Stopping my powerdown to subsidize engagement
Yes, I was powering down a little for an 'emergency Steem Fest fund', so now I have to make sure I get some extra work in the real world to go. However, I think it is going to a good cause; @steem-ua. So, now I delegated 2500 Steem Power to 'the cause' because obviously, I really want to see how this experiment pans out...
If you are wondering, there are:
737 delegators delegated currently 394195.41 SP to steem-ua. That's 534.86 SP per delegator.
That is pretty decent in a week or so of collecting delegations.
25 SP - 177 (potential 1 vote)
50 SP - 108 (potential 2 vote)
100 SP - 191 (potential 4 vote)
250 SP - 211 (potential 7 vote)
500 SP - 16 (potential 7 vote)
1000SP - 8 (potential 7 vote)
2500 SP - 5 (potential 7 vote)
5000 SP - 11 (potential 7 vote)
10000 SP - 7 (potential 7 vote)
25000 SP - 1 (potential 7 vote)
50000 SP - 2 (potential 7 vote)
I write potential because people need to post to get the vote and many aren't going to post every day, even if they delegated for 7 votes worth.
But this is where it gets interesting I think.
There are 177 delegating 25 for a total of ~4425 SP.: 177 votes
There are 108 delegating 50 for a total of ~5400 SP: 216 votes
There are 191 delegating 100 for a total of ~19100 SP: 764 votes
There are 211 delegating 250 for a total of ~52750 SP: 1477 votes
That is a total of 81675 SP to cover a potential 2634 votes.
The other 52 delegators can get a potential 364 votes potential (most of these won't post 7 times a week anyway but we will include them)
that is a total of votes: 2998
This is what that SP vote is worth currently:
All things remaining equal, maximized it can deliver that 70 times a week for a total of: $300
300/2634 = an average of ~11 cents per vote. Not bad.
395,311 Steem power is the total delegation amount. and all things equal can deliver, 70 x 20.74 = $1451.8
1451/2998 = an average vote cast of ~48 cents.
an account with 250 SP has a vote value of ~1,25 cents. 12.5 a day and 87.5 cents a week. Granted the vote weight works on the User Authority score but, using the average, that same account by delegating 250 SP can potentially get 7 votes and $3.36 in vote value - curation of course so, around 2.70 average.
This isn't going to be the same for everyone of course because, the User authority rank dictates vote weighting so to get a better weight, an account needs to essentially, create content that attracts higher ranking users and engage well in the comments sections. But, even at the lowest votes I have seen of 10 cents ($0.70 in a week), it is equivalent to about 55 self-votes, without self-voting.
If we look at getting $2.70 (all things remaining equal), that is about 2.5 Steem a week or 100 Steem in a year. If all one has is 250 SP and delegates, posts 7 times a week, it is a 40 percent return on the delegation without any other vote. Now, if one produces some decent content, engages well and attracts some attention, they will attract additional votes on top of this which not only adds to the total but, increases their UA ranking. Engage well and a 250 account can be a 1000 SP account within a year quite easily. Potentially, in that group of delegators up to 250, there are 600 soon to be minnows with 500+ SP. That is about 5% more than today.
If this doesn't encourage small users to power up and get enough to delegate, nothing will.
However, this is made possible by the larger users who delegate much more than they could ever possibly benefit from it. I was delegating the 250 to maximize my vote but increased it to the 2500 so that I can cover others instead. This compensates for the 7 I will get from @steem-ua and allows more in the lower reaches to get a little more.
I think the 2500 qualifies me for a percentage of the curation return relative to the total, but, this isn't the main reason for doing this. There is no way I am able to support so many accounts (indirectly) with the same values my 2500 will deliver here and, even though there is a User Authority dictating the vote percentage, no account is excluded from delegating and taking advantage of it.
If hypothetically, @ned and Steemit Inc decided to go Steem for Steem on this, it would multiply the support without adding new votes to cast (essentially making it a x4 factor) and not only make it a no brainer for small accounts to delegate to but, an attractive option for large delegators to passively earn from the curation bonus. It would be a Steemit-backed, community-backed curation initiative to increase distribution, encourage powering up and holding as well as affect engagement and post quality. With enough SP, this will vastly change the distribution and create many more minnows fast.
As I mentioned earlier, this is a very large feeder for many accounts and still has some barriers to entry without any one having to place a bid for a vote. With support, it will feed Steem to many at a low level but that level has to prove that they are capable of getting at least 25 Steem to take part, power it up and then, lock it into a delegation. As I said to @therealwolf the other day (we don't always see eye to eye) this is not competition to bidbots, this puts bidbots where they should be, as high-end promoters, to which he agreed. Maybe there is hope for him yet ;) A User Authority vote is not going to ever put anyone near the trending page although, no one on the trending page is excluded from being part of it.
I really don't know if this is insane or genius yet and I have no idea what happens if it works but, I do believe that wider distribution is necessary, incentivizing powering up is wise and supporting the community in multiple ways is a good way to build a healthy system we can all enjoy. Rather than a trickle down effect, this is a way to essentially create a separate pull on the resource pool that heavily favours smaller accounts.
For me, I have to justify every Steem and where it goes because to me, each is important and each is a little bit of my voice on the platform. For those larger accounts that have their SP tied up delegating to bots, consider pulling a fraction of it and delegating to @steem-UA to see what it could possibly do and what effects it could have if all active users took part.
Is it a shill if I am paying to take part?
[ a Steem original ]