Scrolling through some posts and zapping content here and there, something crossed my mind: does SN, with its reward system, create a hidden betting scheme? A description in faq for receiving rewards are:
You can earn sats from the daily rewards pool by zapping content that ends up performing well. The amount you receive is proportional to the amount of sats you zapped, how early you zapped the day's best content, and your trust level. [1]
The only determinant of a stacker's trust level is whether or not they are zapping good content earlier than other stackers. [2]
That being the case, zapping a post or comment hoping they get highly rated is like putting some sats on the winning number and waiting for other players who know the game to do the same, so the reward will be bigger. Fortunately making more agreeable and less authentic comments dont increase the chance of a higher reward because Stackers do not lose or gain trust for making posts or comments [2].
I believe someone has already made a post along these lines and I've read some comments from @k00b about the complex formula of the reward system, but still, is this anyone else's impression?
Rewards are a Keynesian Beauty Contest.
People were really hyped during that period, lots of comments. Does it have to do with the MSM mentioned? Many people brought up the point that those who stake get the benefits. Have there been any changes to the reward system since then?
You used to be able to zap your way into additional rewards over a short period of time but I doubt it is a sustainable strategy with current daily rewards amounts.
30% tax breaks this practice I suppose
Yeah, it does have a prediction-market feel to it. You’re basically rewarded for spotting good content early, which is kinda similar to placing a bet on what the network will value later.