Steemit.com is a highly innovative block-chain SNS platform.
However, there is still a shortage because it is still an unfinished beta version.
This shortage is a complaint of early adopters, and is often a factor making users to leave steemit.com.
Is there any way to prevent users from leaving steemit.com?
To do that, you have to figure out the problem.
The steemit.com user group is divided into four groups.
The first is those who have been involved with steemit.com since its launch and have a large stake in steemit.com. These are called whales.
The second is those who see the possibility of steemit.com, buy steem on the market, collect steem through writing, power it up, and have a lot of steem power. They are called dolphins.
The third is that people who have heard steem story somewhere and joined but have not got much steem power, so they can hardly get the voting reward even if they make a vote.
The fourth is investors who have invested to make money and have no interest in complicated rules of steem. They hold steem as flowing steem, not steem power.
As you can see, the current steemit.com has a structure that is not completely satisfactory for any of the four classes.
I think the first problem with steem is that people who have steem power can not predict how effective their votings will be. Perhaps all steemPower owners want to know how much they reward the author once they have done their voting. But currently there is not a definite way to calculate.
The second problem is that people who are new to steemit.com think that writing compensation will be given in proportion to the number of votings. And this is a fairly reasonable idea. However, steemit.com's writing compensation is not necessarily proportional to the number of recommendations. So, to understand this, you have to explain it using very difficult mathematics, and most of the time they don't understand and you also don't fully understand, even if you explain it. So, most of the early users say, "This system is like a #%$#." And then he leaves steemit.com and does not come back.
The situation is that the price of steem does not rise compared to the other coins, and naturally traders are also dissatisfied or do not return.
I think the weak points of steem are as follows. The high rate of inflation was not a problem, and the high share of whales was not a problem either. The problem is that voting rights are not given in direct proportion to the steem power and one voting does not exercise the same rewards. The voting of a person with a lot of steem power provides more reward. This is intuitively unreasonable, irrespective of what the truth is. It is intuitively understandable that a person with a lot of steem power has more voting rights, but it is hard to understand that while doing the same act of voting, the voting with more steem power is more valuable. I recognize the economic power of people who have a lot of steem power, but it is hard to understand that they have a better view of the article because they have more steem power. Wisdom can not be proportional to the person's economic power. Regardless of whether the steem power is high or low, one recommendation, voting should have the same value. And voting rights should be exercised differently depending on the amount of steem. This is because the voting and voting rights are very important to share the profits from the steem block chain. It is natural that whales have more stakes in steem than dolphins and therefore have more profit sharing rights.
In order to solve the problem of steem above, I propose the following.
"Let's give voting right on writing in proportion to steem power"
The steem power of a certain person divided by steem_per_m vests (for now 479.248 STEEM) corresponds to the maximum possible number of voting per day. At this time, if the owner of a steem power of 479.248 or less based on the current time of writing, by discarding the decimal point, it can induce the participant to engage in writing actively by reserving the right of voting until the steem power reaches 479.248 steem power. also it is possible to block the activity of the steem bots which can be pointless.
This will increase demand for steem power.
For example, a user with 500 steem power can vote one time a day and a user with 400 steem power can not vote because the right to recommend is still reserved. If you have 10,000 steem power, you will be able to make 20 recommnedations a day.
At present, total_vesting_shares is 439,294 M VESTS, so the voting daily total is 439,294.
"Let's pay writing reward in direct proportion to recommendation frequency"
This is a very important part. Most of the current steemit.com issues are that the compensation is felt unfair. And this part is hard to explain. In the image above, @klye received 237 recommendations and @barrydupton received 146 recommendations. Who needs more reward? Of course, most people answer @klye, but at steemit.com @barrydupton received more reward. And this happens often at steemit.com. Reward at steemit.com is an evaluation of the value of the article. but a recommendation by @ned alone is more rewarding than a recommendation by 100 people with a steam power of less than 1,000. Who can agree on this? Although @ned has more stake, we can admit that he has more voting rights, but it is arrogant that his recommendation itself is more valuable than the other's recommendation.
