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RE: Can Witnesses Share Their Reward With The Ones Who Elected Them?
The question have the right answer in it already :)
I get the point where this can lead. But what about now? Voting is totally random and with no incentive at all for the small accounts. There maybe a better way, not just sharing revenue.
Yea just look at the orcas/whales who post dummy content, pays bots to get $$$ and people are all jumping on it curating it in order to grab the CR not because it's a good content (because it is not). When $ gain is involved, quality choice is rarely present.
If every small accounts vote for witnesses, they can together make a big difference. How to incentivize them to vote for witnesses? If I knew the answer I'd be in the top20 already 🤣. The witness maybe should be involved in the Steem life of the new member from the beginning? Such as onboarding them?
How to choose a witness to vote? I can't tell you how to choose as this is very personal but your choice will dictate who you trust to ensure the security of the Steem network.
When I joined Steem, I chose to use a vote proxy first as I didn't know who to vote for so I set as a proxy Jerry Banfield from whom I learned a lot about Steem from all his posts and videos. As I learned about Steem I started to recognise more names and discover those who were also witnesses and had an impact on my knowledge of the platform and has influenced my Steemian life. I progressively made my own choice for the 30 witnesses and also discovered more about Jerry and removed my vote for him before he disabled his own witness. As time goes by, my witness votes have been updated too.
Yea I don't know the right answer as well. But sometimes out of discussions people can draw useful conclusion.
The pro from the financial incentive is that it can lead to a lot more people voting.
The con is it can put in charge witnesses who are just sharing revenue and not doing much for the system.
So maybe a limited sharing is a nice options. Lets say 50%. Witnesses cannot share more then 50%. This will guarantee a base income for all the witnesses, and still give small Steemians incentive to vote. Just an example.
Only top witnesses will be able to do that.
I'm currently ranked #93 and last week I made USD 15.73 which is around USD 66 per month... I can't afford to share anything.
For a new witness it will be even worse, the bottom witness is currently making USD 0.45 per week...
It's the new witnesses that needs more votes but it's them who can't afford revenue sharing. If we start sharing witnesses revenue guess what happens? Higher ranking witnesses will get more votes because they can afford to share revenue...
Another con :)