Vlog 415: HF 21 thoughts
The most powerful aspect of the Steem Blockchain for me is that anyone can empower themselves.
Will the changes proposed in the HF21 strengthen this aspect or weaken it that is the question I ask myself today.
I talk about it more in my vlog.
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I always enjoy your insights and I trust your judgement based on you being an investor and a user. The analogy of programmers not understanding people was great. "They'll go out and play on the grass rather than build the house!" Lol
I didn't see you comment on @steemitblog's announcement. Did I miss it? Please voice your concerns there as you do have their respect and attention! What does the @oracle-d team think?
I agree with your thoughts on the SPS. Why take away 10% of the reward pool in order to pay for things that are being built anyway? This building is being done organically and the builders are actually creating business models with outside income sources. This will take away incentive! In my worst English "if it ain't broke don't fix it!"
Let's look now at the reward curve and why I hate the proposal. As a disclaimer I must first write that I have purchased about 25,000 SP at between $1 and $3!
Why I Don't Like It:
1.) If Steemit.com wants another reward model for bloggers they can use SMT's to do it. Don't mess with your unpaid builders!
The Steem blockchain is NOT a blogging blockchain so they shouldn't base everything on that! That is NOT visionary!
2.) Those of us that have built using the current reward system are going to get penalized. I reward all commenters on my posts with an upvote of at least 3% if I can't do that my community has less incentive. What about big investors that are trying to build a communtiy and reward them. Will they still invest? Probably not.
In any case @blockbrothers has the proxy vote for all of my accounts and I'm glad that you are being vocal about your concerns.
On another note why are you using DTube when 3Speak is giving you awesome pay-outs?
Before commenting on the official announcement I'll wait for the testnet. See this thing in action first to form a better idea of what it will look like. Also, most of the time, I stay out of these long discussions because it takes an incredible amount of time and usually leads to nowhere (from experience).
Once it's crushing time and consensus must be reached to make it happen we will know what we are voting for and what it looks like and I'll voice my opinion stronger if needed.
I do like to talk about these things already (like I have always done) on my personal blog and also get a feel of what the consensus is out there from other Steemians.
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I agree that Steem is no longer a bloggers platform, I call it the blockchain of opportunity. I also think SMT's/STEEM ENGINE tokens are the way to reward (blogging) communities.
I use Dtube and 3Speak interchangeably. I like supporting and using many apps on the blockchain, that's the reason.
Patience is a course of wisdom as regards the testnet. Most comments that I've read are negative. I will wait, blog and watch.
Also @kus-knee if you can't upvote your commenters then they will be more susceptible too my flags! lol
this is such an important video man. thank you for sharing your thoughts.
i’m very worried as well for the reasons you stated. programmers don’t often think in ‘human’ lol which means the human element can be missed. a downvote isn’t the same as an upvote and the ‘human’ will react regardless of what you try to wrap it as.
quick question for the idiot in me. i understand 50/50. i think curation is fine and i’m ok with that. but why not keep the linear reward curve? so people know what their vote is worth. is there something that can’t function when doing 50/50 with it? pardon my ignorance.
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They want to change the curve to make it less economically viable to vote on yourself. That's why it slopes up first. That first vote has almost no impact.
If a vote on yourself is less economically viable than using that same vote to vote for a piece of content you think will do well and you earn more with curation, they think this will change voting behavior for the better.
But like I said, the feeling of empowering yourself becomes less. Most people, myself included, are mediocre content creators. But we are builders non the less and steempower is our building tool. Unless you already have a lot it's going to be more difficult to use your SP to empower your own blog/account.
This entire HF21 just feels like Steem inc want a front page with actual quality content like Reddit that regular people who don't need to have a steem account visit on a daily basis so they can get more advertisement revenue.
Downvotes will trigger people like crazy (I noticed it happening to myself also), non-linear reward curve will make it impossible to get anything going for new and regular small-mid-size users. It will be impossible to give a small thank you to readers who took the time to make a comment they put some time in. Most people I know who that are active daily on Steemit also have the 'build your own account' mentality (including myself) which is highly consistent and gives a strong reason to hold SP.
I hope there is still a way to stop this, it feels like literally 100% of users is against what is about to happen with HF21
All good points!
Wait, does the next hard fork include a seperate downvote pool?
yes indeed, you will be able to do free downvotes each day which will make people that get downvoted go totally crazy most likely looking to take revenge. I hope it's possible to just lease it out to groups that watch over the platform and downvote the real abusers.
