I am up-voting your post after a long time. This is a detailed review of how people are gaming it.
I think one good way of curating these kind of practices would be to make payout at the end of ten days. Allow up-votes till 7 days, but allow negative votes for the next 3 days to make sure that people don't misuse the system. A list of posts, comments that have huge payouts due to should be posted which the proxies(or general steemians) can take a look at and approve.
I am not sure how feasible this but definitely we should try something like this to make sure that the systems are not abused.
Approval should come from no one. No one needs sexually frustrated 'mods' killing our payout/vibes. Too open for abuse. What happens if you upset their fragile views on life. They'll silence your account. Perfect for censorship behind good intentions.
Tyranny of the majority is a real thing. It's part of why @Dan made Steemit.
I suspect that the "mods" in the family court system had no problem with his being divorce-raped. Mods will virtue-signal to white knight any cause they think will raise their social standing.
r/bitcoin is a perfect example of just how ridiculously abusive mods can get. That place is 1984.
OTOH, when people are draining the rewards pool that we all rely on for rewards, we all need to take action to protect our common resource. Just letting anyone do whatever they want, even when it is attacking our own assets, or shared assets, is just as foolish as letting the majority determine your every thought, word, and act.
Naturally it seems naughty, I’m just not a fan of the Karma Police.
Shaming is enough.
Soon there will be better ways on Steemit to make a profitable return than self voting such high amounts. Investment opportunities via loans in delegating SP.
Those already exist. @neoxian has been doing so, or was. He may have given up. Dunno for sure. But such delegation will potentiate greater earnings how?
Only by doing exactly what whales do to gain rewards: self-votes, circle-jerks, and etc... How else could having a substantial delegated stake be profitable?
Lending it out, sure I can see that being more profitable for those that find the aforementioned scams unpalatable. Borrowing, though, not so much.
By earning them a high % of interest. No more posting/blogging needed unless they enjoy doing so.
These do not exist to the level I’m talking about to satisfy the above abuses of voting but one day will, and not only delegation but other methods for the investments of high SP accounts. If the Steemit platform grows, the opportunities will come.
And it needs to be available to anyone as an investor, not one person loaning out to others. Everyone gets to play, at different levels, based on their stake.
If this existed, then why bother shaming yourself in public when you could earn up to 45% interest/profit per year by clicking a few buttons in a few minutes.
I really think that were such interest available to holders of substantial grips of SP, then they wouldn't rent it out to someone that could make a profit by renting their money, and earning interest on it. It just makes no sense the original possessors of the SP wouldn't just take the interest themselves.
They are not renting it out to 'someone' they are renting it out to a business. Everyone could do this if they have the minimum amount needed, otherwise buy more Steem or simply blog and comment.
It all depends on the reason the SP would be used for a business: the more it has, the more money it makes.
They cannot re-rent out delegated SP, it is locked to one account at a time until canceled.
I agree with you. They shouldn't allow those with huge amounts of SP to gain, essentially free money... Yet with that said, The Steemit platform is still in beta process. Hopefully they can patch these issues soon.
80 SBD for a picture sure of a fat cat... What the fudge?!
This is probably the best suggestion I've seen to handle this issue. We'd still have the problem of "wasting" voting power on flags and the effort put in, but this is an improvement.
We need a separate flagging power.
I like this solution well played @gokulnk
That is a pretty interesting and original idea! I like it.