Currently, the total_reward_fund_steem of steemit.com is 50,149,539 STEEM. Of these, 37,612 STEEMs, 75% of which are authors' reward. Therefore, assuming that all votings are being exercised, one voting will have a value of 0.0856 steem. There are a number of recommendations that do not actually exercise the voting rights. Thus, exercising a voting right once is worth much more than this. In addition, 10% of the reward will be received by the recommender, so the recommender will be rewarded with 0.0114 STEEM by recommending once.
What can we get if we do this?
(1) Recommenders will be able to make recommendations to articles that they think are good. Now, I would recommend it to other people's favorite article rather than my favorite article. This is because you can get more voting rewards. This will naturally make it easier for new authors to enter the market. Because there is no reason to recommend to famous authors.
(2) Demand for steem power will increase.
(3) Users will feel that the rewards of steemit.com are fair, which will contribute to increased membership.
(4) Writers do not need to worry about getting a whale or dolphin's liking.
If you have only the voting rights, you will have the same value of someone's recommendation. Naturally, articles from various fields and perspectives come up.
(5) steemit.com is easy to understand and simple to operate from the user's point of view. And simplicity makes it possible for anyone to explain everything to others.
I may have errors in my thoughts, and if there are any mistakes, I would be grateful if you commented on it.
(This posting was originally written in Korean by @leesunmoo (https://steemit.com/kr/@leesunmoo/6r1hns) and translated by @arama. If you like this posting, you can also vote the original article:) )
Thanks for sharing steem problems & solutions
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@arama This is the real problem .
I am new here and it is way too difficult for me to understand the rules and procedures of Steemit and the reward system.
This post really helped me understand a lot about it now..
Thank you soo much for this informative post.
You might wanna have a look at my posts.
Do share your Views
upvote for upvote
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and comment for comment.
Let me follow you, and follow me too
Wow.........! a very genius thought, thanks have shared
it's amazing i love this post.. Thanks for sharing.
WEll written ! WE need a re balance and fairness for all users
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Thanks your good article!
Thank you for sharing information with us, excellent work, I would like to be great as you and I am working on it, follow me and I follow you
Interesting post, I just read it. Because I am newbie, I will try to understand it more. Tks already shared
Very good post, I like you very much, I follow you
thans for this post its worked really.. @arama
The Steemit ecosystem is very complicated and will never be perfect for everyone.
I appreciate very much that you are exploring the depths of this platform as we all need to ponder and discuss it more.
Thanks for the up vote, I found you here because of that. Hope to see you around soon and maybe begin a dialogue on how to improve our own lives and the lives of those on this planet earth!
I have been blogging for more than TEN years, no money. But now, I found I can earn a bit money from blogging on Steemit.com. I think it is fantastic.
@arama, thanks for your thoughts, I enjoyed your article, I think changes need to be made to the STEEM reward system too, if it going to continue to grow and scale, a lot of people join and then leave the platform, when they get rewards that are too small to warrant the effort. This is ashame, it would be good to have a better onboarding system for new users. Steem could be the dominant blogging platform in the future and might scale other applications which will take other functions away from the centralised platforms like Facebook, LinkedIn, Yourube etc, however if Steem as a decentralised platform is going to win the day, we are going to have to grow the size of the pie and make sure that everyone shares in the benefits, otherwise, someone will come along and create a better version of Steem that has a better rewards structure, EOS aid already talking about launching their own version of Steem in the future.
Hello my friend your posts are so nice and useful information thanks for shearing im pharmacy student and live in hungary and i made some post about my job and discovery of drug and about technology and about traveling thanks for support my friend and if you like please check my thankssssssss my friend i wish the best for you and your family @arama
Good thoughts, but not all true.