I agree!
The build your own account mentality (I guess I call it empowering yourself) has been a huge motivator for me to show up every day and work hard and I guess this goes for a lot of ppl indeed.
Your normally so upbeat but I didn't get that today. 'The little man is going to suffer'..
I don't like that concept at all, and if this all goes pair shaped.. we may be buying STEEM at 7c again.
I just doesnt feel or sound good to me at all.
I hate it!
I don't think we will ever see 7c STEEM ever again even if these changes take place.
But I do hope that they will realize that the true power of Steem (for me at least) is that it allows people to empower themselves (big and small) and with all this new technology now build on Steem this is happening now more than ever. Interfering with that mindset can have big consequences.
I am still upbeat! Don't worry! It was super early in the Netherlands when I recorded it and I probably should have drunk a bit more coffee first to wake up!
Yes coffee is the answer.. drinking some Columbian roast right now.. cheers!
Haha, that's probably better than what I have. I still drink coffee from a filter coffee machine that looks like this, I do like it though:
I agree completely. This is not about the Steem community but about Steemit. This has nothing to do with making the community stronger and better.
The fact that it takes 16 STU before the new reward curve kicks in means that it will screw over the smaller accounts. Plus, the reduction in payout to authors means that few of them are going to get anything. This is only enhancing the wealthy on Steem.
In spite of the years of talking, they still think that changing an algorithm will alter human behavior. This is something that Dan doesnt grasp either.
I hate the proposal. I've been here for 3 years and have worked hard to build and to help. Not sure I'll stick around.
Give ppl the tools to empower themselves and they will do so. You only have to look at Steem and what's been build on top of in the last 2 years to see that it works. It happens on all kinds of levels, from the small minnow creating content and earning another 0,5 STEEM to big developers making Steem Engine. I don't understand why this behavior needs to be changed.
Hahahaha. You're so right about human behaviour and the psychology of upvotes vs downvotes. There was an experiment where two people where given an amount of money (I'm not sure about the exact figures).
Person A: Given $5
Person B: Given $10, and then asked to give back $5 to end up with $5
The attitude of each person was completely different. Person A was so glad to have got a 'free' $5, while person B was angry about losing $5 :)
I was quite optimistic about HF21 earlier but now you got me worried if I will get enough rewards in SBD to distribute for donations and prizes... I might need to switch to donations and prizes in PAL. And hopefully other communities will be created with their native tokens which in the long run will be a good thing. But specifically what HF21 will do for Steemit ecosystem, I don't think they have a definite answer because as you say, a programmer has to be an active user to understand all the implications of the proposed changes.
You know what would be good - if STINC payed salaries for developers in Steem or SBD, just like we are getting rewarded. Maybe then they would come up with better solutions for everyone.
Lucky for us we have PalNet, @aggroed and his team.
Your single vote will most likely be worth a lot less on a comment then now if HF21 happens. Switching to donations in STEEM/SBD directly is probably the way to go while you earn those back more efficiently doing something else (most likely curating).
Yes, curation rewards might increase while author rewards might decrease. It's an oversimplification of course, but we will see more details later on. Maybe somebody will do more exact scenario planning with examples. You did it in the video which helped clarify things a bit. For example, taking a real post or two that somebody recently wrote 7 days ago and see how those upvotes would translate under new rules.
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Yes, curation revenue might increase while author revenue might decrease. It's an oversimplification of course, but we will see more details later on. Maybe somebody will do more exact scenario planning with examples. You did it in the video which helped clarify things a bit.
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Someone who finally receives a 10$ payout for the first time (I never received such a payout!) and receives a $4 downvote, like in your awesome and funny example, either
Three ways to react, none of which is about unsettled payouts.
I don't know, maybe this is the right direction. HF21 will hit me hard. Very hard. As it will the majority of content creators. But the future of content creation is represented by the communities and their tokens, I believe. STEEM, SBD and SP will unlikely be earned (easily) through content creation in the future.
I am a little nervous about how this is all going to shake out. I think if it doesn't go well they will definitely get it fixed, but things might be beyond help at that point. I have been trying to increase my curation rewards more lately, so it will be interesting to see how that changes after the hard fork.
Europeans swear so well. I love it. I had a Swedish colleague when I worked at IKEA, Anton.
Really fun guy backpacking around Australia. His swearing was exquisite.
This was a very rare occurrence for me, lol. But I felt like it could emphasize the sentiment of a downvote.