Reward versus Tip
This is a post I wanted to write earlier, but due to risks, I stayed away from it.
What are the risks?
- Being as precise as possible, might keep people from reading because their head start to hurt.
- Simplify things a bit, and people will accuse me of giving false information
But, too many people have the wrong idea about reward pool and tipping. Although it feels different because you will have your own reward pool instead of a platform reward pool, the system is the same.
Platform Reward Pool
The reward pool gets 85% of the daily generated WLS. Whenever someone rewards a post or a comment, they are telling the blockchain system "I want this person to have a share of the reward pool".
That means when someone self-rewards, they feel they have a right to get a share of the reward pool. And I guess they do, if they created a good post, put some work in it, there is nothing wrong with rewarding that.
But what happens when someone posts a crap post or comment, and self-rewards, the blockchain has no idea what was created it just keeps track of the message "I want this person to have a share of the reward pool".
But what happens when someone forms a group with other users (or alt accounts) and they start rewarding each other? They are doing nothing more than telling the blockchain "I want this person to have a share of the reward pool".
Can you imagine what happens when these two are combined? Someone multi crap posting/commenting, AND having friends (or access to friend's keys, or using tokens) to tell the blockchain "I want this person to have a share of the reward pool"? Their share of the reward pool becomes bigger and bigger, which at the same time makes your share smaller and smaller.
That is where the ugly phrase "reward pool raping" comes from. People claiming a way bigger share of the reward pool than they would have gotten if we all had a little more control over how the reward pool was used.
Your Personal Reward Pool
The personal reward pool (daily-reward) amount is the result of splitting the 85% of the generated WLS in smaller parts. The calculation used, to split in a fair way, takes in account the amount of Whalestake you have in your account.
Reward versus Tip
- Claiming your daily-reward directly to your own account, is the same as self-rewarding in the HF3 setting.
- Tipping someone else's post, comment or account, is the same as curating in HF3
- Tips from other users are available to you instantly, as claimable reward. This took 14 days in HF3.
You could say, when the platform started there was a huge confidence, people would not be greedy. The community has proven that to be wrong. I am not saying everyone is greedy, by no means. There are very generous, supportive people on this platform. To protect the people who put value to the platform, the change from platform reward pool to personal reward pool, just had to be made.
Use your witness votes wisely
Jump over to the Block Producer / Witness page and cast your witness votes. Simply click on the (^) up arrow next to the witness names of your choice (consider voting for "krazywitness" and "ijmmaiwitness") and supply your private active key to lock in your vote. Refresh the page in case your vote doesn't seem to stick.