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RE: Why I Advise Against Linear Reward

in #steem6 years ago (edited)

It's still okay to post a lot and self-vote a lot under the proposed changed in economic incentives (not sure if OP agrees to all the items in the proposal). It'd just no longer the most efficient move for rewards most users. There'll be outliers of course, but I'll address that later.

Better not to mix up what's best for every individual and new user on the network with what's best for the platform, Steem. The latter should be as equally as important as the former. There's too much of a huge cost involved in linear atm, and it's not like linear has any shades like how we can define mild, medium, and extremely superlinear. Linear is just linear. It provides a different economical modality compared to superlinear.

Linear gives everyone efficiently priced votes, an immediately exploitable feature for anyone to undercut Steem's economy (attention, marketprice) anytime and without risk of overwhelming objections. It can be observed, experienced, and they even check out economically.

Linear creates a perpetually disarrayed attention economy and a discounted pool of Steem, which actually goes against the best long-term interest of stakeholders. We've also learned that n2 is too much so we should go for a softer measure. At least superlinear has different shades, unlike linear.

This is why some of us have proposed somewhere in between linear, n and n2. We just need most of the benefits of superlinear at low-cost, which is why some of us have chosen n1.3 as a ballpark figure. The other two proposal items like 50% curation rewards and a 10% separate downvote pool to plug most of the potential leaks and outliers, but I'll leave everyone to refer to @trafalgar's recent post on it for more info. It's a shame if we were only just supposed to flatten out n2 for its extreme effect, but instead of going to n1.x, we end up with linear (n1) simply because it's way easier to implement? There's a fundamental difference between linear and superlinear.

Thanks for the post @teamsteem, I wish more would look into the economical significance between linear vs superlinear, and why we should move away from what we have today. After the proposed changes, I know I would no longer heavily upvote my dog, cat, cousins, and friends who are generally not very good content creators, unless they improve and become more competitive over time. At least I know the proposed "new economy" isn't going to be actively discouraging stakeholders from rewarding great contributions.

Let's not get muddled up in our need to reward all of our activities on the network. Rewards and activities are separate. We can still post all day and night and vote ourselves, it's just not immediately the most efficient move for rewards anymore under the proposed changes. Instead, curation will be on the same level, if not better. Maybe I like to post a lot, it doesn't mean that I'd want to vote on my own stuff all the time if the economy doesn't encourage it (not as profitable to do so unless other curators really like my stuff). Curation is where it's at. That's what SP is all about.

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I wish more would look into the economical significance between linear vs superlinear, and why we should move away from what we have today.

I fully agree. I wish more people would have joined the discussion.