It's genius but I do't really think @dan and @ned are going to implement that anyhow. If everybody is going to receive SBDs instantly, then gradually the amount of SBDs will be equal to zero. There is no way it can be created as an infinite cycle but the idea is really fascinating.
It's not genius. It removes curation from the equation and allows people to just post complete trash.
Personally, I think the parameters and algorithms for reward allocation are almost perfectly tuned. The bigger problem is getting people to increase the size of the pool of assets, the market cap. By itself, though, the current price level bottoming out, investors will start to come in more and more.
The community has matured quickly and most of the shake-out has happened and now people are not so narrowly focused on how the little bit on top is redistributed and starting to think more broadly, in my view, providing more options for investors is a major thing. I have proposed the idea of an alternative to Steem Power, that allows an investor to be more passive and not have to participate in curation, in exchange for a reasonable increase in its dividends. Investors chase after curation rewards to boost their yield, but this in itself is not a qualification for good curation.
The other thing is improvements in interfaces, and increasing the amount of utilisation of the steem currency backbone as a system of banking, this is starting to happen with sites like peerhub, and there will for sure be more of this.
Ultimately, rewards are just an incentive to get people to find out about Steem, and about cryptocurrency. The real goal is to develop a new type of corporate organisation that is open-ended and driven by innovation.
Great points as always:)
It makes me think about a post topic, actually, explaining to people that basically the rewards system in effect charges every holder of steem and steem backed assets a tiny amount of money to keep the blog and especially the pool of witnesses up and running. This is by its very nature a loss-making process, and this is why people need to understand the real thing that needs to happen most of all is that people park their money, and that they do their banking with Steem for their business projects. Without a growth in the capital base, the rewards must necessarily shrink.