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RE: Fixing a Problem in the Economics of Steemit
I don't oppose a little something being redirected towards development, but if you do away with SP I'll be selling all.
I don't think all stake should be liquid, especially not when it comes to the influence when distributing rewards. That opens up the door for massive p/dumps from the people who can print fiat without limit or supervision and would like drain the life out of this project.
If there was mining I wouldn't mind so much, but if this is going to be only PoS then without collateral it would be a green light for corruption.
Well i'm not proposing to get rid of SP in this post, although on balance there's probably a more streamlined way of keeping all the benefits of a functioning economy without 3 different currencies.
I'm looking at the reactions to the article and it really makes me nervous some people are considering doing away with SP. I can see why having 3 currencies may not be ideal, but there is a reason to lock up those funds.
There are, such as security and double voting, but there can be alternative solutions. I don't think locking up supply is generally the right way to go in terms of trying to increase price.
But this is a separate issue, I am in favor of simplifying the system but I can live with 3 currencies.