RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks
I'm all for four weeks or even one week. I don't think it is demonstrated that these long lockups provide clear benefit at the system level. Yes there are benefits to an individual whose account gets hacked, but these come at a cost of adding dead weight (which then contributes to everyone losing 99%+ of value) to the system as a while. I'm not sure that is a good trade-off.
If people want a longer lock-up for security purposes then perhaps the savings account feature which has never been used much can be repurposed to a voluntary longer safety-focused lock up.
There are also other approaches to reducing hacks such as building in 2FA with a mobile app. Lock-up is not the way to do this.
I'm sure there are people who will deny that Steem's misfeatures such as long lockups and high inflation are responsible for its price decline but frankly speaking I think that is 99% bullshit. Yes it is a bear market and yes crypto coin prices can have a mind of their own, but most of the reasons Steem has declined from a top 10 or maybe top 20 coin to barely hanging on in the top 100 are bad design and execution decision of our own making.