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smooth
@smooth
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2016-03-25 13:36
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smooth
steem
7y
RE: HF21: SPS and EIP Explained
That is not implemented (any of them) in the initial version of SPS for various reasons. It could be added later, including via a proposal to pay a developer to implement it. Some of it could be done offchain,
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smooth
steem
7y
RE: HF21: SPS and EIP Explained
Agree and disagree. Yes "most authors" purely counting numbers can't hurt the price because their earnings are tiny. But the reward pool in the aggregate is responsible for a large portion of
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smooth
steem
7y
RE: HF21: SPS and EIP Explained
He said relative market valuation and he's absolutely right. In the crypto market, which as a whole has indeed been in a bear market, Steem has dropped from top 10 to top 20 to now barely holding on in
smooth
steem
7y
RE: HF21: SPS and EIP Explained
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
smooth
steem
7y
RE: HF21: SPS and EIP Explained
1% would be a 10% reduction, and 2% would be a 20% reduction. Would these be catastrophic? Perhaps not, but when the current level of witness rewards were set (as part of a previous hard fork which already
smooth
steem
7y
RE: HF21: SPS and EIP Explained
That was exactly my thought in the original SPS discussion. Another alternative is that SPS proposals, if approved, can be paid directly out the same reward pool that currently pays posts and comments
smooth
steem
7y
RE: HF21: SPS and EIP Explained
Return proposal does that yes. A burn proposal is another alternative which permanently reduces inflation rather than making any payout or accumulating the funds for later.
smooth
normietalk
7y
RE: Normie Talk - HF21 Explained (SPS + EIP) What it is and what happens next
In this case A, B, and C did not behave exactly the same. If you think that literally everyone will downvote and/or get downvoted and/or retaliate and/or get retaliated against all in lockstep or that
smooth
steem
7y
RE: HF21: SPS and EIP Explained
I know that a basic web UI to view proposals and vote for them was completed along with the blockchain code but I do not know where that will be placed on steemit.com
smooth
steem
7y
RE: HF21: SPS and EIP Explained
That is certainly one way to look at it. And in addition to Steemit eventually slowing and/or stopping their selling, the baseline inflation declines by 1/2% per year. So yes, over time, the amount of
smooth
normietalk
7y
RE: Normie Talk - HF21 Explained (SPS + EIP) What it is and what happens next
Retaliation isn't all bad. Alice and Bob get into it with each other, and that means that Charlie walks away with the money. Maybe Charlie was actually doing something right by not being seen as
smooth
steem
7y
RE: HF21: SPS and EIP Explained
Nope, it doesn't, and in an ideal world we might just go right ahead and give 100% to authors. But in the real world we need a system with sound economics in order for authors to be rewarded at all and
smooth
steem
7y
RE: HF21: SPS and EIP Explained
Yes, there are two ways to vote "none of the above" in SPS. One is a return worker which returns the funding back to the SPS treasury to be used later and another is a burn worker which sends
smooth
steem
7y
RE: HF21: SPS and EIP Explained
Hell no. Author rewards (not all of inflation but the biggest single piece) are currently about 17 million STEEM per year and Steemit sells 9.6 million. Not all of author rewards are sold (nor other components
smooth
steem
7y
RE: HF21: SPS and EIP Explained
It goes back to the SPS pool, which is separate from the reward pool that pays posts/comments.
smooth
steem
7y
RE: Do content creators matter?
a creator could make some damn good money even with a 10% cut Exactly. People are far too fixated on percentages rather than amounts. Percentages don't matter one bit when Steem is FUBAR, the user base
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
What happens to the content is that hopefully some of it gets rewarded instead of having much of the reward pool milked out by stakeholders paying themselves, effectively draining rewards away from all
smooth
steem
7y
RE: HF21: SPS and EIP Explained
It is setting a threshold that any and all proposals need to meet to get funded. It is not voting against any particular proposal.
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
Steemit always intended their stake to be non-voting, in fact they implemented a feature into the blockchain code to enforce that. For various reasons the feature was never used, but the tradition of not
smooth
steemit
7y
RE: Steemit Update: HF21 Testnet, SPS, EIP, Rewards API, SMTs!
Basically people who use the system to generate interest on their stake rather than to reward value contributions. That can take various forms, and most involve some degree of self-voting or vote-selling,
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