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

[HabBear]

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.  

Haha. If anything the Merit system is keeping the expansion of the Philippines GDP in check.

I hope you're not implying that this thread is of the "shitposter" variety. I'm not complaining about anything, just making and observation about where this could be headed. It's a great thought exercise in the economic growth of this new system.

The fact that the Merit System has generated a new kind of posting activity, that was totally unintended, is hilarious if not fascinating to watch. The Meta board has to now be one of the top three boards for forum traffic. And for no reason other than this is were the threads about merit reside.

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!

Sir, an economy is created out of anything that is traded. Stocks, goods, bananas, cigarettes (in a prison). Merit certainly falls within this category. E.g., you offer good content that I find useful and I give you a merit in exchange. And given that we're talking in the Economics board of this forum, discussing how the Merit system, as an economy, will grow and consolidate is really interesting discussion.

[1715216857]

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[The Sceptical Chymist]

I wasn't referring to you as a shitposter, HabBear. 

Lately it's been my pattern that I start commenting in one of these threads about merit, and then I end up ranting about shitposters in general.   This is something I probably need to seek out a good therapist for. lol. The problem is that these idiots are noticing that a lot of merits are being handed out in meta, in topics about merit--so they think they're going to score here with their garbage posts. 

They don't realize what the problem is, how bad their posts are, and that their chances of getting merit points are akin to winning the lottery whilst recuperating from a lightning strike.

[warrior333]

My opinion is that the merit system will not change anything. This is an attempt to regulate content. In conditions of freedom, this will not have the desired effect. Somebody make money, that's all. Bitcoin has proven that any attempt at regulation is doomed to failure. Perhaps need to rely only on natural selection.

[boranes]

@OP 1 merit = 100$ in 2019  

My opinion is that the merit system will not change anything. This is an attempt to regulate content. In conditions of freedom, this will not have the desired effect. Somebody make money, that's all. Bitcoin has proven that any attempt at regulation is doomed to failure. Perhaps need to rely only on natural selection.

Two scenarios are possible:
1) shitposters will realize that their rank will never increase and they will give up and leave forum
2) shitposters will realize that they are doomed to be junior members and they will create more accounts and spam more.

[Hannahanto]

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 can observe the post contribution is becoming respectfull and meaningful. Thread is analised and post is contributed refering more sites, news and articles. This reduces the number of spaminig posts. Hope the merit system is not abused. I could come across a thread moderaters listing out those who misused giving merits to alts. The motivation behind bringing this merit system is not obeyed. Spend time in contributing informative, quality posts to help the forum.

[HabBear]

Two scenarios are possible:
1) shitposters will realize that their rank will never increase and they will give up and leave forum
2) shitposters will realize that they are doomed to be junior members and they will create more accounts and spam more.

Your scenarios don't cover everyone who is not a shitposter and is not a regular recipient of merit - let's call this group "the middle class".

Don't you think there's a consolidation scenario that's on the horizon and approaching us? If the consolidation of merit spending is great enough it will effectively halt the promotion of members to new ranks. This may not be a bad thing, I'm just eager to see if others see this coming or not.

And your scenario 2) will only be pursued by the very few people who are literally, insane. People will not continue to create more accounts once they realize that the only way to rank up is to receive merit. They'll get bored and leave...which is the merit system working as designed!

@OP 1 merit = 100$ in 2019  

Black markets are, sometimes, the "freeest of markets"...but I don't condone buying or selling merit. The buyer would be getting screwed!

[n691309]

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!

Yes, merit system wants to achieve excellence which must have, quality post on this forum is much needed.
But the merit system will never be effective 100 percent as many people are not giving merit to some post that deserve to be merit.
Most of the people here are giving to those who are faous especially in META!

[aso118]

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!

The competition to get merit will definitely increase. I would love to see how merit percolates within the bitcointalk ecosystem. The merit sources may be limited, but it is not just they who decide which posts will get merit. All those who earn merit also get smerit which they can distribute.
I don't think it should be compared to an economy in recession. The merit economy is more capitalistic (users/market rewards you) rather than socialistic (everybody advances in rank as long as they are around for a long time)

[Glorious04]

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.

I’m with you in this area. And since not all wants to give merit to posts i pity the new comers since the chances for them to be promoted to the next rank is very small. Yes good posts are being merited. By how many? How many merit do they get? 1,2? How many merit will a newbie need to get promoted?

[Glorious04]

I wasn't referring to you as a shitposter, HabBear. 

The problem is that these idiots are noticing that a lot of merits are being handed out in meta, in topics about merit--so they think they're going to score here with their garbage posts. 

They don't realize what the problem is, how bad their posts are, and that their chances of getting merit points are akin to winning the lottery whilst recuperating from a lightning strike.

