5% powerup tax.
10% instant unstake tax.
10% tax on all rewards claimed (including tax rewards)
Nah man, no way. I'd back a 10% instant powerdown tax, but you 100% lose me at the 5% power up and 10% rewards taxes unless it was only applied to whales.
It's hard enough for us low accounts to grow as is, and cutting further into every attempt to grow my account is a fucking non-starter for me. Author rewards are already 50% of the reward pool, and curation rewards for us low accounts aren't exactly taking us to the bank.
Glancing at my last 7 days, I earned between curation and author, 30 HP. With the tax, that'd be 27, which isn't a big difference but adds up over time.
I also earned 7.75 HBD, which if I converted it today would be like... 22 Hive? Powering up would result in 20.9 HP powered up.
A flat average here would be about 4.1HP/7days lost, which over the course of a year is about 213 Hive.
Small numbers, I know - but that's a floor of 100 USD (more, in a real scenario) that I wouldn't be able to use to grow my account. For me that's a significant amount.
So no, I personally, would not support this.
That's my two cents from a small-fry nobody.
The tax on rewards is simply to benefit long term authors and stakers over short term authors and speculators. You get your tax back if you stay powered up. If you power up, opt for the "free" power down, IE the 13/4 week one, you'll still be gaining that passive ROI back with your HP. So you only hit the ones that instantly power down all of their rewards without ever keeping any powered up, which are the people that should pay the most. They don't get hit that hard. They get most of their rewards, and they get them quickly, a change most would still take over the current setup.
Maybe a 1-2% tax, but certainly not 10% of my rewards...
not on top of the fact that half goes to curation and if you use a community then 10% on that meaning a lot get 40% on a post then ANOTHER 10%, so the content makers who keep this place from being an empty void of pics of a cookie get even less................. am not sure how that last part makes sense unless there is something else being altered to go MORE to the content producers favor
It is getting like a 'banky' feeling on some levels ,don't think that is an oversight either because it's like a weird 401k to get people to stake and hold which I get with some ROI but also just seems banky. Isn't decentralization about not penalizing people to be free to choose what they do either liquid or staked. Is this why Hive isn't rising like some communities are and what about them? Is this going to weed out even more 'active users' by making in essence a 30% 'payout' by using a different front end where some goes back to the community fund? op/ed have a nice day :)
Adding this in means you are taking away from people via added "code theft" from them.
Everyone powers down at some point at least a few times here and there. Adding a punishment to it so other people profit from them powering up or down is nonsensical and the opposite of the spirit of what this blockchain is.
The same aim could be achieved by making it so there is 5% reduction to total rewards given out from the pool and it wouldnt cause any direct theft.
agreed and very well stated
The key here is we all powerdown "sometimes." Well, what you leave powered up will earn dramatically more, which would offset any small tax for instantly powering down your rewards. Keep in mind, if you opt for HP rewards, zero tax, if you opt for 13week powerdown, zero tax. So authors who power up all their rewards can still powerdown 100% of those rewards without any tax.
5% powerup tax.
10% instant unstake tax.
10% tax on all rewards claimed (including tax rewards)
I really cant believe everyone is throwing out decentralization in order to add in more scammy game theory mechanics that put forward greed over Proof of Brain.
I don't want the oligarchy that is whales and dolphins in more scelhemes to profit
Rewards for curating were doubled from 25 percent to 50
This encourages people to buy stake and upvote blindly for easy money while adding nothing to the platform. Your I'll advise suggestion is putting hot fudge and a cherry on top to make it happen even more so.
Are you really that lost from reality that you cannot see these changes are only going to benefit the whales?
If you want to kill layer 1 just get it over with and make it a 90 percent tax. I'm tired of this slow bleed of bad changes. Just kill it and be done with it.
Theres no reason for adding in changes that will take away from ppl with small amounts and give to those with large amounts, because that is how it will play out. Large people taking in extra free money for nothing. Hodling is pure cancer and says NOTHING about fundamentals about the chain. This is a scheme designed to make some lose so that others gain, let's say tena of thousands lose and tens of thousands gain, you just pissed off half the users of this platform because you want to redistribute peoples money.
