Do you mean 4% in USD terms or Steem terms? Someone calculated that in a comment to my post Steemit Reward Pool Abuse, Myth or Fact? He found it amounted to 25% annual ROI in Steem terms. That is still a good deal of money, if Steem manages not to lose its value against USD.
4% daily would be an insane ROI especially if you consider the near 0% interest rates nowadays. I can only imagine that happening in USD terms when Steem is making a rally. Otherwise, it doesn't seem possible or sustainable to me.
By the way, as I said above, the ROI is the same for accounts of all sizes. Smaller accounts are especially advantageous, because no one cares about them.
No, I mean that out of all of the rewards received by all users on Steemit daily, haejin gets 4% of it. Doesn’t matter the value, there’s a set amount available on the blockchain ‘being printed’ and he is taking 4% of it all.
In other words, if there were 25 other users receiving the same daily rewards haejin gets, nobody else would get ANY. That’s why it’s a problem.
I don’t even care if he posted ten posts in a day and pulled in that much, if he only did it once a week. But it’s every.single.day. He singlehandedly milks this cow for 1/25 if it’s total potential output.
You're right. I've completely misread your comment. I'm sorry for that.
Actually, I was looking for stats like that, so thank you for that.
I'm looking for reward distribution stats. Stats like percentage of the pool to each level of Steem Power ownership.
My gut feeling says that abuse is widespread at all levels.
What's the total percentage of the reward pool that is abused?
No one knows the answer to that question. Is it 10%? Is it 50%? Is it 90%?
My hunch is that it is closer to 100% than it is closer to 0%. Or in other words more than 50%.
That's the feeling I get when I look at the trending tab. The signal to noise ratio there is 1 to 100 for me.
If we assume that the abuse ratio is 50% on Steemit, by eliminating that user, we'll eliminate only 8% of the problem. The other 92% will remain.
If that 92% consists of thousands of small accounts, that would be even harder to deal with.
That's why I don't think we can eliminate the reward pool abuse problem by focusing on few people only. The system has to be changed completely.