You are viewing a single comment's thread from:

RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks

in #steemdao5 years ago

The reasoning behind your comment is plain stupid. Sry. 99% of cryptos don't have a 13 week powerdown and they function perfectly well. Security? You offered such a fringe example that happens in 0.1% of cases here.

The 13 week powerdown is extremely detrimental to the price of steem and offers basically nothing.
Adjustment could be made for the person staking to stake for however long he wants or 2f authorization added.

All those things can be added as long as the 13 week powerdown is eliminated.

That's the single biggest culprit in steem being at 80th in mc

Sort:  

Do you not even notice that I propose 1 week powerdown alongside 13 weeks powerdown? I just want the 1 week lockup to not have any voting power for witnesses and proposals. if it's possible to keep PoB from being gamed without lockup at all then the 1 week powerdown can be eliminated.

In Steem we use our keys an awful lot compared to other cryptos. When this chain become more popular, if that ever happens, incentives to steal accounts will be way bigger than now, Compromised accounts will still be fringe cases but will happen a lot more often. 2F auth doesn't protect anyone that got their key(s) compromised unless it's implemented on blockchain level.

If custom stake period is implemented I want staked STEEM have vote weights for witnesses and proposals proportional to the stake period.

If someone doesn't want to stake their Steem for 13 weeks, can't they just buy liquid Steem?

I think you forgot to mention that Steem CAN be bought, just like any other liquid crypto like Bitcoin.

  • That is what liquid Steem is for and IMO there should be a clear distinction between liquid Steem and Steem Power.