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RE: The account-based voting revolution

in #steem6 years ago (edited)

One suggestion that they should be doing, is coming up with an internal condenser that no one outside of Steemit sees... that uses the new algorithms to see how the new voting system would change the vote rewards over a period of time, and have reports ready to show that data when the time comes.

(During the alpha roll out of analyzing the effectiveness, so they can tweak things)

Sort of "snapshot the chain for a week" so we could go to a website like this after we move that algorithm to BETA for public review:

http://votingsnapshot.steemit.com and everyone can then view steemit for an entire week frozen in time with the only content available during the 7 day payout period of that snapshot.

They could also include data from the current chain rewards next to what the algorithm payouts would have been under the proposed system.

So you'd see someone with $1.42 payout (old) and $8.25 payout (new)

Conversely, you'd see someone with a $242.95 payout (old) and a $80.52 payout (new)

Of course though, when you change the tide this way, you should expect the tide to cause a huge reorg of value on the chain.

For example..

Make no mistake, the massive whales would simply start transferring wealth to their individual user botnets, and adapt to the new system within a week.

I'm quite nervous how this would play out. The one caveat we have is there are smart people working in development, and every issue we can think of has probably already been talked about and addressed in their meetings.

So I suppose we have no choice but to just wait and see this play out.

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