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RE: Improving the Economics of Steem: A Community Proposal

in #steem • 6 years ago

Question To Steemit Inc

  1. When can investors expect the fundamentally flawed linear reward to be changed?
  2. How many hours does it take to code a new curve?
  3. Should current investors solely vote for themselves to avoid scammers to receive "free money for nothing" aka free Steem?
  4. What are the benefits, if any, for investors to not solely vote for themselves?
  5. The rational investors are increasing their piece of the pie with negligible work. Are there any estimates?
  6. Who are the biggest rational investors what is their ROI?
  7. Why did Steemit Inc implement the flawed linear reward curve?
  8. Where did Steemit explain why linear rewards weren't flawed anymore before implementing them?
  9. Why mention @trafalgar as the initiator of this discussion while knowing this is incorrect? - Many people pointed out linear rewards were flawed, way before @trafalgar did, among them, none other than @dantheman in the original whitepaper, @steemitblog, @felixxx, @ats-david, me, among many others.

In February 2017 Steemit Inc re-highlighted why linear rewards are fundamentally flawed, yet they never retracted their statement before pushing for linear rewards to be implemented.

In a world with honest people who don't vote on themselves to get "free money for nothing", a simple linear curve, aka n would produce a 1 share 1 vote proportional payout. This is the blue line and shows the ideal situation.

Unfortunately, we live in a world where people will attempt to game the system by voting for themselves. If everyone voted for themselves then the result would be simple interest payments and have no economic impact.

More here.

6 years ago in #steem by
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     6 years ago (edited)

    No need to ask Steemit, stop worshiping them.

    1. Linear curve is not flawed
    2. Very fast but what curve you want?
    3. You'll get to downvote for free very soon, so if you upvote yourself in excess on stupid content you'l most likely get downvoted.
    4. Can shower yourself in virtue signaling.
    5. Estimates on what? Your bogus claim?
    6. Calculate that yourself if you think it's relevant.
    7. It's not flawed and it was approved by witness voted by all stakeholders.
    8. "Where did explain why it weren't flawed anymore before" WTF?
    9. Because it's his only contribution to Steem this last year beside self-voting with his huge stake.

    Read the downvote section again. I like to think it's mostly my suggestion and I'm not bragging about it because it's so obviously the solution to people buying votes on half baked comments like this one.

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    [-]
     6 years ago (edited)
    3. Think that is a bad thing. Using your stake to upvote your own comments on your own posts allows you to be an ass without disrupting the content economy, but doing so will get you flagged. Running a bid bot that upvotes crap posts will allow you to be an even worse ass because for you it is just like self voting as effectively all the money flows back to you with current ROI at about 100% for bot users, but while doing so, you will be disrupting both the trending pages and the reputation system. Measures that drive stake holders from being an ass in their own little content bubble towards being an ass in a way that disrupts core features of the platform isn't improvement IMHO.

    Have a look at this poll, seems by the votes to far, I think all these options need to truly be carefully considered before implementing measures that make passive stake holders move to even more disruptive use of their stake.

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    [-]
     6 years ago (edited)

    What are you alluding to? My comment is super critical of Steemit.

    No need to ask Steemit, stop worshiping them.

    2. How fast? Where did you get that information?
    4. That's like poetry but I don't get what you mean.
    5. Estimate on the piece of the pie control by those who upvote themselves the most and at which rate this is increasing?
    6. I've made estimate in the past. My question was mostly rhetorical.
    7. We do agree that it was voted by at least 15 witnesses.
    8. Where did Steemit explain why linear rewards weren't flawed anymore, before implementing them?
      Steemit Inc said linear rewards were flawed. They then supported linear rewards while never explaining why they weren't flawed, "anymore".
    [-]
     6 years ago 

    What's your goal to shame steemit retroactively?

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    [-]
     6 years ago 

    I've been talking against linear reward since at least november 2017. I want a change as soon as possible to something nit fundamentally flawed.

    [-]
     6 years ago 

    @teamsteem purchased a 29.66% vote from @promobot on this post.

    *If you disagree with the reward or content of this post you can purchase a reversal of this vote by using our curation interface http://promovotes.com

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       6 years ago 

      This post has received a 40.29 % upvote from @boomerang.

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         6 years ago 

        Linear is flawed, sure, the proposed curve type though even more so. It sends a signal to new users: "please piss off, you are too late, we are full!"

        I'dd propose just adding a simple and modest fish-size bonus. Irrelevant for new users, but sufficient an incentive for big fish not to break up their stake into hundreds of puppet accounts.

        The blue line instead of the red line

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          [-]
           6 years ago 

          Can someone help? i started several accounts a few years back. I have been able to access them all recently but one...I am using the same master key and I am not able to get in....all of my other accounts are fine. I copy and paste the master keys no problem...I have never changed or attempted to change any passwords. My husband and daughter have both tried to no avail. the account I can not access is @jadabug...could it have been compromised. no steem is missing ...i just can not get in ...it is strange ..I set up the accounts and would like to give it to my daughter to run and i can not get in .augh! I have all of the keys they just do not work!!!! Thank you for your time.

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             5 years ago 

            I'm guessing: you are using Master Password to access https://steemit.com site, but it's no longer possible after wallet/social features split. For social part you should use your Posting Key. If you haven't written down separate keys go to https://steemitwallet.com site log in with your Master Password and get your Posting Key to be used on https://steemit.com.

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               5 years ago 

              sadly none of them work. Thank you for responding. Just know that @ jadabug is stolen and running a bot scam of voting every few seconds...Happy day! Melissa