There's a new economy growing on this forum - Merit

[HabBear]

I love this new merit system. And I see its use beginning to form a new type of economy here, anyone else see it?

I'm not talking about selling merit. There's been a lot of talk about such but I don't think many transactions are occurring. What is happening is that as everyone spends their merit there becomes significantly fewer people that have any to spend. So the sources become fewer and more centralized and the competition to get merit increases.

Feels like an economy on the verge of recession. Fortunately, merit isn't worth much!

[1714883441]

1714883441

[1714883441]

1714883441

[1714883441]

1714883441

[Roukawa]

In the first place, merit system is not a type of economy and not also a new form of economy here in forum.
Merit system is a protocol made by Theymos in order for the users in this forum to make a quality post. The new system wants to achieve excellence!

[goaldigger]

merit system reduce or limit the amount of users on this forum who has no serious intention on bitcoin. It doesnt mean that the new comers doesnt have the right to enter but rather they are reviewed to rank. I find merit system a good innovation in this forum. The existing users forced to limit their low quality post or topic and focuses more on an interesting one to gain merits, but recently, it is abused. The new system (merits), takes over signature campaigns and the managers requires/ in favor of users with merits. Because of this, users will farm merits to their friends just to earn the bounties. With this, the true meaning of merit system is sad to say void.

[13abyknight]

Don't get the idea of comparing the merit system currently being seen on the forum to an economy of any sort. The number of merit sources will only increase as ranking up is already getting harder. The major takeaway here is the fact that ½ of received sMerits can be sent out again, making it look non exhaustible, as long as post quality is up to the mark.

P.S. Meta would've been a much more suitable section for this topic.

[jinxing]

With the system merit.menciptakan economic growth in this forum is true. Because not a few users who already have a lot of merit misuse it and they sell it. With so merit became economic growth for them.

[jtipt]

What is happening is that as everyone spends their merit there becomes significantly fewer people that have any to spend. So the sources become fewer and more centralized and the competition to get merit increases.

Feels like an economy on the verge of recession. Fortunately, merit isn't worth much!

I wouldn't compare this to an economy. It does seem like the competition to get merit increases but the merit sources are just going to keep increasing. Comparing this to an economy is a bit of a stretch.

[Macai]

In the first place, merit system is not a type of economy and not also a new form of economy here in forum.
Merit system is a protocol made by Theymos in order for the users in this forum to make a quality post. The new system wants to achieve excellence!

The problem is, we can see a lot of a quality posts in these forum but did not receive any merits like your post here. I believe the thread is only sarcasm.

[Wexnident]

Merit couldn't compare to economy because it's just a kind of system that only use in this forum. It is only the basis of checking the quality of post, thru this it will clean the presence of scammers or spammers. Merit is a new system that I think just needed much more improvement because like others said, many people here are producing high quality post but still they didn't earn merit.

[okwang231]

the only good thing about this merit system is that they do not see the quality post so it's very hard to rank often those who are merit are those who have long been in the forum why they have implemented the merit if they can not even focus I do not care about the merit that's because people who start with bitcoin just do not know how to make a quality post. I just hope my bigysn will have the chance to rank and learn to make a quality post because we are newcomer.

[frowsiter]

I love this new merit system. And I see its use beginning to form a new type of economy here, anyone else see it?

I'm not talking about selling merit. There's been a lot of talk about such but I don't think many transactions are occurring. What is happening is that as everyone spends their merit there becomes significantly fewer people that have any to spend. So the sources become fewer and more centralized and the competition to get merit increases.

Feels like an economy on the verge of recession. Fortunately, merit isn't worth much!

I might be missing point here but the thing is we will get some sources each month depending upon the your hoarding of the merits (not advisable) and depending upon how much you spent on curating others.

Each time you curate others you get 1/2th of the merited sMerit. Thus it keeps the balance of you and the circle will keep going on and on if you are also getting curated by others. Obviously if you dont receive anything then you are not capable of sending either. Thats the rule I believe. It cant be defined as economy but way of rewarding each others.

