Changing the 13 weeks Powerdown period to 4 weeks
To be honest, I am not sure, if that would really have any positive effect on Steem. Are we, based on fear, changing well thought logics in a rush because of the current bear market? I will continue to think about it for a while and vote for the proposal when I am completely sure that it would really be a good change for us.
Of course, 4 weeks would be the absolute minimum. Anything else is just insane in my opinion. I can't believe that there are even a few stakeholders with more than 100k SP really considering a one week period. Did they lose their mind or do they just want to leave us as fast a possible? We are more than just a shitcoin, damn we are Steem and we have security in mind!
Steem is still the greatest, my number one and I believe in its big future. It has not failed, even if more people seem to really think that in these days. Having to see witnesses in the top ranks who define Steem as kind of failed/dead is way more negative for external investors than the 13 weeks powerdown period, I think.
Sometimes it is just the perspective on things that changes everything. Look at what we all together have accomplished here. As soon as some big gaming companies will grasp, how well Steem would fit into their products, we all will laugh about those old days of prices below $10.
Any parallels?
Take a look at the prices of gold and bitcoin. I won't call names, but exactly since the time when a few major exchanges entered the game, there is hardly any movement to the upside anymore and, if it happens, then it is being 'corrected' in a matter of a few days, so that the world can keep staring at the endless, boring line. They are playing with our minds, friends.
They are now accepting cryptos in their big companies to be able to drop each earned coin exactly as planned on the market in order to make us 'hodl an endless line' and to create false market beliefs. Same as they 'integrated' some made men into Steem to be able to drop as many coins as possible on external markets. Some of them are just here to manipulate peoples thoughts (same thing as on yt and other networks). We all have felt this for a long time, but I tell you, they lost and I think we can look back to the moon soon (from the perspective of having the moon thousands of miles behind us, of course :)
Bidbots are kind of dead, so more coins now go to people who are here for the idea of Steem and the communities, not just for the quick bucks. If you still believe that onboarding 'the masses of quick-buck-sellers' will change the Steem world for the better, please think again about the price that needs to be paid with millions of daily quick-bloggers on here. Millions of cents won't bring us millions of dollars. In my opinion, in the end the big millions will come from the gaming industry. Even with their own SMTs, the RCs to keep the network running need to be provided by staking STEEM and this is just brilliant.
Fun fact of the month
I told my family to invest ~ 10k € in STEEM when it was at $1 and they now think I'm crazy because of the current, mildly spoken, huge discount. Big intentions to sit next to their christmas tree with a 9x loss in my pocket? I am not so sure...
Investment advice
Please sell your house immediately for STEEM before the rocket will start. A way bigger house is waiting for you.
Thank me later.
Know undervalued authors?
You know an author/creator (no daily shit blog) who does not get enough votes on his/her posts? Show me and I will try to change that.
Before I forget:
@CZ please push the button man, it's getting cold outside.
Thanks.
Calm down, get out of your head, trust in your creation and Steem on ;)
Lieber @steemchiller,
heute Nachmittag hatte ich geschaut. Da warst du noch knapp im SPS drin.
Gerade eben habe ich erneut geschaut und gesehen, dass du leider nicht mehr drin bist.
Du wurdest von einem neuen, zweiten Return Proposal überholt.
“HF Proposal: Vote to Reduce Power Down Period to 4 Weeks”
Ist das denn regelkonform, dass der Autor ein zweites Return Proposal hier reinstellt?
Ist das Absicht gegen dich?
Zu dem Zweck seiner Meinungsfindung hätte der Autor auch einen anderen Weg wählen können.
Es fließt jetzt durch sein Return Proposal 1 SBD pro Tag.
Und es sperrt dich für 119 Tage aus dem SPS aus.
Ich gebe dir jetzt einen unaufgeforderten Ratschlag.
Ich finde, du solltest dich jetzt erst einmal um deine Finanzierung kümmern.
Die SteemWorld läuft, wir nutzen sie, und ich vermute, es wird keinen Blackout geben, wenn du einmal einen Tag lang nicht daran arbeitest.
Dann könntest du den Autor wegen der Auswirkungen auf dich bitten, sein Proposal zurück zu ziehen und einen anderen Weg für seine Meinungsfindung zu wählen.
