Hard Fork 21 Reward Mechanics: The Main Good and Bad Things

1 year ago
(edited)
2 Min Read
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I did a lot of thinking about Hard Fork 21 and its changes on the reward system.

For those of you who don't know, Hard Fork 21 will bring some changes to how rewards are distributed, and curators will now receive a lot more rewards, while authors will get less.

Initially, I was revolted... it just seemed bad throughout. Now that I've thought more about it, it still seems bad, but I can see good in it as well.

Overall, the main good thing and main bad - in my oppinion - can be easilly explained, and that's what I'm going to do throughout this post.

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Let's Start With the Good Thing: Less Spammy Posts... I guess!

Well, since authors will receive less and curators will receive more, I can see all those spammy accounts publishing less, leaving more room for quality content.

Usually, spam accounts are small in SP and Resource Credits, and therefore I can see them spending most of their RCs on voting and commenting on other posts. Even if they are a little bit bigger and have enough RCs to work normally, I can see them thinking rewards are too small to bother.

On the other hand, people say it stimulates curating, but that leads us to the bad thing.

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The Bad Thing: Vote Selling is More Profitable Than Ever

If you think about it, the increase in rewards goes to those who vote.... REGARDLESS of how the vote is cast.

Sure they can get a bit better rewards if they vote on "winning" posts, but if they are selling their votes then their votes will go towards people who buy votes, hence you'll get profits anyways.

Now, selling your vote you get ALL of the curation PLUS some of the value of your vote.

I antecipate that what will happen is whales just pull delegations out from the bots in order to have them in their name, and then vote sell.

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Let's Be Honest: Let's Face It

Do you really think those whales with thousands of Steem Power will start curating because of this? Do you think big steemians will start curating because of this?

The answer is people are lazy, and investors in steem, whales and orcas, even dolphins, heck even minnows are lazy!

If they can profit not only from the curation but also from the vote selling AND be able to lay back and relax.... don't you think they'll do it?

Sure, bid bots will die... the era of bid bots is over, the era of vote selling begins.

And that's my humble oppinion.