Sore Winner?

traf (81) in funny • 7 years ago

When all the other cryptos are in the red but Steem is doing great

gif from giphy

7 years ago by traf (81)

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jasonshick (65) · 7 years ago

It's great to see. The huobi listing is definitely the catalyst for this spike or are there other exchanges listing as well?

Was reading your response to @kevinwong's post about linear rewards, you talked about changing the incentives to super linear. Do you use steemit chat or discord, wuoldn't miind picking your brain on a few things that are fuzzy

$3.24

3 votes

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trafalgar (87) · 7 years ago (edited)

I think I made 2 large replies to that post, if you read them both, there's probably nothing much else to share

Basically right now we're rewarding effortless behavior that provides no value (and some harm in the form of defeating the content discovery feature) to the platform the most.

We need to reward behavior that's good for the platform, like great curation, the most. If great curation made as much if not more than vote selling and self voting, we'd have a much better system.

Fighting individual profit maximization is the wrong fight to have, and one we can't win. Change the economics to reward better actions. You don't try to stop people from wanting high returns, you align them with better actions.

It's harder to do in practice even if you diagnose the problem correctly. But I think it can be done.

I'll say 1 thing about super linear - it forces all profitable voting behavior into high paying posts. So you can't just split your holdings into 300 different accounts and self vote spammed bot comments to avoid attention (which some do currently), as doing so won't get you much money. Even very slight superlinear is sufficient for this (n^1.2 maybe). We use to have n^2 which was way too much.

My proposal would be n^1.2 rewards curve, 50% curation, linear curation curve (currently it's square root), slightly increased downvote incentives (either separate pool or downvote curations)

And it should be a higher priority than what Steemit Inc has it as. I don't think this will be fixed with Communities, and SMTs are pretty far away.

You can reply to my next post if you still got questions, reply here and I'll miss it

But do your own research first, I can't explain how these curves work to every person who asks

$0.03

2 votes

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theguruasia (67) · 7 years ago (edited)

@traf,
Dude you said "Moon Time" yesterday and STEEM dropped :D

But now everything seems great! STEEM is showing it's true power with the new exchanges.
Most important thing is, TRAFFY YOU MADE 2 MILLION USD IN A SINGLE NIGHT
Congratz Traffy, this is just a beginning and it also learn me a lesson!
"Keep Faith On STEEM - Best Example - @traf / @trafalgar"

Cheers~

$2.01

6 votes

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jasonshick (65) · 7 years ago

You are like the first comment I see on every @traf post. Are you just waiting beside your computer refreshing every 10 mintes waiting for the next gif?

$0.00