we have communities to test these economic theories, no one really knows if what they are doing to 'fix' the economics is going to work.
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@dana-edwards ·
$0.03
And you are right it wasn't perfect earlier on but it was certainly better back in 2017 than it is now in 2019.
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vote details (1)
@smooth · (edited)
$0.04
I support the changes in this post, but I would also not agree necessarily that it was "better" in 2017. It was certainly "different" but there were other problems which were still very serious. 

Since there is no suggestion to go back to the previous rules, I don't think it actualy matters. You have to evaluate this new proposed set of rules on its own merits, as they are significantly different from both the current rules and the 2017 rules.
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@trafalgar · (edited)
If I had to score them out of 10

Hyperinflation - 1/10
n^2 - 2.5/10 (this appeared to have worked better because people weren't as sophisticated back then and abit and smooth were incurring some of the costs of making it work better than it otherwise would have)
our current system - 1.5/10

I think we can do maybe a 5.5-6/10 on our next attempt if we frame the problem correctly and identify both the benefits and costs of each of those measures to reach sensible numbers.
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vote details (4)
@whatsup ·
$0.23
I disagree outside of having more attention it didn't work any better except for a handful.  A very small handful.

However, I do appreciate the opinion though.
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@ecoinstant ·
$0.06
Also - more curation rewards means delegation to curation pools (of which bit bots are one type) would become more profitable, not less. It is not immediately clear to me that the raising curation reward amount would have the desired effect, in fact the opposite seems very possible.
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vote details (5)
@accelerator ·
$0.05
Precisely! It's very simple mathematics.

I shall digest everything later, as need to go to work. To look closely at the whole economic system is something I have said for over a year, but the 3 proposals are, yet again, tinkering with the most obvious parameters and ignoring some of the deeper problems within the core code. Returning to super-linear is a whale-feast, for example - what's the point in that? What are the newbies going to think? Gotta dash.... more later.... probably much more :-)
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vote details (2)
@holybranches ·
$0.50
Anyone that weighs in on this post without actually digesting @vandeberg's latest post might be making a huge mistake.

>We cannot eliminate such behavior entirely, but we can make it less economically viable.

This is the whole argument. I'm curious to what you really think of it. And no, not if Traf and his likes will profit or not. 
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vote details (6)
@trafalgar ·
Traf doesn't want the vast majority of active stake taking part in mindless self voting or vote selling just to get staking returns, because that's seen as the norm now.

Traf can't afford/is unwilling to not do this to defend his own stake, but would much prefer a system where everyone is incentivized to act honestly with respect to voting behavior.

That's what these suggestions are designed to do
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vote details (5)
@valued-customer ·
$0.03
That quote is factually incorrect.  Code is infinitely mutable, and all financial incentive to corrupt curation can be eliminated.  While some people will continue to act irrationally against their financial interests, currently it's irrational to not degrade curation for financial gain.  Eliminating, rather than merely tweaking that incentive, can be done, and I propose it below in reply to the OP.
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@whatsup ·
$0.03
I agree with this comment!  Read Vanderburg's post also
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vote details (2)
@namiks ·
$0.05
I agree with this. 

And to add: I think the real issue with our economy is one specific company dumping thousands of Steem and essentially strangling potential success by doing so, scaring away potential investors.

I think Steemit Inc needs to focus on other methods of generating revenue that doesn't just involve dumping Steem or ads. Also don't want to see SMTs get yet another delay.

Once those two things are properly addressed, we should talk about how the community itself is using Steem and what could be changed.
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vote details (4)
@stackin · (edited)
Check this idea out. Limit a person to 1 vote for 72 hours for each particular account. 

This will make more people curate others as they can’t keep upvoting the same person all the time. 

This will also tame bidbots, selfvoting and whale circle jerkin’ Action 😂
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@trafalgar ·
it's easy to circumvent by creating multiple accounts etc.
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vote details (2)
@therealwolf ·
$0.77
> Curation is a large account game, it means very little to most of our users.