Wenn das gegen dich gerichtet sein sollte, hat das natürlich keinen Sinn.
Dann könntest du in der geöffneten Liste der Voter dieses Return Proposals den oberen, SP-starken Teil auf einmal markieren, kopieren und in eine Excel-Tabelle einfügen.
Ich habe das gerade einmal getestet. Das funktioniert.
Dann könntest du genauso mit der Liste der Voter, die für dich gestimmt haben, verfahren.
Wenn du schon dabei bist, könntest du das auch mit der Liste der Voter für das erste Return Proposal machen.
Danach könntest du in der Tabelle nach Übereinstimmungen suchen.
Ich finde, die Leute, die für dich und die Return Proposals gestimmt haben, könntest du ohne Hemmungen z.B. per Kommentar anschreiben und auf die Auswirkungen hinweisen.
Die anderen Voter für die Return Proposals (mit Ausnahme derer, von denen zu weißt, dass sie dir die Finanzierung nicht gönnen) könntest du in einem Post von dir per Mention anpingen und darauf aufmerksam machen, welche Auswirkungen ihre Stimme hat, und dass die Return Proposals viel zu hoch sind.
Die meisten Voter haben sich diese Gedanken nicht gemacht. Ich habe das schon am Sonntag so feststellen können, dass einige ja sofort reagiert haben, weil sie die Auswirkungen gar nicht kannten.
Also, bitte nimm dir erst mal frei von der SteemWorld und geh‘ das mit dem SPS an. Es ist doch selbst für nicht Betroffene kaum zu ertragen, wie das nun läuft.
Ich wünsche dir besten und sehr schnellen Erfolg!
Liebe Grüße, @double-u
Hi @double-u, also ich sehe kein Problem mit dem Proposal. Auf jeden Fall bin ich immer noch über dem Return-Proposal und erhalte auch die Zahlungen ;) Wo hattest du gesehen, dass ich nicht mehr mit dabei bin?
Das Return-Proposal ist jetzt bei 12,1 M SP.
Ich dachte, wenn du nicht mehr in den grünen Zeilen bist, bist du raus.
Und über dir ist doch ein weiteres Return Proposal.
Und über den orangefarbenen Zeilen steht "INSUFFICIENT VOTES".
Ok, jetzt verstehe ich, was du meinst. Das ist wohl ein Bug auf der Seite...
Es kann natürlich mehrere Return-Proposals geben, aber die scheinen da fest das erste zu nehmen und alle weiteren fest als 'unsufficient' zu kennzeichnen. Manche Sachen will man gar nicht sehen... ^^
Auf SteemWorld (https://steemworld.org/proposals) wird es richtig angezeigt:
Das verstehe ich jetzt nicht.
Es steht doch über den orangefarbenen Zeilen "INSUFFICIENT VOTES".
Ja, weil vermutlich, sobald ein 'Return-Proposal' angezeigt wurde, alle weiteren Zeilen gar nicht mehr geprüft werden. Es wird also fest davon ausgegangen, dass es keine weiteren 'bezahlbaren' Proposals mehr danach gibt.
Die verwendete Logik in deinem Screenshot sieht etwa so aus:
Wichtig zu wissen ist, dass es kein Kennzeichen für ein 'Return-Proposal' gibt. Die Blockchain prüft nur, ob für die nächste Zeile noch genügend im Gesamt-Pott zur Verfügung steht.
PS:
Lass uns mal eine Pause mit den Votes für unsere Kommentare machen, sonst haben wir bald keine Power mehr für andere Leute. Sowieso hatte ich schon mal überlegt, ob wir uns da ein paar Regeln überlegen.
So etwas wie:
oder pro Vote 25% abziehen:
LG, Chiller
Guten Morgen, lieber @steemchiller!
Ok, dann machen wir das so, wie du es vorgeschlagen hast maximal 2 x 100% pro Tag und sonst 25%.
Auf meinen Ratschlag "1 Tag frei und um Abstand zum Return Proposal kümmern" bist du nicht eingegangen.
Ich hoffe aber trotzdem, dass du es machen wirst.
Gutes Gelingen!
Liebe Grüße, @double-u
Aha, ok, wenn das Geld fließt ...
