Let me guess... the world will hear about THIS change, this time?
Lol. Prolly not. I mean there is no turnkey solution. You dont just tweak a small thing and think it changes everything.
You keep tweaking shit, trying to improve something somewhere.
Maybe this doesnt get changed, i mean Blocktrades is voting against so thats slightly telling on what stake thinks about the 4 weeks reduction, but at least we know where we stand.
You have to try and do something.
We know about the 13 weeks. The speculators dont have to know. The long term investors can take advantage of that as well.
Short term speculators speculate, long term investors accumulate and get a payout.
*edit: seem to be suffering from some technical difficulties and shoddy internet connection all at once. Ignore the edits, scattered thoughts, and multiple instances of the same words.... damn.
When it was... shit. I can't remember what it was when I started. 50 weeks... I dunno. That made sense. We got people bitching about those creating, earning, then selling. Well. Deal with it because they wanted less time. Perfect world I should have had millions in my account by now, powering down my yearly salary, one week at a time, like any other normal human. Speed up payday so OF COURSE, yes, money flies out faster than it can come in. Feels like common sense....
My focus, for the past few years, once I realized it, was the fact consumers are supposed to step in, act as 'curators', stake tokens, support their favs, at a rate that involves consumers/curators buying in, more, than what can be sold, due to long power down times. That made perfect business sense. CHIMED.
It fit well. The balance is gone now.
Finding ways to make extraction easier, quicker, more convenient; for hundreds of people(potential sellers). NOT doing anything to make it easier for the millions of CONSUMERS to purchase, in less time(potential buyers). Marketing is meant to attract millions. Out of those millions, only a few are big time investors. Catering to this tiny minority, but mostly just making adjustments so current stakeholders can get out quicker, this all seems kind of pointless, but whatever.
People are concerned about security. Not realizing one well placed rumor, some disinformation and the panic to follow is all it takes to weaken governance when combined with a shorter powerdown. The shorter that period is the easier it becomes to cause mayhem with just a few simple words. Tank the price, then move in.
This really doesnt have much to do with extraction. Its more about enticing investors to invest and stake.
There is about 35% of total HIVE staked right now. Lower powerdown times would entice them to power up. Thats all this is about.
No one is proposing a powerdown reduction so everyone can sell. That would be crazy.
A lower powerdown time would potentially increase staking and remove Hive from the market which would drive the price. 35% is extremely low. ADA has more than 75% staked for example.
I know where folks are coming from, including yourself, when that potential positive outcome is explained.
There are many ways to approach Hive. I can settle with four weeks or whatever since that too could benefit the consumer class which is what I feel is lacking. Maybe once folks notice the investor class outside of Hive still isn't interested much in this project after these changes, Hive can work on converting consumers into the investors Hive seeks. All I truly want to see from the consumer class is them staking tokens, rather than tipping, since this business model is a far better deal to them over the long term. No need to throw those billions they spend supporting content away anymore, and I see a lot of potential in having what was once meant to be disposable income now locked into this beloved blockchain of ours. And because Hive offers its own unique menu, I rarely look at what other projects are doing, hoping to emulate. Seems like that's what many projects are doing now, trying to be the all in one solution. That'll only lead to thousands of projects all offering the same thing, giving investors no real reason to invest in any one in particular.
But like I keep saying... Just do whatever. Maybe I'll be wrong and this will change things for the better, so it's fine to be wrong. I expect to see more of the same though and since consumers are destined to benefit from the hardfork quite a bit, I'd still rather, at some point, continue to focus on that market. The other markets are still important though. I don't discount that fact.