Here I introduce the idea of a second currency or power called wisdom. This attribute acts kind of behind the scenes and loosely represents popularity, merit or wisdom.
Wisdom comes from upvotes and by investing in good content or authors. Everyone starts at 0 and it uses this algorithm: Log( their voting power ) + wisdom fragment. Wisdom is like an ethereal power that spreads to and from those around you, but cannot be bought, traded or given away. Having this wisdom attribute partially removes credibility from buying power.
Perhaps websites and users could control how wisdom matters or how it is displayed. A post may show: $ 1030 ß 20 , or one could list content by wisdom. Symbol ß is the sharp S and could possibly be the symbol for wisdom.
I’m simply presenting an idea, and here is my brainstorming. But I’ll let the engineers make all decisions, and how to implement.
Lightweight Independent Feature
The code may actually do very little work except keep a wisdom number for accounts. It should be very simple and lightweight, having minimal calculations, with 100 blocks to do them early. This probably could be done off-chain if desired, or by steemit.com or other site.
Technical
If R is a recipient's wisdom, then ΔR from a vote is
log(VP) + ß per VP
Example 1: if someone votes you up and you earn $100, then if they have 1 wisdom per $100, your earn 1 wisdom.
More wisdom is rewarded over time from previous good voting. At every block the code looks back 5 days, 25 days, 125 days and rewards smart or wise decisions. This means by voting, one is investing in an author, their content, and in their future voting. This supports the principle of investing in people.
When voting, a portion of the voted wisdom is destroyed and becomes kind of like an investment in the author and his/her post. Sacrificed wisdom can be re-earned based on subsequent success.
S1: time to your vote, how much total wisdom voted so far to author
S2: equal time afterwards,sum of wisdom or ß given to author
yS: how much of your ß is destroyed => 50% of that given
eS1, eS2, eS3 is how much ß you earn from a vote
5 days
eS1 = .25 * yS * (S2 / S1)
25 days
eS1 = .25 * yS * (whatever they earned last 25 days / previous 30 days)
125 days
eS1 = .5 * yS * (earned last 125 days / previous 150 days)
Example 2:
you vote someone up 4 wisdom (first), in the next few seconds they're voted up 8, but then none after
you lose 2 wisdom
in 5 days
you earn .25 * 2 * (8 / 4) = 1 wisdom
in 25 days (if they've doubled in popularity/wisdom)
you earn .25 * 2 * 2 = 1 wisdom
in 125 days (if they've quadrupled in popularity/wisdom since before then)
you earn .5 * 2 * 4 = 4 wisdom
You triple your wisdom from the vote, in 125 days
Down-votes are ignored and one cannot change vote after end of block. Wisdom is always kept in whole numbers, rounding down when given. That means if you don’t have much wisdom you cannot give or lose any.
Upvoted you
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I like this idea as I was thinking that some other attribute needed to be created. I was thinking that karma would be it as the most powerful thing one can do in this system is give support (intellectual, empathic, encouragement) which leads to solid bonds. We are still motivated by basic urges and those are things that are mostly absent from a mechanized world. We already have our machine interactions in a high level, what were missing is the element of being valued and acknowledged....these are side-effects of self-love which is in short supply. When I use the word "love" I'm not talking about romantic love. This kind is what enables babies to exist and survive. It's the stuff that has the ability to change the course of humanity because it spread virally.
Most people exist on a spectrum of unmet needs.
Most don't have the basics: clean water, money, security. Fewer have meaningful work. Fewer still are being valued for their unique gifts. Fewer still are loved by supportive and encouraging lovers, spouses, etc.
Being trapped in one of those stages causes people to act in selfish ways. The bucket inside is empty and needs filling.
Rich people who have basic needs met and who have an abundance of resources could also be of two kinds: one is fearful and clings desperately to the wealth, always obsessed with making more, or can be a second one whose wealth is a by-product of some kind of effort/skill/talent/luck/drive/connections. The second kind is not attached to the wealth.
I like your idea and think it's worth looking into. The only thing I think people will not like is the fact that some wisdom is lost. I don't think people like that concept.
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don't think of it as lost, but as invested . The purpose of this is to discourage various attacks, creating cash-flow issues for those using revolving self-voting.
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a few thoughts...
there is an over emphasis on investing on an author. That is because rewards after 5 days can be reused again and again cashflow-wise, while author rewards take much longer to return.
investing/losing 50% of each vote amount has an interesting effect on the ongoing wisdom value of your votes. (remember to round down)
i mentioned elsewhere, I thought that every article or post should require your own wisdom-vote to accompany it using the same 50% amount.
And that other than this invisible vote, wisdom cannot be voted on yourself. But nevermind not voting on yourself, that may give an advantage to those with 2 accounts.
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called sharing wisdom.
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Isn't SP wisdom? I mean, the whales now hold all the knowledge-base for the entire blockchain since the beginning 7 years ago. The SP is distributed evenly between the data you're storing and collectively processing would be my understanding of it. Now, the data may be mis-configured but only for a period of time as the blockchain will fix all the kinks.
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