Unrelated but 3 months withdraw period should be reduced to a week or something.
When people see they can not take the money out they think scam. I don't see the point of locking people's money, it's just creates unnecessary barrier to entry. Also It's important to be able to remove weak hands from the system as fast as possible. Some whales will be tempted to dump at rock bottom price which is good because other will be able to get in and the price can start rising again..
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The reason for the 3 month withdraw period is to prevent (really limit) the ability to move stake and vote on the same post multiple times with the same stake from different accounts during the 30 day second reward period. There was a proposal from steemitblog to get rid of that (replace with one 7 day period), in which case the 3 months could reasonably be reduced to something like 3-4 weeks.
After HF17 when we only have a 7-day payout delay, I guess we can shorten the divest period again.
Yes, that's exactly what I said (last sentence)
Thanks. I guess I was blind.
Unrelated indeed, given we just went from 2 years to 3 months. I think you're going to need more researched arguments to start to challenge that.
The argument is very simple. I've refered to it in the past actually.
Throw someone in a cage and ask him how eager he is to get out.
Now throw someone in a cage with the keys and ask him the same question.
The idea that people need to be locked in to hold is stupid, using force to achieve something is never a good solution.
Did the 3 months locking period prevent whales from selling? did it prevent the price to go very low? NO. All it did was slow down the price discovery process and delay transfer from weak to strong hands
Would people buy more bitcoins if they couldn't move them for months? Nope, they would do the exact opposite. People want control over their money, they want to be able to access their fund at all time. If you remove this ability from them you are not going to get any investment from them.
Also I think the market would be healthier with a short lock time period as there would be more liquidity.