I think the devs should take @jesta's suggestion into consideration. Having a continuous payout cycle is a powerful idea. That being said, I think the shorter term payout is a "sticky" feature that brings people back to the site. 24 hours is closer to "instant" gratification than 7 days. In 7 days, someone might not even remember to come back and check out how their post is doing. But if you are providing a shorter term payment window (24 hours), I think it is more likely to stay on their mind.
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Having a continuous payout cycle is also a good way to require an unbounded amount of memory to run
steemd. There are engineering trade-offs here which we dive deeply on.24 hour payout window makes Steemit much more exciting