Ich habe mich sehr aufgeregt heute Abend.
Ich finde, du solltest trotzdem mal frei machen und dich um mehr Abstand zu dem Return Proposal bemühen, so wie ich es am Anfang geschrieben hatte.
Lieben Gruß
Hi @steemchiller,
seit wann bist du aus dem SPS rausgerutscht?
Ich bemühe mich jetzt gleich darum, dass das Return Proposal reduziert wird, so dass du wieder reinrutschst.
Bitte gib mir in Zukunft sofort Bescheid, falls du aus dem SPS fällst.
LG, @double-u
Hi @double-u,
seit heute Morgen erhalte ich keine Zahlungen mehr. Nicht zu wissen warum derjenige seine (mehr als eine Million SP große) Stimme rausgenommen hat, macht mich sehr nachdenklich. Auch ist mir ein Rätsel, warum so viele Leute für das Return-Proposal stimmen, wo es doch die Weiterentwicklung diverser Projekte aufhält und wir für die meisten Projekte mehr als genug täglich zur Verfügung hätten.
Ich habe ~ 3 Stunden vorher eine Auszahlung in BTC vorgenommen, da ich schließlich auch Rechnungen zu bezahlen habe. An sich wollte ich jetzt wieder ein paar Wochen lang alles aufpowern, was reinkommt, so wie ich das auch die letzten Wochen gemacht habe.
Ich weiß, dass es aktuell nichts (sichtbar) Neues auf SteemWorld zu sehen gibt, aber das liegt nur daran, dass ich den neuesten Stand aktuell nicht hochladen kann, da ich zuerst einen großen Umbau (Umstieg auf eigene Komponenten anstatt von JQuery) abschließen muss, damit man SteemWorld bald auch auf dem Handy und auf Tablets richtig nutzen kann.
Ich sitze hier zurzeit mehr als 12 Stunden dran pro Tag. Das trifft mich echt im Herzen gerade. So ein Gefühl, wie ich es gerade erlebe, wünsche ich niemandem, sage ich dir.
Ok, werde ich machen und vielen Dank für deine Hilfe ;)
LG, Chiller
Hi @steemchiller,
da bin ich noch mal. Musste erst noch was nachschauen.
Mich würde ja mal interessieren, wer die mehr als eine Million SP große Stimme abgezogen hat. Vielleicht kannst du das ohne @ nennen.
Da bin ich der gleichen Meinung wie du. Ich finde dieses hohe Ausmaß übertrieben.
Aber du kennst doch einige der großen Abstimmer für das Return Proposal recht gut, und sie sind dir doch auch wohlgesonnen, besser gesagt, sie gönnen dir das SPS. Kannst du diese Leute nicht aufmerksam darauf machen, dass du nun so knapp vor dem Return Proposal stehst? Damit sie ihre Stimme dort entfernen?
Also, 1.482.568 SP sind nun erst mal dort abgezogen.
Erhältst du eigentlich die Zahlungen, die jetzt ausgefallen sind, hinten angehängt?
Oder verkürzt das deinen 365 Tage-Zeitraum?
LG, @double-u
Danke dir!
Ich werde dir das mal im Chat mitteilen, wenn ich wieder dort online bin in den nächsten Tagen.
Ja, das wäre dann mein nächster Schritt, aber eigentlich wollte ich erstmal hier weitermachen. Sowieso denke ich, sollte nicht ich mir über das negative Bild der unterstützen SPS-Proposals Gedanken machen müssen, sondern mindestens die Leute, die das ganze ins Leben gerufen haben.
Wenn, so wie es jetzt der Fall ist, nur ein Ex-Steemit-Mitarbeiter und einer von BT's 'Stars' ständig (und in meinen Augen viel zu gut) bezahlt wird und alle anderen nichts vom Kuchen, der für uns alle da ist, abbekommt, erzeugt das ein Bild, welches wir eigentlich nicht mehr auf Steem haben sollten. Immerhin haben wir alle 10% unserer Vote-Stärke genau dafür mit der letzten HF hergegeben.
