You are viewing a single comment's thread from:

RE: Improving the Economics of Steem: A Community Proposal

in #steem • 6 years ago

I see, maybe I misinterpreted your views, I'm sorry, I was going through a lot of responses

I merely like these economic changes implemented sooner rather than later as they're imperative for a functional content discovery and rewards platform. I don't believe SMTs and Communities could sufficiently mitigate all the ill effects of our currently economic failure want wouldn't not want to rely on them exclusive to get us out of this mess.

It's not really a choice between SMTs or a working economy, the latter should take very little implementation time if we can work out the details and converge on the right numbers. So either way, it won't be much of a setback or delay for SMTs and Communities :)

6 years ago in #steem by
$0.00
    5 votes
    Reply 5
    Sort:  
  • Trending
    • [-]
     6 years ago 

    "...voting rewards are predictably used as staking returns or payment, which is precisely how they should not be used. Profit minded businesses using voting rewards in lieu of transfer are far more likely to extract value from the system than contribute any real value themselves. And it's not their fault - we simply have the wrong economic incentives in place."

    This is exactly the problem, and tweaking rates and splits won't end it.

    We need to end it, and we can.

    $0.03
    • Past Payouts $0.03
    • - Author $0.02
    • - Curators $0.01
    2 votes
    Reply
    [-]
     6 years ago 

    I flag trash. You have received a flag.

    [-]
     6 years ago 

    I really appreciate your efforts in order to change the mathematics behind the Reward curve in order to bring more quality and value into content creation and curation.
    I think your solution of how to reward content creators and curators should happen on the level where the Action is...in Communities and SMT projects.
    If we still try to fix the reward curve on the Steem Blockchain level we will still miss the problem that the Steem Ecosystem is not mainly about content creation and curation!
    The fact that we have real business minded projects like Steemmonsters, who bring in value thru an awesome gaming platform, are still in competition to its underlying base Blockchain structure, which is Steem tangled up with Steemit.com (Aka Blogging) + Reward Pool distribution.
    Its genuine counter productive to have the Reward Pool tied up to one aspect of the Blockchain - Blogging / Steemit.
    The Baselayer Steem needs to be just an infrastructure Token which is good to serve RC ressources, Voting rights for Witnesses / Proposals and maybe approved Dapps and Communities (selected by the Steem Foundation).
    I hope that you understand that I like your ideas and they will find their way in the POB mechanism, but they need to be implemented at the right level on the Blockchain, which is IMO the SMT projects and Communities.

    [-]
     6 years ago 

    "...the Steem Ecosystem is not mainly about content creation and curation!"

    Exactly, in terms of financial incentives and how they have demonstrably been used.

    [-]
     6 years ago 

    I flag trash. You have received a flag.