RE: The return of "locked" stake and passive earning?
I like the idea of a turning Savings into a wallet address with its own private key.
I have a problem with the 25% "curation" the savings account holdings would get. That's A LOT for not doing anything. Savings account has interest, as far as I know, it's just set to zero. I'd rather switch interest on for it and set it to a certain (low) level.
In your presentation, it looks more like our regular Steem account would be the cold storage (and it is right now), and the Savings wallet will be the hot wallet, because you can withdraw from there instantly. But I agree the holdings in the Savings account, as you described it, should not have voting rights, either because they are inactive or because they are "hot" (as in potentially speculative).
I'm a believer in markets, not in burns or other artificial methods of keeping things "under control".
Yup, I also believe the Savings account needs revamping. So yeah, I find throwing ideas out there always beneficial!
Savings attract no interest I am pretty sure. I had a few thousand sitting there for weeks, and nothing.
The 25% isn't actually so much considering they could earn much more than that easily by just automating a random vote around the place. And because the difference between that point and the 50 would be burned to lower inflation, there is a benefit for all users. Also, remember that at the time of the bidbots, these accounts were taking 100%.
I do not know if this is an ideal solution, but I do think that with a little thought and work, it could be a relatively elegant interim solution where we could test how it works.
I can't find evidence that it has interest but it is set to zero, so I might be wrong. However, if I am not wrong, then you wouldn't have earned interest on your funds in the Savings account, because interest would be set to zero -- so no interest.
Yes, but they vote on something. Even if automatically. What would the 25% be applied to if they don't vote? On what rewards? All?
Yup, I am all up for sharing our ideas. I do it often. We'll see what comes out of it.
They were also voting on themselves for 100% return and back then before EIP, no
flagsdownvotes.True! I understand what you were trying to do there, to motivate inactive accounts not to influence the curation game.
It would hopefully give a cleaner representation of the platform and content discovery. Plus no need for the burnposts or sbdpotato perhaps.
Communities will help immensely here, IMO. We are still used to look at the main site, but soon that will be a distant memory.
But for STEEM/SBD reward pool distribution, that might still matter. How much, I don't know. Rewards might be shifting towards communities as well.
Yeh, the first iteration of communities will look very similar, but once the devs have some time and will to innovate for use case, they could look fantastic and highly varied.
That may be true, but content discovery will already have a boost by organizing the content in communities. At least that's what I hope, because if we only have a few major communities and the small ones will be quasi-dead, we're not going anywhere.
!ENGAGE 25
@gadrian you have received
25 ENGAGEfrom @abh12345!View and trade the tokens on Steem Engine.
Savings account does not have any special interest feature currently. STEEM in savings earns no interest. SBD in savings earns the same as SBD not in savings. Of course, this could be changed in a fork.
Thanks for clearing this out for us! But SBD holdings currently earn interest?
The SBD interest rate is dynamic and set by witnesses. Currently it is zero, but there has been interest in the past and could be again in the future.
Thanks! Now I understand the APR setting witnesses have.