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RE: #NewSteem is Live
This will be mainly due to the new "CLRC" reward curve.
- If you upvote on a post / comment with zero payout your vote will be 50% of what it was under HF20.
- However if that post / comment payout grows to (something like) 20 Steem then your upvote value will actually have increased back to 100% of what it was under HF20.
- If the payout of the post / comment gets very big your upvote will be worth more than it was under HF20.
This ignores other (I think smaller) complications introduced under HF21.
So that basically promotes voting on whales then. If I want my vote to be worth something, I need to vote on posts that I know will reach the 20 Steem barrier.
Why would I vote on newbies if I know they most likely will not get big payouts?
And what about whales votes? They will also not vote on plankton knowing their vote is gonna be worth half the real value.... So who is gonna vote those little ones now?
How is this #newsteem gonna help new users? I thought it was supposed to help with onboarding....
So disappointing!
The CLRC makes it inefficient to vote on posts that will end up with low payouts. The aim being to discourage low value spam posts from extracting rewards without being seen. Unfortunately the level at which it has been set may also dis-incentivise smaller / newer users and also impacts rewarding comments (since each of these cases typically gains small rewards).
Things change and this is where we are at now. Fortunately the Steem environment is very innovative. There is a clear need for methods / behaviours which will allow smaller SP holders to use their votes more efficiently and quality niche / new users to be promoted effectively. It will require some level of aggregation / cooperation but I think that this will happen quite quickly.
This actually also includes my posts and my friends posts. So if my post is inefficient I will get even less votes than I was before. Where will the whales place their votes? On the potentially efficient posts I am guessing. Which is promoting circle jerking even more.
Why would I vote those small fish instead of voting on those big payout posts too?
If things don't get adjusted my daily earning will drop by half (Total Steem earned comparing from before HF and with yesterday's claim). And I am not the only one here....
The potentially increased curation will not cover that loss.
Which brings us back to the idea of punishing bid bots with this fork. I didn't use bid bots before, but why wouldn't I now start using them now to help my posts reach 20 steem payout, so I don't lose any more than I already did?
For smaller users, the systems / communities / user behaviours that were used under HF20 will need to be adapted to be efficient under HF21.
At the simplest level, one post earning $5 will be worth (something-like) twice as much to the author as 5 posts earning $1.
So communities may look to reward users with a larger amount every 5th post rather than a smaller amount on every post. Users would adapt their behaviours / expectations to this uneven payout schedule.
Users may also post less frequently but with a focus on increased quality in each post.
This all requires some cooperation between communities / groups of friends and there will be some need for scale in each community to make it work. So it's a less "pure" system than HF20. But I think that these adaptations will come.
I also think that it will be accepted that people will use bidbots to reach the 20 Steem threshold, at least initially. As long as the quality is good and the purchased votes aren't excessive (and the bidbot is one of the ones that the general community approves of) it shouldn't be a problem.
There may also be a blurring between communities / bidbots with communities purchasing delegations to support their users, with some level of funding coming from users.
But the key is that some adaptation will be necessary.
Ok, so people should post less often. Maybe twice a week... Won't that reduce the overall site traffic?
That still doesn't solve the post earnings. As a example: If I would vote someone with 100% every day, he will get 5 full votes that way in 5 days. Posting once every 5 days he will get one full vote. I cannot vote with 500%.
Which will bring more customers to the bot owners instead the other way round as planned. I read something this HF was supposed to reduce/kill/make it harder for bid bots.
If this was taken care of for the past 2-3 years, who will take care of that now?
Yea, that I agree.
Overall... overcomplicating (and this is what I think of HF21 now) things will make it a lot harder to understand and absorb for average user. And not understanding leads to lack of interest.
On top of that discreet promotion of using bots to reach the 20 Steem and voting on the biggest payed out posts instead supporting small plankton posts.
Sorry... but I don't see how this HF as a positive change. Hope I am wrong.
P.S. Thanks for taking your time answering me.
So, does that mean if payout is something... Let's say 10 STEEM the upvote value would be %75 of its max?
The CLRC continues to increase past 20 Steem, slowly converging on (but never, I suppose, actually reaching) a maximum value.
I did some numbers a while back, so these are broad brush.
But practically if we say that a post with 250 Steem payout is pretty close to producing maximum values for each vote then:
If 20 Steem payout gives votes value that are equivalent to HF20 linear then:
It's a broad indication only; there are lots of assumptions involved.
Thanks, that was easy to understand!