Why is the Steemit rewards pool decreasing so fast?
I made a post last week that shot up to $27 and was doing well, despite no votes being removed it will finish today under $15. Now Steem and SBD have gone down some, but they haven't declined almost half. In fact all my posts are down by a similar percentage.
After a reply on the subject from another user, he suggested it was the rewards pool shrinking and posted up a graph showing a sharp decline.
This seems to have happened just at the point where I was thinking "hey, maybe this Steemit thing is worth taking seriously, I'll work harder on my content".
Why are rewards being reduced, is it because some are dumping their SBD on the market?
Back to Pre- HF19 levels we go?
Is that where we're heading?Is it back to hoping a "whale" sees and likes our post, otherwise it's dead?
I'm not asking for The People's Democratic Republic of Steem.
I'm not asking for enforced fairness. Just that you give people a way to get their foot in the door and get the ball rolling. As it is it's far too unbalanced. I've read great content by new(ish) users, hilarious, informative and well-written and with 0.01 cents for a reward. I've also read utter banal shit that's barely legible put out by dolphins and whales getting thousands of dollars, everyone's chasing that curation reward I guess.
If I was a whale I wouldn't want the status quo either
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There are "whale hunting" services where people are tracking the Steem online status of whales hoping for votes like peasants hoping the local lord will throw them a gold coin. That's just fucking weird and a sign something's not quite right. If I were a whale that would creep me the fuck out.
There's also the "excellent post" spam every time they write something, this must bore them surely?
I appreciate the minds behind Steemit are probably developers not economist, but can't you guys at least consult one to find out how to make Steem worth it for new users while keeping the price relatively stable?
Sperm whales are taking it all
This post received a 1.4% upvote from @randowhale thanks to @purpleprose! For more information, click here!
@purpleprose @randomwhale THANK YOU
Ha, it was accidental but you're welcome. I sent a second 2 sbd for another vote though on the post itself but he's yet to vote. Hey @randowhale wake up dude.
Oh man there's me thinking you liked me
Ah, gis a hug dude.
I am relatively new here, and I can say in the time I have spent here I have written several original articles, some of which I have spent well over a week working on just to collect a few dollars and a handful of exposures while I see the 500th post on fidget spinners collect hundreds of dollars and thousands of views. I must say this provides me little incentive to put much effort into content for this platform, and the garbage posts cashing in is just mockery to the work I invest here.
Exactly, no-one's voting on that shit because it's good, they're voting because it's a whale/dolphin and they want the curation reward.
Cool username by the way, my favourite author.
If minnows are not given enough rewards I don't think steemit can be sustainable for long. When large number of people start feeling that it is nor worth their time, steem it will also die a slow death.
Yeah, it's not so much that the rewards are too small, it's that they often dont exist at all, if it was less than 1 dollar a post you could at least build something, often it's 2 cents
This post received a 4.7% upvote from @randowhale thanks to @purpleprose! For more information, click here!
He lives.... thanks dude, thought you'd been harpooned.
I've noticed my comments get more upvotes and rewards then my post.
meee tooo
I have a post that is making a penny and a comment under it making $1.00
It's often the same for me.
"why did I post that 1000 word essay when the one line shitpost got 10 times more..."
I comment on trending or hot post that have high volume and hope for a good reward. Only way for me to get rewarded on steemit right now.
I feel ya bro, but I think that's part of the problem. The posts already doing well because it's a dolphin or whale get tons of minnow votes and engagement because everyone's trying to get in on the action.
I agree but my SP is not high enough for me to up vote myself to the trending page.
Yeah, that's why we need some tweaking in the minnow rewards department. I don't blame you doing that, I've done the same thing more than a few times. If it works then it might be a good strategy.
Right after fork 19 I saw tons of engagement and many more upvotes but in the past few days engagement seems to have slowed down quite a bit, is it because people got excited post fork and exhausted their steem power?
I think more likely they started cashing out on Poloniex and the developers shit a brick when they saw the steem price falling. All cryptos crashed last week, so maybe the devs misinterpreted the fall and thought hf19 was a mistake and they're rolling it back. I'm just guessing here.
Very sad, well Poloniex says wallet issues will be resolved tomorrow so maybe people will bring over some steem and power up
I don't trust most economists.... the great thing is we can always HF back or to something new... to keep experimenting... always improving... the few I do trust seem to mostly have hinted to things like crypto happening... their is also a lot of market dynamics going on right now rocking the cryptoboat
@aggroed wrote a (rather hilarious) post yesterday in which he also intimated that something was amiss and that it is possible that whales are simply upvoting themselves and "raping the pool" - his words.
That makes sense, I'll read it after I've walked the doggo.
Here's a great post @penguinpablo penned today that may give you more insight.
https://steemit.com/steemit/@penguinpablo/here-s-why-your-potential-payouts-are-going-down
Thank you, I'll give it a read.
That was very informative, thank you. It explains a lot.
Oh good. Pass that one around so others don't get overly disillusioned by payout disappointments.
Will do, just resteemed it.
I agree @purplerose