As an investor , a member of Steemitabuse-classic and as an active curator, I have personally encountered multiple issues aswell as talked with many members that share the same concerns about undervalued authors and whalebot followed authors that seem to trend daily.
What Is The RobinHood Whale ?
The RobinHood whale is a community backed account that upvotes 10-20 quality posts of different authors daily with a 10 day grace period between same author upvoting. No single author can be upvoted more than once during the 10 day period, leaving room for other great authors that have had less exposure.
Who Will Choose The Authors/Posts ?
A private chat will be setup with a consensus of 51% or more (for a RobinHood upvote) with a minimum of 5 curators and a maximum of 11. All curators need to be well versed in detecting plagiarism for both image and text. They should be active daily and each have their own unique ways of digging through posts and finding hidden gems. They should be well known members of the community both active in steemit.chat and Steem.
How Can I Take Part?
All you have to do is power up the whale account. We will be giving out more details about the specific account for funding at a later date. For now you can follow the RHW here @robinhoodwhale
What's In It For Me?
Curation rewards will be gathered from upvoting author posts, these will be dispersed weekly from a power down and your % share will be allocated accordingly. There will be weekly accounting reports for transparency.
Who Will Control The Keys?
The active keys will be controlled by two members incase of health issues or long term leave by one member.
The curators will keep them in check in case of misbehaving or 3rd party risk (theft). Exchanges will be notified to lock any malicious transfers from said account or routed through other accounts.
The voting keys will be controlled by 6 curators , 2 for each 8hr shift so the Robinhood whale works 24/7.
If any of the voting key curators misbehaves they will both (same shift) be excluded from using the keys.
Pros of the RobinHood Whale
Many featured authors — 100-200 new authors featured per 10 day cycle
Proof of concept — shows newbies that the system works
Distribution of wealth — a whale vote will help spread the wealth easily
Retains good authors — retaining good authors who are otherwise not getting a vote
Curation rewards SP — additional income for investors
Create buy pressure - more supply locked in Vests
What do YOU think ?
Any Questions/Suggestions ?
All SD proceeds will be donated to the Robin Hood Whale Initiave
Will @blocktrades, @dantheman, @ned, @steemit like to support this initiative? This will help the community by leaps and bounds! :)
@smooth @berniesanders A larger framework can be built based on this idea and this can be run like a startup within the eco-system of Steemit. A proper legal entity can be established to safe guard interests etc.
@firepower
There is a general problem with the distribution both for reputation and rewards. Much like there is an inverse distribution after the 15-30min timeframe, a similar algorithm should stop people from accumulating too many rewards.
People chase whales wihout even reading the content. Many people are getting discouraged when they witness such unfair treatment. Is really an article worth thousands while another pennies?
Unless there is a solution for closing the gap of reward disribution, not many people are going to stick around. Steemit can end up being filled with trashy posts and greedy bots. Mass adoption requires mass distribution. Otherwise the gut instict of any newcomer will scream ponzi
I somehow missed replying to this. You make a good point! We're a long way from getting there and hoping some of the current issues will be resolved when we get there.
:)
I hope so @firepower
I really hope so !!!
Your comment here received no reply or upvote from any of them, so I guess you got an answer :-)
Frankly getting an upvote here doesn't matter. They're all clued in on what's being done. :)
I hope it is like you say :-)
Is there a list of cons? Would be better to add in for your readers' consideration :) (I can't assess weaknesses/attacks all that well)
If people come up with cons, I can add them into the post and maybe others can find possible solutions. Win-Win IMO
@repholder the biggest problem with this initiative is that the ranking algorithm will nix a post if too many low rep accounts upvote a post. Check out what happened to @trogdor when someone used a swarm to actually maliciously upvote him.
The robinhood whale initiative doesnt work like that.
Upcoming fork will fix the issues and the point being for RHW is to make a high powered account.
This is undoubtedly a great idea but I also have a few suggestions:
However, the idea to fund the whale difficult realizable.
If 5000 people donate at least 10 STEEM, it will be just 50,000 SP, which does not suffice to be a whale (maximum dolphin)
Thank you
The group is already available :
From @smooth
These are the people that Im leaning towards being curators if this takes off.
