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RE: Steemit Power Down Proposal

in #steemit2 months ago

I personally liked the idea of say a 10 week power down time frame with the ability to do an instant power down while paying a 10% fee (with multi-factor identification and/or white listed accounts etc... as protection against hacks)

Not quite sure how I feel about the current proposed option. It seems to add a lot of complexity to an already complex platform. The learning curve is steep on here and this would make it that much steeper. Need to think about it for a bit.


I think this is a very reasonable approach that should be given much more consideration. This isn't that crazy of an idea, and the burned steem could go back into the Reward Pool...

I think this is a good idea. But would you want these 10 percent to go back in the reward pool or for those tokens to be burned ? I think burning the tokens would be good to counter inflation. Because when there is a bear market it seems more people tend to power down, and that coupled with the inflation rate really hits hard on the value of Steem.

Yep, I agree. I would push for them to be burned. I am not sold on that 10% number but it would need to be high enough to counter someone voting 10 times, powering down instantly, powering up another account and voting 10 times etc and having it be economically beneficial to do so. The fee must be high enough to make that line of thinking uneconomical...

Yea it’s a bit tricky to figure out the exact percentage but nonetheless it’s a much easier and better solution then choosing how long you want to lock up your Steem