Curation is one reason that should incentivize people to have a stake in this system. And I hope you do realize, that large stakeholders, who are not selling, are allowing small accounts to benefit from the system.

> We had everything in this mix before and it didn't matter. minus a downvote pool.

That's why we need all 3 combined.
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vote details (2)
@bil.prag ·
yes they are leaving something to the  small people to hope for and by doing so keep this place with at least some number of users. so they are thinking abut the greater good or thinking that they will benefit in the long run. one that are not doing that are thinking just about themselves, they never build their sp to reward others, and are here for here and now.

Posted using [Partiko Android](https://partiko.app/referral/bil.prag)
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@trafalgar ·
Yes, if you don't give me a reason to vote for content I consider good rather than my own, I'll just vote my own

Now you can't give me 100% curation or there's no reason for anyone to create good content. So that's why we need the other measures. I need not just more incentive to vote others, but a deterrence to vote myself (or sell my votes). That's where some free downvotes come in.

A little bit of converging linear curve brings all profitable spam into the light to get downvoted.

Every measure helps but have diminishing returns and increasing costs. That's why a combination of measures is best, it provides the maximum utility, assuming we get the numbers in the right ballpark
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@valued-customer ·
$0.03
As you'll soon note from my votes on this comment, that downvote pool will just be gamed.  You're a gamer, and probably looking for ways to profit from said downvote pool.  

The fact is that most people cannot pile stake into Steem, because they don't have it.  Your stake immunizes you and enables you to profitably ignore this reality.  You do so to the detriment of society, for your own profit.

I consider your facility with financial manipulation potentially beneficial to the community with the right incentives in place to encourage your profiteering to promote improvement of the investment vehicle that creates capital gains.  This is why I propose replacing your current business model with dividends from funding development.  You're agile.  You'll quickly maximize your returns from new incentives that don't degrade curation and the market for Steem.  The only reason you do that now is that the incentives make that the most profitable business model today.

We need to change the incentives that drive you to benefit the community, rather than continuing to degrade our market as you do today.
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vote details (2)
@whatsup · (edited)
I can no long bother to explain to you the incentive to downvote is the value of your stake.

If no one has put that together yet watching the price and current activity.  Nothing is going to teach them.

Yes, by the way, I fully understand that the stakeholder's INVEST in the end users to make the whole thing work.
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@trafalgar · (edited)
$0.67
What would appeal the most to investors is a functioning content discovery and rewards social media platform where there's actually an incentive for people to take part and engage in rather than one that forces stakeholders to defecate all over the front page if they wish to retain their stake.

Imagine how good SMTs or Communites would have to be in order to turn this place around if our economic incentives continue to force people to spam, self vote and sell votes. Realistically, what are the chances of Steem based SMTs taking off to the point where they're not just successful themselves but can carry the failure of the entire ecosystem when Steem is spirally down in CMC charts and Steemit is dropping Alexa ranks because there truly isn't any reason to be on a platform whose front page is a dumpster. SMTs and Communities would need to be impossibly, unfathomably good.

Now imagine how good a more reasonable economic system would only need to be to fix this. It just has to make an intelligent attempt at aligning better rewards with behavior we want, such as people to actually vote based on their subject opinion of a contents appeal. The answer is economic reform just has to be sensible. This is by far the most important and most cost effective change we can make.

It'll only be a small exaggeration to say that @Vandeberg could probably bash out a pretty sound economic system in an afternoon (maybe a week). Yet this would be the one change that would totally turn this place around. Not only that, a functioning content discovery and rewards system would greatly magnify the value of all the other initiatives. SMTs, Communities, Marketing. They won't get us far if our core value proposition is the one thing we're failing the hardest at.