[rowel21]

I though that merit  is  a part of new ranking system to avoid  spammers and non senses post in this forum its a way to decreases those   veteran in this forum WHO's making a multiple account  what economy  I can't see ito

[metenjean]

I think selling account and merit was prohibited in this forum but the practice still going on for long and didnt see any improvement yet, but the economy of merit that started to decreasing is good because people tend to spam less since we only can spent half of the merit we got from the others which make it harder to gave merit to everyone and it become less and less by the time. Other than merit source which can give merit anytime they wanted 

[owlman]

This system at the moment, has not shown all its merits (I believe). Even if the user tried and wrote a good post or created a useful topic - he might not get the merits. Now it is practically not realistic to get a new rank, because of Merit, but I believe that in the future the quality of the community will improve.

[Mometaskers]

I haven't even noticed. I simply give merit when I feel like it. I haven't read much of the thread in meta but I don't think merits would even require competition since it's supposed to replenish anyway. There sure are only a few members who can generate it "out of thin air".

[litepresence]

I love this new merit system. And I see its use beginning to form a new type of economy here, anyone else see it?

I'm not talking about selling merit. There's been a lot of talk about such but I don't think many transactions are occurring. What is happening is that as everyone spends their merit there becomes significantly fewer people that have any to spend. So the sources become fewer and more centralized and the competition to get merit increases.

Feels like an economy on the verge of recession. Fortunately, merit isn't worth much!

Merit system in this forum should not be compared with the economy. Merit is bough in to the forum to give quality posts so that people are ranked based on their work.

But in this system some peoples are not recognized and merited for their good work even though they have given very useful information. So this point should be considered to improve the merit system.

[rasukan]

Don't get the idea of comparing the merit system currently being seen on the forum to an economy of any sort. The number of merit sources will only increase as ranking up is already getting harder. The major takeaway here is the fact that ½ of received sMerits can be sent out again, making it look non exhaustible, as long as post quality is up to the mark.

P.S. Meta would've been a much more suitable section for this topic.

but the merit system does not change much to the post spam, even still many post spam done by new people

[Kambal2000]

We are all here to learn and to contribute to promote bitcoin and not to just earn without thinking of the real concept and the real reason why we are here. Actually, we are all thankful that we do have the Merit system that teaches us more to develop our skills to know crypto better in deep and comprehensive way and not just in investing and doing campaigns.

[salterious]

I love this new merit system. And I see its use beginning to form a new type of economy here, anyone else see it?

While I love the system, there are a few flaws in it that I think could make it better namely the merit distribution.

Fortunately, merit isn't worth much!

Maybe not for you bro because you Hero, but us lower ranks still want to ascend higher.

[cynical]

What is happening is that as everyone spends their merit there becomes significantly fewer people that have any to spend. So the sources become fewer and more centralized and the competition to get merit increases.

Feels like an economy on the verge of recession. Fortunately, merit isn't worth much!

I wouldn't compare this to an economy. It does seem like the competition to get merit increases but the merit sources are just going to keep increasing. Comparing this to an economy is a bit of a stretch.

it shouldnt be a competition though.

people should just get involved in a constructive way which doesnt mean a guarantee for merit reward.
Forget about merit the same as we used never take much notice of Activity.

There are merit sources who will feed the system with merit and if everyone spends their sMerit the system should feed itself.

[The Sceptical Chymist]

OP is right.  How does anyone expect the Philippines to collectively rank up and boost their GDP?  Seriously, the only people who care one iota about this are the fools who are trying too hard for all the wrong reasons--the ones the merit system was designed to retard the progress of. 

All of the threads about how hard it is to earn it and how unfairly the one-brain-cell shitposters are being treated means it's working out just fine. 

I've heard there is a real merit economy on the black market, but people don't seem to like talking about it a whole lot on bitcointalk.