This model, in practice, and I proved it already in practice: keeping some stake to reward your community (consumer base, call it whatever labels don't matter) is a good idea. It's an incentive for them to be here, viewing, and engaging. In a "perfect" world, that's on top of what your community is busy rewarding one another. However, due to lack of consumers, we never see thousands of upvotes on comments under posts. Yet that's what I envision.
I disagree about the reward pool. I think it's a great tool. However, much like a knife, it cuts better if you use the sharp side. Current approach, neglecting the role of the consumer, is using the dull side.
Consumers don't want to "curate". This is commonsense. They just want to support what they like. That approach isn't being used here. Works great everywhere else though. Take a show like Why Files on Youtube. Watch him roll the credits at the end of the show. OMG
I agree, by curate I mean voting on posts/comments.
I don't think we are disagreeing here, I just see the current approach to reward pool as the problem. And if we don't change that approach, it will persists as a problem.
My thinking is that, current approach puts an undue burden on the consumers who is putting money on to the chain because creators are outnumbering them in cashing out from the chain. There are creators that have earned vastly more from the reward pool, yet they have less stake then I do. They do not want to be stakeholders, they do not want to share the burden of the community.
In supporting creators on other platforms, I know the cost to me. In patreon, I know how much that is going to that creator at my expense. Because I give that expense knowingly. On something like youtube the expense is me seeing an ad, but I still know the expense and I know that expense is going towards the creator I like.
On here though, someone could continue to support a creator that does not want to share the burden of the community at the expense of other consumers and even other creators. And current approach to reward pool just not only does that, but also give creators an opportunity cash out half of their earnings immediately while no such opportunity is given to the consumer. Exacerbating the problem even more.
I've watched several reward pools dry themselves up. When the content is the consumer, yes, you run into problems.
Create a product. Ignore the product. Ask people to buy token because token.
Enacting change here is, not easy. I know writing up a game plan is a fool's errand.
Would you be shocked to learn about 7 or 8 years ago I wrote up an internal advertising method, designed to bring money in the door?
Great idea. Got nowhere.
I was not around back then, but I wouldn't be shocked if that was the case.
Just an ad market. It's a long story...*
Only a small fraction of redditors actually upvote stuff on reddit for instance, so you're quite right there that consumers usually don't wanna curate - unless it's on their own posts/engagement they're participating in, especially when their actions are public compared to reddit's database.
I've always likened this platform to Youtube. Though I wasn't creating video, the basics were still there. The main source of entertainment at the top, then the comment section. And using Why Files again as example (because that dude has this world figured out), his community or viewers are incredibly active. Thousands of likes in the comment section. Dude kicks back and livestreams commentary to his viewers: chat is jammed, tips pouring in. Patreon on the side. Sponsors. Incredible. The ad revenue gave him grief so the people stepped up.
Never used reddit as a comparison. Mainly because the only time I used that site was after asking search a question, then finding the answer there. A few seconds, then I'm out the door. I don't know much about the culture there. And these days I let AI visit the sites for me and come back with the answers. Usually happy with the results.
The Youtube model won't suffer those losses AI creates, for the foreseeable future anyway. By design, consumers are locked in. Tough to pull off in writing, but not for everyone, and much simpler when you throw in some art. And maybe, just maybe, at some point, video will dominate here anyway. And there's nothing wrong with having everything in one place. It's actually better. Consumers love variety.
lol why am I even talking about this stuff again? Drives me nuts but I can't get that vision out of my head. Every time I come back it feels like it's getting one tiny step closer...