Some moans about HF21
I've tried really hard to not be a curmudgeon on Steem but I'm afraid what I read on the HF21 page has irked me, to say the least!
Rewards
The rewards curve is changing. We expect posts that would make more than 20 STEEM under the old rules to earn more after the changes. Those posts that would have made less than 20 STEEM under the old rules will receive less after the changes.
Hmm? So successful people are really going to 'clean up' in the rewards stakes when it comes to Steem. Strikes me, the gulf between Minnows and Dolphins, let alone Whales, is going to get wider and wider! No wonder certain accusations are aimed at steem by the Internet community.
Reward Split
Reward funding is being changed from the 75/25 split that currently exists to a 50/50 split between author and curator. That means you will be rewarded significantly more for curating content after the fork.
And this seems designed to enable top earners to earn even more by encouraging more people to distribute their work with the lure of earning a few cents. The thing is, very few Minnows get their work Resteemed (Distributed) as it is and I take the view that EXPOSURE helps Minnows far more than upvotes. The more peoples nose your work gets under the more likely you are to get voted for, it's not rocket science.
Given I've read a lot lately from hard working steemians asking how they can encourage more people to join and get things moving again seeing as Steem has stagnated since the Bitcoin Bubble burst I'm not sure I see much here for Minnows to smile about. Sorry, but that's how I feel. Not that what a Minnow feels anyone cares about anyway.
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"Be who you are and say what you feel because those who mind don't matter and those who matter don't mind."
I agree with you. That statement about the rewards changing is probably one of the scariest things I have read in quite some time. I don't know many people on here that make more than 20 STEEM per post unless they are buying votes. There are going to be a lot of us that are screwed...
Which could be the life line of the bidbots! They will be needed and will earn more after HF21.
They will just change their upvote behaviour. I do mean higher upvotes for the same amount of Steem you are buying votes for. They profit because they will probably the biggest curator and the ones using the bidbots will have a pay-out above the linear threshold!
Very true! Right now I think it is easy to see a lot more downsides to this than upsides. Hopefully we will all end up being wrong.
And yet, [insert insult of choice] are posting joyus comments and resteems all over steem! #facepalm
Don't forget, you can upvote peoples comments too!
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EXACTLY. (Deliberately in uppercase)
Don't forget, you can upvote peoples comments too!
Posted using Partiko Android
There are many ways to look at this, but essentially it's a stake based system. if you bought a single share in BT would you expect a large dividend every six months?
Compared to how much I have invested in fiat to buy STEEM you are actually doing much better than me per post.
Everywhere else gives you a big nothing for your efforts, but you do get something here, if you can produce content.
Probably not what you want to hear, but like everywhere else.. investing some money helps a great deal and shows commitment.
And that's the issue right there. I have never used fiat to buy steem and never will. That's exactly what they want you to do and the reason why Steemit is accused of being a Ponzi scheme. "Hmm? I'm not earning much, I know, I'll buy some steem because clearly, I can't earn it like I was promised when I joined." KerChing!
I don't agree, if it's a Ponzi scheme.. A) It would be closed down now.. just like BitConnect, B) I would be making referral cash from others, I'm not.
Ponzi's are really not looked at fondly especially in the US, just look at past history. They get closed down, decentralised or otherwise.
Oh, I wouldn't be silly enough to accuse Steem of being a Ponzi scheme myself but let's look at it from an outsiders point of view. You have a very small group of individuals who hold a vast amount of steem which thus generates a very large reward for them based on the activity of those down the food chain. The HF21 fork clearly states that those in a certain bracket will earn substantially more off the back of all the upvotes from those who are not in that bracket and are likely to never achieve that level given that it has been designed to pay them even less now. But they are encouraged to stay with the platform by being assured that if they vote regular it will somehow benefit them in the long run. I'm not quite sure how that works? The only ones I see benefiting are those higher up the food chain. And then there are people like yourself who invest their own fiat in an attempt to enhance their accounts because the long slog of trying to build up your reputation ect. doesn't really work not unless your willing to wait something like 10 years to get 5 points.
I don't know all the technical in's and out's of Steem(it) but from what I've observed its Actvity that makes it work a bit like Bitcoin mining I liken it to shaking the bush as long as users keep shaking the bush the whales seem to be doing very well thank you very much. LOL
Well that's good because I have already lost cash in BitConnect, my lovely introduction to crypto.
Most of these are $0.00 votes... have a look and see.
Just how am I supposed to retire with all these $0.00's?
That's easy... they get substantially more now... 25% - 45%. Do you know curation yields you around 5-6% APR. Thats before HF21, it will be around 8-9% now. Show me a stock that yields that kind of rate.
That's unless STEEM goes down even more, but Marks and Spencers shares haven't done too well either.
Yes it's a gamble, but well worth it I think.
Curation is now well worth it. Think about that figure I mentioned.
Oh god yeah. Curation ergo resteems are clearly the way forward which is funny because I was begging for people to do that last year. LOL
Did you intentionally vote for this nonsense? https://steemit.com/c/@bigdeej/c
His stuff is likely to be cancelled out by the various big accounts that are cleaning up abuse these days. Shame they did not doing it earlier, but better late than never.
I really don't know how it's gong to affect what I earn, but I'm not too bothered about making less. We need people to use their votes to restore some balance. Bid bots will be less profitable and we have the free downvotes to adjust rewards without losing voting power. Let's use the tools we are given to get rewards where they are deserved.
There is no totally fair system. Not sure it's much different to your beloved capitalism that tends to shit on the little guys :)
But the whole point is, people will use their limited funds to curate high earners bilge in the hope that the high earner will drop a big vote on them which rarely happens, however, for the high earners this is what's known as the snowball effect, as they roll along they get fatter and fatter from all the tiny snowflakes they collect. I would have thought with your socialist leanings you would be spitting feathers at the capitalist (Tory) proposals within these changes?
Votes on Steem(it) are a bit of a myth tbh. I did a post that had 1162 votes, let's just let that sink in, ONE THOUSAND ONE HUNDRED AND SIXTY-TWO! and yet it only earned $11.65 disgusting if you ask me on a platform that claims to be better than Wordpress, Facebook etc. by rewarding authors for their work. What do I have to do? Get 500,000 votes? When 1162 votes does not even put me in this illustrious $20 plus bracket and if the past 2 years are anything to go by, I'll never be in the $20 plus bracket and now that they intend to penalise low earners such as myself I'll earn even less for spending two, three or four hours on Steemit.
I know you love the platform, mate, I know you work extremely hard both on your own content and in supporting other members but this hardfork is wrong imo, it will only benefit the high earners most of whom are already raking it in from Youtube and Instagram and yet want to squeeze the last few dollars feeding out of low earners.
If you want some changes to Steem we should be discouraging people from upvoting anyone on the End-Scale of Dolphin and above. We should be telling Minnows to only vote for other Minnows and Low-End Dolphins. People with multiple accounts should be blocked or a way found to blow away any upvotes they get. People offering games, quizzes or Upvote services need to be scrutinised and where required forced out because these people are taking valuable dollars from users. Bots probably should be banned but then there are one or two good bots I suppose?