Voting-Power to the People and Curation Rewards to the Investors - Please bookmark and read later if you are BUSY! by fyrstikken

View this thread on steempeak.com
· @fyrstikken · (edited)
$19.60
Voting-Power to the People and Curation Rewards to the Investors - Please bookmark and read later if you are BUSY!
<center><img src="http://www.datacenterdynamics.com/pictures/780xany/9/6/8/16968_ThinkstockPhotos-124946816-1-top.jpg"></center>

Before a Norwegian soccer-match is being played, the captains of the two teams agree to "fair play". This culture in Norwegian soccer has after it became a thing, reduced accidents and the number of red and yellow cards.

However, our fair-game culture does not work in international competitions were you play against other teams that does not have the same fair-game practice in their gameplay, and often do the Norwegian National Team lose to other National Teams because of it.

<h3>Team Steem - A crude writeup about reward-pool and what is in it and why:</h3>

There is about $7000 worth of tokens in the daily reward-pool because of the low market-cap of STEEM, if STEEM doubles in Market-Cap there will be about $14,000 worth of tokens in the reward pool or if let us say STEEM should drop to 1 cent, well - then there will only be $700 worth of tokens in the reward-pool.

So how do we solve this fair/unfair situation that has everybody talking? Well, spreading awareness in layman terms so that people understand why some days rewards are low and some days rewards are high is one way to do it, now that you know that there is only $7000 Dollars to go around to the 1400 blog-posts that will be made today and the 5000 comments people will write it should be pretty obvious that we must up our financial-culture, but wait a minute - most of our users do not know what the daily reward-pool has, so this could be visualised on @steemit, @busy.org, @esteem like this:

<h2>How the Reward-Pool could be displayed to logged in users:</h2>
<center><img src="http://i.imgur.com/H2eaxVT.png"></center>

The first example shows todays situation, the second example shows a doubling in steemΒ΄s price and the last example shows the peak-value of the reward-pool when a STEEM was worth $4.50 and not $0.10 like it is right now. And I am using very crude numbers for the purpose of saving time and make you do the fine-calculations yourself ;)

Posting-Rewards could also be displayed as % of the reward-pool, so let us say a post has earned $70 divide that on the reward-pool which is $7000 and time it with 100 and the answer is 1%. `(70/7000)*100=1%`at this market-cap which at PEAK-VALUE would be a $3150 Post if the price of STEEM was $4.5 which it most likely will be again in the future.

<h2>STEEM, USERS & INFLATION - How to manage all this in the future?</h2>

Alright, so this is a tricky one - <b>Current Inflation in STEEM is 9.5%</b> and we do not have a "COIN CAP" like Bitcoin has, nor do we model ourself after Bitcoin anyways so our system - STEEM - needs other metrics to make sense for investors, and there are three factors that are important in the long run

- User-Growth
- Active Users
- Market-Cap Increase

I made a pretty crude display of how this will look like in the future, in my model I have made a yearly reduction in Inflation all the way to zero in 20 years, just to get a feeling on how much coins would be in circulation in 20 years, so basically a "BS" model, just to get an idea and a reference point for future talk about inflation and user-growth.

<center><a href="http://i.imgur.com/0x5eECQ.png"><img src="http://i.imgur.com/0x5eECQ.png"></a></center>
(Click image for fullscreen)

<h2> Steady User-Growth is great, if we can manage it from 500 accounts with enough steempower that matters, but I have a better idea</h2>

I have only heard the slogan "Power to the People" but I have never seen it in action. And at some point there will be too many users making too many posts and comments creating somewhat a bottleneck for future growth. I am sure you understand that it is easy to vote for 1400 posts per day then it will be to vote for 14,000 or 140,000 posts per day if you catch my drift. So what <b>if</b> I could simply go into my steemit-settings and click a button that delegate my steempower/vote-power to the "5000 most active users the last 72 hours with a reputation over 55" for example. Each of these 5000 accounts would receive 1/5000th of my votes to play with while I keep all the curation-rewards, because - if you want to earn curation-rewards you need to invest like the rest of us.

<h2>It could look something like this on the settings page</h2>
<center><a href="http://i.imgur.com/x5AVmCN.png"><img src="http://i.imgur.com/x5AVmCN.png"></a></center>


<h2>Gangnam Style & That guy that cried LEAVE BRITNEY ALONE and other Viral stuff</h2>

In Google it is not the shareholders who do the youtube-video voting, and on Facebook it is not the shareholders who like your content - can you imagine the workload if facebook-staff had to do all the liking and disliking? lol, they got 1.6 Billion users over there, or so they claim - but it is clear to everyone that all the social medias work best when everybody has an equal vote, or can climb a ladder (reputation+normal activities) to get more vote-power, while the shareholders - SteemPower owners can do other things like talking about how great their steem-investment is doing to their investor-buddies while the masses read and write and upvote and downvote the way they see fit. 

