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RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)

in #hf214 years ago (edited)

Thank you very much tim, for a balanced thoughtful presentation of the ideas.

The amount of funding if the SPS is funded by inflation is also an important part.

While I am not strongly opposed to the bucket of changes, and can't support them until I hear how some of the details are worked out.

I much appreciate and honest break down of the issues.

Very dangerous ground in my opinion to drop them both at once and try to figure out which changes are having which impact.

Also, no one outside cares about this.
Edited to add:
Please tell me how other chains you are invested in handle their specific inflation POS or POW. (It's not the point, the point is most people don't know and don't care enough to have them memorized.


For sure. These changes are scorched earth and way too much at once. There might be some good aspects in there, but as a basket, this is pure poison. The more I've learned this week, I've gone from a soft and uncomfortable "yes" to a firm "no". Not only will the changes kill content; they also eliminate any remaining reason to own SP.

Exactly.... sp owners will be loosers... even the whales like steemit inc will be loosers even though they hold many... as the price of steem will collapse after everyone went to MEOS...

Didnt expect such a strong stance from you. 😁
Im still trying to form an opinion. Some people close to me hate this but i think that those people that are proposing this like Kevin will start curating more.
Maybe that helps make it better for everyone?
Im starting to do really well again on steem so i hope i wont lose it all with this change. ☺

From what I've gathered, it seems the most likely long-term funding source for the SPS will be 10% of the total inflation. This would be "paid for" by reducing the amount of inflation that goes into the rewards pool from 75% to 65%.

With this change, the inflation would be:

  • 65% Rewards Pool
  • 15% SP Interest
  • 10% Witness
  • 10% SPS

Very dangerous ground in my opinion to drop them both at once and try to figure out which changes are having which impact.

Again, this gets into "my way" vs. "consensus" way. I'd prefer to see them split up too, but there are also some valid reasons to justify combining them.

could you explain the valid reasons for combining these changes, please?

I would prefer to separate out SPS and EIP, but that gets into what I said about the change not being 100% done the way I want it to be.

The main two reasons that I see are:
-We are trying to change the culture of behavior. This is more difficult than just tweaking math. When the changes are bundled together, then the package as a whole is more likely to cause users to think and act differently than if we did them one at a time.

  • More hardforks means more support work for exchanges, which can lead to more down time and in extreme cases possibly even being delisted from exchanges.

Okay, thanks.

I'm not tech minded before I continue, and thanks for all this info in the post by the way, but has anyone ever thought about having not just one reward pool? Just something that popped to mind, could it be possible to somehow have multiple reward pools and so all the users are not all dependent on just one that can get drained too easy?

The reward pool never drains - its made of a special kind of magic called inflation. This inflation fills it everyday and then using another special power, this one called division, distributes it perfectly to all the sources. It literally can never be drained!

Oh yes! Of course! The 60k daily steem? I wonder though if somehow to have a graded system of different reward pools from the fresh tokens produced somehow separately allocated to accounts based on something like ...... ? I get lost at this point :)

Yes but we have to wait for SMTs to get that. Each coin will have its reward pool.

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