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RE: Adjust your witness votes!

in #hive • 5 years ago

"First off, there's no more reason to use all 30 votes. You don't lose out on anything..."

I note this is mathematically incorrect. The stake of voters influences governance only when it is deployed. Users that do not cast 30 votes influence governance less than they can, and this effectively increases the relative influence of those that do cast 30 votes.

While you are absolutely correct that casting votes for witnesses you know nothing about is potentially harmful, that potential can be eliminated by learning about 30 witnesses. Not casting 30 votes is actually harmful by increasing the relative power of other voters over yourself.

"...setting a proxy also delegates your SPS votes: I vote on very few SPS proposals..."

I assume you are talking about HPS.

Also, if I delegate my witness votes to a proxy, when I vote for a witness directly all of the proxy votes are withdrawn. Does voting on an HPS proposal directly also withdraw proxy?

Thanks!

5 years ago in #hive by
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     5 years ago (edited) 

    I note this is mathematically incorrect.
    [...]
    Not casting 30 votes is actually harmful by increasing the relative power of other voters over yourself.

    It's not harming anyone except you assume an attack to be going on. It's not necessary to exert the maximum influence, you do not lose anything as there's nothing to be gained from voting witnesses. Or do you see the amount of vests you contribute to the total voting as some form of currency or badge?
    From another reply:

    So what is the effect of switching a vote exactly?
    Removing a vote from a top witness: doesn't influence anything at all, as long as it doesn't make it drop out and someone else get in
    Adding a vote to a top witness: doesn't change anything except making it harder for backups to replace them
    Removing a vote from a backup witness: lowers the rewards for that one, raises the rewards for all other backups
    Adding a vote to a backup witness: raises the rewards for that one, lowers the rewards for all other backups

    It's definitely possible to find 30 underrated witnesses, but it takes time. It's better to avoid voting when not informed, and add votes one by one.

    Does voting on an HPS proposal directly also withdraw proxy?

    I would expect that.

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