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RE: Redistribution of Steem Power & Major Systematic Improvement - My Solution

in #steem6 years ago (edited)

I do like the idea of a Steem Power loan market, however there are some possible concerns:

  • Loans are generally given for specific time periods, there should not be an option for the lender to take it back at any time. You loan for say 2 weeks, it ends in two weeks and not before. After two weeks you can renew... or not.
  • We shouldn't be building in a policing mechanism for witnesses, it's a market, if both parties agree to a deal, that should be fine. If you need policing, something is wrong with the way incentives are set up.
  • Steem Power is worth more if pooled together, thus such a market is likely to lead to more concentration of SP and not less. Pooling SP together becomes a profitable proposition for both parties after all, splitting SP does not.

Never the less, I still think such a market can be useful:

  • If you want to take a break from Steem, (or even retire from it), you could just lend out your entire SP to someone else, who will then still be making money for you with it.
  • Many smaller SP holders could team up, increasing their total voting power far beyond the sum of their individual voting power.
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  • Loans in this case don't need to be time specific and they should not bee seen as a "classical loan".
  • Policing mechanism needs to be there to stop users from merging 2 high valued accounts to a even higher one gaining significant influence increase in the platform. Also to prevent in general use of this feature to make bigger single accounts instead of more smaller ones, solving the "pooling".
    Also this is better since only specific accounts have power, pools would allow "abusive" users to use it.
    I like the positive sides you've stated, I'd also like to add
  • High Vested accounts could "power up" smaller yet more active users.

Support for lending steempower. Suggested something like this a week ago, though not in such great detail. https://steemit.com/steem-ideas/@mikkolyytinen/pooling-votes

I'd say you could draw your sp back with a 24h/48h penalty of use after withdrawal . Voting rewards from the account would be divided automaticly according to how much you have invested(with 10% of sp in you get 10% of the rewards) and added to the pool until withdrawn.

I'd say you could draw your sp back with a 24h/48h penalty of use after withdrawal .

I don't see the aim of that penalty, what does it benefit and what not? Could you elaborate why?

Voting rewards from the account would be divided automatically according to how much you have invested(with 10% of sp in you get 10% of the rewards) and added to the pool until withdrawn.

I proposed a "share percentage slider" instead of automatic process, so that users can set their own "tax".

The penalty is there to prevent bouncing the voting power back and forth. Otherwise If i lend you my steempower and you vote, then i'd take it back and i'd have the power at my use again. That would allow manipulation by pumping up posts to create attention, and then redoing it on other post with another loan group. Of course you would lose the curating rewards from that post, but possibly gain author rewards from another. Would it be beneficial, i can't tell.

So problem if i would set tax 100 percent i would get 100% of your rewards. Then it would be close to actual transferring of steempower from rewards. Say i lend you 1000 steempower and you have 10000 of your own. And if i had more and taxed you less, so you could possibly get bigger proportion of steempower as you would normally. By keeping the rewards based on actual share you would not have these irregularities. But would it hurt if they were split differently, again don't know.

Ok the first point is definitively good, a penalty should exist. About the tax 100 percent that's up to the user to decide will he accept or not, obviously I wouldn't necessarily accept someone lending me 50.000 SP but taxing me 100% for it, that would mean all curation rewards would go to that person. The ability to set custom "tax" is there in order to be flexible, someone would like to power up a friend by taxing him less so that the SP gain of the friend would be increased.

taxed you less, so you could possibly get bigger proportion of steempower as you would normally.

That is "desired", that can be used to power up good curators.

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