Hard Fork 21 Reward Mechanics: The Main Good and Bad Things

in steemleo •  last year 

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I did a lot of thinking about Hard Fork 21 and its changes on the reward system.

For those of you who don't know, Hard Fork 21 will bring some changes to how rewards are distributed, and curators will now receive a lot more rewards, while authors will get less.

Initially, I was revolted... it just seemed bad throughout. Now that I've thought more about it, it still seems bad, but I can see good in it as well.

Overall, the main good thing and main bad - in my oppinion - can be easilly explained, and that's what I'm going to do throughout this post.

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Let's Start With the Good Thing: Less Spammy Posts... I guess!

Well, since authors will receive less and curators will receive more, I can see all those spammy accounts publishing less, leaving more room for quality content.

Usually, spam accounts are small in SP and Resource Credits, and therefore I can see them spending most of their RCs on voting and commenting on other posts. Even if they are a little bit bigger and have enough RCs to work normally, I can see them thinking rewards are too small to bother.

On the other hand, people say it stimulates curating, but that leads us to the bad thing.

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The Bad Thing: Vote Selling is More Profitable Than Ever

If you think about it, the increase in rewards goes to those who vote.... REGARDLESS of how the vote is cast.

Sure they can get a bit better rewards if they vote on "winning" posts, but if they are selling their votes then their votes will go towards people who buy votes, hence you'll get profits anyways.

Now, selling your vote you get ALL of the curation PLUS some of the value of your vote.

I antecipate that what will happen is whales just pull delegations out from the bots in order to have them in their name, and then vote sell.

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Let's Be Honest: Let's Face It

Do you really think those whales with thousands of Steem Power will start curating because of this? Do you think big steemians will start curating because of this?

The answer is people are lazy, and investors in steem, whales and orcas, even dolphins, heck even minnows are lazy!

If they can profit not only from the curation but also from the vote selling AND be able to lay back and relax.... don't you think they'll do it?

Sure, bid bots will die... the era of bid bots is over, the era of vote selling begins.

And that's my humble oppinion.

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If you think about it, the increase in rewards goes to those who vote.... REGARDLESS of how the vote is cast.

and thus it will have no effect at all on this:

Less Spammy Posts... I guess!

It is far to soon to see if it will kill bid bots, I myself do not think so. Here is what I see out of a bid bot person, first they vote on their post at 100% then they buy the votes. The era of the self vote is returning, we will see more of it because it has just become wildly profitable.

yes people will talk about the down votes, and that there will be more down votes on rewards, there will be but those down votes will come from down vote pools, down vote trails, down vote bots, people are going to put no more time into down voting than they do upvoting.

The answer is people are lazy, and investors in steem, whales and orcas, even dolphins, heck even minnows are lazy!

I do think it will cause a major dent on bid bots. ´

It starts paying way less to delegate than to keep the SP and sell votes. Big fish will undelegate and sell their votes, meaning bid bots will phase out and vote markets will prosper, in my oppinion.

Thanks for the comment Ba.

  ·  last year (edited)

Less Spammy Posts

That's what they said when they implemented RC too. They were right, but the side effects for the smaller accounts were huge!! HF21 will only make it even more difficult for a newcomer to survive, even if the quality of his content is outstanding.

Do you really think those whales with thousands of Steem Power will start curating because of this? Do you think big steemians will start curating because of this?

I think everybody knows they won't, except for the people who decided on this hard fork.

But that's not even the wort part. Giving out free downvotes to everyone is insane. I know I'm risking one by saying this (wouldn't be the 1st time), but I seldom see downvotes used for what they are supposed to be used: avoiding reward pool rape. Instead, they're given out because people disagree with the author's opinion, out of revenge, or for no reason at all - just randomly.

Imo, HF21 is a bomb that's about to explode...


Off-topic: Darn... 64 already. I'd better get to work if I want to stay ahead ;0)

Vote selling and bid bots are very similar in mechanics. If you think one is going away and the other isn't, that can't both be true. The one main thing that will determine the overall effect of these sets of changes is the subsidized downvote. Any amount that makes vote selling less predictable / more risky will affect things for the better.

Well Said, but you left out perhaps a much bigger black eye...
Unlimited Free Flags
I already have seen many spammy accounts flagging strictly for use of tags (palnet tag use garners flags) and if these idiots are unimpeded by having to pay for their flags (in VP) then they will just flag more and create more troll accounts. FWIW.

Good to see ya still at it MAX!!!
Yes we are Lazy 😉😜🤣😂😜

It's only 25% free flags,...

thx FBA! did not know that (obvs)
That is still a lot IMO

I don't think people will flag more than they used to... I mean, repercussions continue to be a factor.

Yes, Steem become more passive income generating machine for the investors and it really attract more people to power up steem.

Well yeah, maybe it will, as jill says - time will tell!

Guess time will tell won't it?

I guess.... good to see you around here jill.

Cheers!