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smooth
@smooth
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2016-03-25 13:36
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smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
At this point the opportunity cost of it taking 13 weeks (6.5 weeks average) to power down isn't very high.
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smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
The vote selling economy on steem is not a valuable niche I'm quite sure you misunderstood my intent here. I meant valuable in the sense that people can make money doing it. I didn't mean valuable in the
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smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
No, powering up also lets you vote on content and earn curation rewards as well as vote for witnesses.
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
The vesting interest doesn't do nothing. It allocates more of the costs of 'real' inflation (i.e. the other categories) to non-powered-up investors. We could agree or disagree on whether that it is a good
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
what are the specific, measurable, and timely goalposts by which we can judge whether the EIP has performed @trafalgar is probably the best one to answer this or perhaps he can point to some existing posts
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
As discussed elsewhere it has the effect of allocating the other (real) inflation between powered-up and non-powered-up investors such that powered up investors pay a bit less and non-powered up investors
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
Redirecting from SP interest ends up increasing overall effective inflation. In reality, the only effect of SP interest is to allocate the other inflation costs between powered-up and non-powered-up investors.
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
Just run a little simulation with a few weeks of old data That method is completely invalid since the entire purpose is to change behavior.
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
However for most users the chances of a large account coming along and upvoting their post will remain small, even if the shift in incentives does change behaviour There is more to it than that. An enormous
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
and using the liquid proceeds for social interaction and engagement That's okay. People sending tips or subscribing for premium benefits or boosting each others content or whatever (as well as earning
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
The RC situation will likely improve somewhat once this is implemented because farming via small comment rewards (some of which already does happen now) will likely stop. I don't know if it will make a
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
The dust threshold has more to do with added processing costs at the blockchain level than anything else. Every payout is a significantly expensive operation in terms of resources so there is a reasonable
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
Downvotes are still unincentivized and rely on altruism and volunteer work for effort. It is important not to allow that to be attacked by ramping up the necessary effort. Keeping rewards concentrated
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
it would have been great if this same reasoning wasn't summarily dismissed by Ned/STINC back in 2017 Lots of things would be great in the past. Can we deal with the present now? I am in favor of
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
Circular vs. self-voting isn't the point at all. The point is solely that everything is visible so it can be downvoted if the content itself (or at least the story surrounding it) doesn't justify the reward.
smooth
steem
7y
RE: HF21: SPS and EIP Explained
The question is how will we track and measure how much value a funded project is provided? There are blockchain history elements generated for all payouts, just as there are for content payouts today.
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
We need to fix the economics so this isn't viable. As long as it is viable, someone will do it.
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
I'm not involved with any bid bot, but I don't think it really matters if others are. I'm more interested in the overall economics and how it functions at a system-wide level than in who happens to be
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
That sort of simulation is entirely worthless because it doesn't account for changing behavior, which is the entire point of it. Downvotes absolutely should hit the author (as well as the other curators,
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
delegation, linear rewards curve, and 10-vote daily target protocols None of these actually matter much, they just shift around the methods that milkers will use but with automation, vote selling,
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