On their last post @leofinance announced that they are changing the curation curve to a linear one. If you read the comments almost everybody is excited with this update since it is intended to incentivize manaul voting as opposed to autovoting.
Except that I don't see that this change will have the desired effect. Sure, some people will change to manual curation instead of setting up a bot to try to front-run bigger votes. However, this change does not remove the incentive to continue to use voting bots.
In the current setup authors have an advantage over voters. Whenever you published a post you received a higher portion of the curation rewards compared to everyone else that votes after you (if you select the option to vote on your own post).
So this update removes this advantage (and that is a good thing) but people that just want to earn a passive income and do not want to be bothered with manual curation will potentially earn more.
Of course this will take away the marginal earnings that autovoters have over manual curators but it will also remove the advantage that authors have over all voters (manual or not).
I hate to brake it to you guys but I don't see how this changes much (aside from people that actually want to manually curate). It's not all bad...at least comments will have the potential to be upvoted (and that is good for engagement) but it also opens the door for comment farming.
I am not that pessimistic as the tone of this post might imply but I don't share the enthusiasm of the comments on the original publication (the game theory just doesn't add up for me).
Posted Using LeoFinance Beta
I appreciate the feedback. I always like to hear multiple perspectives and never take criticism as a personal attack :)
“ Of course this will take away the marginal earnings that autovoters have over manual curators but it will also remove the advantage that authors have over all voters (manual or not).”
Autovoters actually have the advantage under this scenario (with the old setup). Unlike Hive, LEO has no reverse auction window which means the closer to 0 seconds you can vote, the better. Autovoting will still beat even the author upvoting their own post manually right after they hit publish (since it will take them at least 6 seconds from even a technical perspective to broadcast a post in 1 block and upvote it in the next block) — from the UI side, it still takes about 20-50 seconds +
For comments — this doesn’t really change much for voting comments. We don’t have the same curve algo as Hive so votes on comments aren’t disincentivized.
For the debate that this doesn’t have an incentive for manual curation — the theme of our announcement was that this change “leveled the playing field” as opposed to adding incentives to manual curators.
Under the old setup, manual curators were actually penalized for manually voting on posts. Autovoters had an advantage from both a time efficiency and from a financial point of view.
Now, autovoting only has the benefit of not requiring manual time to curate.
Manual curators now don’t have to worry about how much a post is earning before they upvote it.
This shift is aimed at removing the disincentive for manual curation. It’s not a permanent solution to the debate over auto versus manual, but I do believe it’s a step in that direction. Perhaps you’re right and we won’t see more manual curators rise out of this. But I do think we can all agree that the ones who already manually curate shouldn’t have to give away their earnings to autovoters.
Hope this makes sense! Keep the feedback coming 🦁
Posted Using LeoFinance Beta
Fully agree with you.
I was doing extremely low percentage of my votes manually for just one simple reason:
Why to consume my voting power (which is limited) in less profitable way, when I can use it more profitably for myself by letting the autovoters do the job for me, on the 3rd or 6th second.
Yesterday I have turned all my autovoting bots (those which controls my LEO stake) OFF.
I could easy do this (OFF) as my LEO stake is separated from my HIVE stake, on an alternative accounts.
My HIVE stake remains autovoting as crazy with a very clever bot, which self adjusts vote timing for the best, most profitable moment, and for each author individually. Usually my Hive bot hits in between 2 and 3.5 minutes. It feels like in a BOT-WAR.
Posted Using LeoFinance Beta
The door for comment farming was always open, with both systems. Honestly this changes nothing, other than ninjas not getting a bigger share of the pie. Which is good for the rest of the 99% users. Even big whales autovoting are happy with this. Case closed.
Posted Using LeoFinance Beta
The fundamental change that this brings is that it removes the advantage of self voting not autovoting. As an author you can always front-run everybody since leo doesn't have a voting window like hive or other tribes. That is a good thing. It also levels the playing field for curators. But people that don't want to put an effort to manually curate will not have an incentive to not autovote (it's financially agnostic to do so and in fact there is still an opportunity cost to do manual curation -with any system-). As I said I am not that pessimistic but I still remember the effects that the linear curve for author rewards had on steem.
Posted Using LeoFinance Beta
With a time window of exactly 0 seconds, you are wrong even in this. Often autovoters would vote my post first in the 1 second i needed to click the upvote button.
They have an incentive. They make the same amount of money with manual curators while putting zero effort.
Posted Using LeoFinance Beta
I am only wrong if the author selfvotes manually, but if they have a bot setup they have the same advantage as other autovoters versus the rest of the crowd. The main argument of my post is that there is no extra incentive to curate manually vs doing it via code with a bot (they both have the same apr).
There is still an opportunity cost to do manual curation due to how time consuming it is. As a told khaleelkazi I am not opposed to the change I think it's better from a macro point of view by leveling the playing field. From an individual perspective it is still more cost effective to setup a bot but at least manual curators do not lose out vs the autovoters.
Posted Using LeoFinance Beta
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