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.
You are viewing a single comment's thread from:
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.
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.
SMTs don't have to be website specific. I agree that the owner of a shop won't launch a token, but that doesn't mean he will use STEEM. He will use whatever SMT is best for his business, or simply best as a currency. Since every SMT will have its own properties (for example 50/50 curation or not), I will believe the best SMTs will be naturally adopted through economic incentives.