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RE: Pros and cons of two versions of Steem Proposal System

in #blocktrades5 years ago

One of the reasons people choose to sell votes or delegate to bots is because curation rewards are low. If curation rewards could be competitive with vote selling, more people would curate content. A few other changes would need to be made to increase the effectiveness of this approach. Such as downvote pools and inclusion of sbd in curation rewards. I have written about such changes several times.

Natural curation would also enable the more popular content to gain exposure, which will be good for the platform.

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Curation rewards go up, bots benefit more from indiscriminate vote selling. Another important reason people delegate to bots is because of the passive income they can get by being absent.

So, this could mean a lot of things. More people might even begin voting indiscriminately on posts, acting as bots themselves. More people will powerup to get more curation rewards, increasing the price of steem. A great idea, but it's worth exploring and weighing the pros and cons.

Curation rewards go up, bots benefit more from indiscriminate vote selling.

I don't think this will be the case. Many users delegate to bots because returns are so much higher than alternatives. Raising curation rewards gives users a better alternative to earn from holding stake. I would expect, if curation rewards are raised sufficiently, users to undelegate from bots and more actively curate. Bots earn curation rewards, curation rewards are based on stake. Less delegation will result in less rewards for bots.

I still maintain that it might not be the case. Bots offer a way for inactive accounts to earn pretty decent curation rewards. More active users might undelegate and start curating manually, but there will still be a large group of people who will stick to the bots, especially now that curation became even more beneficial.

Higher curation rewards will also mean higher rewards to dapps. Inactive accounts can choose to delegate to dapps instead of bots. If dapps are also earning revenue from advertising, delegators can get a share of that as well. If curation rewards remain low dapps will struggle to compete with bots.