Off the top of my head, I was easily able to come up with 5 frontends for Steem and list them as my tags for this post. What's my point? My point is that it doesn't take a rocket scientist to see that the incentives here are unsustainable.
I'm writing this post using the Busy frontend/tag because they are going to give me an upvote worth like 70 cents. I'm using the Palnet tag because I have to in order to receive PAL rewards. The other three are just there to make a point, but how long until three other frontends pop up that also incentivize the use of their platform with an app/tag?
This topic is especially relevant in the context of PALNet.io
Palnet currently only shows posts that are tagged with 'palnet'. It also only rewards coins to posts with the palnet tag. It is an extremely quarantined system at the moment.
Palnet is currently running in tandem with Steemit. Upvote a post using your Steem Power and it will create both Steem inflation and PAL inflation in the same operation. This is a slight problem, because it's a lot easier to spend Steem voting power than it is to spend PALNet voting power.
This leaves accounts like mine in an awkward situation. Say I upvote half Palnet tagged posts and half not. Say I cast 10 votes. Now my Steem voting power is at 80% and my Palnet voting power is at 90%. After 12 hours my Steem voting power will be 90% and my Palnet power will be 100%.
As one can see, it's impossible to regenerate my Steem Power without allowing my Palnet power to sit at 100%.
This puts me in the awkward situation of powering down my Palnet stake and transferring it to another account (@edict3d). This way I'll have full control over my Palnet voting power.
Conclusion
PALNet has only been out for a week and none of this matters because the platform is highly experimental and will likely transition through monumental changes over its lifespan.
OR you could stop worrying about 'managing' your Steem VP to keep it above a certain level.
Having low VP decreases the maximum upvote per post that you can give, but it has no impact on the total upvote value that you can deliver over a five day period.
10 votes per day * 5 days * 2% per upvote = 100% VP
20 votes per day * 5 days * 1% per upvote = 100% VP
A 100% upvote at 50% VP delivers 1% of your total VP.
Twice as many votes, half as big each one. The need to 'manage' your voting power to keep it above some target percentage is a myth. The only reason to do so is if you target a size that never goes to dust.
If these alternative tokens become the real value outlets in terms of curation, the ideal solution would be to keep enough SP to cover your RC requirements and divest the rest into various tokens. Then you never have to worry about your regular upvote values at all!
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This is 100% incorrect.
Everyone can cast ten 100% votes every day because you get 20% regen a day.
No, you don't get twice as many votes.
Regen is a constant 20% per day no matter what.
A 100% upvote takes away 2% of your power no matter what.
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You're joking, right?
A 100% upvote takes away 2% of your voting power at time of upvote. So if you give a 100% upvote at 100% VP, it takes away 2%. If you give a 100% upvote at 90% VP, it takes away 1.8%. If you give a 100% upvote at 80% VP, it takes away 1.6%
Etc.
Open Steemworld or Steemd side-by-side with Steemit and go vote something. Refresh to see the impact. Try it again. You will see how it really works if you conduct your own experiments and collect data.
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I was testing it and replied a minute too late. Thanks for this info. Hard to believe I've been mislead for over a year on something so simple and pivotal to the platform.
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Never mind! You win! I just tested it. Has it always been like that? Mind blown.
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Keeping VP at 90% is something of a religion on Steem, so I can't even tell you how many times I've had this same conversation. I don't know about always; I've only been on Steem for 18 months, but if I recall correctly the math works the same way (with slightly different parameters in terms of total delivered on each vote) in the original white paper.
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While I have you here do you know what the exact Dust cutoff is? Is it less than 2 cents? Less than 2 cents after being rounded? (1.5 cents?)
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There are two. First there is a 50M rshares 'tax' on every single vote. If a vote is below 50M rshares, it still shows but it has no impact on rewards, curation, etc.
The second is at post-payout, and it's $0.02 STU. But since voting cuts off twelve hours before payout and crypto is so volatile (even when you're using 3.5 day moving average reference prices) it's better to think of it as $0.022 or $0.024 and not miss.
Edit: rounding is evil. I have my settings in steemworld at 4 decimal precision to keep rounding error to a minimum.
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these 5 tags restrictions are only implemented by frontends. I don't think blockchain actually has any such restriction.
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That's true. While playing around with dsteem API I definitely created a few posts that had like 20 tags just to see if I could.
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I'm really appreciating your commitment to scientific inquiry right now :)
#sbi-skip
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There will be a way to vote with different weights on Steem and on PalNet. When that will be possible, you will be able to vote on PalNet with 100% weight, for example, and on Steem with 50% weight, so drawing twice as fast VP on PalNet than on Steem. But the implementation details are still being discussed, from from I've read.
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Don’t forget esteem and ulogs they’ve been around for quite some time
Posted using Partiko iOS
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there will be possibility to delegate pal, maybe in 2-3 weeks :) Powering down takes 4 weeks
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Are you sure that’s how it works? Where can you check on your PALnet voting power?
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I asked in Discord during an MSP Waves broadcast and that's what they told me.
Didn't fact check it :D
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https://economicstudio.github.io/vp/?a=gerber&t=PAL
just edit link
or any discord server with banjo, command $power gerber pal
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Cool. Thanks.
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@holger80 made a tool. I am on phone and no bookmark.
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