Curation is nonsense. It assumes that all frontends (100% controled and centralized) are going to order posts based on payout... because reasons.
The best way to "curate" is to simply scan the blockchain for the greater fools that are throwing away money and vote before they do. We still have no smart-contract that allows people to get paid via reblogging. The entire system is an embarrassment.
Meanwhile, issuing APR on a bank account is not nonsense. It makes perfect sense, and we can allocate quite a bit of inflation there. We are issuing 15% inflation to stakeholders, which translates to 2% APR. If that money was diverted to the bank accounts the APR would be way higher, because the multiplier (total stake / locked stake) would be much more in the favor of bank accounts than Hive Power.
@edicted/can-i-get-a-witness
I already did the math on this, and if that 15% inflation was applied to the bank accounts and the bank accounts only had 20M coins in them that would be an APR of 22%.
| Millions of Hive | APR |
|---|---|
| 5M | 89.0% |
| 10M | 44.5% |
| 15M | 29.7% |
| 20M | 22.3% |
| 25M | 17.8% |
| 30M | 14.8% |
| 35M | 12.7% |
| 40M | 11.1% |
| 45M | 9.9% |
| 50M | 8.9% |
| 55M | 8.1% |
| 60M | 7.4% |
| 65M | 6.8% |
| 70M | 6.3% |
| 75M | 5.9% |
| 80M | 5.6% |
| 90M | 4.9% |
| 100M | 4.5% |
We could take another 15% out of the reward pool and double these numbers and eliminate curation entirely. This would allow people looking for ROI to simply exit to the bank accounts.
RE: Proposal: reduce Hive inflation by reducing curation rewards