Author Topic: Incentivized voting and polling?  (Read 972 times)

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Offline rgcrypto

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Yeah I thought about rewarding but somehow I don't think someone who owns 20M+ BTS would care about having a few BTS for voting.
While the small holders would feel like it is not worth voting because of their relative "voice" power.

Having a stakes in the game really is what makes me vote anyway.
The fact that I can vote in the future also incentivize me to get as big of a stake as possible before 2.0.

Maybe with DPOS hub, you could gain points/badges based on the amount of votes or polls one participate in?



Offline Permie

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My intitial thoughts on this is that it will be difficult to incentivize voting in way that does not encourage band-wagoning.
I think we need individuals to consider and vote based on their own opinion (hopefully informed).

So I think rewards based upon the outcome of the vote are a no-go.

A worker proposal that pays out from a fund an amount proportional to how many voted maybe?
Perhaps the funds are paid out weighted in such a way that being first to vote earns you more money.
The fund could hold, say, 10k bts.
The % of this 10k that will be paid out is equal to the total amount of stake that votes.
If 60% of all stake participates in a vote, then 60% of the 10k bts is paid out.
50% of the fund pays out to the first 5% of stake that voted, and then lower amounts trailing off until the last stake to vote gets a small but worthwhile amount.

This would mean that those already voted are incentivized to encourage others to vote, as the total prize pot paid out would increase in size, and they are going to be getting the lions share of it.
If the prize-pot didnt increase with the % of stake voting, then already-voters have no reason to share the prize with new voters, and they may even discourage others from voting.

Notes: Voting may be at random times.
Could there be a prize-pot for every single vote? (No)
Can voting stake be identified on the blockchain? (I think yes)
Is voting worth incentivizing?

I think this may be another 'wait and see' issue. If voting works fine anyway then there's no point wasting money on it.
Large stakeholders should care enough to vote in the best interest of their investment.
So if any incentivization is needed it should probably be spent on the little-guy.
How useful is the vote of the small players in a shareocracy?

« Last Edit: June 27, 2015, 10:59:07 pm by Permie »
JonnyBitcoin votes for liquidity and simplicity. Make him your proxy?
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Offline rgcrypto

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This tread: Let's jumpstart share based voting / polling! (https://bitsharestalk.org/index.php/topic,17204.0.html)

Is a very good idea that I can't wait to see implemented.

I am curious to know if anyone has ideas on how we could reward people for engaging in the process.

Brainstorm!