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RE: Proposal: reduce Hive inflation by reducing curation rewards

in Hive Improvement4 years ago

I think the topic of the next HF and core protocol changes should be focused on SMTs. They are way overdue. They are wanted by many. Moreover, having SMTs and experimenting with different rewards models will produce more data to discuss any future changes to the Hive inflation distribution. Potentially removing the Hive rewards for content altogether.

As you also say EIP has been successful getting rid of most of the bid-bot activity. Not only that, most those activities were diverted to curation and authors.

I don't think auto-voting is completely bad. Perhaps not managed auto-voting, set up once and forget for years kind is not helpful. But managed auto-voting, where voters keep them updated mixed up with manual curation is helpful. Discouraging voting will hurt the authors, who already lost significant portions of the rewards due to the EIP. The promise of EIP was authors would have more votes with 50% rewards, compared to 75%.

Now if the problem is auto-voting, let's focus on that. For example hive.auto made some changes discourage non-managed and forgotten auto-voting. We can closely work with auto-vote services to make improvements there. Alternatively, we could make code changes that would break the auto-vote scripts if not updated timely.

I like your Solution 2: make it easier to find good posts. This would be a great addition. Creating a search tool that all front-ends can implement. We did have tools like steemlookup but it was discontinued due to maintenance costs. It was developed by Curie and code open-source can be found here if anybody wants to repurpose it for Hive. Hiddenblade wrote detailed post how this kind of filtering tool is helpful in discovering content here. But ideally, it would be great to see such search tools built into Hive.blog.

If we need to make any changes to the current Hive inflation distribution, I would rather see decreases to interest, and decrease to DAO funding because DAO already has a lot in it. Maybe we should also consider increase to back-up witness rewards. In any case these inflation changes should be considered as whole.

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I think the topic of the next HF and core protocol changes should be focused on SMTs.

I agree that we should consider SMTs and other methods for supporting tokens in Hive in the next HF. But even more important, I think we need to focus on how we should facilitate creation of useful Hive apps (token creation is only one aspect of this).But all of that is a big task. I got very tired of how Steemit always tended to push off discussions of doing anything else, no matter how easy it was to do, while working on SMTs.

The promise of EIP was authors would have more votes with 50% rewards, compared to 75%.

That's kind of true, but not an exact statement. To be exact, the promise was the quality authors would get more rewards (because of better curation). I think that has worked out to be true, other things being even. Of course, the dominant factor for author rewards has always been and will always likely be the price of the Hive token itself, since all inflation is a percentage of the current market cap. So the best way to increase author rewards is to figure out ways to make the coin more valuable.

For example hive.auto made some changes discourage non-managed and forgotten auto-voting. We can closely work with auto-vote services to make improvements there.

This is definitely helpful.

I like your Solution 2: make it easier to find good posts.

I definitely plan to create proposals for doing this in the future, if no one else takes it on. One problem for the past months is that most all of the front end developers at BlockTrades have been tied up on projects that were begun long before Hive launched.

Just saw a tweet by @aggroed with which I 100% agree and so obvious for many of us on Hive.

#1 blockchain for gaming is now $hive. it's 18 cents right now. Consider your financial choices carefully.

This goes inline with what you said:

I think we need to focus on how we should facilitate creation of useful Hive apps (token creation is only one aspect of this).

I completely agree, Hive is a perfect blockchain for decentralized Games and Apps. Taking this opportunity let me share some thoughts and vision on this.

I have read your posts in the past how it is easy to connect to the blockchain compared to actually building the UI. But we lack proper guides to do so. Instead of attracting veteran coders, perhaps we can attract beginner or intermediate devs who are just learning and getting introduced to coding. If we had some guides that teach how to build Apps and Games on Hive that can be powerful. I am not a dev, but got introduced to coding here and can do basic scripts and read code. Maybe we can create a hub where builders/devs can share codes or maybe even sell them.

Educational aspect of Hive is really powerful. Perhaps more experienced devs can create quality tutorials or courses to build on Apps and Games on Hive and maybe even get these projects funded by DAO.

I would like to see something like an App Store, a hub that provides easy discoverability for builders of Apps and Games. Addition of Our Apps in Hive.blog is a great start. Perhaps we can add submit your Apps button where new Apps can have ways to be added there for more discoverability by users.

I like your vision for Hive. Thanks for everything you and your team do.

I definitely think it is important to improve the information available to Hive apps devs, but even more importantly, I think we need to improve the actual APIs available to devs and create more software tools and components that reduce the amount of coding work needed to create Hive apps . I believe we can make substantial improvements in this area. This would also make it easier for less experienced devs to create apps on Hive, of course.

100% agree!

I also believe SMT's is one of the solutions to this problem as well. Getting rewards off the base token would put it into communities hands to maintain their value. It's really a shame we didn't have them out 3 years ago, but I know Hive can do it better.