Thanks @steevc. I appreciate your comment, you are right.
My intention with this post is to fill a hole in the system: Detailed documentation of how it works.
I think it's unacceptable that if you want to know how it works in detail you not only have to be a software developer but also take the time and be patient to read the code, which is very difficult from the beginning.
In physics you have a lot of books explaining everything in detail. Then you can write a book without formulas to reach many more people. But here in steem is the contrary.
For future readers, these posts can also be useful to get a description of the general idea:
- Improving the economics of steem. Community proposal by @steemitblog. Description and motivation explained from the developers.
- What Will Likely Happen When Steem's EIP Is Put Into Motion? by @kevinwong. Expectations with HF21.
- Reward curve deep dive by @vandeberg. More details and motivation with respect to the curve introduced in HF21 explained by the senior blockchain developer at steemit inc.
- The fork and the bunny by @dustbunny. Simple explanation about the new curve.
- Secondary effects by @eonwarped. Discussion about changes in HF21.
Unfortunately a lot of the explanations of how Steem works are too technical for the average person. I appreciate what you are doing, but I hope others can give a simpler version. I'm a developer and a lot of it goes over my head. We just want to know how it affects us.
I don't care if I am one of the three - this level of knowledge is necessary as I have zero faith in the words that are used to promote changes that are deeply mathematical and that may well need different words to truly explain them.
"My intention with this post is to fill a hole in the system: Detailed documentation of how it works."
Absolutely and thank you! We need to know the maths, not just the BS. I wrote on this too but was less than positive.
The next level above the encoded mathematics is how it will play out as game theory :-)
The curation curve is a joy of instability! I'll read your part 2.