Externe Investoren könnten sich dann z.B. fragen, ob die Firma, die in der Vergangenheit sowieso schon einen viel zu großen Einfluss hier gehabt hat, jetzt ihre eigenen Mitarbeiter einfach darüber bezahlt. Ich hatte gehofft, dass sich etwas ändern würde, aber bisher sieht es nicht wirklich danach aus, dass sich überhaupt jemand Gedanken darüber macht, wie das auf externe Investoren wirkt. Dass ein einzelner Account mit 5 Millionen SP alle anderen mit Leichtigkeit überstimmen kann, lässt den Steem nicht gerade im besten Lichte scheinen, denke ich.
Ich erhalte die Zahlungen nur, solange ich aktiv über dem Return-Proposal stehe. Verpasste Zahlungen bekommt man später nicht zurück. Es ist ein sehr merkwürdiges Gefühl, wenn man durch den Knopfdruck einer einzigen Person aufeinmal von einen auf den anderen Tag nichts mehr verdient. Als Witness würde man noch teilweise bezahlt werden, aber hier gilt nur alles oder nichts.
LG, Chiller
Hi @steemchiller,
du müsstest jetzt wieder drin sein ;-)
Bitte entschuldige, wenn ich gleich noch einen Kommentar schreiben werde, aber ich wollte dir das schnell sagen.
Bin wieder raus, da das Return-Proposal noch höher gevotet wurde. Dann muss ich meine Arbeit jetzt einstellen, denn ohne Bezahlung macht es keinen Sinn hier weiterhin so viel Zeit reinzustecken.
Kein Wunder, dass auch Emre vor Kurzem sein Proposal freiwillig beendet hat, obwohl er sogar schon Zahlungen bekommen hatte. Ich überlege auch schon, ob ich alles zurückziehen sollte, denn unter solchen Bedingungen macht es einfach keinen Spaß mehr.
So kann man auf jeden Fall keine Projekte sicher finanzieren, wenn die Leute das Return-Proposal nicht im Auge behalten. Meiner Meinung nach sollte es maximal im Bereich zwischen 8 und 10 Millionen liegen. Das sollte locker reichen, um 'schädliche' Proposals abwehren zu können.
Hi @steemchiller!
MIST!
Darf ich deinen Kommentar in einer Gruppe von 8 Leuten zitieren?
Alles, was ich hier in die Blockchain gebe, darf natürlich auch frei zitiert werden ;)
Ich verspüre den Drang weiterzuarbeiten, nicht nur weil ich mitten in einer wichtigen Sache stecke und ich die responsive Version in diesem Monat abschließen möchte, aber vielleicht sollte ich erstmal einen Post erstellen und die Leute darauf hinweisen, dass es so nicht funktionieren kann.
Nach dem, was jetzt schon an Resonanz in der Kneipe abläuft, könnte es sein, dass du schnell wieder drin bist ;-)
Edit:
@steemchiller
Es hat geklappt! Du bist wieder drin! ;-)
Du hast jetzt 100.000 Abstand nach unten zum Return Proposal ;-)
Any steem price predictions? Will we ever get back over $5?
Yes. It all begins with focusing on less drama and more on good things. Trusting in the beauty of our creations is the key. People should finally understand how much their attention changes the outcome. It's all energy. What we focus on becomes powerful, no matter what it is.
Back in the days we all were way more focused on the way to the upside than on the downsides. Today it might feel like those were just crazy times, but in reality they were true times and Steem's capabilities weren't even as evolved as they are today.
Maybe 0.05$ only. Do you believe in SMT miracle?
Depends on the final product, if it speaks for itself then funds need to flood into marketing so we have our own little ICO run
Don't see $1.00 let alone $5 being propped up. Nothing here is pushing it ever higher without overwhelming mass adoption and fluidity.
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How do you explain our 2018 highs?
All FOMO
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Hey @steemchiller I love using Steem world but I just realized I can’t get the page to load on brave browser on the most recent brave version and iOS version. Is this something you are aware of? Just wanted to bring to your attention. Thanks in advance man! 😎🙏🏼🚀
Thanks for your report! I didn't know that the page does not load on iOS and I don't own such a device to make any tests... Testing for iOS has always been a problem for developers, because one could just not do it without buying their licenses. I will see what I can do, maybe I can run it in an emulator (last time I checked it was not possible).
