While I think the intentions behind the idea of moving from 75/25 to 50/50 are good, I think there are some major issues doing this creates. The first is that authors deserve the majority of vote rewards. They, by far, put more effort into making quality content than do voters curating content. It's difficult, time consuming, and laborious to make a truly great post on Steem. It's very easy to vote on a post. This leads into the second issue, vote riding. Moving to this system could lead to people only upvoting posts with a large number of votes already, whether the content is truly that good or not, for fear they will get punished for voting on a less popular post. In theory, this exists right now as well, but I don't think it's as bad as it would be in a 50/50 system.
Overall though, my biggest issue with this suggested change is that authors deserve the majority of rewards, not curators. This doesn't mean curators can't be rewarded, though. Maybe a 60/40 system could be implemented to still give the authors more of the reward, while still increasing the reward for voters?
60/40 was my proposal, to first test such economic changes in a prudent manner.
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hello @thecryptodrive. Sorry to bother here but do you have discord? I would like to ask you about our minnowbooster delegation and the chances of working out a weekly delegation on top of the monthly one.
Thank you
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Join https://discord.buildteam.io and you will find me there.
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I disagree. Contributors put in the time for the post (less/more depending on the contribution), but stakeholders actually put in the money. If Steem would go to shit, you could laugh about it and say "Ah, finally I can buy cheap Steem". I, on the other hand, would have lost a 6 figure value.
If it were actually about the work from curators and authors, I would agree. But curators are generally also stakeholders.
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What came first, the chicken or the egg? Curators, who are also stakeholders, might bring in the money, but it is the authors who generate content for the platform, and therefore generate value. Choosing to reduce their incentive to produce content could see content producers leave, or reduce the quantity or quality of content they make. With out authors to generate content, and therefore value, you'd find it hard to generate value through curation when content is harder to come by to begin with.
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Exactly.
Content creators are more valuable. Curators can be replaced with automated software. Content creators have access to limitless content. Stake holders does not have access to limitless Tokens.
Anything 50/50 is packaged up communism that sounds good on paper. How many Socialist/Communist states are currently winning? It never works in reality. Nobody is talking to the real content creators so they have no clue what it takes to be one. Also no real stake holder has made any real arguments to what @lordbutterfly has said. Why 50/50 will fail. Because it will.
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If you replace curators with automatic software who will buy STEEM? The price of STEEM will drop to zero and nobody will earn anything. STEEM needs both creators and investors (curators), therefore 50/50 is fair.
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Curators are barely humans. Much curation is on auto. Soon AI Robots and Machine/Deep Learning will take over that. The algo on YouTube is already doing this.
Humans or Robots will buy Steem. Or anyone else that is interested. Hell I buy up all cheap Steem. I want more. It's the good stuff and the future. STEEM can't drop to Zero since I will buy all cheap STEEM. Same as Bitcoin can't drop to 0. I will buy. I'm not the only one that would buy cheap and sell high.
50/50 is not fair. Who did most work? The content creator. So you want to leech from them. That would be an unfair deal.
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agree with you both
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Agreed. I easily put 10+ hours into many of my posts. I am not a dancing monkey and find the idea that someone benefiting from my research deserves the same payout. I will probably go back to self publishing and vote for my few favorite authors occasionally.
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I see your point of view as well. I am leaning toward the 50/50, but what you are saying makes sense. I just don't know what the solution is.
I spend hours taking photos and writing posts, but honestly I only make 4 or 5 dollars from them. At the end of the week, I am making about the same amount of money in both curation and author rewards.
I guess on the upside I am just powering it all up anyway, but it would be nice to earn a bit more for my efforts. Of course, one should always improve their skills before expecting too much.
I just wish that something could be done to thwart the shit posting whales who hog the reward pool. It makes the whole project seem scammy.
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The solution is Trust and Relationships slow grind build up and look at what you can leverage for gaining massive long term value.
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The slow grind is all that you can do unless you feel like dumping 100 grand into the platform (Which I could do, but I won't until some of the finer points are worked out). So the only questions left after that are, what can be done to improve the system overall so that it is not so easy to game.
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One big thing will be real Niches + Communities + Moderators. Narrative is trying to make this into a reality. This makes it into a more professional system. Like a digital job. People focus on specific areas and provides massive value in that niche. The roles are more clear. Look at Narrative's white paper:
https://www.narrative.org/assets/documents/narrative-network.pdf
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Interesting, I will check it out.
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