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RE: Hard Fork 21: A Case For the 50/50 Curation Reward Model

in #steem6 years ago

Dear @juanmolina

Thank you for this amazing comment and your time. I'm guessing that you support HF21 changes and we're seeing them differently.

A 50/50 reward distribution assumes a balance in profits.

Personally I'm not sure if I agree that 50/50 is balanced split of reward. It does surely sound fair.

However I cannot think of many businesses out there, where 50% of company profit ends up as a divident distributed to investors.

Unquestionably the platform must evolve. If we are here, we must trust the administrators.

Question is: will this platform evolve only because it will reward current investors/stakeholders with double paychecks? Just wait until all those stakeholders will grow (and they will grow much faster now). We will witness centralization of power and New STEEM will be handed over mostly to those very few.

This system can only work if so called Whales would actually start delegating their Steem Power to quality curators. That would indeed allow those curators to be rewarded for their work and benefit entire platoform.

I'm simply afraid, that this will not happen. That at the end most whales will continue auto-upvoting publications of very few people, with their powerful votes and without putting any effort they will start earning x2 more than they did so far.

It surely would encourage them to slow down with powering down, which in effect would most likely bring up the price of STEEM. But that is the only positive outcome. And what would happen year from now, when those "whales" would start dumping this easily earned STEEM?

A 50/50 reward distribution assumes a balance in profits.

So again: 50% rewards for bringing value to blocklchain (creating content, commenting etc.) and 50% for just holding coin? It actually sounds like a recipe for upcoming disaster.

Yours
Piotr