Did you check to disable the brave shields (especially the fingerprinting protection module, which contained a bug and was just recently fixed for some desktop versions)?
Hey there and thanks for getting back to me so fast! I tried disabling the shield and it is still stuck on the loading screen. Here is a screenshot. Let me know if I can help test further via discord or zoom or something!
Thanks, I will try to get iOS running on an emulator. Will come back to you soon ;)
Thanks so much man!
Sorry, currently no time to further investigate the issue. Maybe you can use something like a Developer Console in your browser to see and send me the error message. I will come back to this as soon as I find time ;)
No problem man I understand you’re a busy guy (:
Luckily I can still use it just fine in Safari browser.
It would be cool if @roelandp could add SteemWorld.org to the list of dapps in the SteemWallet app also.
I don't vote for it either, I think this would be a fatal mistake.
Based on what?
It protects me from myself.
Following me always vote for you
Very encouraging thoughts and statements!
Yes, I think it is possible for steem rising again, perhaps not to the moon in one single step, but 0.5 to 1 USD is likely until the end of 2020.
I'm strictly against the shortening of the power down period to 4 weeks. Steem needs long term investors, not "day traders".
A better idea is (in my opinion) setting two rules for new accounts:
The second one is to build a long term relationship to our community
Have a nice day. You in person are one of the best assets of steem - and one of the major reasons why I believe in steem.
Thanks for your kind words!
I fully agree.
Luckily I don't believe that and I am way more optimistic :) One huge player alone could change the whole space with ease, so the odds are not very good to bet on a fixed price for the end of next year. Anything can happen, but it all starts with our intentions.
Let's just say, we don't know, but anything is possible ;)
Okay so then you do that... and now all the accounts over a year old now have some kind of monetary value. So people start making a bunch of accounts today with the intention that they will sell them in a year. I already have 20 accounts over a year old. Your 'solution' just creates a really ridiculous black market.
I really don't see why there aren't more than one fork at the same time. If there's an alternative to HF22, why not do it as a community? Well, I know, this is cheap talk, since I don't operate a witness node (yet). However, that's why I'm asking!
It's normally better for the community to unite under a single consensus algorithm. Forks create split communities that can't get stuff done as quickly. Strength in numbers and all that; Network effect.
With SMTs coming out soon™ we'll have the opportunity to change the rules however we want and see if they take root.
Your suggestions theoretically could improve the price of the Steem, but many people leave even in a few months after the registration, so they will not be active for one year. At least not nowadays, because nowadays the user retention of the Steem blockchain is very bad. This may change in the future.
I prefer the 13 weeks as it is. It takes a little while for big money to move around and if they are looking to do some shady stuff they have to deal with the opportunity cost of the 13 week power down once they get discovered and flagged.
It also just provides some nice security and gives people time to discover and resolve any issues.
I do think gaming is going to be an easy place for a lot of opportunity and growth. Gods Unchained raised $15 million on ETH from pack sales. Now they are going have to deal with the cost of gas and other issues for using that blockchain. While many wish Gods Unchained was on Steem we are just not at that point yet to see that kind of money being spent on a single product in the same time frame.
Hopefully one day we will be smashing records with how much gaming companies are able to raise for release products on Steem. They can further power up some of it and use that to reward content and other stuff as you mentioned. They could even hire out people already here to help them build it since it’s a digital good.
Whatever decision will be taken to affect the power down period, its implications need to be thoroughly considered. We are not in the first year of Steem anymore to experiment without much thought about consequences, and SMTs are almost here. Community keeps saying focus should be on more adoption, and that will probably be the case. More mainstream people going in, a (more) responsible platform we need, especially regarding funds. Security for mainstream users is paramount.
On the other hand, if a new (big) investor looks at crypto as a whole and sees many top coins fully liquid and some not as liquid, but considers the whole crypto (which is not so big) as an asset class, the investor will choose the liquid investment in most cases, since he/she already takes a risk by investing in crypto. Just trying to get into their heads here.
I haven't made my mind about the proposal either yet, not that my vote will shift the balance either way.
Great (positive) post!
Thanks for your thoughts!