They all are independent people and devoted to the community (I personal know them)
It is certainly a major breakthrough and a great working arrangement but it's a little not that that I proposed. People will not always be viewed on the contents author, they can just upvote and comment on, though for beginners it's not a bad option. It would be nice if the authors were advertised immediately. In general, it would be nice to have all the whales such personal command, and add your offer with the rotation, and will be fine))
And here is the first problem - plagiarism in the promoted content
https://steemit.com/photography/@gavvet/my-trip-to-the-top-of-mount-elbrus-mans-celojums-uz-virsotne-elbruss-featuring-tericano-as-author
this is a great !
I just found this post today. As a small dolphin, I find it hard to get the recognition for my posts. I would like to support this initiative.
This is a great idea. Here we go!
Thanks Ben, let's see how it goes.
This is a great idea! Something of this nature is the absolute need of the hour. I am glad someone is taking the steps necessary.
I totally support this and can't wait what this will lead to. Hope it's a success!
Hopefully the account gets the funds it deserves. A whale account with that concept would benefit the community massively. Great idea!
If everyone chips in I think we can do great things.
I think this is an interesting initiative that I'll keep an eye on!
Thanks Jamtaylor, I'll keep you updated.
I do like it! Consider my help!
This is a great idea, one which really tackles that problem that puts of so many newbies when they see their quality parts earning three or worse zero cents.
I would be more than happy to be a part of this
Thank you meesterboom. Sadly it seems this post didn't get enough traction.
That's a shame, still it might in future. I defo think it's worthwhile punting this up again
Anyway I'm ready to join! :)
I definetely will keep an eye on this. Thanks
The real question is: who will be ready to invest in this, and will it gather enough SP to make a difference?
Anyone that is invested in the platform and wants to see further growth by organically retaining more and more authors.
I guess we will have to wait and see.
It is an interesting approach to the issues that are occurring on Steemit.
Об чом тут написано?
This is a good idea. I think the question is will there be enough SP to make it work.
Only way to know is to try :)
This is a fantastic idea @repholder! At this immediate moment, having just read and briefly processing, I can't think of any cons. It does seem to me like it would work for the benefit of the entire community, it's perception and growth going forward. I'm looking forward to supporting its development. Nice!
Great idea!
Thank you btotherest!
do you have any rep for sale?
As per my nickname Im a REP Hodler - Not 4 Sale ;)
I cant believe you had this idea. it's brilliant!
Thank you cristi. Keep up the great writing :)
I am very excited about this project. I have upvoted this and featured it on my hidden gems blog. I think everyone who is a minnow has been secretly hoping for something like this to give them another way of receiving recognition. I am following your blog to learn more and would be interested in helping to power it up. Great idea and I am looking forward to what's coming.
Thank you lpfaust.
I love this idea.
But why limit it to 20 per day when you can do up to 100 before the rewards are diluted?
Great question! You need to keep the voting power high to maximize reward. The 10-20 could increase, really depends how evenly the votes could be spread out. Generally, you would want to see above 90% on voting power. Since you cant control when a great post will come in, the 10-20 would be a good base to start.
I support the Robin Hood Whale. :).
I dig this idea @repholder, part of the problem as you can see from this post -143 votes $3.68 payout =eish
I would love to support this initiative because some of us really need more recognition
Wicked idea :-)
There are dozens of us who sometimes spend whole day writing valuable and interesting content and get no recognition. Can't wait for it to start.
Although by looking at little upvote you receieved from whales on this post, it appears to me that they may not be very keen to do it (share their precious votes)
I am interested in this initiative.
This is great initiative. Really shows that there are people who actually care about community and good content.
This post has been linked to from another place on Steem.
Real-Time Update of RobinHood Whale Project 罗宾鲸火贴实时更新 01-09 by @laonie
Steemdrive: First Steemit Billboard to hit USA in Chicago, Illinois - Vote for the “American Dream"! by @steemdrive
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@repholder, could you update this with a detailed plan with numbers? Specifically, how much SP would be needed to get this started?
Also, would you be able to update it regularly to keep track of how much support it has at any one time?
Besides those details, I love the overall idea!
Cool idea
The whale account should also fight plagiarism
I thought about that one but wanted to keep it simple for the time being.
@condra We should have something else lined up for this soon. :)
Aye. Anyx is kicking ass as usual :)
I know this is not plagiarism... but dude....
https://steemit.com/steem-ideas/@beanz/give-steem-ideas-your-love
Come up with your own ideas!