RE: What do you guys think of the 7 day limit to be able to earn money for your content on Steemit?
I would even go so far and argue that it might be good to use flagging in a much more opinionated way. If you think a post is drasticly overvalued it should be OK to downvote it. I know this argumentation has led to people being shut out from the reward pool completely and I really dont want to advocate auto downvotes on authors you dont like and dont want to be seen/hidden.
The 7-day payout period has been a thorn in my eye for the longest time. As you mentioned you get what you incentivice and with all this hot/trending and dead after 7 days sensationalism, you will get a bunch of overhyped(overvalued) posts.
I was told the main problem is delegation. You could cash out your rewards after 7 days, delegate all your SP to another account and then vote again on the post.
If we need to get rid of SP delegation to get longer, preferably never ending, payout periods on our posts, then I am in favor of getting rid of delegation :).
I think the end result will simply be more repetitive posting habits. I cant imagine this would be a good thing for the platform. Also, if people figure out ways to exploit the platform I imagine it would be something that is fully public and thus should come with a fear of being found out and flagged into oblivion.