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RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks

in #steemdaolast year

I'm sorry to the witnesses whom I've supported for a long time but I can't keep voting for you guys if you support this proposal. To me removing the long term commitment aspect of Steem Power would be the antithesis of what Steem is about.


4 weeks is still rather a long lock-up period, Whaleshares has a very long staking period and afaik hasn't really helped them much. People should take the long-term view voluntarily rather than forcefully at blockchain level. If the concern is that existing investors would divest, they have had plenty of time to do so already, especially those here since 2016, they have had many full 13 week cycles as opportunity to divest fully.

4 weeks provides no financial incentive at all for voters to be concerned for how their voting affects the long term value of their investment - they can always divest within 4 weeks and have little incentive to bed concerned for the long term health of the network. Unlike Bitcoin, there is no investment in physical hardware that will become worthless if the network does; there needs to be some other mechanism for tying voters interest to the long term health of the network

Not sure, for myself it doesn't matter, I wouldn't dump my SP even if the vesting period was shorter. It comes down to us wanting people who want to be here voluntarily rather than people who are stuck here because of long vesting period, i would rather those people be gone.

People DO take the long-term lockup volunterily.

Everyone that doesn't want their Steem staked, can simply buy liquid Steem.