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RE: STEEM Witness Blogs On Medium Instead Of STEEM 😨
Just stumbled on this post way too late. I'll throw my thoughts in just for the hell of it. The issue isn't anything vote decay will solve. The issue is that users are voting witnesses for arbitrary reasons and not changing up or removing their votes. A witness that's ranked highly but doesn't give two shits is a very minor, but existing, risk to the blockchain. A user with a lot of staked funds who votes arbitrarily is as much of a risk. The only real solution is user education.
Well with 85% of people losing interest and leaving oftentimes they may vote but then they are gone or inactive. Also if they are using a proxy oftentimes those people have their own interest that they are trying to capitalize on and isn't necessarily for the best interest of the platform.
Agreed. If people are holding STEEM, as all voters do, you'd think they'd have a vested interest in voting in good witnesses that will help their investment retain value and grow.
If we do go the vote decaying route, there's a lot of technical issues that will have to be resolved. Take a look at this Github discussion: https://github.com/steemit/steem/issues/953 (my account there is Gryter with the red/black logo).
Part of the issue is it's difficult to predict the actual results of decaying votes. We can create projections and models but we don't know how scammers will react to circumvent it and if there will be any unforeseen consequences (kinda like what happened when RCs were implemented).
It is honestly rough on STEEM because it is like it is lead blocking for all these other chains who are using DPos and have some sort of platform like this.
Even watching CPU and stuff on EOS is kind of interesting yet frustrating if you don't have much Staked.
It is all a crazy experiment for sure!