Why not give something to everyone? Special nfts for people who were here first year, second year, air drops of a new token for people who do things and make the token something people want because it's a good project. Theres so many things that can be done without taking from others to give to others.
Not to mention, as they power down they are stilling getting that 2% drip on rewards daily. So it will drastically raise your Hive earned vs the current system now. The only difference in this system is if you want to cash out instantly, and it gives you the choice to do so for a small fee.
This was my offer.
I mean... I guess so long as this isn't 'trickle the rewards down from whales to the redfish', and what I put in actually and fully comes back + some, I'm okay with it... but if it's skewed the same way curation is towards heavy bags, I'm definitely not for it.
Not trying to shit on your idea or anything, just like, you're not exactly having to hustle to make it here - and changes look a little different from ground floor than they do in the penthouse, ya feel?
I believe the drip would be directly proportional to the amount of Hive power you have, so everyone would benefit proportionally equally. He even suggested the drip happening every few days as opposed to daily because the extra small accounts would not be able to collect if it is <0.001 Hive.
#Safemoon is taking 10% in both directions(sell/buy), 5% of which is provided in the liquidity pool and 5% is distributed amongst stakeholders - your stake grows over time and it adds a bit different dynamic to the system.
What I find amazing, is that the system compels you to hold. Why? Well, from the moment you bought the token, in order to have an even trade, the price has to either increase by more than 20%, or you'll have to wait a bit until you compensate the initial loss.
Safemoon started out that way and you have to do it that way to get some, the spirit and rules of the crypto are known and by using it you agree to the terms.
Steem and hive didnt start out that way and taking my crypto away from me years later because you think others should get some is nonsense thinking. We didnt agree to do this, nor do we want what little crypto we make talent away and given to others. Dont add communism to this chain.
Well your'e already close of being fully liquid so I see no reason for you to worry
I'm turning most of mine liquid because I need to use it for development stuff and paying people. Not because I want to get rid of hive and dont like it.
That also doesnt invalidate what I wrote.
I wasn't being judgmental, just pointed out the fact. There's nothing wrong with selling some, quite contrary...
I sold some as well.
I've needed to digest everything, and I saw one of your comments , something along the lines "provide nfts, airdrops or other benefits to those who are part of the community for a longer time".
That's actually a good point.
Anyone who stayed through all the shitshow deserve to be compensated and rewarded, that's for sure.
I don't know this is a system that would be cool for web3. Sure it works for ponzi coins, but web3 should be easy and open.
Dapps need to move sometimes funds and so on. Tax everything doesn't work imo, is leeching the system and really projects that care.
If I understood correctly there should remain normal powerdown period, tax would come in place after instant powerdown is activated?
Btw I wasn't referring to its fundamentals, rather approach to tokenomics and as I far as I can see it worked!
Hmmm we read the same text?
Tax on power up.
Tax on power down.
Tax on rewards.
Do you think this way would work web3? From we spread tokens to we enrich the holders? Like a hidden selfvote?
I don't see any match why an Dapp should try hive if they know they need to pay for users, for transactions (RC), and get taxed if they want to release some money.
I would tax only those who want to powerdown instantly - 10% should be fine for now.
Make it optional, if a user decide to powerdown through 4/13 weeks, he shouldn't pay any tax.
As for taxing when buying, I don't see an actual point other then making it a bit different in terms of dynamics.
So, if any dapp wants to powerdown in order to distribute rewards among its stakeholders, it can do it but only if regular power down is used
but it would mostly benefit those that don't power up at all in the short term. 5% to power up or 0% to sell right away to something else?
i am not sure i see the reason for taxing powring up. i have no problem with instant powerdown if there was an option to chose do i want to use it on my account. because i don't so i don't want to give that option to anyone potentially getting my keys.
Boom! Fire....
and now my idea looks conservative, right? :D