Dear @gandhibaba
Of course I'm marvellous :) Somehow everyone sees it except of my own wife hehehe :)
for promoting this work to your audience
I hope you will manage to reply to some of those valuable comments.
A ponzi scheme is a scheme where earlier investors are paid with the money of the later investors.
Ehm, I think this definition is a bit outdated. Masternodes are mostly ponzi and they "in theory" do not fit your description.
If investors are incentivized to hold SP, I think it is worthwhile because the price of Steem depends on their actions.
That's correct and I do agree with you fully. Investors will have reasons to hold SP and probably powering down will slow down a lot right now.
But those who actually bring value and create content + engage with comments will suffer. Eventually we will end up with huge speculative bubble, with very few authors, bidbots bigger than ever before and with hardly any traffic. Not to mention that if price of STEEM will grow then this place will turn into ghost town (new users will not be willing to spend 100-200usd just to power up to 50SP -> min necessary amount to be able to "test" Steemit without hiting Resource Credit limitations right away).
However, you seem to ignore the fact that a 50/50 model will leave the bid bot user in great negative ROI
I ignore this fact because it will be VERY EASY for bidbot owners to adjust. Little math, few small changes and bidbots will be running again. This change will only force those programmers behind bidbots to implement some updates.
I really wish to have your optimism. I believe that short term this change will indeed bring up the price of STEEM, but in long run I see it as a huge opportunity for abuse. Those who are rich will easily get richer (bringing no value to STEEM blockchain) and content creators will struggle more than ever before.
Yours
Piotr
Any new changes MUST give us content creators and manual curators something worthwhile. I'm just not seeing taht in the HF21 proposals. Finding a way to curb bid bot abuse is far more important in the long-term than is tweaking the reward calculations. As for the numbers game, switching to 50/50 is a HUGE change, and if any changes are to be made, it should be a gentler adjustment to see how it all pans out there first. I have seen others propose something like 67% author, 33% curator to test the waters.
The last HUGE changes from a creator viewpoint were the change from 1day/30day payouts to a single 7d payout, and tweaks to the reward curve. The former gave content creators a better single window for getting eyes on their content. The latter seems to have cut down on votebots. These were overall for the best, I think. How will HF21 help us fight the deluge of spam and bid-bots? That is what I need to know. The platform needs to be sound before STEEM can gain in value for the overall market. Until the platform is better policed, I don't foresee any hope beyond altcoin speculation as Bitcoin gets volatile again. Perhaps a separate downvote pool would help. Maybe spending extra RC instead of vote power for flagging bad content could do something, since I now rarely make any measurable dent in my RC reserves.
[/rant]
Oh, and thanks for sending a memo that wasn't another BS bid bot or resteem offer.
Thank you for this your comment @jacobtothe
I only just realized that I never thanked you. Have a great monday ahead :)
Absolutely :) My pleasure.
Yours
Piotr
Hard Fork 21 contradicting Hard Fork 20.
I still think we need to get rid of the bidbots and everything would go back to the way it was before them.
Why can't the blockchain simply request human verification before starting up a voting session?
What if the blockchain just asked simple one line random questions that a human would know?
I.E. like what color is the sky on earth? On Mars?
blue, red, orange purple?
And then only give the bidbot (user) 10 seconds to answer. We could use old nursery rhymes, things the bot guys could not guess. How bid bot programmers going to program the bots to do a whole bunch of random Q&A??? Nope, They couldn't keep up with the changes!!!
We just need to focus on the tech behind shutting down the bots!
Also we need an external database that manages and adds all the random questions. NO KYC needed, just little stumbling blocks. Just like recapture, but in text format!!! The 50/50 is not going to do anything but make the bidbot abusers even more money and make people like me who are outcast left even worse off.
I.e. my comment for example is not spam, but if we could stumble the bot my comment could live!
You're a waste of space. You've been flagged like the trash you are.