Of course it must be an option so we do not force anyone into something they may disagree completely with, but I think it will work, I actually think that giving the "Vote Power to the People" and "Curation Rewards to the Investors" will make the steemit experience more fun and more profitable for everybody.

Tell me what you think in the comments below, and have a blessed day! <b>oh, and if you have not yet, come and vote up `fyrst-witness`on the witness-list <a href="https://steemit.com/~witnesses">by clicking here</a>, Thank you :)



<center><img src="http://i.imgur.com/9ucAye2.png"></center>
<center>Join me and hundreds of other active steemians on <a href="https://discord.gg/sqxV63P">SteemSpeak Discord</a> and be heard and seen - or just listen and read :)</center>
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 296 others
πŸ‘Ž  
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@dwinblood ·
At this point I'm pretty much willing to try ANYTHING except forcefully taking currency from other people's accounts.    Anything else I'm willing to try as long as it is new, and if it doesn't work we have no problems learning from our mistakes and backing up.
πŸ‘  
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@reddust ·
I'm with you!
πŸ‘  
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@fyrstikken ·
<h3>It could look something like this on the settings page</h3>
<a href="http://i.imgur.com/x5AVmCN.png"><img src="http://i.imgur.com/x5AVmCN.png"></a>
adding it to the OP
πŸ‘  
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@karenmckersie · (edited)
Awesome post as usual ! I think its a great idea , and im looking forward to reading some of your replys on this , Im sure you will get alot ! Still voteing for you as witness , keep up the great work ! Im looking forward  to the day when steemits a more happy place again for everyone ! Thanks for all the support as well !πŸ˜‰πŸ‘πŸ˜Š
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@fyrstikken ·
Thank you @karenmckersie - you are a pretty awesome little old lady :) I am very happy to see you on steemit. I believe the future will be bright, just need to get from this place to that place.
πŸ‘  
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@karenmckersie ·
Your so right ! Im looking forward to the future !πŸ˜‰πŸ‘πŸ˜Š
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@baah ·
Pretty awesome means lying, calling people crackheads and then supporting the people that go completely counter to those you say you support?
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@baah ·
She goes around expressing platitudes then when cornered and faced with her own hypocrisy she resorts to name calling after which she says "I never called anybody names", how can you applaud her after she went on @craig-grant and said I support you to his video saying that he is finally happy that he can downvote for the only reason he thinks downvoting should be used for: redistributing the reward pool.
πŸ‘Ž  
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@baah · (edited)
At this point she is more like a robot posting the same senseless "Great idea, great work" and when she's challenged about what she supports she backs away and says that it's not her departament, absurd, she gives her opinion and then admits she doesn't even know what she's talking about while retorting that I have no idea what she supports, as if I cannot observe or my powers of reading comprehension have escaped me when it comes with reading her replies, bullshit opinions and platitudes, a hypocrite and a liar.
πŸ‘  
πŸ‘Ž  
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@fahmiauliasfr ·
@fyrstikken
hope that what you post can be read by all users steemit. 
you really did an excellent job and extraordinary, amazed by you.
Good job and good luck.
πŸ‘  
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@fyrstikken ·
Thank you, I hope it will be read now or later by many so we can have a healthy debate about it and maybe make it into a reality.
πŸ‘  
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@fahmiauliasfr ·
right, sort of cooperation we really need to address the issue, I strongly agree with what you say.
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@reddust ·
Great post!
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@krnel · (edited)
Thanks for this idea. It's where things need to go. Best solution for many issues now and in the future, as I see it. Resteemed!
πŸ‘  
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vote details (1)
@wingz ·
Talking about fairness and reward pool draining recently... I think is missing the point.

It's about perception in the long run. Take steem guild for example, upvoting themselves to be top trending. From the outside it looks like a few select individuals have been given some power and abused it.

Automatic whale votes, I left a comment, maybe 7 months back to steemed along the lines of if you focus your votes on one area then everything else will become barren.

In my opinion it's not about fairness at the moment, just figuring out the route to mass adoption and scalibility.

