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RE: Steem Budget Proposals Whitepaper!

in #steem6 years ago

Ok, I've read this twice and I found my doubts being answered paragraph after paragraph. It's important to evaluate worse cases and of course this makes sense.

There are only two elements to this that I can think of that might help it be a little more effective in my opinion, even thought I would not know the technical challenges this would present.

Maybe to avoid any kind of massive dumps on payout days, the payout could be made in the form of Steem Power directly. I don't think that is currently possible, if it is, I would not mind being corrected.

But this would surely dampen the effect that one day a month payouts might have in the price of Steem. If we think about it, it would take them 13 weeks to cash in completely if they simply wanted out, thus it would probably not make a difference on the valuation of Steem at all.

We could assume that experienced traders would want to use this expected drop, and I'm not sure we would want that predictability.

The other aspect I see that could be possibly added would be to effectively assign a % of the budget to ongoing projects, after initial submission and approval.

For example, lets say that since Busy.org manages to save the day more often than not, its witness and developers could tap into a small percentage every month for their continued development of Busy... I don't know how effective it would be for them to submit a proposal every month to secure financing for their efforts, it might not be practical.

This of course could change at any moment too, if a project that was supported by this budget would lets say fail to continue, then the financing could be stopped. (Maybe thru a voting system)

I'm going to give this post a couple more reads, I'm sure that if the caffeine was a little stronger this morning I could add a little more to the table.

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Maybe to avoid any kind of massive dumps on payout days, the payout could be made in the form of Steem Power directly. I don't think that is currently possible, if it is, I would not mind being corrected.

I am pretty sure it is possible. I purchased some STEEM Power from blocktrades.us, using SBDs -- so, I know that STEEM Power can be delivered to one's wallet. I really like your idea, something like, "a ~3 month CD is your payout" (except you can withdraw weekly, prior to expiration, and will have all funds at expiration).

I think an ongoing project that wants money should easily be able to spend less money than they want, to create a proposal... Especially if it's nearly similar to the previous month, it should take a few minutes to write it up.

STEEM Power can be delivered to one's wallet

It is possible to power up to another wallet even in the GUI. Click 'advanced' after choosing power up.

Cool, thanks!

Hi @smooth,

sorry for my noob's dumb question:

1. What happens when we powerup to another account, will it then stay in the other account when the option to powers down happens in 14 weeks?yes?

  1. Can we powerdown to another account? yes?/no?/(in blockchain but not coded yet in Steemit?)
  1. When you power up to another account the other account then has full control of the steem power and all of the usual rules about powering down apply (13 weeks, etc.)
  2. Yes you can power down to another account using vesting withdraw routes. That is implemented in the blockchain and CLI wallet (and maybe Vessel?) but not in steemit.com

Well this is good news then, it would be done with SP...perfect... I guess you might be right, on your second point. I could see it, how it could work.

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