The idea of the power down tax is a good idea but maybe a gradual %. So the person who wants to power down at the quickest rate, taxed the highest. Then the % decreases gradually if they wait longer and eventually 0% if they wait the longest period ie 13 weeks.
The the other taxes I am not really buying in at the moment as I don't see a big benefit and in particular the power up tax i think may take away any interest if anyone wants to invest into Hive. If the fees are returned back to the powered up accounts given back quickly (within the day/3days) we may see it as an attraction. I'm not a big numbers person but the first instinct is putting a tax on for anyone who wants to power up already puts us on the back foot.
This is a very clever idea. A sliding scale would be awesome.
A few years ago I was very against of power down when whales do it at same time and even on small accounts but when there's a huge number of accounts it costs inflation but maybe because I was worried about my own investment and before when I had over a million pesos invested on this platform is something that you can't overlooked how much more for people that have a huge stake.
"ITS EASY TO BRING CONTENT CREATORS ON THIS PLATFORM BUT NOT REAL INVESTORS."
I think it's important that we also take care of investors not only the content creators.
Am okay with the power down tax, I think having an option to power down in a shorter period of time will attract more hive investors, and of course we all want to take some profit if we see a good opportunity, unless you're one those richest person on earth and wants to help the hive community and not touch your money at all. 😉
Although I don't think the other taxes would make other people happy. I don't mind it, I think it will really benefit in the long run but we also have to consider that some or maybe a lot people here rely on their hive income and it would really hurt them. Especially there's a lot of authors that not even getting any value with their work.
Anyways, am open any changes as long as it'll benefit everyone in the community.
-Gil
But a lot of people willingly pay 2, 3, 5% fees to provide liquidity on DeFi platforms...of course if the benefit of powering up is there, people will take it, just the same way they see benefits to paying fees for providing liquidity.....no?
I like the scale idea
Depends on the roi and what % people will get back in return either daily or weekly. If the return works out enough to cover the tax, it may be attractive for investors like some of the defi platforms out there. At the moment, I think Hive gives just over 3% apr for holders but taxing 5% looks like a loss instantly unless the % is reduced significantly. I am just looking on the simple level of attracting investors, what return will they get and why they want to invest with us where there are many other defi platforms out there providing good daily returns.
Many of us on here are Hive lovers so there is no doubt about that but to get new faces on here willing to put in their money, invest and lock it in, we need to think in their shoes.
While the power up "tax" may seem off putting, the high APY for powering up will be very attractive. In DEFI, entry fees are normal. Your stake for a high APY, pay a fee, and stake long enough to ROI + profit. The only ones hurt from a entry fee are those that leave quickly. Every person that leaves makes the APY higher for everyone else. Adding a entry fee can raise the APY by a lot. It wouldn't see so, but it really does pack a punch, esp in a bull run where prices are voilatry, and emotions are high. The tax on rewards does not affect powerup rewards, only those that people cash out. Therefore you give more to long term authors (powerup) and less to those that constantly dump. This would net long term authors way more profits than if it wasn't here. So really, we are taking from those that take from the system and giving it back to those that give to the system by not selling.