Linear rewards.
The steem white paper spells out exactly why we needed quadratic and what would happen if we went linear; and it could not have been more accurate.
Linear rewards.
The steem white paper spells out exactly why we needed quadratic and what would happen if we went linear; and it could not have been more accurate.
I guess i had to jump in on this... Quadratic rewards would have made the original reward pool raping far..... far worse than it is now. if not for the linear rewards, people dont have a chance at having a share at the rewards pool because it would have all been taken away by the silent whale.
Now im not saying that anyone should have any rights on the rewards pool, no one is entitled to anything here but i would imagine the whole rewardpoolrape drama would have much more devastating effect on user adoption had HF19 Linear Reward not been implemented. Imagine a new user coming in and seeing short TA posts making tens of thousands a piece and everyone else gets virtually nothing. It would have been tens of thousands in rewards PER POST had it not been LR. whats happening now might be subjectively unfair but had it been quadratic rewards even i will say its objectively unfair.
In the end of the day it boils down to human nature. No amount of engineering and maths can solve away human nature. which historically had been the one thing that ruins everything for everyone.
Steem is ultimately still an experiment and it will continue to change and improve. Im not saying "get it while the going's good" but im pretty sure this whole thing might simmer down in the future as things balance out. I dont know what you think about him but i think @yallapapi hit it in the nail with whats happening with the whole drama
You know much more than I regarding rewards algorithms I'm guessing, but it's the point above that is just as important.
Thanks for stopping by!
actually i dont know too much of the technicals as well. Although we dont need technical prowess to recognize that alot of problems on the platform we see are human factors that will never be stamped out unless things goes fascist. Even so i rather be a part of a decentralized social/content platform than one controlled by a single entity. For that, i have nothing to complain about.
I disagree entirely, and remember before hf20. No bidbots. High quality posts. Very little self-upvoting.
Then it happened. I saw people rejoicing that their upvote had jumped from x to y, and they could finally support their friends.
Now, all I hear is how unfair it is that everyone only supports their friends.
I discussed this in detail - here
TLDR; quadratic rewards means the bigger a live payout, the more influence you have over it's movement, up OR down.
Your current, 50c vote would be worth 5c if you're upvoting a mate's low quality post, or $5 if you're downvoting some bidbotty spam at the top of the trending page, which is what people did; so much so, that people didn't even try voting crap up into Trending (they knew it'd be dragged straight back down by people who saw it as rubbish, and wanted to return those rewards to the pool)
Now, everyone knows their vote is worth 50c, and they take the rational approach.
Instead of downvoting rubbish, they just upvote themselves or their friends.
I hope you agree with me that quality is subjective, otherwise it's hard to continue our discussion.
We had other problems before HF19 too. Unbudging trending page, minnows making next to nothing unless whalevote.
of all my time prior to HF19, i never seen the possibility of a minnow gaining the limelight despite making Youtuber quality content. Minnow's only shot at making was either rubbing a whale belly or getting noticed by Curie.
It'll never be perfect i think. people will always complain no matter what and however steem is designed, there will always be ways to game it. Even so i'm steadfast in saying HF19 brings greater good than evil.
Yes, quality is subjective.
With SMTs on the way, and Dan building a competitor on EOS, not to mention any forks of either, I'm sure we'll get plenty of opportunity to see all sorts of different settings play out in reality.
For example, Ned appears to be making account level voting an option for SMT's and/or quadratic rewards.
Those who lean toward fairness (whatever that is) can launch an SMT with account voting and linear rewards, and those who lean toward quality can have stake weighted voting and quadratic rewards.
Then we can race our preferences against each other and you'll get to see how right I am ;p
Yep, the proof has certainly been in the pudding.
We don't all have to be dicks though eh? :)
hahahaha nicely said!