If it's a smart investor, he will know that Steem is way more than just a simple liquid coin and that he can earn quite well simply by staking, delegating to great curation projects or by starting his own services. There are many features we have in here, which need to be way better communicated to the 'outer world'.
Steem offers so many nice possibilities that it can't be ignored for much longer anymore. I think that reducing Steem's inflation (by adding more automated burns or moving at least the post reward pool into separate SMTs) will have a major impact on getting the attention of really huge investors.
That is what I'm hoping for as well. Maybe not huge investors, big would be enough, if we think at the whole world and investors out there. :)
Some savvy investors get a large stake in undervalued projects, if they consider they show great potential for the future, even if the stake is not liquid at first. But we need to outgrow much more our inflation rate to draw their attention.
I do not recommend selling your house for Steem. Unless you’re crazy of course.
Why? You don’t think steem will pump?
It could. But there is no way of knowing it will happen. It has the potential to both pump or dump even lower.
Having read many of the arguments on both sides, I would say 6 weeks should be the absolute floor to place some buffer on account recovery. The way people sling around their keys and give out privileges, it would take one rogue app developer to put a lot of regret on the quick power down folks. The only way I would consider a quick powerdown scenario is if we had hardware wallet support and people never needed to see their actual keys.
Would you really want to base decisions on a few foolish users that cant take care of their account?
We already have 4 keys, most blockchains have 1. Most blockchains have no staking and no 13 weeks to pull their funds. How much more security do you need?
Making the security argument seems extremely misplaced to me.
You cant base decisions for the whole community based on a few irresponsible users that would potentially lose their funds.
If you cant figure out in 1 week, let alone 4 weeks that some are proposing, that your account is being powered down, then you really have no place in crypto. Those should go back to keeping funds in a bank.
STEEM is my third largest holding, and the only one not protected using hardware or 2FA. Talk to me again after you have immediate power down ability that some people want and get hit with a 0-day attack. There are some vulnerabilities you can't escape from based on your level of responsibility. Combine that with the fact the intent is to achieve mass adoption, that means continuing to lower the sophistication of users.
There's also a difference between investing in a coin, trading a coin, or staking a coin. I stake decred and the ticket maturation period can take up to 142 days for example, meaning your 120+ decred is inaccessible for that time. When I decide to stake it, I make the trade-off.
I would argue that ANY lockup period for a potential trader or short term investor would be unacceptable, so whatever time frame you make it that isn't instantaneous, is a solution looking for a problem. So what is the problem you solve by making it 1,4, or even 6 weeks?
Then development of a 2FA should take place.
The benefits are varied. Investors would be more likely to invest and power up. The problem with Steem is that if you hold it, you suffer the 9% inflation and if you power it up you suffer from volatility due to the 13 week powerdown.
That is enough to discourage investment. I know a few former whales here that explicitly stated that they will not power up for those exact reasons.
If you allow for shorter powerdowns you potentially increase trading volume due to being able to access funds much faster. That as well brings more dynamic into the platform due to being able to powerup quickly during sideways action and play the market during the high volatility. That is why im proposing 1 week rather then 4 weeks or 13 weeks.
You can ofc expand on that mechanic even more with different proposals ive seen here in this comment section as well as on other discussion threads that would encourage longer staking times.
Exchanges are very reluctant in listing low volume tokens because they make less money and Steem by design will remain one. And we all know that more often then not more exchanges mean higher prices.
If 2FA would satisfy people on the security side of things, i see no problem with that being a part of the 1-4 week powerdown discussion.
Seems like the low hanging fruit would be to just add your savings balance to your steem power as is, but don't count it for witness or proposal voting. It's not like many people use savings anyhow. The bucket is already there, and already has a 3-day withdrawal period. You satisfy both sides of the argument with a solution such as this.
I'm not sure how you could actually build 2FA into the blockchain itself or if you'd really even want to try. It's more of a middleware problem.
I would be more for ledger integration with steem middleware, where I could pull my owner key into my ledger wallet and then integrate that with steem keychain or steemconnect. EOS already has the ability to manage multiple keys via the ledger. Hell, the new ledger even uses encrypted bluetooth which you could use to support phone apps like eSteem.
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Please sell your house immediately for STEEM before the rocket will start.
Please don't do that 😀😀😀😀.
