So HF20 is going to change the curation algorithm? Because as it is the first votes get more curation, so if there's an early vote, won't it take more of the subsequent curation rewards and also assign those to the reward pool? I guess I still don't understand.
That's mighty big of you to say you were wrong though. Props to you for taking the high road. I'm proud of you, man!
that's not exactly true... Remember that you only get a % of the amount of curation you get if you vote too early... So I will give you an example..
If you vote at 5 Min... lets say you only get 5% of the reward due to you... but 95% of that reward would go to the author. Yes you were early and get a high curation score between the 2 of you, but since 95% went to the author then you still get less than say someone at 20 min.
So really the guy who votes early is by and large working for the author... like his mule... And of course for the rich guys this means their alts/bid bot buys. This actually hurts the later curators since it is "artificial" demand.
But there will be a dis-incentive for the author to do this now. He will simply wait to do his upvotes as he doesn't want to send his funds to the pool... This will give the curators more chance to get in ahead of the author (since there is no way to beat a 0 min vote and make anything. Even a 5 min vote would suck on payout, even on a huge vote (on the way it is).
And technically it will take the same as it was before, but it will send it to the reward pool instead of the author. But in reality, what will happen is the early "fake" votes will dry up. So it will mean less being take away from the curation pool for everyone "other than the author".
And thanks Arch! It took Carl a few days and lots of questions to get me to this point. But I'm convinced he is right and I was wrong.
But since the earliest voters take the largest portion of the curation, even if they're giving it to the authors (soon to be to the pool), the later curators don't have as much curation to get.
If the first person would get 35% of the curation, the 2nd get 25%, the 3rd 15%, the 4th 10%, the 5th 7%, etc... then even if only the first person votes at 0 minutes, 35% of the curation is gone. Whatever happens with the rest of the reward, only 65% of the curation rewards will remain.
What would happen if they changed it so that rather than being sent to the rewards pool, they change it so it's just given to the later curators? It would just bump up the curation amounts that the later curators got. Maybe that's too complicated.
Oh, well. I've never really gotten anything off curation anyways, so it's not really going to affect me either way. Just let me know when HF20 is going to take place so I can roll the autovotes back a few minutes. :)
lol on the last paragraph... that is really my situation too! hahaha
as far as sending it back to the "pool" or burning it or sending it to the other curators, there are pros and cons of each.
As far as it hurting the other curators, it actually will have the opposite effect. Right now there is a HUGE incentive for anyone to do an autovote at 0 min. It is like 33% advantage. If those send the money away, then what will happen is they will just happening at that point in time. That one change will certainly affect the later curators as the autovotes will be later no mater what. (assuming the big guys care about getting paid for their vote and they have shown that inclination)
So if they move it to say 15 min, then you can hop in at 14 or 13 and still have a chance. In many cases they might not even try as most of the 0 min votes are done simply because they are "can't pass up" situations. If they disappear, then the votes cast later will have a better chance.
I am no expert, but I do know that removing the money going to the author from the early part of the curation will have a change of behavior so they don't self upvote or bid bot themselves in that timeframe. What is the best way to distribute that money or even just burning it, is something that many can have different views on.
My original though was you could take away from the author the 75% with early votes... But that is where my flaw was. It really doesn't affect the average guy at all, it really hits the guys that 0 min vote it with size. So they will either move their votes out farther in time or stop/reduce them. Either way they should get less of the pool than they were...
Frankly the only thing that worries me still is the top 20 witnesses voted for this, which many of them are bot owners. I'm surprised they are going to curtail their cash cow, but maybe they realize that it has gotten absurd. (we can hope)
Wait, the witnesses get to vote on proposed hardfork changes? Can I vote? heh
It's all kinda over my head at this point. i'm getting bits and pieces, but most of it isn't totally making sense. That's ok though. If you're happy, then I'm happy. I don't have the mental bandwidth to focus on it right now. Maybe later down the line.
Thanks for keeping an eye on things for us!
I’m in the exact same place, @themanwithnoname. All this information is dazzling me. I get some things, but most of it all sounds like Chinese to me, lol.