RE: Improving the Economics of Steem: A Community Proposal

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RE: Improving the Economics of Steem: A Community Proposal

stevescoins in #steem • 7 years ago

I know I'm selling almost 100% of my votes now after vocally being against bidbots since the day they appeared

I've gone back and forth on this issue, and I have both bought and sold votes, and I've frowned on it in the past...it's hard not to get into this game when you see rather banal posts making hundreds and all the top votes are bidbots.

BUT...

The value of STEEM is based on whether people want to buy it or not. Holders of the coin (and of SBD and of SP) are only going to value that stake if it is profitable.

So from the beginning, the central argument is that holders of SP get to decide how they use their own SP

Obviously there is going to abuse of that power; humans gotta human, after all.

I don't think that system changes are going to change the problems here; my guess is that we need more whales to diversify the vote power...true decentralization.

A second problem is that content value is subjective. I see posts I wouldn't spend a cent on make good return from people that value that content. Remember the old NSFW content argument?

I'm not a popular writer (not claiming that I should be either); most people don't find value in my work, and I don't think there should be any mechanic that forces others to vote for it (or conversely, to prevent others from voting for it, if I was a popular writer)

7 years ago in #steem by stevescoins

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richatvns 7 years ago

right so advertising would put money in the pools attract many more users and actually generate more content. Because natural following would bring advertisers to specific authors. If a I user wants to opt out of the advertising they need to pay a small amount of dust each day. Essentially you need some small locked up steem.

I'm not saying fill the page with ads but a smaller header, and footer and a simple sponsor's ad on the right hand under a outliner plug-in.

In addition there should be plug-ins addable to the interface which are sponsored.

It would alleviate the costs, and incentivize new content producers to join the platform.

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valued-customer 7 years ago

"...holders of SP get to decide how they use their own SP."

There are ways to create incentive with code, and this OP is an attempt to tweak that behaviour with code changes. This does not tell people how to deploy SP, but simply changes the environment in which they deploy it. Tweaks are insufficient IMHO, and we need to eliminate incentive to degrade curation for financial return completely. We don't need to force water uphill harder. We need to use gravity to our advantage.

As to subjective interpretation, I think we agree that is what makes society valuable. Our interests are improved and extended by those our our fellows, and few would want everyone to simply agree with them all the time. Hell, I'd kill myself if I didn't have problems, challenges to surmount, or were denied that social benefit I desire most: criticism that enables me to stop being wrong and change my mind.

Thanks!

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iflagtrash 7 years ago

I flag trash. You have received a flag.

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stevescoins 7 years ago

we need to eliminate incentive to degrade curation for financial return completely.

I'm slow today ;>

Are you suggesting we remove curation rewards, or to stop messing about with the system?

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igster 7 years ago (edited)

I don't think there should be any mechanic that forces others to vote for it (or conversely, to prevent others from voting for it, if I was a popular writer)

Where have you seen people discussing about mechanics that would force people to vote certain content or not?

What people have been asking for is more rewards for curation, a seperate downvote pool and other ways to actually make it worthwhile for humans to interact in Steem ecosystem rather than just sell votes passively and get their rewards for doing so.

So from the beginning, the central argument is that holders of SP get to decide how they use their own SP

This doesn't mean we shouldn't tweak the system rules so this place actually becomes an attractive for normal users and we can actually start competing with major social media platforms...

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stevescoins 7 years ago

other ways to actually make it worthwhile for humans to interact in Steem ecosystem rather than just sell votes passively

it could be just the semantics of how I understand this, but that sounds exactly like saying "vote for content the way the community wants you to vote for content"

One of the reasons STEEM has additional value for investors is the possibility of passive income PLUS the potential likelihood of market value increase.

you either have to remove curation rewards for curating, or face the likelihood that some people will game the system for their own best ROI. when you remove curation rewards, whether passive or active, you remove the value for some investors.

The best way for any creator to make SP is to network AND to create quality stuff. I'm not good at networking, but I realize it's still the best way.

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igster 7 years ago (edited)

Yes, reading your comment made me remember one proposition I really liked actually!

Separate passive investors to their own reward pool so they don't diminish the efforts of active curators! If there are people who only want to maximize their profits from investment, let them, but we shouldn't let that behavior effect everyone else negatively and forcing them to join since there's no other good option. If we do this, there will be more curators, since they can actually affect what the trending looks like. And as our content discovery actually starts working, we'll start getting more members. And as Steem Power will actually have effect after this change, there'll be more demand as well, both for passive investors and active users which will drive the price up. So in my mind this is a win win for everyone, other than those who want to see Steem not succeed in a major way.

@elipowell

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abh12345 7 years ago

Separate passive investors to their own reward pool so they don't diminish the efforts of active curators!

Sounds like an SMT backed with an Oracle could be the solution here? That way the post rewards as viewed by the SMT may choose not to include bot votes and self-votes.

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igster 7 years ago

Yes, SMT's could try a lot of different schemes, and I'm also interested in making one that focuses solely non promoted ecosystem.

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