Big holders can split their shares into small accounts.
By setting a meaningful threshold, new users can't participate at all so most of them will leave.
I submitted another proposal here: https://github.com/steemit/steemit.com/issues/1004
Always appreciate your feedback and support @abit --- sincerely!
Exelente post, excellent platform steemit I am really excited and I have dedicated much of my time in trying to grow in this community, a vote may not cost you anything but for me it means a lot, you follow me I tell you.
I've been here for almost a year now, what is your opinion @arama, things got better? My concerns are why is Steemit.com delegating to so many spam accounts, even the initial stake of now 15SP for new members seems a waste when a lot of people try to take advantage of this by opening hundreds of accounts and do stuff with it to steal. Accounts need to be reviewed and in my opinion, all SP needs to be pulled away after a short period of time. If even delegated in the first place...
Im curious to know too. Im just now starting to figure out how the payouts work. i would like to know what other people think, especially since the bots are still kind of new, and the sbd value has risen. Steemit has so much potential but there are serious issues that need to be fixed in order for it to grow and retain users.
thanks for sharing these thoughts and suggestions on improvements hopefully some will be addressed in coming forks and bot activity reduced especially the # tag auto comment bots which i think bring no value to posts.
I would like to thank you for all the work your doing voting on quality Minnow posts lately its very time consuming to search through and not enough whales are voting these days in my opinion
Also thanks for voting on one of my posts when i was a new user,
it was a great help to me and without that i think i would have quit a long time ago.
You Rock :)
Hey thanks for your upvote, how come you don't post I'd love to help you out with upvote via whaleshares
thank you @arama
Thanks for support to my work
Have a Great Sunday
so agree with this bro..brilliant.
Thanks for the sharing! Totally agree with the problems.
You should blog more :). Cheers! Thanks for your support, appreciate it!
I think you are onto something. The reward payout structure is based on Zipf's law. Once people realize that they're basically worthless in a scenario of 80% of the people being the "short-tail", then they leave. This really is the CENTRAL problem that Steemit users continue to leave. That and the fighting over content wars. I think the content wars would evaporate if the whale's absurd amount of power over what trends would be abolished. It really is a centralization of power that needs to be addressed. If your ideas are refined, and worked out, I think good creators would be attracted to Steem. Zipf's law is the wrong model to follow when dealing with human emotions.
we will not convince people by giving them money. Our authors have to convince their readers, that this is good place to be.
Hey whats up! nice seein u round here! Just got a surprise upvote from @arama and wanted to come check through their old posts and Thank this Arama Entity :D I love you steem whales youre all so inspiring! These cryptocurrency rewards are always so inspiring!
If you have a minute, please look at my comments here in the thread Stella. I have had the same days on here, same issues, bumming me out a lot of the time, how odd is it like I said about @klye here earning less on a post than me, -- 95% of my days here like I was saying, I earn about 50¢ or $1 a day and I work super hard on a lot of my content.
Thanks for the Zipf's reference. I totally get the content wars, and even "content du jour". Stuff like TIL come and go. But they don't stick in any meaningful way. We may need to restructure how rewards are allocated. I think reputation is very important, so why not factor that into the reward?
if we think about it, true virality means more people like a particular post. If we factored in reputation as a determining factor for reward distibution, instead of SP power holders, this could make a difference. Having SP doesn't mean you're a good curator or someone who knows about social trends. The problem of sybil attacks could be solved by having reputation as a determining factor for rewards.
Exactly! Since it's based on vests right now, I wonder if reputation could be a factor of some sort. I assume its based on a 100 scale (maybe I am wrong). But that would be a good place to start.
Interesting idea, but we already went through this.
If votes were equal, people would game the system by making an army of bots to vote their stuff. One guy months ago had like 2000bots upvote his stuff but it only got him pennies.
Autovote bots by users with high Sp are the problem. It allows certain recievers to money grab, hensr the multiple posts per day that always recieve a nice payout.
