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RE: Why Minnows Don't Buy STEEM
I ve read an articel about commenting and there was suggested to do it and explained why (cant find it anymore though)
But especially if you start out most of my rewards I have gotten so far are from my own upvotes. And as great as steemit is, I would be lying if I said I dont want to make some money with it either.
I was just searching for articles, seems there isn't a consensus on whether or not it's within steem etiquette to upvote your own comments, thought people seem to agree that it is okay if you would otherwise not use your full power votes that day and/or wish to push your comments closer to the top to highlight what you feel is important information/good content. I think I will still try to mostly upvote others but might try the upvoting comments thing in certain situations like they described. I am curious what other's think about the self upvoting??
Self voting keeps you from voting on other content, and that keeps you from generating relationships. Those that find their rewards are coming mostly from their self votes might note that their own votes are limited in number, but the votes of the community are limitless.
For folks that have a grip of SP, self voting is self defense. If your vote is worth $100's or $1000's then not self voting seems like wasting opportunity, and that makes poor business sense. However, you're then trapped by your SP, and unable to curate and grow Steemit in the direction you want it to go.
What really chaps my hide atm, is VP decay. I haven't voted in days, and my VP is barely above 50% last I checked. I consume a lot of content on Steemit, and want to upvote everything I like, even a little. This becomes hundreds of votes per day, and my VP will not recharge, meaning my vote becomes motivationally meaningless.
TBQH, that's a lot worse than self votes, even though self votes account for a far greater concentration mechanism for wealth. The network effect of getting many minnow votes is very motivational, even though ppl want the whale votes (of course. Who doesn't like money?).
Disempowering minnows from voting, as has been shown in my example, dramatically reduces curation, which is the lifesblood of Steemit.
Thanks for the response. Hmm, yeah the voting power decay and recharge cycle are an odd wrinkle/dynamic in Steemit. On reddit, I can upvote all day long and a vote is a vote. Here, there are a lot of posts that talk about limiting your per day votes so that your VP is stable and/or is able to recharge. I am not sure what the answer is though. Hmm...
Last week I was still upvoting profligately, as had been my practice from the get-go. However, I read the white paper (which, apart from some relatively simple math, is not too impossible) and learned that if I didn't reign in my voting, my VP would continue to be debased and never recharge.
It seems that voting until your VP is down to 70% or so, and then waiting for recharge is about the best you can do. Your read of the white paper will prolly give you a better answer than I can.
It's not only self upvoting there are old circles they are upvoting each other
It's a form of insidertraiding
I saw an article that someone offered a bot to do the upvoting in the best possible way for the groupe
It is a way of mining and you expected to invest your money first
Otherwise you get nowhere
The question is if the guys on the bottom of the pyramid are ceep coming