For the record, no engineering efforts are being diverted. This is just the start of an important discussion
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vote details (6)
@artemislives ·
$0.11
Thank you @trafalgar. Im a steem newbie of just 16 months and I have earned every steem I have, rather than buying in.  I curate manually for both @ecotrain & @freedomtribe.  This EIP excites & encourages me - thank you! Im a single mom living in Chiang Mai, Thailand & MAKING SURE to get a flight to BKK for SF4.  Hope to thank you in person for all you do.
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vote details (1)
@dmitrydao ·
$0.19
"Imagine how good SMTs or Communites would have to be in order to turn this place around if our economic incentives continue to force people to spam, self vote and sell votes. Realistically, what are the chances of Steem based SMTs taking off to the point where they're not just successful themselves but can carry the failure of the entire ecosystem when Steem is spirally down in CMC charts and Steemit is dropping Alexa ranks because there truly isn't any reason to be on a platform whose front page is a dumpster. SMTs and Communities would need to be impossibly, unfathomably good."

Those words are gold. I actually starting to question whether Steem has to compete with other social networks. They do know blockchain exist and will do their best to stay in the trend. The worst part is that people don't really like being on all of those platforms. They fight for those that deliver the best features and unite people together to share unique and amazing content. Steemit was those things in the beginning, then it faded somehow but why? I'm still trying to figure it out. It seems like the level of hype is correlated with the number of quality posts which is weird and shouldn't be like that.

I believe Steemit as a website and company is missing very critical point and that is strategic marketing. I've never seen Steemit doing that and that could be a problem. People outside of crypto are not aware it exists unfortunately and that's not cool.

Those things are pretty obvious but were not addressed yet so decided to share. Thanks for starting this conversation. I know you create lots of cool posts so I know how you feel to produce great content and simply having 0 feedback because people are not on this platform. There are lots of people playing games built on Steem and that is an advantage. So maybe that what Steem in particular has to be focusing on? Your thoughts?
👍  ,
properties (23)
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vote details (2)
@tts ·
To listen to the audio version of this article click on the play image.
[![](https://s18.postimg.org/51o0kpijd/play200x46.png)](http://ec2-52-72-169-104.compute-1.amazonaws.com/trafalgar__re-whatsup-re-steemitblog-improving-the-economics-of-steem-a-community-proposal-20190517t031702753z.mp3)
Brought to you by [@tts](https://steemit.com/tts/@tts/introduction). If you find it useful please consider upvoting this reply.
👎  
properties (23)
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vote details (1)
@valued-customer ·
$0.03
>"What would appeal the most to investors..."

Is reasonable development that imbues the investment vehicle with increased value, producing capital gains.  

Content isn't their focus.  ROI is.  Presently ROI is able to be extracted immediately from rewards, and cash is king.  That needs to end, and ROI enabled from funding development that improves and imbues value in the investment vehicle, Steem, needs to replace it.
👍  
👎  
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vote details (2)
@wisdomandjustice ·
Absolutely agree with you and @trafalgar.
No change NO survive.
properties (22)
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@wongbraling ·
Nice Steemulus
properties (22)
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@xpose ·
$0.15
This is IRONY at its best. I can't believe that I am reading this on official blog of Steemit. There is talk about 'Improving Content Discovery' and Steemit is considering proposal of @trafalgar.(Really!!!)

Have you guys checked his alt account which goes by @traf and his self upvoting for past 30 days? And he basically just posts shit there and even self-upvotes his comments too.


![fdsfsdfsdf.jpg](https://cdn.steemitimages.com/DQmdjWDfFTRErSqTx6xjmcSc1p6TNTYHCzBxiX1kGHGiiS1/fdsfsdfsdf.jpg)


![dfgdfgdfgdfg.jpg](https://cdn.steemitimages.com/DQmQJHestBNzAjFxG7ZVAMei33BTyJt4Hd85N8ebT3F8hV5/dfgdfgdfgdfg.jpg)
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vote details (11)
@dana-edwards ·
$0.11
Can you blame him when the economics are broken to play by broken rules? Fix the economics and maybe his account behavior will change.
👍  
properties (23)
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vote details (1)
@nokodemion ·
$0.06
He and his circle jerks are part of the problem not part of any solution.
👍  , ,
properties (23)
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vote details (3)
@preparedwombat ·
I really wish that he would go back to posting as @trafalgar which used to post some really good content. Agreed though, the @traf account posts are merde.
👍  ,
properties (23)
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vote details (2)
@dana-edwards ·
$0.12
If we want good content we will fix the economics which provide the incentive for good content. Currently there is no incentive.
👍  ,
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vote details (2)
@smooth ·
$0.15
Ad hominem arguments are not persuasive. Please address the substance of the proposal, not the personalities.
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properties (23)
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vote details (5)
@holybranches ·
^This

