Steemit would be a whole new thing. The very thing that makes Steemit what it is would be turned upside down don;t you think?
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Steemit would be a whole new thing. The very thing that makes Steemit what it is would be turned upside down don;t you think?
In a good or bad way?
haha. well, i don;t know. That's thing about all these proposed ideas being tossed a round. Everything is a risk to do it or not to do it.
I think the reward system works as it should. Its the as a great Steemian once said "It's the human factor" that messes it up. (was not in reference to steemit)
The code the formula is solid. How votes are directed and rewards are earned being controlled by such a few people is the issue. Maybe this plan would balance that but someone will find a way to get around it.
Bots are the life of Steemit. Without bots voting I think people would get less rewards.
Without whale votes no post will earn decent returns. The point of this is no single whale has enough waking hours a day to read every single post and then decide which ones are worth a vote Not enough hours a day.
The bots can help deserving authors get quality votes. However I think truly believe these bots need to be reprogrammed to better spread the wealth and to make Steemit look more desirable to potential investors.
The tough thing is
Writers vs Curators. Making one of them happy will probably make other upset.
There's a number of things in here I don't think are true, at least from my understanding. Let me try to explain.
There will always be a "whale vote", even if all the current whales didn't vote.
If everyone with over 10000 SP stopped voting tomorrow, the user's currently out there voting with 9000 SP would have votes that are worth a ton and be the new whales. The total amount of rewards going to authors wouldn't change just because they stopped voting.
I'm pretty sure if no one used steemit, one person could vote with 1 SP on a single post to earn the entire 50k/day rewards pool. (I'd love to know if I'm wrong here, it's an interesting thought experiment).
Also not true because of the same reason above. Votes don't actually generate rewards, they just assign a percentage of the daily rewards to what's being voting on. "People" (in the collective sense, meaning all of the authors) in total will always earn the same amount every day.
The one thing bots probably do well is help distribute the reward pool. They aren't doing it to help authors though, they're doing it to earn themselves rewards :)
When when everyone with more than 10000 sp stop voting the wahles will different than the whales today. So I was referring to how things are at them moment. If there was only one person voting with one sp I would guess that all the rewards would go to that post. Thats not how it is today though.
Bits are very confusing but I still them as a good thing and should be utilized better.
But that really good reply. thanks man. Like to hear that side.
This is true, but if we need someone to test it out and verify, I would be willing to volunteer. For science of course :)
There is some misunderstanding in your response. Whales do not add any rewards by voting. The rewards pool is a fixed amount each day, and will pay out the same amount of rewards regardless of how few/many people voted. If no whales voted at all, then votes from dolphins would be the ones determining where all the big payouts would be.
I have always understood that. Votes don't create rewards the allocate them.
Thats not my issue and i didn't mean for my reply to sound like that.