The problem is fools think they are the only wise people in this world and everyone else is a fool. They are wise in their own eyes as they say they are and they have no problem in lifting up their own chairs. They think that this forum has been created for only wise people like them and everyone else who is not passing their own personal standards is branded as idiots.   

[ceferov]

@OP 1 merit = 100$ in 2019  

My opinion is that the merit system will not change anything. This is an attempt to regulate content. In conditions of freedom, this will not have the desired effect. Somebody make money, that's all. Bitcoin has proven that any attempt at regulation is doomed to failure. Perhaps need to rely only on natural selection.

Two scenarios are possible:
1) shitposters will realize that their rank will never increase and they will give up and leave forum
2) shitposters will realize that they are doomed to be junior members and they will create more accounts and spam more.

I also was thinking the same. Now people can open more accounts and +merit each other account or people who know each other will give +merit. I see mostly people  not interested to give merit. Now it is so hard to upgrade rank

[CuteBaby123]

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 was supposed to be member right now but since merit system is under implementation, I can not do anything but to wait, if there are, people to give me merit. I only need 10 merit but even a single merit is difficult to acquire. I agree that merit system is becoming an economy here. There are people, i dont know if this is true, selling their merits. If this continues, many would stuck to junior member ranks and the higher ranks gets wealthy while the lower ranks gets fewer income.

[nskendrovic]

lol. We need a ICO for MeritCoin. It needs to be on the exchanges! Everyone pump and dump some merit.


But seriously yes the new system of merit has made merit a lot more valuable but you can still earn merit if you make good posts so it is not that bad. It will help improve the quality of posts on this forum.

[Jeepney_koh]

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!

Merits are difficult to earn now especially so, most members with sendable merits don't like to give their merits to others. This will just create many posers because members with higher ranks with higher sendable merits could just make another account and send their merits to those accounts.

[AimHigh]

Merit system is not a new economy in this forum but this is the new system to eliminate or to control the users like those who have a many accounts that depending the number of post to rank up but right now it is depending on your merit to rank up and the merit was also depening on the quality of your post if it is good or not and also if someone who want to donate thier merit to you that is the purpose of merit is this forum.

[maimainguyen05]

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!

Introducing Merit system into the forum will make it difficult for members to upgrade their account. Because the forum interface is confused to get users to give Merit to others because there is not a Merit button friendly. If you want to deploy the Merit system then first improve the interface of the forum to make it easier for people to give Merit.

[CarnagexD]

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!

Merit is a system where people in the forum give to other users for them to somehow give them credit for post that can help this forum and other users.

[princesspoppy]

I don't think merits should be compared or seen as an economy in this forum. It should be used as a reward for someone who gave his/her effort in posting constructive and good quality posts. This is not a competition but rather a encouragement to users to compose and construct constructive and good quality posts but the thing is, some people thinks that this merits are one of their assets/products that can be sell in exchange of small amount of cryptos. Also, there are lot of good quality posts out there that didn't get enough attention and given merit points they deserve.

[mu_enrico]

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!

There are so much flaws in this mechanism, just like this forum, it's centralized.
It's prone to abuse of power, not in the spirit of decentralization, but more about want to protect top-ranks circle.
I wouldn't be surprised if merit will be used as commodity in the future, people will buy them in order to rank higher.
I wouldn't be surprised if more linked accounts created, simply because it's more valuable to give it to their other accounts.
The best system already exist! It's Reddit!

[HabBear]

I was supposed to be member right now but since merit system is under implementation, I can not do anything but to wait, if there are, people to give me merit. I only need 10 merit but even a single merit is difficult to acquire. I agree that merit system is becoming an economy here.

You can do so much more, you can educate yourself on Bitcoin and crypto currency and that will lead to you being able to offer more value in your posts, which will lead to people appreciating it and giving you merit.

People have given me 2 merit on this thread, and that's only because I asked a question and started a discussion that hadn't occurred yet...I brought something new. You can do that too.

If this continues, many would stuck to junior member ranks and the higher ranks gets wealthy while the lower ranks gets fewer income.

And it's this attitude that led to the Merit System and will likely keep you from reaching higher ranks. You see this place as employment, not a community for learning and teaching and debating.

I wasn't referring to you as a shitposter, HabBear. 

Lately it's been my pattern that I start commenting in one of these threads about merit, and then I end up ranting about shitposters in general.   This is something I probably need to seek out a good therapist for. lol. The problem is that these idiots are noticing that a lot of merits are being handed out in meta, in topics about merit--so they think they're going to score here with their garbage posts. 

They don't realize what the problem is, how bad their posts are, and that their chances of getting merit points are akin to winning the lottery whilst recuperating from a lightning strike.

Cheers for that.

This thing is so new that it's not yet had time to reach its full potential of changing behavior. Give it another month and you'll start to see some changes. The increase in Newbie accounts prior to the Merit System was astonishing, I've been here years and I'd never seen anything like it.

If your therapist writes you a prescription I know a good Pharmacist.