Wow, I didn't know this was getting abused so much...
I totally agree with you - there should be no monetary gain for voting for your own comments, but maybe only for better visibility.
Any idea why this was changed?
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we demanded it, and we worked for many months getting it changed. The reason was because the whales controlled all the rewards, and that was a bad situation! Minnows had it really bad when the algo was weighted exponentially.
So it helped with getting the rewards spread a bit more, but has now (potentially) caused some other challenges. I'm assuming there were still be multiple changes to get Steemit just right...
I certainly hope that Steemit does get "fixed" properly in the long run to make it sustainable :)
The entire thing is bootstrapped. Problems (usually human social ones) emerge, then a fix is applied to the algorithm. This is how it how been built.