I think this is LONG overdue. I wrote about this briefly in this article. In this article, I will detail a way to promote this through rewarding this!
This post was triggered by seeing a comment on here. It reads:
Reward Pool
Basically, save 10% of the daily rewards pool (authors get paid 10% less) for content older than 7 days. At the end of each month, authors with upvotes on old posts (7+ days) will receive their share of the monthly accumulated rewards pool as Steem Power (SBD converted into Steem power at the $1 peg). This will prevent a sudden influx of Steem on the markets each month as that would cause the price to be unstable.
Practicalities
You can upvote old posts like normal! However, it will only consume 10% of your normal vote power.
E.g a 100% vote at 100% vote power will cost 0.2%, instead of 2% vote power.
This is because authors with posts older than 7 days are sharing 10% of the rewards pool, thus upvotes should only cost 10%.
At the end of each month, you share a portion of the accumulated rewards pool proportional to the amount of Steem Power consumed.
- Someone vote 100% at 100% vote power with 1000SP = 100 SP consumed,
- 50% upvote at 50% vote power with 1000SP = 25 SP consumed
This will create more incentive to create long lasting knowledge!
Actual payouts
Some months the total amount of SP consumed by upvoting old posts might fluctuate, so payouts will too.
E.g total SP consumed = 1000 in a month, 10 SP was consumed on your posts, therefore 1% of the monthly payout will be to you.
The monthly rewards pool for older posts = the accumulation of 10% of each day's rewards pool, reserved for the end of each month.
Implications (positives and negatives)
- Authors will feel more rewards posting content that withstands the test of time
- Authors rewarded once per month, not too much strain on blockchain
- Reduce the amount of SBD issued, could cause SBD price to increase more as there's less supply
- Higher percentage of post rewards are put into Steem Power, thus less supply of liquid steem on market and more long term investment in Steem/Steemit, thus probably increase in price
- Steemit next Wikipedia???