Check the trending page, same users everyday sometimes multiple times.
The only people happy are the users able to money grab because lazy whales auto vote them everytime. And even those users making out nice are still greedy and complain about there false sense of creating "Timeless" cherished content worthy of kings..
Its just the same crap we all find in real life:
Everyone is mad
Simply because they believe they are worth more than the next. And some really get to believe it because they get paid no matter what.
@generation.easy 의견 감사합니다. 당신의 의견은 일정부분 논리적입니다.
그러나 1mvests 에 1 투표권이 주어진다면 고래들이 자동봇을 할거라는 우려는 타당하지 않다고 생각합니다.
왜냐하면 고래들은 steemit.com 의 성장을 바라는 이들이기 때문입니다. 그들은 자신들의 장기적 이익을 해지치 않을것입니다.
그리고 1일 10회 이상의 추천권을 행사하려면 50평판 이상이어야 한다는 조건을 추가한다면 자동봇 남용은 더욱 더 효율적으로 관리할수 있게 될것입니다.
(@ Generation.easy Thank you for your feedback. Your opinion is somewhat logical.
But if 1mvests is given one vote, I do not think the concern that whales will do automatic bots is justified.
Because whales are people who want to grow steemit.com. They will not overcome their long-term interests.
And if you add more than 50 reputations in order to exercise more than 10 referrals per day, you will be able to manage the automatic bot abuse more efficiently.)
What im understanding is your suggesting each vote can be only 1mvest and if you dont have that then you cant vote?
Thats a good thought i havent heard before, but i would have to contest that that method would create an investment heavy system...
Not sure if this would attract the everyday user, but its an idea that can be worked out
""The only happy are the users able to money grab because lazy whales auto vote them everytime. "" well said !! so true
wow nice article you have..i will give you my support and thumbs up of upvote..
Upvoted by @andravasko , upvoted community helps minnow steemit . explanation HERE !!!
Do not make my bunghole angry!... You have any holio?
Hello! I think you will enjoy my post. https://steemit.com/nature/@yetaras/winter-reflections-in-the-river-original-nature-photos
Let me follow you, I've seen your article and I really like your article, I think you are a great person ,, @arama
If you do not mind please see some of my articles ,, may be interested
Thank you brother @arama has supported steemians in the world, and I see you are very wise to use this blockchain steam, with your post this makes us directional, let alone the solution you are talking about.
once again thanks to brother @arama
Steem trend is up what you think!!
I will be happy if your hear your point of view
Thanks for sharing steem problems & solutions
Thanks also for your support
Followed just now
Have a great day
Nice Arama Sama good post
follback and vote @khabirulhafiz
Very good post..thanks for [email protected]
Interesting post, I just read it. Because I am newbie, I will try to understand it more.
how in love if there are Steemit users who died right? but Steemit is something really for us all not ...! from that I have no intention at all to leave the world of Steemit, even I really want to improve with my own ability.
Hi @arama, , Will you see my new post ??
Nice Post, Even in your post also, it has 190 votes and only 11$, this is not justified ratio ... :)
Thank you for your voice)
my mistake aim send u 500 sbd please upvote me or refund me
That's great! I am following you! Upvoted!
I am very interested in your post sir. And I always follow your next posting @arama 👏👏👏
After you explain it all I know more about steemit, it seems very easy to use this steemit program, let alone like me, the less fortunate, steemit becomes the solution for the less fortunate like me, and become a field for unemployed people around the world.
Please vote & follow my accounting
great post.. i follow u...can u follow me? @zaragast
Thank for the report, regards @arama
@arama thanks for you support
become one of your new friends, please hopefully even so. I feel more confident in every post, because the science that I get from a friend of Steemit's friends. thank you for sharing knowledge in the post as well as my post. @aemkar
Nice article to help me learn more about stremit
thanks for sharing the facts
it really helped