Unfortunately the comment section is made of 90% emotion, 10% logic. Who knows maybe that's the kind of reward ratio that might make sense.
properties (22)
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@valued-customer · (edited)
I don't think the specific examples of @traf's actions are ad hominems, unless you consider those acts themselves socially reprehensible.  Being upset at actions that harm the community is reasonable.  The closest he came to ad hominem was 'irony'.  

Frankly, @xpose is right on point, as I believe @traf and @therealwolf are simply seeking to create an environment that increases the profitability of the actions they currently undertake, that transfers Steem from the community to their wallets.  Is that an ad hominem?  No.  It's my opinion based on the demonstrable actions they take.  Those actions are factual, and stating that extracting our wealth is harmful to us is not an insult, but something else that most people would regard as a fact as well.
👍  ,
👎  
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vote details (3)
@sorin.cristescu ·
$0.83
This is done on purpose, apparently: he basically wants to "rub it in" and demonstrate that as long as his proposals are not implemented then the most profitable behavior (under the assumption that people are machine-like, shortsighted maximizers) is to self vote. Therefore, to prove his point, he engages in that ostentatious behavior. 

My fear is that as soon as his proposal gets implemented, another whale will feel "this is not right" and devise an ingenious way of abusing the @trafalgar system ... So we'll be back to square 1 ...
👍  , , ,
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vote details (4)
@felixxx ·
Good luck exploiting the original 'crabs in a bucket' n^x situation with more than 5 big stakeholders.

I still believe n^x would have worked if there had been more heavy wallets than really just a handful.
properties (22)
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@krnel · (edited)
$0.95
To clean up the shit in the streets, we should just shit in the street some more. To stop murder, we engage in murder? To stop X, we do X? Great way to live by example.

"I want to stop abuse, so I will engage in abuse myself!"

Winning... great way to make things better.
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vote details (7)
@oldtimer · (edited)
Correct. Exactly my opinion.
He bought all his steem to become a whale.
properties (22)
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@trafalgar ·
$0.04
No, it's not that I want to 'rub it in' or shining a light on the problem by exploiting it myself

I, like many, are unwilling to surrender the rewards offered by a broken system even if it causes us to behave in a way that harms the platform. Otherwise, we'll just be surrendering more stake to most of the active SP who are willing to do so.

That is why I wish to call for economic improvement so that not just me (certainly including me) but everyone else are more incentivized to vote in an honest manner.
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vote details (6)
@uwelang ·
Sorry to say  - but that is bullshit - he does that since ages. However he was one of the best content creators of the entire platform when he started - but curious to learn more still - he is a guy with brain,
properties (22)
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@trafalgar · (edited)
I, like many, are unwilling to surrender the rewards offered by a broken system even if it causes us to behave in a way that harms the platform. Otherwise, we'll just be surrendering more stake to most of the active SP who are willing to do so.

That is why I wish to call for economic improvement so that not just me (certainly including me) but everyone else are more incentivized to vote in an honest manner.

In other words, I want everyone including me to stop self voting or vote selling. The only way that can be done is if we fix to economic incentives that compel us to. Right now, my behavior alone can't change the system, it's either milk the platform or don't and surrender it to those who do. But a smarter economic system can change this. 

If you can spot an alternative agenda in the proposal that would likely lead to more unfairness than the current system, I would very much like to hear it
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properties (23)
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vote details (4)
@whatsup ·
Also he hold Raindrop and mostly the rest of the accounts he upvotes also.
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properties (23)
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vote details (4)
@zammie ·
If you want to really improve the economics of steem, give a bigger percentage of the steem reward pool to the steempower hodlers
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