Earlier today I wrote an article about the impact of Hard Fork 19 on reward distribution and concluded that while there were many unknown factors, I believed the impact of this change would be material. But I didn't realise it would be as significant as it appears to be.
Just before the change came into effect the potential post payout was around $25, which I was very happy with. An hour later I looked in astonishment to see that payout had escalated to $105. I initially thought this was the result of a couple of huge whales upvoting me but i soon realised that all my posts from the last week had increased by a many hundred of percent and it dawned on my that I was seeing the impact of the change I had just written about.
I am delighted to see this happening because i feel this is what the platform needs to retain and encourage new users and more and better quality content.
I was getting concerned recently that mediocre posts were getting ridiculous rewards, not based on merit but by virtue of the fact that they were early users of Steemit and had built up a network of whales that appeared to vote for every post they published. I am not saying this is the practice of all whales but there are many who I feel are guilty of this.
For this platform to succeed on the scale we all want it to, it needs a hook that encourages new people to invest time and effort and reap the rewards of that effort. I've read so many excellent articles on this platform which have received 50+ upvotes, tonnes of comments of praise and yet the reward was less than a dollar. How is that good for the platform??
Anyway, apologies if this post is a bit like a rant but I'm excited about this change and wanted to air my view on what I feel is a significant step forward for Steemit.
Thank you for reading.
I noticed the same on my posts. It makes me have a sense of accomplishment with higher payouts. I also want to give more because it equates to receiving more from the community.
Not a rant at all @bitgeek. I feel exactly the same way as you do.
New hope for a newbie like me that is here by only two weeks... :)
Definitely created positive impact in Steemit especially to minnows. They will be more encouraged to engage in commenting posts due to higher revenues. The 4x voting power helped a lot for minnows to strive more in Steemit.
However, the new update is very dangerous. I see "Abuse" on this update. Community, groups, clans and connections will be the key of the abuse. Which means, trading upvotes will likely be one of the major problems of this HF19. Thanks #bitgeek!
well, looks like things are headed in the right direction :)
Full steem ahead!
It's certainly been lots of fun this morning with the changes that have occurred due to the HF. I'm curious to see how just how many more begin to post or if commenting picks up? I know I've posted today which is something I normally don't do. We shall see.
The rise in payment for content will be good for minnows like myself who dont have whale feeding me upvotes and resteems without even reading the content. I'm hoping with the changes content will be better rewarded. Rather than who has the best bots. Good luck out there! @babyfist
It is a crazy change, really good. But almost too good to be true. Someone had to come out on the bad end. I'm just waiting to hear from them . But it was awesome to wake up and see the changes
Steemit went from good to awesome. I said it before: the steemit devs know what they are doing!
I completely agree and look forward to seeing the longer term effects this change has on user retention.
It's really good in a way.
This is very encouraging news. I love STEEMIT
This post has been ranked within the top 80 most undervalued posts in the second half of Jun 20. We estimate that this post is undervalued by $91.68 as compared to a scenario in which every voter had an equal say.
See the full rankings and details in The Daily Tribune: Jun 20 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.
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