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RE: PROPOSAL: REDUCE POWERDOWN FROM 13 WEEKS to 5 WEEKS.
I wouldn’t oppose an even shorter vesting period, to make things simple; what about 5 days for everything - powerdown, post payout, undelegation.
I think a shorter vesting period would reduce investor risk in uncertain markets, and is a sign that we believe in the value of our token and don’t have to force the value artificially with long vesting periods. I think EOS has just a 3 day vesting period? Not 100% sure on that.
5 days for everything and maybe even fewer days... I like it. I put 5 days since that is the regeneration time on vote power, but everything is possible. It is after all just software :)
Great Post @Fyrstikken...
Short, Sweet AND to the Point...and easy 2 understand.
I know I'd put more Investment $$$ into Steemit because it's essentially what @SirCork says below... it would be more like having a Savings Account but not having to WAIT 13 WEEKS to get Your money....
Thank You @Fyrstikken !!
You just can’t have the powerdown shorter than the post payout period in order to avoid double voting by powering up another account and voting again.
The quickest and easiest change would be to change vesting period to 7 days and not alter the post payout period, however shorter payout period promotes constant fresh content.
People do not vote much on day 3,4,5 and 6 so to have payout on day 5 also makes a lot of sense. Constant fresh content and tougher competition... I like it, but it requires a 5 day rewardpool, and las time we changed rewardpool it took us one month to regenerate... I wonder however if it would be a problem. People would just get a higher upvote until the rewardpool have adjusted down to 5 days... Interesting twist.
Yeah, agreed... posts are stagnating on trending currently, even some upvote bots limit vote purchase to first 2-3 days, I’m sure many families in poorer countries would want their rewards sooner.
Yes last time we went from 24 hours to 7 days, means rewards pool needed time to fill up, reducing to 5 days will be the reverse, slightly higher at first and then stabilise.
Hi, I'm deeply concerned with the idea of a 50/50 reward scheme...
The numbers just don't add up. At least this not where we are supposed to be driving the platform. Please read this post, I would love to have your feedback on the subject.
Tbh I’m concerned about it as well which is why I proposed if something like this is going to move ahead, at least start with 60/40 to test. Higher curation split favours larger stakeholders and may create a larger divide in our economy. Also it messes with the author funding models of apps like fundition and utopian. That being said, I don’t think such changes will be pushed in the short term as Steemit Inc is committed to completing other items on their roadmap.
The issue is that it will hit the long-term success rate of the platform. We will need always to attract and keep incentivizing new users for this place to have any value. But with this scheme, that possibility is really jeopardized :(
You mean the 50/50 curation/author rewards right? You are happy with the shorter vesting period?
Good point.
This is correct.