Should the $ amount be hidden on posts?

in steem •  8 years ago 

Maybe having the dollar amount visible isn't such a good idea afterall.

So I was reading the comments of one of my youtube videos and came across a very rare, but interesting, negative comment. The user stated that Steemit was a scam and a ponzi. At that moment they had my attention because I've been waiting on some negative feedback about Steemit because everything you hear is always good news. So I continued to read and seen where the commenter had left a second comment saying, "the whole steemit thing would be fair if the $ amount didn't show for the first 24 hours, because everyone only votes on shitty posts that have a high $ sign there." Then continued, "The way this system is set up, people coming in will only make the whales bigger and bigger and won't benefit themselves at all." This was very interesting to me because I had been seeing this already but it never crossed my mind to try to come up with a solution. When I first joined steemit and began browsing the "New" tab, I always skimmed past posts with $0.00 earning because I literally saw no value. Monetarily or content wise. Without trying, my mind automatically came to the conclusion that the post with zero earnings is not worth my time or upvote. When in reality there could be hidden gold. But being that the user is probably new and has low SP, their post went ignored.

Power

The power for users to upvote their own comment is the root of this problem. When a user with huge steem power upvotes their own content. This sometimes turns out to be an advertisement for their post. If I'm scrolling through looking for content and I see a post that has earned $50 in 15 minutes then I automatically stop and click on it. No matter who wrote it, no matter what the title says, they automatically gain my undivided attention. The reality of this is larger accounts have the ability to, in a sense, cheat. When a large account upvotes themselves they could gain up to $50 from their own upvote bringing more attention from smaller users who want to feed off of the post and gain some curation rewards. The value of the post then doesn't matter because they are going to get your vote and my vote regardless of what the post is about because we all know money talks. This could taint the platform in the future because huge accounts could post negative political agendas and other propaganda and always receive votes because the payout is so large. Money has a huge effect on the minds of humans and we will do a lot when we see $ signs.

Fair Face Value

After doing some thinking I have come to agree with the YouTube commenter. Not the side of the argument that says steemit is a scam, but the side that says the $ amount for a post should be hidden for the first 24 hours. This idea would only help the community in my eyes. If the $ amount is hidden then users will be forced to read content no matter what their class on Steemit is. Everyone will be viewed as equal on face value and more posts will be read and curated based on actual interest. I actually believe there is less reading going on here on steemit now because of the dollar amount being visible. They figure that if a post is upvoted and earned that much then there really isn't a need to read it because the dollar amount shows that it was worth the read. This isn't a HUGE problem but I do believe SOME tweaking of the system may be needed. I love steemit and I want whats fair for everyone here. Many whales may disagree with this post but it's ok. I'm at 3,000 SP myself so this would effect me also but I still want whats fair for everyone. Leave your thoughts below in a comment. Do you agree or disagree?

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There is something to be said for the idea that only historical posts which can no longer earn profits should have the dollar value shown. Although even if that was the case, there would still be bias toward posts made by power users with a strong public profile. The urge to "chase the dollar" and every user's natural FOMO (fear of missing out) would lead to behaviors where instead of judging a post by its earnings, they would judge it by who else had been voting for it and who posted it. Neither scenario places full value on the actual content of the post as opposed to the context in which it exists.

The fundamental premise of Steemit and its weighted voting system is that certain opinions are worth more than others to begin with, and in that sense the system is not a democracy, but rather a meritocracy. It's difficult for me to imagine a scenario that could keep the premise of the platform intact without encouraging a "pile on" into already-popular content. It's also, arguably, not incorrect to behave that way, given that the rules that are in place seem designed to encourage such behavior.

Even still, if you believe that posting good content has a higher likelihood of long-term success than posting bad content, the system will ultimately reward the users who consistently do a proper job of both posting and curating. But there will be variance in the short term, which can lead to strange situations such as posts of perceived low value becoming successful just because one or two power users like those posts enough to show support.

You know, I agree very much with this post and am quite happy that this dialog was started. My preference would be that rewards be oriented towards people who reply to post and contribute to the dialog

I wish there was an embedded polling system because I want these articles to be action oriented; no more in-cohesive dialog. In the future the public block chain will mean great things for transparency and politics. There needs to be more direct representation, decisiveness, and accessibility.

Provided this infrastructure society as a whole will be able to catalyze greater initiatives for our mutual standard of living.

Im not sure if that would change anything, people will always look for a way to defeat the system, in this case they'll just learn the names of the heavy users and upvote them regardless of the content

This is true

Maybe username could be hidden for the same length of time then too?

Nah. I think that's taking it too far.

you have brought up a very interesting point that has a lot to do not only with steemit, by with the herd psychology in general. This phenomenon happens everywhere not just here, it happens on the stock markets, in restaurants, in movies ... people see people do.

Casinos also

  ·  8 years ago (edited)

right. it can actually be applied to every aspect of human life. Trends are exactly that, they come and go in up or down trends (fashion is actually the best example).
To go back to you original point, I believe steemit will face serious adjustment before we can call it a fair system. Otherwise it will end up like a pyramidal system where the bottom layer are working for the top ones.

it just as he Yass
I strongly agree

very nice article .

I think that would be a very useful idea. Posts would then be read for their content and value rather than which user actually has written it.

maybe the unfair part is actually the fair part, because than its to most users unfair, does that make things better?? well the whole capitalistic system is built on the same principles and rules and laws steeming is building on. The bigger getting bigger for less work and the ones joining new have to pay more or post more - invest more work for less reward, thats what steemit and all the rest on this planet is doing, i think thats reality check cryto is no different but maybe we the lucky ones because we on it early but i dont think its any different than the rest - other the fact that its runing on the blockchain and there evole other uses, we will see were this goes

Very good question. The more I think about it, the more I'm inclined to think the answer should be YES.

This is a decent idea, the fact that everyone votes on posts that are potential money makers is an issue. I myself do it just like you. I could still see savvy individuals looking through for the names of popular bloggers and posters voting for them alone though.

Eventually when the rewards are more distributed I think it would truly show a significant benefit to operate without the dollar values showing for the first payout (I believe there's two payouts now moving forward) at 24 hours.

Makes me wonder should the dollar value be hidden for the next 30 days as well while the post is still in accumulation mode?