But if we see it in another way, it is just that whales have more voting power and control the curation rewards, so they accumulate their SP ... With this update have large amounts of SP would be considerably less important .. And as we may know, it is the large amounts of SP that exist among all Steemit accounts that support the value of the SBD. In other words, could this update make the value of the SBD fall sharply?
I'm not sure if there's something I'm not seeing that prevents that, I would like someone to clarify that doubt.
I have seen this argument before, but consider whale power ups as a Giffen good. Currently, it would take an investment of at least $100,000 to make the most of curation rewards. Very few can afford to risk that kind amount on a nascent platform. On the other hand, today, the average person could invest $1,000 and see little to no impact from their votes. After HF19, their impact will go up dramatically. This should drive greater demand for SP investments of hundreds to thousands of dollars - the kind of money most people have.
So, it's the case of you may lose a dozen $100,000 power ups, but you could gain a million $100 power ups. Wise whales will hold on to their investment and see the $ value go up.
Also, SBD has nothing to do with whales, it's an independent market of its own.
Thanks for the clarification ... I see, thinking that way then this update will bring good things to steemit
sounds like my plan exactly, I was indeed thinking about putting in 1000 USD, if I thought there is a reasonable ROI. This seems to help out enourmously!
Mind you, don't expect much ROI on curation rewards, but see it as a bonus on top of being an investment as Steem grows and the price increases.
Good point, I meant more in vote weight and visibility. The whale system is inevitable in the beginning, and works well with a relatively small content pool
But with a larger group of users, it becomes impossible for them to be the sole finders of quality posts, so it is important that minnows' have more weight in pushing good content upwards. If not, the whole system becomes a lottery at best and a nepotism driven system at worst...
In future forks I hope to see the amount of comments on a post also impact a post's value.
If not, it is still too easy to manipulate upvoting with cheesy contests and other shenanigans that in the end don't actually generate value for Steemit.com as a platform.