A good point made with regard to Facebook staff. I agree with you in spreading awareness. I think your idea of displaying the reward pool may be a good one, not as default though, maybe as an additional feature.
πŸ‘  
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vote details (1)
@teamsteem ·
Very valuable information here. Great ideas and I feel like I'll be re-reading this a couple of times.
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@fyrstikken ·
That is awesome @teamsteem - re-reading it myself too.
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@barrydutton ·
I had it out on my page with smooth last nite on this --- he really upset me and I wrote my thoughts strongly to him, I am sick of the nonsense by a few people on here harming some of us or even considering it who post a ton, work very hard and earn VERY LITTLE and to have that odd post taken away from us that pays a few dollars, while 98% of our posts earn nearly nothing -- is not cool at all.

would appreciate your comments on this post about this!!!


https://steemit.com/cryptocurrency/@barrydutton/breaking-crypto-bitcoin-godfather-charlie-shrem-s-company-signs-jaxx-wallet-ethereum-co-founder-anthony-di-iorio-as-advisor-jaxx#@barrydutton/re-smooth-re-barrydutton-breaking-crypto-bitcoin-godfather-charlie-shrem-s-company-signs-jaxx-wallet-ethereum-co-founder-anthony-di-iorio-as-advisor-jaxx-20170228t052359244z
πŸ‘  
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vote details (1)
@barrydutton ·
It is very upsetting to us Minnows that work very hard, post a lot and promote Steemti elsewhere -- take our votes and dignity --- but never comment or vote for us???    Yeah, that is super fair and balanced on the odd nice little $50 payout alright every few weeks.
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@fyrstikken ·
Sure, IΒ΄ll check your comment and give you a reply...
done, check your replies :)
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@baah ·
Keep exposing their fallacious arguments and bullshit, the blockchain remembers and in the event this becomes a ghost town there will be no argument as to why it happened: greed, hypocrisy, and idiots who rely on those greedy assholes that policed everyone out of existence, as long as @iflagtrash keeps censoring me and others without anybody standing up for truth and fairness the obviousness of the dysfunction will only drive more and more people away.
πŸ‘  
πŸ‘Ž  
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vote details (2)
@cognoscere ·
$0.10
Thanks @fyrstikken for enlightening us about the size of the Steemit reward pool.  I think it's a great idea to have that particular stat front-n-center!!!
πŸ‘  ,
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vote details (2)
@fyrstikken ·
Your welcome.

We have a realtime-bot on @steemspeak Discord that tracks the size of the reward-pool in realtime by using the command 
`$rewardpool` in the chat

Here is an invitation-link for you: https://discord.gg/sqxV63P
πŸ‘  ,
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vote details (2)
@pairmike ·
Fry,

I'm voting for you as a witness.
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@fyrstikken ·
That is awesome @pairmike, thank you very much!
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@beeskee ·
I know you said the chart was for a rough idea, but you kinda projected more users than the population of the planet. By year 11.
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@creatr ·
My friend @fyrstikken,

I am a little confused; Are you and @fyrst-witness one and the same? I have voted for @fyrst-witness at your request because you are one of my "early encouragers" here on Steemit, which I will always appreciate! :) Thanks again! :) πŸ˜„πŸ˜‡πŸ˜„
<a href="https://goo.gl/dIZCsm" target="_blank">
  <img src="https://i.imgsafe.org/b68e74b386.gif" alt="@creatr" style="border:0;">
</a>
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@snowflake ·
I think the idea of bulk voting power delegation is very interesting. I also like the idea that whales could delegate their voting power while still keeping all curation rewards. Unfortunately I 've heard that the feature will actually do the opposite, curation rewards will go to users who have been given voting power. They could always send rewards back to the whales but i'd prefer if this was built in the code, whales would have a lot more incentives to delegate their power if they can receive curation rewards still.
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@fyrstikken ·
Thank you @snowflake, I hear you have some pretty good ideas about things yourself. People have mentioned you on @steemspeak many times. I doubt it will be in the investors interest to delegate his vote-power if he is not getting his rewards, so unless there is more to it - I think that idea probably will flop. I Need to read more up on it but from the word on the street it has not been received well. You are an awesome person!
πŸ‘  
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vote details (1)
@gamer00 ·
> we do not have a "COIN CAP" like Bitcoin has

Seriously? I was under the impression it was capped.

