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RE: Steemit - Improved Voting and Comment Model (simple but effective)
I like the formula, I agree that Steemit needs to promote the long term value of posts. We would need to implement a periodic payout model to support this, something like these two options:
- 7 Days, 30 Days, 60 Days, 90 Days, every 30 days until a cap
- 7 Days, 14 Days, 21 Days, 28 Days, every 7 Days until a cap
I think there will need to be a cap on how long posts could be rewarded to reduce the burden on the blockchain of a ever increasing number of payouts. The limit would probably be dependent on the technical limitations of the blockchain itself. We could probably start at 36 months for now but have to reduce it is Steemit draws significantly more authors.
Thank you! If it is a 1/x² kind of formular, this burden would be diminishingly little, but I agree maybe a cap after 1, 2 or maybe even 3 years is a good idea. i mean these details should be adjusted "on the fly" when statistics show that too much Steem is going towards older posts. I doubt this will be an issue in the first few months/years, though.
I'm also concerned about the transaction volume. Ongoing rewards increases load on the blockchain which probably isn't a big deal now but could be an issue if the user base increases significantly.
This could indeed be the case. Btw, I heared roumors that there is no evidence, that Steemit has a real blockchain, do you know something about it?
That's just crazy, you can't make a chain out of blocks :-p
lulz