What do you guys think of the 7 day limit to be able to earn money for your content on Steemit?
There is definitely a lot of things about Steemits overall design that, at first, seems non nonsensical, but does make sense when examined more closely. My first contention with steemit was the flagging system. Then I would probably have to list the ability to vote for my own post as being a pretty close contender.
At first, I was basically obstinate toward both of the above ideas for being, what I felt at the time, obvious flaws. However, over time I have found myself slowly leaning slightly in favor of these contentious ideas in some fashion.
Decentralized media is like the wild west.
For example, if you think about the flagging system, as a whole, as an extension of the monetary value of the post rather than a form of censorship you might be able to see its greater purpose in the scheme of things. The end result is that contentious debate will very likely result in the destruction of a great deal of currency which will in turn reduce supply while increasing demand at the same time.
This is compounded by the fact that flagging is a fully public action as well, thus, creating risk for those who wish to abuse their steem power. Steemit is actually a platform where spiraling controversy could result in huge profits for the average user.
Its kind of like decentralized socialism powered by the tears of ideologues.
I actually am starting to like the flagging system as it creates a wild west environment. Everyone has to put their money where their mouth is. What I am not sure about is how things will actually turn out in the end. They often say the pen is mightier than the sword but the dark truth is that the wallet can purchase all the pens and swords you desire making this more of a pay to win scheme than an actual debate platform.
Only time will tell how this will actually pan out. Some day down the road this platform might end up being either a hive mind or a monetized induced troll spiral to the likes of what has never been seen before.
So this brings me to a core point I want to stress in this post.
What you Incentivize is usually what you will get.
These are the wise words of Elon Musk when talking about developing new technologies. In my experience this is true regardless if the end result was intentional or not. degenerative strategy is a common phenomenon in most simulated environments. I cant imagine that this would not be the case in live environments as well.
I am not sure if I am a fan of the 7 day window to make money on my posts.
So once again I sit at the precipice scratching my head while wondering why this was implemented the way it was. I have a handful of posts from the past that I have done where I would like to be able to maintain their relevance actually.
I can maybe see some arguments against simply removing the 7 day limit though. For one, its very possible that removing the 7 day limit could cause a sudden surge in currency creation.
With that said, it seems as though, re-posting previous content may actually be something that is incentivized right now. Would it be frowned upon for me to do a monthly repost of specific things I have posted in the past?
I want to suggest a possible compromise.
I want the ability to pin posts for a cost of about 1 SBD a month per post. Pinned posts should always appear at the top of my blog page. Also, pinned posts should be allowed to continue to earn steem as well.
Good idea!
I also don't like this 7 days limit, and when I started on Steemit I remember it was different.
it sux, I have posts from 8 months ago that might be upvote worthy but 6 days and 12 hours s all we get.
resteeming old stuff would be ice too.
also the option to choose if we can or cant see negative rep stuff.
:D
A lot of people recycle older content and re-post it with a fresh perspective like 6 months down the road. I don't know if there is a perfect solution, because the rewards are pulled out of the reward pool. If a popular post got pinned it could drain the reward pool for months on end leading everyone else to earn significantly less over that time period.
I'm of the same mind. I actually don't mind the idea of reposting content from some time ago, and I've been considering doing that with my scifi serial. I want to put it through the Fiction Workshop and get it up to par for the quality that's expected out of me. Plus, I always thought the storyline was compelling.
I hope eventually we get a separate tab for resteems. Would be a tremendous help to curators.
It is way, way beyond time for that to happen. We've needed a resteem tab since they implemented resteeming as a feature lol
While I'm here, I've been working with the other witnesses at the Minnow Support Project to encourage people to vote for witnesses if they aren't already. As I'm sure you know, witnesses play a vital role in the platform, and the more people engaged and voting for witnesses, the better the witnesses we'll have doing the work of verifying blocks. Have you considered voting for any witnesses?
I am proxy voting with MSP right now. I have been voting for witnesses for a long time, but as many of them don't bother updating the community regularly it's hard to know what is going on with many of them. I discussed my concerns and choices with followbtcnews and we were on the same page so I gave him my proxy.
Legit. Glad to see you care :D followbtcnews is a solid dude, and he knows what he's doing, so you're in good hands. With how many dead witnesses are still on the roster, it's been a concerted effort trying to turn that tide around, so I'm glad to see that there are users who do care about where their votes are going.
@thecastle The titles of your topics sound really good, inspiring and helpful for newbies:))
Upvoted and resteemed!
@steemit.global motive is encouraged to steemers from {Resteemed and Upvote}.
"I want the ability to pin posts for a cost of about 1 SBD a month per post. Pinned posts should always appear at the top of my blog page. Also, pinned posts should be allowed to continue to earn steem as well."
If this feature would be implemented, it should not be bound to money. Rather it should be one pinned posts per person/account or something like that.
If you make a feature like this available for SBD it will mostly benefit the wealthier accounts and therefore make steemit even more pay2win than it is at the moment!
Of course, one SBD ain't a lot - it can still make a difference however!
Any meritocratic system will tend to cause wealth disparities. There is really nothing we can do about this.
7 day limit is a great way to keep us motivated to be more active. Plus it will hurt the awards if all posts made money indefinitely. Not to mention that the 'elite' will collect even more money.
I would even go so far and argue that it might be good to use flagging in a much more opinionated way. If you think a post is drasticly overvalued it should be OK to downvote it. I know this argumentation has led to people being shut out from the reward pool completely and I really dont want to advocate auto downvotes on authors you dont like and dont want to be seen/hidden.
The 7-day payout period has been a thorn in my eye for the longest time. As you mentioned you get what you incentivice and with all this hot/trending and dead after 7 days sensationalism, you will get a bunch of overhyped(overvalued) posts.
I was told the main problem is delegation. You could cash out your rewards after 7 days, delegate all your SP to another account and then vote again on the post.
If we need to get rid of SP delegation to get longer, preferably never ending, payout periods on our posts, then I am in favor of getting rid of delegation :).
I think the end result will simply be more repetitive posting habits. I cant imagine this would be a good thing for the platform. Also, if people figure out ways to exploit the platform I imagine it would be something that is fully public and thus should come with a fear of being found out and flagged into oblivion.
I think it would be great if posts could be rewarded for longer than 7 days. That way really great content can be rewarded for it's merits, rather than based on how many people it can reach within 7 days. It's too much of a shouting contest with the small time window right now. And to be honest, 7 days is only theoretical... in reality you need to get your upvotes within the first day or so. After that you'll be so far down the list, it does not really do anything that you can still be upvoted and rewarded for the remaining days.
I have high confidence that these issues will eventually be improved.
that's very helpful post!!
thank you ;)
Without the 7 day limit things would not work well. It would reduce the pool of cash for each payout set as older posts would keep taking from it.
7 days is also not the full story. Unless your post gains traction very quickly then it just falls off the radar far quicker and gets lost in the noise.
If anything I would like to see something that worked against the constant flow of meme crap that in effect hides quality articles. That would be the best thing that could happen imho