It doesn't matter how many no effort users we have, they add nothing to the chain.

You, at least, do something.
What exactly I'm not sure, but you are not helping your position by advocating for no effort rewards, iyam.

Play the game, or gtfo.

Stop trying to line your own pockets while contributing nothing, or worse than nothing, eh?

It doesn't now, why should it scale?
--> SMT

I can't change your mind. The global reward pool must be done away with. 

The only way rewards can work is within targeted communities where the rules and the etiquette is understood for that manageable community. If the global reward pool can equitably redirected toward communities, so be it, but the future is with self monetising communities for sure.

The only reason it would not work and never did, is the incredibly terrible distribution of stakes. 

If the big stakeholders did not act like they won their HIVE/STEEM at a bubble gum machine, the reward system would work fine.
It's only because of their ignorance and laziness that services like yours were a success in the first place. When this place was fresh, your business would have been flagged to shreds before it had even started.
After a short while, the big players started colluding and now we have rewards absolutely independent of content.

I think at this point everyone can agree, that @ned picks some weird ass associates and with a bunch of them being STILL top stakeholders, this project seems doomed.

The reward mechanism is fine.
Much like anything 'game-theory', it only works with enough __rational__ players, though.

In theory it could/should work. I am a strong believer that the main metric for Hive coin valuation is the user-base growth. More users, higher the price. So as tens of thousands or millions join the network, this growth will be reflected in Hive's price. 

Since reward distribution is kinda calculated, displayed, and distributed in HBD (or USD for simplicity), the higher Hive price will easily be able to reward millions. Even if users will get much less Hive coins, in HBD terms value would still be decent enough to participate. 

So in theory it is more than possible. But this requires high stakeholders collectively embracing the long term gain strategy and focus their reward distribution influence to incentivize participation. Any high stake holder will be much better off with $10, $100, $300 price rather than accumulating short term rewards in the form of authors rewards, curation rewards, or interests.

Reward distribution is not broken, it just requires a lot of time and effort. Most stakeholders don't have that time to be sitting at the computer curating and properly distributing rewards. But at the same time there are communities who are putting in work to grow their user-base. Bridges between these need to be built for more effective and efficient reward distribution. 

Any form of content should be acceptable, communities should be able to self moderate based on the engagement, interest, etc and be able to deal with abuse. 

Most importantly though, where Hive fails is rewarding content consumption. Content creators are rewarded, curators with decent HP are rewarded, stakeholders are rewarded, but the crucial majority of the economy - low HP content consumers are not really rewarded. If we can solve this, then we will be able to attract millions. Because vast majority of the users are content consumers and not content creators. Our reward distribution system turns content consumers into content creators, because that is the main way anybody can be rewarded in the economy. 

One of the solutions for this can be building a Hive Browser. If we have a Hive Browser, it may serve as a Hive Hub for Hive Apps. Not only users can be rewarded for using the Hive Browsers, they will easily be able to discover all Apps on Hive. Think of it as an App Store for apps on your phone. Something like this will even bring in more talented developers to the platform. 

Yes, I know there is Brave browser already. I would think Hive Browser can be much better, because it can connect to its own blockchain, create a bridge between developers of various apps and make all apps be easily discoverable by users. 

If we get more users, then all influencers will follow. What influencers, content creators, apps and games developers really want is discoverability and audience. 

I think you can build a Hive Browser and even get it funded by HDF. :)

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I can feel it, men. Law of hive considers what I do is not worth much.

This isn't my own view, but one could say that there will be unfairness and problems with the current model, and that it will be worse with scale, but it remains better than an alternative model. Or that it is too risky to change it. 

Personally, I don't know, still thinking about it, and want to understand it better.  

Another thing to consider is that unless the price scales exponentially, with such a big user base, would the reward pool even matter?

The thing is that it's somehow obvious that current system doesn't work effectively, at least not from investors point of view. We have the largest community and it seems that regardless of it we can't convince investors to participate. 

Something needs to change. I'm putting all my hope into SMT's.

If by scale you mean trying to police a hord of reward pool leeches the answer is no. If I remember correctly Dan Larimer designed the system as a way to distribute the coin and the whole idea was that the users would moderate the allocation of the rewards (the famous "crab bucket" example described in the original steem white paper). Under this conception even "bad actors" do useful work by selling on the open market (and thus helping in the coin distribution). In the real world the majority of ordinary users don't try to moderate the reward allocation.

So no, I will not try to change your mind. 

First thing is needed in hive is  fixing of curation curve. Afterwards everything can scale.

Is generic content a real problem?
I don't think so . Do you think that facebook and twitter is full of information in every word written there?

**Absolutely not** - for hive to be success we need to have investors who would build their own community and reward them based on their investments. 

First you should get those 100k users and then think how to deal with real not imaginary issues.

I would think it will scale just fine in a technical sense up until there are so many posts and things being rewarded that everyone gets payed 0.001hp or something, at which point it kinda breaks.

I would say that when SMTs are released hive will basically turn into etherium.

Hive will end up as the base core currency required to stake in order to run the SMTs and place like hive.blog, peakd and leo finance will make their own tokens and use those to rewards content in their own ways. At this point the hive reward pool could be retired in favour of a basic inflationary stake mechanism or something and basically be used as fuel to do transactions on the blockchain.

The global reward pool is fine, but we need to be able to reward people for activites that are not just blog posts.

this is the only way to grow a true 2nd layer