RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks
I notice STEEM POWER hovers around 60 to 70% of stotal Steem.
This means 30~40% is liquid. That is enough in my opinion and I am not aware of any shortage. Who knows if cha ging this ratio to be lower (more sp) is good?
More people are already powering down than powering up on a daily basis recently. I don't know if this is good or bad. Changing dyanics to encourage further power ups may also encourage further power downs.
SP is used for important things like sps voting rewards and witnesses, allowing exchanges to swoop in and 'experiment' for a 4 week delay instead of a 13 week delay may be a death blow because it will allow quick and potentially devestating attacks..
Changing the powerdown from 1/4 a year to 1/13 a year seems like too much risk for too little rewards.
Moving inflation from just holding sp over to the 3 days saving bank may be a safer option. Can profit from this withoutntoo much influemce and reduction in liquidity. option.
Moving inflation to savings is certainly interesting but it would have to be to the Steem savings not SBD savings, as inflation on SBD would make the peg worse.
I think tweaking the sbd bank to take steem as well would be a worthwhile option to explore. Call it Steem Power Lite if you will.
I don't think there is a particular rush to move powerdowns to 4 weeks. We have no data to support this will help SMTs because those are a long term investment even compared to 13 weeks. So holding it until a year or so later if the prices don't increase is another option.
I just have a feeling that lowering it to 4 weeks will turn Steem more into a speculative asset. There are hundreds of other cryptocurrencies doing this already.