Feedback : 4 Week Power Down
Before we go to any decision, we have to think about some question and try to find the answers as below:
- Why power up/down is required?
- What we want to achieve with this feature?
- Is this a security feature?
- Will this impact the market price of steem?
- What are the technical difficulties now?
I have read some post about this discussion and find general view about this. This feature is required as steemians think that for long term commitement /bonding with community, some say security of steem in case of hacking, General we all know we get upvote/downvote with SP.
My thought for bonding point is that, it is just a mental thing. We can't stop anyone to go, if he/she don't want to stay here (because he/she don't see any value addition here).
You can see that we have reduced 104 weeks to 13 weeks and now we want to reduced it to 4 weeks. It means there is some problem (fear) in thinking of investor about power up/down period. If steem has value no matter, if all is liquid. The market will adjust the price. We can't manipulate the price by doing this powerup/down period. If steem has any value and investor/market see good return at that price, they will buy no matter how much is the seller (who don't see the return/appreciation). If we fear on these points, we don't get anything.
We have nothing to achieve with this feature. We are only discussing childhood things that it will do this and that and all. You can take example from share market, there is no locking period and price are maintained by market and dividend will also come without any locking. Let the market decide the price of whole share/steem.
By locking (SP) we got security of our steem: No way. If hacking will done than this can be done anywhere. This is not the point and this place is not for you if you fear on this point. It means steem is not secure without this feature. What we are thinking?
Yes, this is definitely impacting the market price of steem, if we removed (zero) this power up/down period. For time being price may up/down but after some time market may settle the price. If you have any steem in your account according to that you will get the annualized ROI return (prorate basis), no matter it is liquid or power up, Like done in share market. This will give some boost to price of steem because presently, we don't get anything for having liquid steem in our account and it may get depreciated over period of time comparison with SP.
Doing 13 weeks to 4 weeks there is no major technical problem. The steem blockchain has only simply change the no 13 to 4. But i don't like this we have to completely removed this say to ZERO but this may have some conceptual problem. It may have some technical problem also, so if possible we have to set 0.5 (3.5 days) or 1 (7days). I think it is possible, but i am not sure about this.
My conclusion is that i am not in favor of 13 weeks or 4 weeks power up/ down period. I don't want this long period feature to manipulate the price of steem. Let open market will completely decide the price of steem. This will give the real price of steem. We know actual investor/seller, you have the power in your hands and if you want to use , use (don't want then don't use). We have to make this period as short as possible say 3.5 days or 7 days.
At the end of the day what we all want is good return on investment (time or money) or say better price of steem.
Looking forward for lesser powerdown period.....
So, steemians you can check out my these three post links, may be some of your interest
- https://steemit.com/india/@mehta/shilpgram-utasv-the-craft-village-of-india-part-3
- https://steemit.com/india/@mehta/shilpgram-utasv-the-craft-village-of-india-part-2
- https://steemit.com/india/@mehta/shilpgram-utasv-the-craft-village-of-india-part-1
Love Steeming, Yes to 3.5 or 7 days power down
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