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RE: HF21: SPS and EIP Explained

in #steem5 years ago (edited)

It isn't true it comes solely from content creators.

Apart from the fact that literally all rewards come from investors who are paying them (via inflation), not from people who receive them, it comes from the reward pool which pays both authors and curators (stakeholders). The latter will absorb either a 25% share or a 50% share of the SPS budget depending on whether you based it on the existing split or the post-HF21 split.

But, again, all rewards are paid by investors. Shifting around who receives them does not change that.

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I think my point is quite clear. I am aware that it comes from both creators and curators.

To mince words semantically like this is merely disingenuous.

Edit, I don't mean that to sound as abrupt as it reads. I am trying to get my kids out to party :0)

Well forgive me but I do think think that it not shifting solely from creators/authors but also from curators is more than a semantic point.

Nevertheless turnabout being fair play, I do think the more important point in my reply is not about curators vs authors, but that in fact all rewards are coming from investors. Before the fork, all rewards come from investors, after the fork all rewards will still come from investors.

For investors to start spending some of that inflation budget via a proposal pool (where by the way, anyone is free to make proposals stating what they intend to do for Steem and how much they request to be paid to do it, even including for that matter, content creators) rather than continuing to spend all of it via the content pool is not changing where it comes from, it changes where (some of) it is going.

I doubt very much that there are too many investors happy with overall performance of Steem over the past few years, and the reward pool is the headline feature of Steem representing by far the largest portion of the inflation budget. If we aren't happy with how things are working, and many are understandably not, questioning whether it is doing its job, and then looking to spend some of that budget on other ways of adding value to Steem should hardly be viewed as radical.

When witness rewards were cut 80% a couple of years ago in order to focus the witness role on core blockchain maintenance and away from general project funding (with the 10% of inflation budget assigned in order to sufficiently fund that essential core blockchain role), that was done with the explanation that:

  1. Unlike other systems, Steem has a way of allocating general funding, the reward pool (and this has been and is being done to some extent).
  2. In order to allocate funding for specific projects or jobs in a more structured manner than the relative chaos of individual posts and votes, adding a worker system could, and probably should, be considered later.

Well it has taken over two years to get here, but now were are finally at the point of doing #2.

IMO it is a completely reasonable, and even pretty modest, adjustment to make at this point. After some further experience, we can reassess.