RE: Should We Raise Curation Rewards From 25/75 To 50/50? by bryan-imhoff

Viewing a response to: @theycallmedan/should-we-raise-curation-rewards-from-2575-to-5050

dpoll · @bryan-imhoff · Apr 23 '19 (edited)

$0.27

Voted for
- No

No, for several reasons. I believe bid bots would be capable of adjusting to the new dynamic. They would gain heavily from increased curation reward and be able to pay that forward to their delegators, making this change minimally effective in incentivizing better curation from higher SP individuals. Rather than improving authentic curating, I think a 50/50 split would instead incentivize more curation trails and schemes to maximize rewards. It would definitely slow the velocity with which Steem is distributing out to more accounts. Those who vote generously now would have to start actually tipping Steem instead of voting if they wanted to continue building minnows or their communities up at the same rate they currently are, which simply over complicates the system. Most importantly, I don’t think the current curation system is showing its true maturity and function yet due to Steem’s low userbase. If a post gets genuinely popular at present, it may get a few hundred organic upvotes. We have yet to see true virality and popularity on Steem. With broader distribution and more activity we’ll see curation truly shine as some folks will be the first to discover & promote content that goes on to millions of upvotes! That kind of curation reward won’t be bought or manufactured like in today’s small ecosystem.

*edit*
I also see a future and application for businesses and brands that purchase stake to reward their fans & customers by upvoting positive posts, reviews, comments, etc. In this scenario those users care more about their voting strength, not their curation kickback. I don’t want my vote based “marketing spend” hobbled by 33%.

👍 theycallmedan, lordbutterfly, krnel, markkujantunen, lordneroo, edb, valued-customer, bidesign, mixr

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@theycallmedan · Apr 23 '19

$0.03

Great input. I want to say that curation rewards for bid bots are terrible,  as they have zero control over when they upvote, it is supply/demand driven. People use bidbots and upvotes after they have upvoted and usually people don't upvote after they see bidbots have upvoted. Point is curation rewards highly favor those who upvote before most others do. 
Also, for low SP holders, the best thing you can do is try to accumulate more SP, so your upvote matters more. Having 50% instead of 25% of curation rewards allocate you the opportunity to earn more curation rewards if you are skilled in timing your upvotes. Meaning, lower SP holders now have more of a chance to increase the SP in their account by effective curating in a 50/50 system. Now, of course, if they self upvotes in this current system, that is the fastest way to get more SP. But I want to make it so curating gives the fastest SP.

👍 bryan-imhoff, urme33

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@theycallmedan · Apr 23 '19 (edited)

$0.05

I forgot to say businesses that want to reward their users, the best route is an SMT that they have full control over the split. Steem IMO is for distribution, second layer tokens like SMTs will be for rewarding users of each ap. In DPOS, distribution is very important. There should be two layers, one that distributes and a second layer that provides liquid rewards based off the apps popularity.

👍 bryan-imhoff, markkujantunen, urme33

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@bryan-imhoff · Apr 23 '19

$0.16

I’ll be interested in seeing how SMTs play out, but I think Steem itself has good viability here for small business. Sure if Coca Cola gets on Steem there will be a Coke coin, but someone porting over their Etsy shop won’t necessarily want to launch a token. 
In a long term future I’d envision average social media users maybe making $50 - $100 USD a year on Steem. Generally not enough to care about linking bank accounts or setting up a fiat gateway for themselves. But they will spend it back to the brands/business/creators that voted it to them... possibly with some extra fiat from their own pocket to boot! It’s really the ultimate “self upvote” as savvy creators get back a chunk of the Steem they “voted away” while building brand loyalty & shopping conversions. I think Steem can handle this elegantly at its base layer.

👍 theycallmedan

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