Introduction
I’ve been reading many really good articles on how Steemit is working and i’m amazed by the community’s ingeniosity. The reward system for curators, writers and traders is genius but need some adjustments. You can understand how they work with these two articles written by @steemitblog.
In fact, the community has enlighten some reward « exploit » that need to fixed quickly. I wanted to write this article to give an overview of the reward situation without being too technical.
Curator’s Reward
Some steemit users where using bots to instantly « upvote » famous writers posts to get the big part of the curator reward without reading the article. Obviously the curating job was done, not in the best way, but it was done. Indeed, posts from famous authors do not really need to be curated, people believe new posts will be as good as the previous. Unfortunately, sometimes it is not.
The recent adjustment made with the curator’s reward is clever, it more fairly share the reward between authors, article’s readers and bots by giving time to effectively read and decide if the post deserve an upvote.
Here is a good article co-written by @steemship and @the-alien to understand the adjustment made :
How to Vote Smart and Profit From Steemit’s New Reverse Auction Voting Rewards (Just Implemented!)
Author’s Reward
On the Steemstream website created by @roelandp we can monitor every activity on the Steemit website.
I’ve seen some users posting articles at a frenetic pace and found out that they were just copy-pasting articles from other websites in order to make profit on Steemit. Measures has to be taken, because stealing content and making profit with it is a serious issue. The reputation of the whole community is at stake.
Here is a good article written by @grittenald giving you tips on how to use external content properly : Copy Paste Steal. Cite your sources.
Liquidity Reward
On the internal market, providing liquidity by trading Steem is rewarded.
Some steemit traders have been using bots to provide Steem liquidity to the market but finished by taking advantages of the liquidity reward system.
Here is an article written by @gavvet on this issue : The Liquidity rewards bot is too effective or defective.
Conclusion
Steemit is still on beta, and need time adapt. I believe users will adjust their behavior to this new sets of rules and founders will come up with new adjustments to maintain equity in the reward allocation.
Because Steemit is about transparency, here is an article written by nanzo-scoop giving us a list of the top paid curator : Steemit Curation Rewards “TOP TABLE”- perception is not always reality!