RE: Shaved Whale Balls and MEGA CIRCLE JERKS- The economics of HF 19; a witness update.
This is not an economic analysis. It's just fear, uncertainty, and doubt. I appreciate the concern, but that is the extent of the analysis here.
The number of rshares cast on a daily basis after HF19 goes live will be higher. But the reward pool will be the same. The concern is that the rshares will be concentrated. But there's no basis to support this assumption.
The number of rshares cast by a single account will still be regulated by the off-chain influence cap like it is now (by the whale truce). The only way to cast more rshares will be to spread votes over more posts (just like now).
The net effect is more posts will get more votes. And since the daily reward pool will remain unchanged, this will just pull down rewards from the higher earners and spread it out to the lower earners.
I hope you are correct in that there will be more of a distribution of the total rewards pool across the whole of Steemit and not more concentration of a small percentage.
I tend to agree. I'm pretty sure HF19 will bring more equality.
The main focus should be to make the platform seem more lucrative for new users in order to adopt more members. So the focus of the whales should be to increase the wealth distribution down, in order to have higher volume coming in.
This means less paid for votes at the top, but more votes.
The problem would be how to justify this, as this basically would mean whales would have to redistribute a small allocation of their gold mine. Why would they do that? For the community to grow? Things are sweet as they are.
But this is needed for the community to grow. Not many people would take the hassle to join on upvote-bot program in order to earn 1 buck per post. Its only computer dudes like you and me, who already joined this betaversion.
There need to be a just balance or we'll all end up losing.
I believe you are correct in some perspective.