New idea to encourage making content- account decay
Sorry in advance for reposting content. Back then, I did not know about Utopian. I think my idea will be more likely to be implemented if Utopian sees it, so I reposted. I changed it slightly, however.
Some accounts are on steemit with no real activity.
Look at this account:
It has almost $20 million but no activity at all! So it's pretty much useless to the steemit community.
Of course, I get that poloniex and bittrax serve a vital function by trading STEEM. But they could easily trade STEEM as well as curate and create content. There are also many individual trading accounts out there that are just sitting idle.
Furthermore, there are bot accounts which do the same. They perform the bot functions, but do not curate or upvote content.
I do acknowledge that bots and trading accounts are healthy for the steemit community 99% of the time. However, we need some way to encourage these accounts to use their curating and creating powers.
Just think. There trading accounts all have MILLIONS of steem power combined. That's a lot of power that's in the steem system not being used.
We need some way to either further encourage posting and curating, or discourage NOT posting and curating.
Maybe have a function like account decay, in which accounts lose their money at an exponentially increasing rate for not being active curators/posters. So after three days of no activity, have (for example) e - 110% of their account value go away daily. For each consecutive day without posting, the amount lost doubles. In this way, those who go on short vacations or are too busy to post only an infinitesmal amount of STEEM, while the large trading accounts will be compelled to post and curate so they don't incur penalties. If a user will not use STEEM for a long time, he can just cash out everything. When they are powering down, this applies just the same
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In principle I like the idea; except it would be more psychologically effective if you reward being active rather than punish inactivity. And, that's essentially already done.
That will make a lot of HODLERS sell their Steem, effectively driving the value down.
The only people that will hold Steem will be the ones obsessively posting on it, literally driving away the casual users.
I'm sorry, but I hope this idea won't get implemented.