I've been lied to, and Steem is going fail, its worth can't ever be sustained if there is no cap. Sorry but that's the reality.
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@baah ·
You were lied to by your own impression?
Before you make predictions such as "steem is going to fail" which are backed up by arguments like "it's worth can't even be sustained if there is no cap" I want to know exactly the logic that follows that no limit means it's worth can't ever (right now?) be sustained?

from the white paper:

>Impact of Token Creation Rate
At first glance, 100% annual increase in the STEEM supply may appear to be hyper-inflationary and unsustainable. Those who follow the Quantity Theory of Money (16) may even conclude that the value of STEEM must fall by approximately 5.6% per month. We know from countless real-world examples that the quantity of money does not have a direct and immediate impact on its value, though it certainly plays a role. Because 90% of all STEEM created is distributed back to holders of SP, the result is similar to having a 2:1 β€œsplit” every year rather true inflation. The total rate of expenditures used to reward contributors is about 10% of the market capitalization per year, a rate well below what Bitcoin sustained for the first 7 years after it launched.

..
>From August 2008 through January 2009 the U.S. money supply(17) grew from $871B to $1,737B, a rate of over 100% per year and then continued to grow at about 20% per year for the next 6 years. All told the money supply in the U.S. has grown by 4.59x over less than 7 years. During that same time, the value of the dollar relative to goods and services has fallen less than 10% according to the government's price index (18). This real-world example demonstrates that supply is only one component of price. The price of a digital commodity, like STEEM, is driven by both supply and demand. If new STEEM is allocated to those who are holding long-term then the increase in supply is offset by the corresponding demand to hold. The impact of this change in supply is postponed until a future date when the long-term holder decides to sell. The sell pressure is then distributed over 2 years.
πŸ‘  , ,
πŸ‘Ž  
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vote details (4)
@gamer00 · (edited)
∞ * 0 = ?

Only in scarcity can you find value. Why do you think Bitcoin is rising in value? Why do you think Dogecoin tanked big time? With infinite supply of money the prices will soar, the currency will devalue, or both.
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@merej99 ·
I love these ideas @fyrstikken - especially the option to view the reward pool and an option on the settings page to distribute your vote power to our chosen people. Very thoughtful and thought-provoking.
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@baah ·
I feel the need to warn everyone about @fyrstikken, he has been calling for community while he's involved with things like what @berniesanders has brought to light, and  I have my suspicions which I have voiced in that comment there about @frystikken other activities, namely operating the troll account @iflagtrash.
 I implore you and others to consider who you are voting for and if they are truly motivated as to what they say.
https://steemit.com/badboy/@berniesanders/if-you-have-any-question-who-owns-blacklist-and-backlist-a-here-s-the-answer#@baah/re-berniesanders-if-you-have-any-question-who-owns-blacklist-and-backlist-a-here-s-the-answer-20170301t234704435z
πŸ‘Ž  
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vote details (1)
@baah ·
https://steemd.com/@fyrstikken?page=35

Does anybody else find it scary that someone with so much SP won't use it to vote for anything and clearly is only a gesture? Who votes only as a gesture and without even expending 1%, the link might need adjusting as his activity pushes it back but look at how his voting was clearly worthless and engaged in that for DAYS, all the while this same person claims that they want to give everyone more votes! What a hoot, more worthless votes, a disingenuous gesture, this is trollish behavior if there was ever such a thing, Plus my comments remain nuked by an account similar to @asshole, @blacklist and his sister bot, without explanation I get flagged and nobody bats an eye, all while someone with so much SP that they could found these accounts with not even pocket change has been linked to their activities and ignores the obvious troll account while engaging in the most despicable act of spreading community: Trolling people with worthless votes.
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@baah · (edited)
@Frystikken how do you justify calling for more votes with your I love voting bot while you vote with 0.04-0.1% for days without rewarding anybody with your enormous steem power?
@krnel How do you feel about that habitual trolling and his involvement with community trolling by accounts @blacklist, @blacklist-a and it's money extortion scheme dressed up as some kind of police, without any disclosure as to the motives/reasons for people being flagged by it, irrational, all ereely similar to @iflagtrash?
I think you need to answer before he does, because I see you posting about truth, morality, and standing up for those timeless virtues and you displayed a very strong character for shunning such trollish things, I question @frystikken solely to bring awareness and you to realize who is are your friends are and who is simply parroting your ideals and others ideas while acting in disturbing and disingenuous ways.
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@fyrstikken ·
$0.03
`fyrstikken: 88.44% Vote-Power remaining; after casting 2103 votes in 24 hours`

I vote with 1% what I do not see, I vote with higher percentage when I read an article manually. Not that I have to justify myself, I have invested my own money into STEEMPOWER and a 1% upvote from me approx the same as a 100% upvote from someone who has 2500 STEEM in STEEMPOWER.

