As you may have noticed, the reward pool of Steem has sunk below 700,000 Steem, and the trend seems to continue.
Some of it may be attributed to more quality content posted on the blockchain, but a lot of it seems to be a part of aggressive selfvoting, or using proxy accounts for it.
I believe that the Steemit community should be more active in balancing rewards for posts, and declining payouts for substanceless comments.
One way to do that, is to seperate the upvoting power, from the downvoting power. Either by dedicating 10% of everyones voting power specifically to downvotes, or adding 10% on current voting power for that purpose. On second thought it doesn't matter, because if everyone have less 10% voting power - no one does.
Also because the flagging bar should be equivalent of 10% of voting power, it should decrease at a x10 rate, in other words one 100% vote when flagging power is at 100% will subtract 20% (equivalent to the 2% drop in 100% votes while at 100% voting power), second 100% vote will subtract 20% from 60%, bringing flagging power down to 48% and so on.
Flagging power should also replenish at 20% per day rate, identically to voting power recharge rate.
People shouldn't be penelized for making justice to abusers, their rewards (mostly in curation) shouldn't be decreased because they flagged some inconsiderate whale (or dolphin or any other rewardpoolrapist).
Reward pool as of time of editting sits on 701K Steem, still way below 720K it was a few weeks ago, and slightly above 699K it was before writing this post. Taken from steemd.com
Steem's reward pool should hold steady, so it can continuously reward content creators.
If selfvoters will continue to drain it, they will slowly kill the incentive to invest time on Steemit (and dapps), and once the rewards go low enough, the whole blockchain will become a ghost town, .
If you know someone who can code such a thing, please tag them here, because I don't know how low the reward pool can go, without driving everyone the hell out of here.
Also a nice bonus is big holders won't be able to use 100% of their SP to flag people, so it will allow a wider consensus to emerge around what should be flagged and what shouldn't, bringing Steem closer to a democracy and farther from a plutocracy
Posted on Utopian.io - Rewarding Open Source Contributors
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Please provide pictures to elaborate your suggestions... Also please change your repo to "steemit condenser".
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[utopian-moderator]
I've added a few relevant pictures, elaborated more on how the flagging power bar should behave, and further explained the benefits of this approach like limiting the power of high SP holders, making it easier for a large amount of small holders to take part in setting the norms of flagging.
And changed the repository to steemit condenser like you asked.
@manishmike10
thanks for upvote my COHIBAS , follow you
Truly agree. As this would be very demotivating to the real contributors who work hard kn each articles submitted in steemit. Keep up the great work guys
I like the solution to have part of the voting power only for downvoting, this shoud also earn curation rewards. This would work 2 ways, less moneny is taken from it and more is being put back.
The 9% extra being created each year in the long run won't be sustainable though. I'm not sure what the exact plans are for the future, but this should systematically go down over time.
I'm really looking forward to see what the future will bring for Steem.
Why would downvoting someone earn curation rewards?
The whole point is to enrich the reward pool, not to further drain it.
Because the total sum would be positive and more will go back to the reward pool.
Right now for as far as I understand, there is no incentive to actually downvote anything while there is an incentive to upvote.
Hmm... I suppose that if you have pending curation rewards a bigger reward will increase them
Thank for this post! I do find this to be issue that something should be with. It's great to read that someone has some actual solution suggestions. :)
Interesting solution... I make extensive use of downvote to flag spammers. I think it's better to propose it in some discord channel but for now i RESTEEMED this post.
Hmm... which discord channels would you like me to share it in?
I think that one of the best is P.A.L. (peace, abundancy, liberty) here:
https://discordapp.com/invite/HYj4yvw
or Utopian channel (thanks for helping me to found this @techslut) :
https://discord.gg/uWqcAGp
Does it make sense that flagging is a money thing at all? What if we had dislike buttons... and only many dislikes could downvote visibility?
The problem with that is people could rake an insane amount of rewards for some inexplicable content, and by the time people will flag it, the reward pool has already been drained.
hmm... and what if the number of "dislikes" decreases the reputation score and the reward system includes this reputation score somehow? It is not easy to figure out how to set up an algorithm that spreads "justice" or "content quality" over all. But somehow I don
t like the idea of battles of downvoting. Also I dont understand the concept of allowing selfvoting... I do it because I am poor and as part of the rules it is allowed, but I think this feature is only useful to make the rich even richer... it takes away parts of the reward pool without any relation to content-quality...This is actually really smart! Right now downvoting gives the voter nothing return and also robs the voter from possible curation and rewards through upvoting.
While I believe that giving rewards for downvotes would be wrong - I do think that adding extra voting power for downvotes would be very interesting and maybe useful.
Nice analysis ! Agree with your view my friend !!
Yess yesss.. many a times i stopped my hand from downvoting a spammer just because i thought i will lose my VP over it and that could be used as an upvote to a deserving post or comment..
great share...hope have a positive community
Thank you for the contribution. It has been approved.
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[utopian-moderator]
Thank for this post! That's a good idea
Its discouraging when I browse the steemit and see short comments upvoted more than the whole posts where creator spent hours to write it or weeks to create artwork to have the subject of post, while others take photo from internet and upvote them with bots to trending page and reduce chances of others work to be seen at all. I also seen that big accounts give themself more upvote for their own comment than for the post they visited. Its really hard for new user with good intentions to play this rigged game. Too many things needs to be improved here but human greet will break them again.
Awesome post bro i am visiting yyour profile everyday
how did you win so much sbd?
resteemit
Wow is good to see this post, love that, 700.000 steem is to much, master steemit. Good job
@imacryptorick
Nice shares! Positive community, I am impressed by your work. Keep it up. Best wishes.
up-vote.
Thanks imacryptorick. I always feel smarter after reading your posts. Please keep sharing your thoughts. interesting post
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STOPI miss your posts dear hope you are well waiting for new posts from you
Good post bro i am very atttacted with your post keep it up
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STOPwoah ! i didn't knew that
will keep in mind now :)https://steemit.com/antiques/@tjunaidi/ancient-jars-of-ancient-penigalan-and-meriam-696c7499c69bc