Mmh, so I guess I can kiss the curation rewards goodbye for some time!
Probably this has to do with the fact that there are no decimals. So for the moment only the mods could get curation rewards with their stake of 30K.
If even 2K isn’t enough to have curation I do see this as a missed opportunity. How could newcomers start earning if 50% of the payout isn’t theirs and upvoting has no sense because I would earn them any pal at all!
This!!!
We're working diligently to add decimal precision asap, so you'll be seeing curation rewards sooner rather than later. This was a huge oversight on our part, as the token was originally planned to have a much larger distribution initially, but with a distribution of less than a factor of 10 of steem's, decimal precision (possibly to the 8th place) will be essential.
It's not about the distribution, it's about the valuation. If you had targeted a valuation of 0.01 and released 100x as many to everyone, then the lack of decimal precision would be much less of a problem, even without wide distribution. In fact, wider distribution would make the problem worse, because the wider the distribution the fewer the tokens each average individual holds.
The fact that nobody ever sat down with a calculator and asked 'how much PAL does an account need to deliver 1 PAL in rewards?' and used that to guide the coin/drop parameters is a glaring oversight. The minimum needed to deliver a 2 PAL upvote (1 PAL each at 50/50) was greater than the maximum coindrop of 2500 PAL.
Nobody can earn curation unless they were inner circle or bought in. That's a little bigger than an 'oops'.
Distribution is definitely a factor, as it gives a frame of reference. When you say that 2500 PALcoin stake should reward 2 PAL on a post, you're essentially saying that a 37k SP account on steem should award 30 steem for an upvote. Your logic is faulty because you're basing this off what you've expected on steem, and this token has a much lower supply than steem. The problem is decimal precision, and that's being fixed asap.
Decimal precision and valuation are opposite sides of the same PALcoin.
0.01 PAL with PAL at 1 STEEM is the same thing as 1 PAL at 0.01 STEEM
For the record, what's done is done and at this point decimal precision is the solution. My point is not that it should by 1 PAL, it's that your 'average' user should be able to earn the minimum transferable increment from a 100% upvote. If that's 1 PAL at 0.000001 STEEM each or 0.000001 PAL at 1 STEEM each is completely irrelevant.
Edit: I didn't say that 2500 should reward 2 PAL; obviously that would be a totally broken inflation rate. What I said is that the tokenomics should have been checked to ensure that you didn't have to be an insider to earn curation.
Like I wrote in my comment it is easier tot criticize than to make something!
But it is great that the project team has this on the roadmap!
As long as a project evolves it is great! Some choices will turn out wrong, some spot on! As long as there are more correct decisions then wrong ones, it will head into a great project!
Cheers,
Petet
decimal precision is coming in the next week, so that will definitely improve the user experience! It was calculated earlier this week that around 1600 to about 2k gives a full PAL on a post at 100% but that is fluctuating wildly at the moment so it is too early to tell where that will stabilize :)
I knew that decimals was on the roadmap and with the case of @whatsup it shows that it is vital to make this into a gamechanger!
Thx for the info!
Cheers,
Peter
No problem, we are catching the issues as they come and doing our best to balance them :D
I'm not clear if the decimal thing is only a display thing or if it goes to rewards as well.
I guess no token would want to make it so no one wants to buy, I guess finding a good balance where if people buy it makes a difference is still a goal.
I can understand the economic model behind it, and they did give a way a lot!
But with this information I do find it an unbalanced playfield.
Just my 2 cents. And yes I do understand that it is easier to criticize than to build something!
oh yeah, I wasn't disagreeing. I hate the idea of buying to catch up instead of buying to get ahead. :)
We will see how it develops. I can say, with DRAMA even (much simpler) it felt different in reality to how I saw it in my head. The team is engaged and listening to feedback, so I'm going to watch it develop and participate.
On SteemIt no one is even listening.
Lot’s of truth in that!
For sure they will tweak the project and process.
I know that Drama is around but no idea what is does and what the use case is!
Nowadays there are soo many tokens that it is hard to catch up and stay up to date!
So I will just focus on the gambling tokens. Trying to make a difference there with separating the legit projects from the scams. We even created a @fairbet account for that!
That keeps me busy enough!
My idea was to use Pal for the moment steem would also for the 50/50 split!
Still curious how it will evolve!
Time will tell!
Cheers,
Peter