RE: Whales - Can the community buy out a portion of your influence?
I have skimmed through the comments and did not see anyone mention delegated Steem Power. (Apologies is I missed it)
As a whale I want to see the value my stake increase. There are a few ways I can go about doing that. I can create content, I can vote and get paid curation rewards, I can play the market, or I can help increase the value of the platform as a whole and my stake will increase in value. I have opted for the last option and am letting Steem Guild and Curie use all of my Steem Power to help out new and growing authors. Yes, I get paid some curation rewards but the strategy is far from optimal if I were to maximize my return. There are many other whales doing the same thing which means that there is a lot of Steem Power behind the idea of suboptimal initial returns as a form of investment in the community. This is key!
Delegated Steem Power will allows whales to maintain ownership of their stake while transferring the privileges of holding Steem Power (and the earning potential it entails) to other accounts, particularly minnows. I am confident that the community will run with this feature and that whales will be more than willing to delegate their Steem Power for the betterment of the community.
Delegating voting power in the way it is done today is considered by many to be a bandaid more than an actual solution. It is also risky for the whales to be sharing their private voting keys with others.
The blockchain level delegation of SP that is being worked on does not allow the original owner of the SP to collect any of the curation rewards from the SP that they delegated. It essentially acts as if the receiver has the SP for themselves.
That is correct. We have stated many times that propagating curation reward back to the delegator is too expensive computationally.
How will you decide, you (the dev whales) will give out your SP weight to whom / how much each?
If you delegate your SP to only a few people, it's not much different to current situation: Curie and the Guild is using your SP already. With SP delegation you'll only address the bot front-running issue happening on the Guild, but even Curie does not suffer from that. A side benefit is that Guild members don't need to vote for their contents with your accounts (but still with your SP).
If you delegate your SP to a lot of people, it means that everyone will get only a small part of influence, and likely those SP won't be voting as concentrate as it's doing now, that's a big disadvantage in influence in comparison to the whales who are voting independently. That said, you giving up your influence/reward doesn't mean other whales will. A few whales giving up their influence by divesting / SP delegation or simply not voting only means other whales will have much more influence. When money is involved, most people tend to earn more money rather than give out more money.
Perhaps it's time to revisit the
N*Nweighted reward distribution algorithm again.@timcliff @val-a @clayop @transisto @snowflake @ats-david @jesta @smooth