if I remember correctly, the original Steem period for powering down was six months. The reasoning was to have only those with diamond commitment to actually have control over monetary policy. Then it was reduced to three months to let those with wooden hands in. Then it was reduced to thirteen weeks. Now people want to reduce it even further. The Terra/Luna network has argued for longer powerdown times for those who vote on monetary policy better than @dan ever could.
Show me someone in charge of a boat or plane who navigates large distances with a flat Earth model, and I'll show you a lost plane or boat. That aside, you're definitely right. Three months is indeed 13 weeks. I am not sure where my head was at when I said that.
Not so, it is currently 13 weeks.
if I remember correctly, the original Steem period for powering down was six months. The reasoning was to have only those with diamond commitment to actually have control over monetary policy. Then it was reduced to three months to let those with wooden hands in. Then it was reduced to thirteen weeks. Now people want to reduce it even further. The Terra/Luna network has argued for longer powerdown times for those who vote on monetary policy better than @dan ever could.
2 years initially.
Mike, New York.
Show me someone in charge of a boat or plane who navigates large distances with a flat Earth model, and I'll show you a lost plane or boat. That aside, you're definitely right. Three months is indeed 13 weeks. I am not sure where my head was at when I said that.