RE: Forum steem
Topic: 50% Author / 50% Curator Rewards Changes
This is one of the proposed changes for HF21, the split is currently 75% Author / 25% Curator. Some say authors will benefit more due to the increased curation incentives away from self voting and delegating to bidbots, however will passive stakeholders really change their behaviour and bother to evaluate content? Is it possible to game this new system with multiple accounts ie author and curator accounts belonging to the same person, and what about the issue of making Steem a place of back door deals and begging whales for votes rather than just paying to promote your own content?
Some businesses and apps may be affected, especially if they are fundraising platforms like Fundition and Utopian. Publishing houses will find it more difficult to setup shop on Steem because they have less share of rewards to give to their writers, it also affects frontends that rely on beneficiary rewards.
Looking forward to your thoughts for and against the 50/50 split.
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Looks like I accidentally posted this twice. Deleting this thread.
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I'm absolutely against a 50/50 split. It won't magically increase the price. It won't make whales vote more for the average user.
Who will profit?
I actually count myself to the second group. I'd likely benefit from a 50/50 split, due to people seeing me as a good target to earn (which is a perverted way to look at content creators).
Who will heavily suffer is the average user, who's already earning below a dollar per post. That dollar will be cut in two, and it's likely that the post won't even be voted because there's not enough curation to snipe.
This is another step away from content, the one thing that really differentiates Steem from most other blockchains. The reason many users even came here.
I know many don't see a value in content. I know many think that those who invested money should be rewarded more. But you're forgetting that without content, there's no reward either.
Time to unearth an old meme:
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@suesa
Exactly. I love seeing the "before you go saying this will only / mostly benefit whales..." preface to posts defending the 50/50 split. If you have to go prefacing your changes with that kind of rhetoric, you are the problem.
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Thank you for getting this started @thecryptodrive. There has been a lot of discussion bot in posts and in some of the discords. The topic was kicked around at the monthly Witness Chat last Wednesday.
Unfortunately there was a lock of top 20 witnesses present to hear their views on the changes. The general consensus I heard was that most folks want to see the SPS. They want to see it funded effectively but not through hitting one area of the inflation pool. We all should carry the effort.
I heard almost no support for the idea of the 50/50 split. Most people don't believe it will change any current behaviour and will serve to discourage content creators. Some forget that content creation takes many forms, not just blogging. We are creating content in conversing here for example.
The downvote pool did generate a diversity of views. Some felt it would invite more flag wars, some thought it could be of some benefit. Others thought it would not make a big difference either way, they would be unlikely to use it any more than now as there would still be a retaliation mentality.
I'll mention this forum to others and see if we can get some conversation going.
Shadows
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This is already possible in the current enviornment, so it is a none issue. "Back door deals" is just another way of paying for votes not very different from promotion services from an economic standpoint.
This is a legitimate argument against the 50/50 split. How many businesses are currently built around the 75/25 structure? From that list how many of them create demand for steem (in a way that can be measured) and are not just here to milk the reward pool?
I am for the EIP as a whole from a game theory perspective. You cannot isolate the 50/50 split from the other components of the proposal.
If some big accounts start to use the "free" downvotes to counter the most notorious self voters that abuse the system it will leave more rewards for legitimate users (which would mitigate the reduction in author rewards from 75/25 to 50/50). In my opinion that would be the most important test to gauge the effectiveness of the EIP (if approved).
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For example, with Utopian, they always end up voting last due to how thourough the review system works. A 50/50 split would lower the amount of reward going to the contributor and instead distribute it soley to the people who votes right before the large utopian vote. This could lead to people just setting up bots to vote on posts they know will receive a large vote later such as these.
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I think we have to be pretty realistic about this. There is always going to be a way to abuse the system, and in crypto the whales are always going to be able to make much more money than the average normal user.
What we have to see is that the system we currently have is obviously broken.
Most of the value of the votes come from the voting bots, there is relentless self vote farming especially on low value levels to disguise it, and, I'm sure, no one finds the current system fair at all.
There is not going to be a perfect system, but the only way to find a solution is through trial and error.
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@ajayyy, regarding your comment:
I agree, one of my concerns is the pile-on effect by users that won't know better about the changes to the linear curve as likely the frontend won't show anything about that. Centralisation of curation might be a negative side effect, I remember the old days where everyone used to just vote sirwinchester because he was gauranteed to have many voters so his posts were a no-brainer to earn good curation by front-running the rest, not saying his posts weren't of value, he made some good public contributions to Steem, just showing the mindset, even the media spoke of the pile-on effect of voting when Steem was new.
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@onthewayout from what I can tell most big accounts are very passive and too busy with other things to bother, one major component missing from the HF is the ability to delegate the free downvotes, but this can be mitigated with tools with posting authority, BuildTeam might release such a tool into Steemvoter.
@shadowspub thanks for engaging and offering to bring people here to discuss further, I am very much in your camp in terms of the 50/50, I'm not sold on it due to the negative perception, it might help the economics overall but the average user doesn't understand economics and only understand that they are doing the content creation work and losing half the value.
I'm onboard with all other EIP and SPS changes.
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