RE: Time To Wake Up and Fix Steem's Voting Problem

[inventor16]

N2 can be exploited equally as linear, just need to divide steem among many accounts. The solution is account based voting imo

Comments

[teamsteem]

Gaming it the way you're mentioning it isn't so straightforward.

https://steemit.com/non-linear/@felixxx/more-n-2-47

And as Dan pointed out:

At some point we must accept that we cannot prevent all evil. We just need to make sure that the amount of evil we tolerate doesn’t prevent Steem from growing.
Magnitude Matters

If 100% of all rewards were distributed via a flawed system, then it could devalue the entire platform; however, if just 1% of rewards are distributed by the same algorithm then any misallocations can be tolerated.

The trick is to identify the proper balance between incentives and the risk of abuse.

[smooth]

We just need to make sure that the amount of evil we tolerate doesn’t prevent Steem from growing

There are very good arguments that n^2 has too much evil and prevents (or at least inhibits) Steem from growing.

I'm sorry, but you are elevating the Steem white paper to some sort of holy text or carefully researched and peer-reviewed science, and it really isn't that. It is a marketing pitch that got written and implemented in a few months to launch a blockchain product.

[teamsteem]

you are elevating the Steem white paper to some sort of holy text or carefully researched and peer-reviewed science

I've never implied the Steem white paper couldn't be wrong. I even said I could be wrong about linear rewards many times and I also said I would prefer to be wrong about linear rewards.

It's not necessarily the most fun feeling to disagree with people you care about. It's important to stand up for what we think is true yet remain open about the fact we could be wrong, which is something I've been upfront about.

[smooth]

Fair enough. And disagreeing does not mean that you do not respect or like the person.

For that matter, often when I 'disagree' I'm not even necessarily claiming the statement is incorrect as much as not well supported. (Unsure without review how much this applies to our recent spread-out conversation.)

[inventor16]

N2 has it's own problems, like barrier to entry. Whales like Curie can't give massive upvotes to minnows and keep them motivated.

I think a hybrid way of keeping stake linear rewards on steem, and N2 on SMTs with account based voting is ideal. Keep everyone happy. You need to keep investors happy too or they'll just power down and look for different opportunities.

[teamsteem]

I agree other solutions are possible.

[smooth]

Dividing among accounts makes no difference at all. Votes are added together before n^2 is applied. So (vote_A+vote_B+vote_C)^2 is the same as one account D=A+B+C with all the stake voting once.