Increasing curation rewards will just help those who have a lot of SP, I see no way in which that could help Steemit. The main problem is the we have this circle jerk voting, you scratch my back and I will scratch yours, and nobody else gets votes, 50/50 curation makes no difference to them because they always vote for the same people and they get the same votes back, the money they get will always be more or less the same. Only now they can also vote for other content and get 50% of whatever that author gets, win /win for them and lose/lose for the author, if anything reduce curation rewards that might do something. The problem with Steemit isn't curation, or bid bots or linear or curved rewards, the problem is greed.
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The current system incentivizes greed. That is the root cause.
I want a system that makes self upvoting less profitable than curating, but does not punish authors and small accounts as a side effect.
The current system improperly incentivizes greed. Greed is like gravity, it's simply part of the environment we are in. We can either create mechanisms that benefit the community from greed, like a waterwheel profits from water flowing downhill, or we fail, as these current proposals will do. It is the stakeholders - not the community of content creators - that will profit more from these proposals and gain an even larger portion of the rewards content creators make possible.
Tweaking the extant broken financial incentives is akin to trying to spend less on pumping water uphill. It's not ever going to be profitable to do that, and we need to make development of Steem more profitable than extracting rewards by corrupting curation.
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The words are wrong but the image is powerful. They are trying to solve problems by taking more 'rewards/water' from the users of the platform by widening the holes that are already the problem in the bucket? Am I missing something?
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If you can come up with any way to shift the status quo from our current failed system to
one where stakeholders actually vote based on content appeal with fewer or no negative side effects, I'm 100% all for it
Every measure I could think of had negative side effects which is why a combination of them used with modest intensity is likely best.
I think a lot of people (including you and me) are trying to think of a better system than the current one, but everything come up with so far has negative side effects as you already mentioned.
I like that you started a new discourse about it, which even Stinc picked up on. Maybe they can come up with a better system with fewer side effects.
The best I have come up with is:
And I don't think it would be able to kill bidbots (which is something I want as it hinders content discovery) Maybe you can think this through better than me...
Can you come up with something that will make bidbots disappear?
Maybe combine this with passive returns for "locked up" steempower for the investors that don't give a f.ck about content discovery.
I also had a thought experiment with linking ID documents to the account. Nobody is allowed to have more than 2 accounts that earn from curation and posting. You can create more accounts, but without being able to link them with ID they can only write without earning...
(Because linking to ID is the only way that I could come up with to cap the maximum earnings of whales... because they can always split their Steem to 100 different accounts)
Sorry for this long answer...
I think I did. Please see my reply to the OP below.
Thanks!
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Right, its because the stake and vote-contribution is public. Its proof of socio-economic-status and not proof-of-brain --> Hence shitty content... Stake only should give you the power to earn return (like in share-holding) not social power. Right now, its pay-to-win. Selfvoting contributes to nothing. Like downvotes/flags are contributing to nothing, like multiple accounts are contributing to nothing. ...nothing but abuse. If one wants a DAO one has to solve the identity-problem with something like Dan proposed with proof of life, then you can democratize the social layer and leverage MIRA. MIRA does not work in a plutocracy. Greed is good (its the driving force) but you have to regulate and utilize it like in bitcoin.
Proof of wallet will never provide nominal incentive to create good content. Proof of brain is not derived from stake, but the subjective opinion of actual persons, and no automated mechanism can provide it. None of these proposals changes any of that, but will make selfvoters and bidbots more profitable - at our expense.
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Wow
I love your opinion