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RE: Steemit Power Down Proposal

in #steemit2 months ago

What controls do you think would be in place to prevent power down term changes? For example, a crafty user chooses a long time to get maximum benefit on the platform. The steem price pumps and they decide to change the power down time to 5 days to take advantage of the pump. It would kind of negate the whole thing.

Or would the control be such that it would effectively be the same as a long power down time to wait before allowing a change like this?

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I think they're thinking of locking in the SP for a set duration, kind of like a CD at the bank. That's the way I conceptualize it. So if you locked in for 13 weeks, you'd have to wait for those 13 weeks to pass before you'd be able to power it down and cash out.

The only wild card would be how we handle new SP rewards (curation, author, and the like) Perhaps the 4 week turnaround time might for those might not be a bad idea...

I get you. It does seem to add complexity. One for the analysis sessions. I think it might be simpler to change the term to a fixed period. Although I personally would be in favour of choosing the lockup time. Tough call!

If I'm reading the post correctly you would be able to increase stake time but not decrease. To decrease you would have to power down and power back up.

That would work although I can already imagine the howls of anger from those that just want their stake to do with as they please as soon as they stamp their feet.