RE: Reflections on the past, present, and future of VYB (Part 1)

Downvotes is actually very interesting social and economic experiment. Because it kinda comes with some sort of negativity, I try to avoid this topics and don't pay attention to such events. There are always better things to do.

Downvotes is actually a brilliant consensus mechanism for rewards distribution. The system is designed that stakeholders need to decide on what rewards what content or account should receive after 7 days voting window. Without downvotes the system wouldn't be complete. So it is very rational tool. The paradox is that we as rational thinkers we humans can comprehend this concept easily, but as emotional being we may react in an opposite way.

For example, I received a downvote just a couple of days ago that slashed post's pending rewards by half. Reason dictates - "great, system is working and rewards don't belong to anybody until they appear in their wallets". But emotions wouldn't be happy and question the motives.

The answer is I think in understanding where rewards come from in the first place. All Hive rewards are basically go out of collective stakeholders pockets. If stakeholders majority decide that there should be no content rewards at all, code can be changed and there will be no content rewards. Hive can function just fine without content rewards, and layer two solutions can produce content rewards.

Since the inflation dilutes stakeholders' shares, it makes complete sense that they get to decide how the rewards distribution is done. In the end, stakeholders are the ones who lose or win the most.

Ultimately, the system will grow and get more efficient as it gets more decentralized. I think we are on the right path overall, and ahead of many other attempts at creating decentralized standards for social platforms and web.

Decentralization requires participation. It looks like your content and art haven't been participating as of late. When are you going back to producing content?