Gridcoin poll: Should there be a minimum vote weight required for foundation polls? (vote until 27th February)

in gridcoin •  2 years ago

Gridcoin

Until 27th February, 2017 Gridcoin users can vote in this poll:

 Should there be a minimum vote weight required for foundation polls?

Results so far (A), on:

You can see other ongoing polls here:

Further info:

You can vote like this:

Windows users:

  • If your wallet is encrypted, fully unlock the wallet (not just for 'staking only').
  • Click "Advanced", then click "Voting" to launch the voting menu.
  • Right-click on "Should there be a minimum vote weight required for foundation polls?"
  • Click "vote".
  • You have as options: No, Abstain and Yes (with various percentages, in 5% steps increasing): e.g. Yes_5%, Yes_10%, Yes_15% until Yes_95%

Linux users (QT Wallet/daemon):

  • Fully unlock your wallet.
  • Navigate to the Debug Console (Help - Debug Window - Console (tab) )
  • You have as options: No, Abstain and Yes (with various percentages, in 5% steps increasing): e.g. Yes_5%, Yes_10%, Yes_15% until Yes_95%
  • Enter one of the following commands:
    ** e.g. vote with "No" like this: execute vote poll_mechanism:should_there_be_a_minimum_vote_weight_required_for_foundation_polls? No
    ** e.g. vote with "Abstain" like this: execute vote poll_mechanism:should_there_be_a_minimum_vote_weight_required_for_foundation_polls? Abstain
    ** e.g. vote with "Yes_5%" like this: execute vote poll_mechanism:should_there_be_a_minimum_vote_weight_required_for_foundation_polls? Yes_5%
    ** and so on

notes:

(A): Poll results on Gridcoin Research Corp are still calculated by the old formula when magnitude and balance was 50%/50%. GridcoinStats displays poll results by the new formula that was voted new ca. a month ago.

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  • currently 58% of the voter shares want 20% or more minimum vote weight
  • 94% want 5% min. weight
    people can still vote until tomorrow
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vote ended:
Gridcoin poll

  • the most voted answer is: "yes, 20% minimum vote weight required" (with 27.8% of the voter shares)
  • aggregated: 20% or more vote weight wanted by 56.85% of voter shares



aggregated details:

  • 50% or more wanted by 1.6% voter shares
  • 25% or more 29.07%
  • 20% or more 56.85%
  • 15% or more 62.49%
  • 10% or more 83.86%
  • 5% or more 94.44%
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see also NeuralMiner's comment here:

  • "if a minimum were to be set now at 10%... no foundation poll except one (and barely) would've passed in the last 4 months (at least)."
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NeuralMiner is right. If we are going to proceed with this, I think we should set the minimum at 5% initially and perhaps raise it later on, when (if) the turnout in Foundation votes increases.

I would say Yes to this, but I think we should only count the amount of active shares (i.e. staked in the last 6 months). It would be perfect if we could have something like 50% consensus on the network, but there will never be that many voting. It's achievable to have 50% of the active shares tough.

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We should only count the amount of active shares (i.e. staked in the last 6 months)

From before the creation of the poll? Otherwise, couldn't someone stake once before the end of the poll?

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What I mean is that if we say that we wish to have 40% voting requirements for a foundation poll, that's very well but the last few have only had 5-10% weight. I think this is because there are a good deal of shares that are no available for many reasons. We should count staking shares because that means we have a cap to consider. I think it would be at the end of the poll, because if someone hasn't staked in a long time, saw a poll they got carried away with and wanted to join in and participate on they should.
We could very well say we want 5% vote weight to acknowledge a foundation poll tough. But we need to understand that some shares may never vote because the coins are lost or owned by pools or exchanges that will never vote.

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Very true, the most we've ever had vote in a single poll was maybe 120mil vote weight (mag+balance) and it was for voting BU out of the whitelist.

I think a major cause of low voting participation is a lack of knowledge that a poll is underway. When we make a major announcement in the GRC community, we're lucky to reach 20% after a week or two.

So yeah, I think that we should only count active stakers (plus BOINC mag). How would we go about monitoring staking activity over the last 6 months? Scan back 180k blocks, looking for eligible addresses to which we grab the balance for? It'd be far easier for CPIDs but investors don't have a CPID.

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I think looking back 6 months (since that is how old a CPID can be before it needs to re-advertise itself) is a good way, determine the starting block to count as active stakes.

This way the poll determines the "first" block allowed to be counted in and the last block is when the poll ends. So we would actually give it 6 months + the amount of time the poll runs. This way we would make sure that only active coins (and Mag off course) are counted.