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RE: Proposing Steem Equality 0.19.0 as the Next Fork

in #steemit • 7 years ago (edited)

The stuff in the white paper regarding the reward curve being non-linear is still how the network operates. Find the section titled "Voting on Distribution of Currency" or skip to page 16.

The white paper is the rationale provided for the features of the network. Proposed changes to the network should include a new rationale, set in the context of the old.

7 years ago in #steemit by
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     7 years ago (edited) 

    Thank you, will read that section.

    Although I stay with my request, for anybody creating software, I believe in proper product management. Being a product manager in the IT/Telecom space for a long time, I know how that needs to be done. It includes informing the peers in an good, informative way explaining the things I mention. This to inform colleague's but also customers and users. Already to the post you see quite a few questions that are not necessary. The more comments, the more everybody. And expect more posts being generated on this topic, with all the comments that will be made. Some will even be on misunderstanding. The document I ask for, should become part of a new wiki, or document folder to which which everybody can always refer to.

    For now, I will read the whitepaper at your suggested section. And thank you again for pointing out.

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       7 years ago  

      I made a comment regarding linear curation rewards earlier.

      A linear curation reward curve would remove all incentive to vote on good content (for the purpose of curation rewards). If your vote is linear then it will increase the payout of a post by the same amount no matter how many or few votes the post has. Then, your weight compared to others for curation rewards is also linear. The result is 25% of your vote always goes in your pocket no matter what you vote on. Incentives for curating content go away. We compared it to today's curation rewards because we believe they are in a pretty good place and want to keep them as close as possible to how they work today. The mechanism may be slightly different, but the result should be the same.

      We still believe that the n^2 curve would work if we had not underestimated the wealth gap that was primarily caused by the hyperinflation being paid to Steem Power early on. The small users that got in early are whales today. If you mined one PoW in the first month you would have 21 mv today. However, that is not what Steem looks like today and we need to make decisions that help that platform that exists, not the one that could have been.

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       7 years ago  

      I find Nˆ2 far of from linear. If we are in Nˆ2 situation, I suppose you refer to the no whale vote experiment, what are the results so far?

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         7 years ago  

        The small users that got in early are whales today.

        How early?
        I got here in August with 3 Steem, understood the purpose of the inflation, and certainly I am not a whale.

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           7 years ago  

          Early as in the first couple of months. (Steem launched in March of 2016)

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           7 years ago  

          Right, so I am a late comer.
          I guess that inflation is off the table even though what we have is the same net effect without an ever increasing sp balance?

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