RE: Downvote Pool Deep Dive

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RE: Downvote Pool Deep Dive

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prydefoltz in #steem • 6 years ago (edited)

The number one goal of the steem blockchain should be attracting more eyes on the page. Downvoting does not do that. When the downvoting pool gets misused and it will be, you will have people chased off the platform.

The value of a post is subjective and sometimes people are jerks. Downvoting empowers jerks and puts us all at risk. There is no appeal process offered. Instead, empower those people that encourage engagement and a growing community. Change policy so that it is more difficult to scam the system and/or create a block-chained backed downvote curator to deal with the bad hats. Downvote wars are not in the best interest of the steem blockchain. Infighting is not attractive.

6 years ago in #steem by prydefoltz

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jrcornel 6 years ago

Agreed. This will not help attract more users. If anything, this is likely to drive current users away.

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9 votes

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thedegensloth 6 years ago

For every user, there is more to take their place who can deal with the system. I heard this phrase used by more than a few high ranking people in the community so some people don't even care that we will lose users. They think the reward split for eip with offset this downvote pool with new users.

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jrcornel 6 years ago

So, we shouldn't care about the turnover because new users will always be coming in? Yea, that pool tends to dry up pretty quickly, especially when the ones that leave tell all their friends not to join and how terrible this place is.

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prydefoltz 6 years ago

Of course, we should care about retention.

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prydefoltz 6 years ago

More users will increase the price of steem. Those with a lot of SP have way more to gain ... astronomically more ... by encouraging the growth of a wider base, we ensure success for everyone.

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2 votes

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thedegensloth 6 years ago

Check out this comment i left above" https://steemit.com/steem/@thedegensloth/ps1ot8

I proposed we used the method the USA uses to keep dominance on the world using it's currency. Make so many people hold it they have no choice but to use it. This could and likely would have an upwards trend on the market as we see a real-life example of it on a daily.

The ultimate goal should be for us to be in every household. That or making everyone know of the chain.

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valued-customer 6 years ago

In order to do that you'll need to discourage profiteering and downvotes. The EIP does the opposite. Improving retention will depend on rising Steem price, as our short history shows.

Every time the ability of stakeholders to extract profits from rewards has been increased, the market cap of Steem has decreased. We've slid about 30 places on CMC in the two years I've been here.

Wanna stop that slide? That's what you'll need to do to make Steem a household name and currency. To do that, you're going to have to encourage SMALL stakeholders to use it, and allowing substantial stakeholders to censor, downvote, and outbid them for rewards doled out by bots does the exact opposite.

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iflagtrash 6 years ago

I flag trash. You have received a flag.

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3 votes

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valued-customer 6 years ago

That is called capital gains, and it is the essential mechanism that has been relied on by investors since prehistory. Steem has tried to improve on that, along with other improvements, such as rewarding creators for the content by allowing other users to allocate rewards to them for that content. I think rewarding creators has been negatively impacted by the attempted novel mechanism to reward investors, and this can be fixed by eliminating unrestricted payouts that allow profiteers to pervert curation for financial gain. Actual curation has nothing to do with financial manipulation, but is allocating rewards to creators for content quality. The financial manipulation has proven to all but eliminate curation, and substituted profiteering.

Capital gains is THE proven mechanism to drive investment in adding value to the investment vehicle, and this increasing it's price. Rewards pool rape is the opposite of that. Tweaking the rate at which profits are extracted won't fix the problem. It can only tweak how they are extractable. Any extraction of those rewards for profiteering purposes is exactly contrary to imbuing Steem with value and creating capital gains.

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1 vote

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iflagtrash 6 years ago

I flag trash. You have received a flag.

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3 votes

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valued-customer 6 years ago

@curatorhulk was claimed to have been begun for this purpose. Unfortunately, I've seen no activity from that account of late. @freezepeach does act to counter abusive flags. Some other accounts might do these things too, but I'm not familiar with them because every problem flagging I've sought to rectify has been solved by @freezepeach.

More folks delegating to @freezepeach, and more initiatives begun for this purpose would help.

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2 votes

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paradigmprospect 6 years ago

useful, cheers

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1 vote

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iflagtrash 6 years ago

I flag trash. You have received a flag.

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3 votes