Quiz Time
Question 1 : Will the reward pool finish anytime soon ?
a) No, it is designed to go forever
b) Yes, the doom is near
c) It will finish at the end, but not soon
d) What is reward pool?
Answer :
Reward pool is new Steem created everyday.
All the money you receive, you give by upvotes, paid to curators and witnesses are given from this fresh produced Steem.
The Steem produced is currently at a rate of 1.73 Steem / 3 Seconds.
This makes 49 824 fresh Steem added to the reward pool to be given as a gift to users everyday.
For detailed calculation and experimental data click here
The answer is ( C ), the reward pool will converge to a very small amount in 20 years since the steem supply is decreasing by %0.01 with each 250 000 blocks created.
Further reading by @penguinpablo.
Question 2 : How much % of the reward pool is consumed by bidbots?
a) Less than 10%
b) Approximately %20
c) Approximately %50
d) More than %100, they are root of all evil!
e) I have no idea what a bidbot is...
Answer :
Bid-bots are user made bots in steemit.
The main function is, you send your SBD with the post link and the bid bot upvotes your post with his high SP.
There are currently 14 major bots functioning that is covering %95 of all the bid bot functions.
A daily timeframe calculation for 19.03.2018 is below :
So as you can see, the answer is ( B )
Bidbots, use %20 of total reward pool and distrubute it to approximately 2000 posts daily giving liquidity to SBD.
Question 3 : What is FlagWars?
a) FlagWars is people trying to communicate with flags instead of talking
b) FlagWars is increase of the reward pool so it is good
c) FlagWars is fighting of whales to take the biggest share from the reward pool
d) FlagWars is a self sacrifice to hurt the opponent
e) All of the above
f) None of the above
Answer :
Flagging is the common name for downvoting a post.
When you flag a post 2 things happen :
1- You strip the reward from the flagged post and put it back in the reward pool
2- You use your voting power for downvote which you should use to upvote yourself or someone else and consume the reward pool
If you are just watching a flag war and not included in it, it is very good for you.
Each flag means a whale taking rewards from another whale to increase the reward pool and using his power which he otherwise should use to consume from reward pool.
Let's see with an example :
The most famous Flag War between @FlagaWhale team and @Haejin.
Below is the data from 20.03.2018
These people, flagging Haejin returned 562 STEEM back to the reward pool in one day.
This is more than 1% of the total reward pool and more than 20% of Haejin's daily income from Steemit.
The effect on the reward pool is doubled since they could have used this power for self upvoting and reward pool consumption would be 1200 STEEM.
They are not Robin Hood. What they see is, @Haejin being only one person consumes 6% of the reward pool alone.
They also disagree with the content of his post that it is worth this much.
But most importantly, their upvote worth and income will be increased by %6 if they can stop @Haejin.
So it is always the cold face of money!
%6 is not significant for a minnow like me but it is huge for a whale.
The answer is (e)
Question 4 : Is @Haejin evil?
a) Yes, grab the forks and torches
b) No, I love what he is doing, he is my idol
c) Good for minnows, bad for whales
d) I simply don't care...
Answer :
As we can see above, Haejin is the reason of flag wars that is increasing the reward pool.
If he didn't exist, there should be other whales that should use the reward pool only with their increased income.
The impact of @Haejin as a minnow is %6, even less thanks to the team flagging him.
- Is being greedy and posting 10 times a day evil?
- Is never sharing your upvote with minnows or going for curation evil?
So this really depends on your sense of justice and ethics.
Unlike @grumpycat, @haejin never gave a direct damage to innocent minnows.
The only damage he is giving is by being greedy, decreasing the upvote value and income of the minnows by %6.
So all of us will have different replies to this and all of the above answers are correct!
Stay positive
FD.
I learned at least a couple things here. I didn't know the reward pool would finish in the way you mentioned. Guess I need to re-review that whitepaper. Thank you for that.
So, not so sure I agree with you on a couple of things but agree on most. I believe that flagging is or has become a vital feature of the blockchain however things are not designed in such a fashion that those engaging in the blockchain beneficial flagging actually are rewarded but the community at large certainly gets to reap the rewards thereof. It's a bit of a shame nevertheless it is something that needs doing.
This is where I would have to disagree except for in a more or less utopian idealistic society which we are a far cry from. Flags are reactionary and would not be needed if people didn't engage in the abusive practices that they do. Most of the community, in my opinion, has let it get to this point. Maybe, they had a false sense of security as they though maybe a few agents would really be suited to handle the task of addressing ALL abuse on a platform that is dramatically rising in user volume and activity
The previous model alone is insufficient in addressing the problem. That's why people are coming together with creative solutions but ultimately we need flags and SP to repel the greedy. You and I are one in the same in that we are using our minds to solve the problem where we ourselves may lack power. This is commendable.
A caveat I have is I don't think that @grumpycat using their stake to discipline bid bot users is necessarily a bad thing, It does become problematic when the discipline is not in proportion to the stake of the users. I do think grumpy would do well to condition their downvote weight on certain factors such as rep, stake, and perhaps assess if the users error was one in ignorance or an intentional gaming of the system.
I don't think anyone should be permitted to abuse bots with impunity nor other categories of abuse for that matter but consideration should be given to factors when administering their stake-based punishment.
I think the formula should be tweaked so not matter who you are, the rep damage is proportional. Obviously, this means toning down the weight greatly for minnow and plankton. Also, I do believe users with higher rank may merit more austere punishment because of the responsible of the rep they bear.
As for Haejin, he has attacked friendlies without provocation but not sure if they were minnows, I think he may be learning and understanding what we as a community will and will not tolerate. The lesson is still ongoing but I am confident we are making progress.
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I really love reading your post. Always full of information and posts are always very easy to read and understand
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Thanks @apon318, topic is very technical and i am trying to tell as i want to be told.
FD.
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As a 9 day old user I can say very educating!
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Thanks @taktikai. Welcome to the platform.
What i give is only a point of view and i tried to be objective with facts and data.
There are for sure many other views.
I recommend you to observe them all.
Have a nice journey here .
FD.
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If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
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