I didn't know about this, I guess running this contest will be a good learning experience. In a way it sounds like it mimics real world economics where the rich get richer and the poor continue to struggle to make a dime.
I didn't realize that voting is basically monopolized here by the SP wealthy.
You'll probably get a good perspective on how users who need the money experience the platform.
It does, it really does, wealth concentrations in crypto are terrible across the board and we're no exception to the rule. A handful of accounts own most of all the SP that's powered up, and singular votes can make or break someone's chance to be a top 20 witness.
Because of the not-so-elaborate pattern of the thinly veiled vote-for-vote players with similar SP levels here, small SP players just get by trying to enter as many contests and creating content for any of the curation orgs/dapps they are able to. It really doesn't help that only a 0.02 STU vote or above cashes out at time of payout, anything below that is rounded down to 0, and with over 300 SP I barely do 0.03 votes at max power so unless minnows were more coordinated it's harder for them to help each other out with their starting 15 SP.
The last major breakdown of whale voting patterns I've seen showed it was kind of split, where some whales just power themselves up, and some whales vote or delegate to community projects. But everyone seems to be cashing out at least a little on the side as a hedge as the price falls.
Do you know that initially, 15SP used to give $0.01 upvote? Suddenly everything has changed. With 300sp you can barely give $0.03 upvote. That is bad news for those of us who are way below that.
Our chance of growth is pretty slim. We just have to keep doing what is right.
I agree, @newhyt, to do right although everybody or the most do bad. So we will have a clear conscience
Yeah when I started it was around 0.01 to zero depending on the day. It really is, they need to make it so it doesn't round down to zero, it is really discouraging for everyone. It used to take more steem to create an account as well, now it's only 0.1, used to be 0.5, and was even more before that.