It's my understanding that no one controls the @steem.dao account. That account is used to automatically transfer payments to the proposal system recipients.
You are viewing a single comment's thread from:
It's my understanding that no one controls the @steem.dao account. That account is used to automatically transfer payments to the proposal system recipients.
Yes and the proposal system is done by DPOS votes if I am not mistaken, Big stake makes a proposal it goes through.
That is correct, anyone is free to visit the proposals page and vote on anything they'd like to see get funded. Any proposal that ranks above @gtg's return proposal will receive funds based on the requested amount modified by what the dao is able to payout.
So one thousand small votes gets no where. One big vote gets passed ?
Hard to say, you haven't provided any numbers. What's a "small" vote? What's a "big" vote?
Smaller votes are able to overtake bigger votes.
1000 votes of 500 HP support can be over taken easy by one account with 1 Million.
Just and only as an example.
sorry the long delay in reply. no Gina secretary yet.
Well, yes. But that makes sense doesn't it? 1,000 * 500 = 500,000 < 1,000,000. DPoS works on the underlying principle that those with higher stake have more say.
I'm not a personal fan of that ideology being applied across all areas, hence why I've moved to Hive where I feel like the governance system is open to being innovated upon & changed for the better.
use peakd ;^)
Well someone has the keys to the account right?
How does that saying go that folks like tossing around...oh yeah...
"Not your keys then not your crypto!"
I'm honestly not sure if someone has keys to that account or not. @blocktrades, if I recall correctly, was the original leader of implementing the dao project back on Steem. Hopefully they can provide a bit of clarity on this.
As far as I'm aware, @steem.dao is a purely automated system, with no human at the controls.
@blocktrades is one of the few that I actually have some respect for and trust in so perhaps it is all in good hands.
Kind of hard to know without any official word on it. It mostly being omitted from all the Hive announcements before and after the launch makes it incredibly suspicious.