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

in #steem6 years ago

Honestly, I don't believe it will change anything related to bidbots. Currently, bidbots charge a fee and offer a certain percentage of upvote value over that, many times its only 5% or even less. All bidbots have to do is adjust their fee rate in order to keep running their service. Really, there are a lot of people that use bidbots unprofitably, and they don't care because its just another way of purchasing promotion.

My largest concern is not about the 50/50 split but the downvote change. Downvotes are very problematic, because they create a negative atmosphere and ganging up. Imagine the cruel power it gives well funded political groups, religious groups and all the many diverse communities that dislike some other community. They can literally rush over to the other community to hurt them with downvotes. Its a terrible concept...

I am genuinely thinking about finding out how many people on Steem would be willing to move over to a Steem fork that doesn't have downvotes. I just don't believe downvotes belong on Steem and the future that can be created by Steem.

As for the 50/50 change, well, its never even truly been 75/25. When you go to steemdb.com you find the rates are quite different:

steem distribution averages.PNG

Who get the "interest"? Its the people that have their STEEM powered up as SP. Those are the same people as the curators... This means that curators are already getting 32.90% of the reward pool, just for clicking a little upvote button a few times a day.

The problem with Steem is not bidbots, these are actually effective services creating a valuable aspect of the economy. Bidbots get blamed for the state of Steem, but its never been the bots. The bots serve a purpose of promoting those that are willing to pay for the service. This means that rather than being so-called "leechers" they actually provide a utility for STEEM/SBD as a currency. Thanks to bidbots, we can actually buy something of value with our crypto! We can buy promotional services.

Then what is the problem? The problem is that no one is truly creating a sophisticated outreach program. Steem whales want paid to give out accounts, while blockchains like Energi are giving out $400 in their cryptocurrency for free!

Check it out here for $400: Give me 100 Energi!!!

Steem is a social media blockchain and yet Steemit Inc. is pretty much the worst social media presence in Crypto. Even JSEcoin has done a better job... That's embarrassing! Is anyone embarrassed about that? They should be...

But hey, that's okay, because...

The Hobo Media team is gifting everybody in this discussion a free 50 HBO! :)

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Dear @hobo.media

Thank you for accepting my invitation.

I realized just now that I never actually thanked you for your amazing comment. I appreciate your time :)

Honestly, I don't believe it will change anything related to bidbots.

Personally I think that bidbots will be growing way faster now.

Downvotes are very problematic, because they create a negative atmosphere and ganging up.

Very good point. I didn't really think about it that much. Thx for sharing your thoughts.

Thanks to bidbots, we can actually buy something of value with our crypto! We can buy promotional services.

You nailed it. This is exactly the way I see bidbots. Not as a way of cheating the system, but as a promotional tool.

Have a great monday.
Piotr