HF19 is reverting back to HF18

in steemit •  7 years ago  (edited)

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The HF19 seemed amazing at first when it was first released and there was a major boom in all the payouts. Sadly we've demolished the rewards pool and still continuing to do so, soon the rewards are going to be scaled to something resembling the previous model before the hard fork.

Ok ok, minnows have a vote now, we can give rewards right, yeah right but not really. At first we do give out rewards with our insignificant 10/20c upvotes but actually they vanish till the 7 days payout comes, therefore its kinda the same as before, the only difference being that the voting power drains like crazy.

It's like changing your car from an electrical engine to a v12. More power less milage.

It's only been a week and something now and things are continuing to drop. Hopefully we get some balancing update sooner or later to fix the fluidity.

So what's to be seen ahead, anybody have any ideas?

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Ok this makes much sense now.
Thanks for the share.

You are welcome!

Very good point @vangelov. Initially it was all good however in reality, I think the former 40 upvoting allowance was better as people can actually upvote lots of posts they like without compromising their voting power. However I still upvotes well written post , thanks for sharing. Following you and Upvoted.

Thanks bro :) returning the favor ^^

You are welcome buddy.

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It's to early to tell, things have to settle down. Also another thing is that the all cryptos are getting hit causing steem to go down in price also, I would give it another three weeks to see if it was a good idea or not. 😀

Well BTC is roaming around 2.5 and doesn't fluctuate that much.
The only coin that's currently being battered is ETH.
Steem and SBD should be interconnected mainly to the Bitcoins but probably the price dropped due to poloniex taking a dive and most exchanges taking the coins off due to the HF19
But yeah probably in 2 3 weeks we can see a difference or a new HF release ifbit doesn't work out.

Well I guess we can not do anything except to wait, right?

And I had thought that HF19 was a raving success!

I guess the next two weeks will tell what direction to move. It would be a shame revert back to the old version - everyone is loving the latest.

I have been wondering why the "potential payout" drops for every day that passes. Do you have a easy explanation ?

I guess HF20 may include another balance of some sort, increasing payout. But as more members join every day the payout can't be expected to be the same as before can it ?

I have no idea... hope SBD will increase

It's not supposed to increase. It's supposed to be worth $1.

It increases because people are trading it on exchanges. And since it's a token only generated by the creation of content on steemit, it's limited. So when the traders demand more, the price rises.

I'm aware of that.

I have seen some proposals in having more tools for Steemians to put more downwards pressure on the SBD price. I hope we can one day have these type of tools. So we can have a working stable coin.

That would be a real asset to the platform.

Well that is supposed to be worth 1$ doesn't mean that it will not raise, nobody can stop it from raising, right?

That's correct. I prefer the SBD to be worth $1 though.

well I hope it will raise as soon as possible!

Down down down..

Back to sqaure 1

The worst part of the new voting system is that the drain on upvoting is too detrimental. This discourages the minnows from voting when they would like to . It seems that they need to find a happy balance to the two extremes or there will be less voting by the everyone. Thank-you for your article.