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RE: Understanding Steem's Economic Flaw, Its Effects on the Network, and How to Fix It.

in #steem6 years ago

I appreciate your substantive and responsive reply. You well note other metrics that do affect folks using Steem based social media, in addition to considering how economic rewards are essential to such UX. I do not disagree that financial rewards are key to Steemit's success, but am trying to point out, in my labored, dull-witted way, that the key goals of such media, and the people using them, aren't financial alone, and only considering financial metrics isn't sufficient to reach those non-economic goals.

It is the disconnect between the financial aspects of such UX and other goals that produces the disaffection of those that are unable to define success in any other way than economically, at least in part. SOC (SMTs, Oracles, and Communities) will enable various mechanisms of accounting and rewarding users, and I hope some that better reflect actual people's goals eventuate. One metric I can presently gauge only by the seat of my pants is engagement and insightful criticism, and this is actually my chief aim on Steem, rather than money. The ability to post things that aren't popular (censorship resistance) is another key metric/purpose of blockchain based social media.

I do not see how only tweaking financial metrics can effectively forward these other ends folks have hereabouts, and suspect that such sole focus produces only new loopholes for those who are focused on economics alone, and concentrating such Steem as they can in their accounts. For example, tweaking curation rates can be gamed no matter what the rate is. Non-economic goals of curation, such as discovering new ideas, seeing obscure art or pictures, fall by the wayside then. Tweaking other metrics, like how many new photo blogs were upvoted each week (just a metric off the top of my head that doesn't involve money - not a recommendation) and how they are acknowledged, may encourage better curation without playing financial whack-a-mole.

Thanks!