@Biasnarrative brother ... Give such huge power to limited number of people as proposed in idea #1 and you'll bring in dirty political system into Steemit too. We have been electing representatives for decades in centralized systems... Where did it get us? Steemit will be a political warzone.
And putting a CAP on rewards further hurts the content creators because it's already doing a lot of damage due to it's 7 day payout. If you post your content in blog or if you post your videos on Youtube instead of Dtube and Steemit, you'll generate revenue as long as the content is on the internet through advertising. If you calculate the rewards based on a long timeframe then posting out of Steemit will be actually be much more beneficial. The only thing that's attracting content creators in Steemit is the large one time payout that they get here... And since we have a tendency to acquire instant gratification, we keep providing quality content to Steemit. Put a cap in that one time reward and no serious content creator will consider this platform a good idea to post their content! The problem is not the excessive rewards going to the content creators... The problem is the excessive rewards going to shit-posters!
I believe quality content should be valued appropriately. 90% of the Steemit posts are spam and shit.
I wouldn't mind if 1 user takes away 10% of the rewards if he/she's the one providing the 10% quality content.
Couldn't agree with you more.
And maybe you're the last person I'll bother upvoting. ;) I've spent hours writing long comments (that I hope are thought-provoking yet few people probably read). The system is flawed so the system will be abused. If you can't beat them, join them? As the saying goes...
@zool237 Actually the Steemit incentive system is much better than the centralized economic system of the real world. Don't believe me? Check @andrarchy 's videos about steemit and steemit economic system ! He's a great economist who explains complicated topics in an easy simplified manner...
The economic system we use in our daily life is even more flawed and more heavily abused... but since those economic activities aren't transparent, you never know about it. Here you know about the abuse because everything is recorded in an open ledger. Not many abusers (except a few backed up by whales) have a long life here due to the open blockchain. We have a strong community support here and most of the system abuse is countered by the community members!
I agree with you partially @creatovert. You make very interesting points with the 7 day payout window.
I don't believe it will hinder people though. The hard cap as being a percentage of the reward pool. I don't see a valid reason for one person to make such an extreme amount of the rewards in the future when more and more people use the platform, hopefully flattening the overall average percentage some people get.
Any content creater that thinks they deserve 1% of the weekly pool which I believe is quite a large number for payouts. Possibly over 500k? $8 a piece for 5k Steem... $40k. In a week. That seems excessive to demand to keep getting that much.
(I have no idea if the above numbers are even close to being accurate. I know that the reward pool is at ~700k Steem. I just don't know how much is paid out and then added back into it each week.)
While I know that some YouTubers probably make close to that, their % of overall payouts I doubt is close to 1% of all the payouts from YouTube to it's content creaters.
What do you think? Still not an okay idea? I don't think it's the answer. Just trying to work through possibilities.
Thanks for your thoughts @creatovert.
I agree with you totally in my own personal point of view... 1% share is quite a big slice!
And I know you're referring to Haejin.
His content seems to be low-effort posts to me too and it's clear that he's maximizing his rewards by posting countless times a day... with each post accounting for more than 300$
But I have never seen anyone other than him getting that much rewards.
Not even 0.5% .
I saw a guy here a week ago who had created a fictional story of Elon Musk I think... it had a pending payout of 1100$ . I did a quick glance of the post and it was a quite long, well formatted and nicely written blog post. He had put a lot of effort on it and I would say he deserved it...
If he were to post 1 post each day, each accumulating an average of about 1500$, who are we to put a cap on his rewards?
I make very little on my posts so I too feel uneasy when a single user takes a large share of rewards but I think if the content creators haven't abused the system in any way, then they deserve all the value their content receives from the community! Afterall it's the community itself who tipped the content.
I attended a meeting today in Mspwaves radio and witnesses were having a discussion about the same thing. Maybe they would have loved this idea.
But I'm more of a freedom lover you know. I think decentralized platforms will lose their value if we add strict rules like the centralized systems.