HF24
One thing I did not see anywhere on the list that was spoken of heavily prior to even forking off of Steem, was the governance itself. 'Oh Witty just mad cuz he's not top 20'. No. There was a major power grab before a fork was even talked about (publicly) that (conveniently) carried over to Hive. 'We'll talk about governance after we're stable.' We're firing on all cylinders here people. Let's talk about it.
Governance
By this, I mean allowing everyone a fair chance to readjust. I would even call for a complete reset and put all witness votes to zero and strip all proxies' votes at the same time forcing everyone to revote and usher in what the community feels is just. Think it'll happen? Nah, too much money lost for some people. What we can do is this:
Decaying and Limited Votes
Why is this not included already? Been talked about for two years of my witness career and probably longer pre-Witty. A simple revote every 180 days to maintain active community and witness participation adhering to accountability by everyone here. A ticker to show expiration on any site that keeps tracks of witnesses can't be that much to ask. I mean, payouts are on a timer, don't tell me it isn't possible. Heck you could revote sooner if you wanted. Is it that hard to do? Vote a witness, I mean? What's it take, 10 seconds?
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The limited votes would also prove much more soundly what the community wants. Retain the top 20 model but reduce everyone's votes to 11 instead of 30 because I ran through a random 100 accounts and most people don't even use 20. That would give everyone an equal majority vote for the system. Or maybe a 7 vote decay at ten percent with the first 2 votes being 100? There are options and feel all this was purposely neglected for this upcoming hard fork. Think about it.
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Personally, I was hoping for a reset on the witness votes as well.
You really think that this will help much ?
The problem is in my opinion that with the actual voting system a investor with 50% + 0.001 Hive can determine ALL 30 TOP-Witnesses and decide alone.
Why it is so ?
You can read in my post - and I also offer two solutions:
https://hive.blog/hf24/@udow/next-hf24-witnessvotes-how-about-accumulating-instead-of-disadvantageing-new-investors
It would make sense, especially since we are a
new chain 💪
I think the biggest annoyance I have is seeing so many long inactive Witnesses floating around high up the ranking, keeping votes from long inactive and also more political voting (is still voting the account just because it votes you back)
That said it looks a lot better in the top 100 then it did before Hive, just a little mismatched because the top twenty five still have the biggest majority of votes and nobody is really bothering to re-distribute it back around the ranks. We are still seeing new Witnesses pop up, but if it’s impossible to cover costs I think many will continue to drop back out again.
Also price feeds should be mandatory, there are too many stale feeds. It’s trivial to do and not bothering should be a good indication of a Witness value
My feed is out of date a little over a week 😝 but in all honesty, it's not wavered much. Is on my todo list to update a few things. It does look better, but very disproportionate imho. Politics man, gotta love it.
I've been in discussion with blocktrades about this on a previous post and I think they will look into it as part of HF25 about inactive accounts and witness votes.
The idea is that the power of the witness vote you've given decays to 0 after 9 months since you last cast a vote so at least all active witnesses will be visible on the list (as long as people haven't moved their witness votes for 9 months)
But I don't think they will reset the current votes
In my opinion this won't help much.
The problem is in my opinion that with the actual voting system a investor with 50% + 0.001 Hive can determine ALL 30 TOP-Witnesses and decide alone.
Why it is so ?
You can read in my post - and I also offer two solutions:
https://hive.blog/hf24/@udow/next-hf24-witnessvotes-how-about-accumulating-instead-of-disadvantageing-new-investors
I'll reply to your post now
Nine months is agreeable but honestly, we've all been 'looking into it' since I started paying attention to it. Action speaks much louder than any words will ever say. Glad @blocktrades is talking about it, be great to see some real changes.
Well, I had a discussion with blocktrades on this post when @quochuy brought up the topic of low ranked and inactive witnesses and my idea was just snub them off (the inactive witnesses that is) but without knowing the technicalities of it.
Have a read, I am optimistic that it will be sorted for the next big update but that could just be me. I'm just a bloke with 40k HP at the end of the day haha
the witness injustice has always bothered me it would really be good to see this being different here
Time will tell sweets. See how it goes.😏
This what you suggest (reducing the witness votes) is one out of two possibilities I see.
The second one is to allow accumulation of witness votes, means that you can vote for 30 witnesses and every witness receive 1 vote or only for 1 witness and he receive 30 votes, or something between.
I wrote a post about this (let's say I wrote in german and translated the post):
https://hive.blog/hf24/@udow/next-hf24-witnessvotes-how-about-accumulating-instead-of-disadvantageing-new-investors
If you want you want share your opinion with me.