double standard #1

etherpunk (75) in icanteven • 6 years ago (edited)

"steem ain't just about content and curation anymore" - still fights spam somehow by way of delegation, but allows spam by certain projects and investors (even spam fighters themselves) because it's a method to fund their stuff. funnily, downvoting spam under the current economic incentives just gives more rewards to other spammers. #fixit https://steemit.com/steem/@kevinwong/understanding-steem-s-economic-flaw-its-effects-on-the-network-and-how-to-fix-it

icanteven fixit

6 years ago by etherpunk (75)

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schattenjaeger (71) · 6 years ago

"steem ain't just about content and curation anymore"

And how’s that working out? :D

Everything was better when STEEM was focusing on the original idea: content and curation.

What else interesting has there ever been?

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3 votes

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kevinwong (76) · 6 years ago

Now it’s like the most sorry use of the rewards pool lol. Agreed that Steem’s killer app is just plain content and curation. Was n^2 and 50cr really that bad back then? I didn’t remember things being broken like it is now for sure

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smooth (70) · 6 years ago (edited)

50% curation rewards was removed (changed to 25% less reverse auction, so more like 15% in practice) fairly early on and there wasn't a lot of experience with n^2+50%. The year or so with n^2 had ~~25%~~15% curation for most of it. The predictable result of that was lackluster (and declining over time) interest in curation and more interest in self voting by whales (and synthetic whales created via delegation, vote bots, trails, etc.), paid votes from whales, sock puppet accounts, and games/schemes to concentrate author rewards and then redistribute them. It mostly became a game of grabbing the author rewards, with curation as an afterthought relatively quickly.

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1 vote

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kevinwong (76) · 6 years ago

Yeah CR is just too low for any appeal on accumulating SP. Kinda doubt anyone's going to get into SP just for the resource/bandwidth stuff until much later. Had a chat with a dev recently, seems like n^1.3 and downvote pool is in support, but would need more convincing on why more curation reward is required instead :/

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smooth (70) · 6 years ago (edited)

I don't agree that curation rewards are required "instead". I've been very doubtful on anything not involving downvotes as as a core focus (routinely embraced and used as a opinion-expressing vehicle and not just for "abuse"), or a complete profound redesign, ever working and even with downvotes I'm still not convinced it will work. I don't see a strong argument (that doesn't involve a great deal of wishful thinking) that voting to distribute inflation ends up with anything other than distributing according to stake or distributing superlinear with stake (which tends to push anyone but the largest toward the exit)

That said I do agree that the 4x (in fact higher) is a problem that will probably contribute to failure unless addressed and I've been saying that ever since 25% was put in place (over my objections).

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1 vote

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therealwolf (75) · 6 years ago

Had a chat with a dev recently

Which dev?

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reversed-bidbot (51) · 6 years ago

You got a free upvote from @reversed-bidbot! Follow me to earn steem by interacting with my promoted posts.

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