If I am voting with less than 1% it means that my account re-charging vote-power.

And if you have been flagged by @cheetah, @blacklist, @steemcleaners, @fubar-bdhr my bot will skip upvoting you, and I suggest you take it with the ones who have flagged you and not come here and blame me for not upvoting you if that was the case.

`bah: 100.0% Vote-Power remaining; after casting 0 votes in 24 hours`

I rest my case.
πŸ‘  
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vote details (1)
@abit · (edited)
Hey, please be aware that the supply table is absolutely WRONG! Error begins from the 3rd or 4th row (approximately). Please calculate again.

I had a table somewhere, let me find it..

//Edit: other ideas are thoughtful. Thanks for that.

//Edit: found it: [link](https://steemit.com/steemit/@defluyt/is-this-an-accurate-representation-of-steemit-s-business-model#@abit/re-defluyt-re-penguinpablo-re-defluyt-is-this-an-accurate-representation-of-steemit-s-business-model-20170228t000956931z)

my data:
```
year current supply	inflation New supply
1	250,000,000.00	0.095	23,750,000.00
2	273,750,000.00	0.090	24,637,500.00
3	298,387,500.00	0.085	25,362,937.50
4	323,750,437.50	0.080	25,900,035.00
5	349,650,472.50	0.075	26,223,785.44
6	375,874,257.94	0.070	26,311,198.06
7	402,185,455.99	0.065	26,142,054.64
8	428,327,510.63	0.060	25,699,650.64
9	454,027,161.27	0.055	24,971,493.87
10	478,998,655.14	0.050	23,949,932.76
11	502,948,587.90	0.045	22,632,686.46
12	525,581,274.35	0.040	21,023,250.97
13	546,604,525.33	0.035	19,131,158.39
14	565,735,683.71	0.030	16,972,070.51
15	582,707,754.22	0.025	14,567,693.86
16	597,275,448.08	0.020	11,945,508.96
17	609,220,957.04	0.015	9,138,314.36
18	618,359,271.40	0.010	6,183,592.71
19	624,542,864.11	0.010	6,245,428.64
20	630,788,292.75	0.010	6,307,882.93
```
πŸ‘  
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vote details (1)
@fyrstikken · (edited)
You are correct @abit, the supply-table is `basically a "BS" model, just to get an idea and a reference point for future talk about inflation and user-growth. ` Since I am sure we will have to re-budget the supply-table before we can remove the `beta` from our platform :) IΒ΄ll work on those numbers, can you post the current table here if you have one?

edit: awesome, thank you for the supply-table!
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@kus-knee ·
Great post with great ideas! Well done!

**@kus-knee (The Old Dog)**
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@artem-sokoloff ·
Resteemed. I will read it at home )
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@literallyhitler ·
Steem is love, Steem is life.
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@edje · (edited)
Let me start to say I agree with what you suggest in showing better how big (or small) the reward pool is; To give instant insight in what someone / post / comment is taking from the reward pool. It also should show to writers and commenters that the reward pool is in essence quite small and posts with 20$+ payouts actually take a large percentage of the reward pool.

Rewards and Power shall be decoupled IMHO.

Auto distribution of rewards to the top active people may sound a good idea to reduce time spend on reading and voting and therefore rewarding, but I disagree with reward distribution based on top x, whatever the dimension of the list is: number of posts, number of comments,... Auto voting (like also done with bots) is something that I'm not against, however until we develop autovoters and bots that can actually read, understand and comprehend the content of the post itself, auto and bot voting does not help to increase the quality of the posts. In addition, bot voting does seem strange to people (at least it does to me) when you get eg 50 votes, no views, and not even 1$ct due to low percentage voting. Curating is good to help blogging community to evolve and increase. Commenting and seeking interaction is even better to help growth of the community incl active users. Quality content is a must IMHO, so anything we do, shall ensure quality is rewarded over quantity. That can be quality in original blog post, comments and in more general terms: quality interactions. How to exactly implement this, I'm not sure, but probably it shall be a combination of technical, process, guides and watchdogs.
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@fyrstikken ·
That is exactly why I want the majority of users vote for content instead of the majority of the capital-holders. Right now we are seeing the results of "the experiment" which is still ongoing, and it shows clearly that when you give "the masses of users" the power to vote up or down great or bad content, we have a much more fair and fun playing-field with an incentive for all users to buy STEEM and power up.

I am sure all the whales would agree that they rather have stakes in something that many people value, instead of what we had before - whale-collution that only a few people valued.
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