Authors/Curators/Witnesses

in LeoFinance3 months ago (edited)

@dalz just put up one of his monthly "Top earners" posts. With any stats you will always have people interpreting them in their own subjective way. Viewing these stats subjectively myself I found a few things that were interesting.
Im not going to be assigning major conclusions to them or making grand proclamations. Just to be clear off the bat. 😅 Im just noting simple observations.

image.png

I made the list, yeey. :)

I try to look at the stuff happening on Hive through the lens of days passed. Years back these lists looked very different. The names, the values and overall distribution.

One interesting thing to note is that if you looked at the values listed for top rewarded authors and compared it to the values for most rewarded curators you see that just 1 single top curator whale could cover the rewards a few times over for all the authors listed here.

image.png

This in my eyes shows that the rewards are distributed far wider than what we might expect.
On every social media platform it is expected that the top creators earn most of the total rewards but it very much seems thats not the case here on Hive.
The top20 curators distributed the equivalent of 500k Hive while the top 20 authors earned about 35k.

Lets look further.

image.png

When we are looking at the top Hive witnesses we get a better sense of the rewards distribution between top earners.

  • The top paid author on Hive earns the equivalent of the 25th ranked witness.
  • The top paid author earns about as much as the 60th largest Hive account looking at HP.
  • Each of the top 20 Witnesses earn about as much as a Whale curator with 1.5 million HP.

With 1.5million Hive being valued at around 500k USD you could potentially say that a witness top 20 position has a 500k USD value just looking at the passive future earnings potential.

Ofc, having significant capital present allows for you to take advantage of the market. (Although the 12 week powerdown can be a drawback there).
You could also say that buying 200-300k HP, when it comes to earnings, is preferable to being the most paid author on Hive. The purchase is instant while getting to that author position is both a continuous difficult effort and payouts not guaranteed.

These "maths" arent done precisely but id say I'm not too off when it comes to these observations.

Anything else we can observe here? In whose position would you like to be if you could choose?

Id personally take a million HP over any of these other options. 😂

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To me what causes too much noise is that an account that only publishes curation reports (recycled content) is among the top earning "authors".

Which one you mean?

Yea I'm seeing some renewed discusion about author rewards and should they go, but in reality the rewards to authors are quite insignificant at the curent state of Hive. Around 1/3 of inflation is to authors, and half of that locked in HP. Aditionaly the votes for the stabilizer further reduce the author rewards for around 25% curently.

Furthermore there is a natural tendency from the community to vote on authors who keep their stake, so majority of what is left to authros goes to hodlers so to speak..

Id hardly say they need to go. Hive used to be far more creator focused when it comes to rewards distribution than it is now. Thats what created problems. I dont think we have those issues now. Eventually removal of author rewards might come with L2 smart contracts and if that takes off.

Before moving author rewards on L1, L2 coins need more liquidity.

I have some ideas for that.

Well, I didn't need to look on-chain to know that witnesses earn more than creators by a far margin, but I hope those that have been making the assumptions can see this now.

On every social media platform it is expected that the top creators earn most of the total rewards but it very much seems thats not the case here on Hive.

This sounds like a perfect reason to remove author rewards from HIVE... What you wrote is too good for us... 😃

Without author rewards, I can't see how HIVE distribution (and decentralization) can be better...

As long as even a little bit goes towards author rewards, a bigger number of people will have more Hive than they did the week before.
When it comes to overall control of the supply, that, i dont think will change much.

Yay, I made it too 🤘

!Pimp !DHEDGE

How far we have fallen. 😂

I like steak better than pizza.

Pizza is more versatile.

I've never seen pineapple on steak.

But here's a pineapple steak, in case you wonder.
pineapplesteak.png

lol

Now I'm starting to kinda want to have one of those
pineapplesteak3_edited.jpg

A white guy in a blue suit?

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Burn the Midnight Pineapple Oil,

pineapplesteak2.png

Steak on pizza perhaps

Whales becoming bigger while fishes stay as fishes more likely than not. The division only grows wider each day. I don’t think it benefits hive long term at this rate. Thanks for bringing these points up.

Biggest stake holders will be the biggest earners. Should an author be able to get to whalehood via author rewards? Would that be fair to investors?

Yes and yes. Content creators bring in value with great content that are voted by whales. In turn whales benefit in increased value of their stake with the increased valued content. Furthermore it’s not easy to consistently earn large rewards for authors as it’s difficult to maintain producing consistent good content. Meanwhile stakers have it easier with upvoting content daily. The stakers in turn can continue growing with curation rewards making them much more influence on the platform. The rewards distribution just seems unfair at 50/50. Note I don’t think all whales on the platform is bad. I’m just saying the distribution of rewards is skewed too far to the ones who have the most. Then again such as so in real life. !LOL

If you arrest a mime...
Do you have to tell them they have the right to remain silent?

Credit: marshmellowman
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Sorry mate, with the exception of 2 or 3 there are no investors on Hive 🤪
It was all about an airdrop. Hive investors is an urban myth lol

There are investors, look at @lazy-panda.
Also myself, I swapped BTC for Hive and staked them as HP. There are many others. Otherwise the price would have collapsed already.

"...with the exception of 2 or 3" ;)

Wer all investors. :)

Nah. And you know what, I would love to see a big investor come to Hive.
Can you imagine some big fat guys with the pistols pointed and ready to shoot just for fear of losing the virtual power they have over others?
It would be beautiful and epic 😎

1


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I hope I get on this list someday
I’m tryna increase my stake

love looking at stats like this