RE: So...is it doable for one to have instant access to their funds? Let's talk about it....
In my opinion the whole powering up/down thing should work a little differently. The idea is that if you want to have control over things on the network like witnesses and the reward pool, you need to make some kind of commitment. So that's really what Steem Power is - it's the commitment to stay invested in Steem for a certain period of time.
The problem is that it's not a fixed period of time, it's 13 weeks from when you start to power down. Instead I think that SP should be able to be powered down instantly as long as it's been powered up for at least 13 weeks.
This way, powering up is committing to stay invested in Steem for 13 weeks, and after that you've met your commitment and can power down instantly.
Now some people will complain that that removes the security aspect of being in SP, i.e. if someone steals your keys you have 7 days to react before they can sell anything. But there are other ways to add this same security while still achieving the power down periods that we want.
And lastly, I'm not sure 13 weeks is the right number, and maybe 4 weeks is better, but no matter the number I think the method of powering down that I described above makes a lot more sense than the current system.
Never really thought of it this way. Makes sense tbh. This way one proved to be committed and could enjoy the benefit of an instant power down. I like it.
And if they decided to power up again? The same process? You should really make a proposal if you ask me...
Could this incentivize people to remain "vested" could that be a solution?
I have always been a fan of the 13 weeks, but, this actually makes a lot of sense! I hope this is put up for a vote!
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Fascinating. Hadn't considered that one.
From a security perspective I'd like to see an opt-in at account creation,
'Do you want this account's Steempower to permanently be transferable?'
along with a warning for new users to not tick unless they know what they're doing.
Then those accounts can buy/sell/trade SP. If a user's going to take a haircut for an instant powerdown (swapping his SP for a lower quantity of STEEM), then I want to be the guy at the other end of that transaction; particularly if I was planning to power it straight up anyway.
Let the market decide the extent of the haircut, and let noobs keep the current security benefits.
It is a great proposal indeed. Yet I have a feeling that those against it will find "security" reasons not to be implemented. Such as making things easier for hackers if the account is hacked
Yes, we'd want to include a lot of red flags, and bury the option a little.
"Caution, experienced users only; if your keys are compromised you will lose everything immediately."