RE: What to do when the price of Steem falls...

[dune69]

I've been looking into switching from 50/50 to 100% power up. I didn't know if it was worth it for minnows. I'm just starting to try it out
I'd rather have a stake in steemit than cashing out
Thanks for the info

Comments

[the-traveller]

Hi @elfspice If you really make recommendations to policy and hardfork changes could you please consider to recommend that the algorythm takes comments into account for rewards.
the way the upvote system is set up currently it is too easy to game it. Robo voting, empty accounts etc.
This is from the Steemit white paper:

The challenge faced by Steem is deriving an algorithm for scoring individual contributions
that most community members consider to be a fair assessment of the subjective value of
each contribution. In a perfect world, community members would cooperate to rate each
other's contribution and derive a fair compensation. In the real world, algorithms must be
designed in such a manner that they are resistant to intentional manipulation for profit. Any
widespread abuse of the scoring system could cause community members to lose faith in
the perceived fairness of the economic system
Steem is designed around a relatively simple concept: everyone’s meaningful contribution
to the community should be recognized for the value it adds. When people are recognized
for their meaningful contributions, they continue contributing and the community grows.
Any imbalance in the give and take within a community is unsustainable. Eventually the
givers grow tired of supporting the takers and disengage from the community.

I find it hard to believe that an upvote is a more worthy contribution than a comment. Yet you see posts where the # upvote to # comments ratio is totally bogus. It shows too much gaming of the system.
I would like to see at least a consideration of this ratio to count in the reward pool share. Posts that are robo or auto voted to the top don't necessarily bring value to the platform...
Posts with lots of comments should be a more reliable signal that there are true valuable contributions made with this post.

[the-traveller]

yes I think it has great promise but is still very vulnerable to be gamed and take advantage of. I think your view of first generation might be correct and other iterations will follow. I'd like to see this one succeed though :)

[dune69]

Thanks.. That make a lot of sense :)