Just sell your idea, works, art and writing on Steem Blockchain platform. It is more valuable and attract more user here....😀😀😀
Naaah.... This just my silly comment. 😀
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Why would you think 1 week power down is insane? It is insane to make investors lock up their funds for 3 months.
Why would I turn my bitcoin to steem and lock up for 3 months? Have done that. Never again.
If there is one week power down I may reconsider.
For security reasons. To be honest, I prefer to keep it in my Steem wallet more than anywhere else, because I know that then it can't be hacked/stolen, because it is technically impossible (through Steem's inbuild account recovery features).
How should account recovery work with a 1 week powerdown period, when the whole recovery process is based on a 4 weeks period? Just disable all security on Steem to be able to receive bucks quickly?
Big investors don't make short term decisions. Most of them are in for years and they don't care much about market price fluctuations in between.
The whole idea of cryptocurrency is transfer of power and responsibility to people. If I want full security I may keep my assets in the bank.
If the concern is security we can give a choice for the user/investor to enable/disable lock up time.
Volatility in crypto space is not same as in traditional markets. I would prefer choice of lock up and responsibility of security decided by the user.
Moreover, there can be security measures implemented to avoid theft. You are a developer. I am sure you have some ideas.
Security is not an excuse for 3 months lock up. That is a very long time in crypto space.
p.s. Yes investment is long term. But when investors want to get out, they shouldn’t be forced to wait 3 months.
This gave me a good laugh, thanks... ^^
Changing the powerdown period won't automatically make us do the right decisions in future. According to the following chart (daily candles), we had plenty of time (more than 3 months) to catch a good price last time and even a few months after that it came back into the $5 area.
It is not insane to have a 3 month lock-up. The Hedge Fund market was valued at 3.53 trillion USD as of November of 2018 (which is an order of magnitud above the whole crypto sphere). Hedge funds usually have a lock-up period between one and three months. Real investors don't mind it only short term speculators do.
The real question is what type of "investor" do you want to target.
You're not forced to power-up the Steem, so the comparison to Bitcoin is like comparing apples with oranges. You can hodl Steem in your wallet, same as Bitcoin. Which is why we need a dynamic range of stake-duration with increasing incentives. Those who want, can stake it for multiple months or even years and be rewarded with some incentive in form of APR, while you can have the luxury of unstacking it within a shorter period of time, but with less APR.
@therealwolf "You're not forced to power-up the Steem" we are in fact forced to power up when claiming rewards. Even if you pick the 50/50 option , a portion will always go to steempower, which when claimed is powered up and locked up for 13 months.
Oh no! You're getting free money, which is locked for 13 months? Boy oh boy, how unfair is that?
@therealwolf wow, why so confrontational ? I was simply correcting your incorrect statement that we are "not forced to power up". We are in fact forced by default by the claiming rewards function, but I am not at all complaining. Please take a deep breath and calmly understand I am not attacking you or complaining about it. Just stating the facts. Also, it is not "FREE Money". You must pay for a device to post with, pay for the electricity to power that device, pay for an internet connection if you can't find free wifi and also spend your time to post and interact and as they say "time is money". But thank you for at least replying. Also, I wrote a post about stolen keys floating around this blockchain if you care to read my blog and find a solution for it. Have a wonderful day buddy. I'm send you some positive energy, I can tell you are passionate about this blockchain.
My statement wasn't incorrect as I was referring to potential Steem investments that you bought in liquid form. You're not forced to buy those as Steempower (vesting shares), rather you usually buy it in liquid form. It's a free choice to power it up. Now I do see the problem where in order to participate on Steem, you have the 13 weeks powerdown period. But I don't think it makes sense to go the quick-and-dirty road and reduce it simply, without giving people an option to decide how long they want to stake STEEM.
Earning Steem however via the reward pool should have an even longer power-down-period IMO.
Last but not least, good post you wrote.
ok, thank you for clarification and thank you for reading my post (I gave 100% rewards away so I am not trying to make anything on it, just get some attention to someone like you so you know that it is happening).
I would be ok with that if your shorter time is about a week. The more options for the user the better. Everybody can decide for themselves.
There is no point of buying steem and holding as liquid as it is a toxic asset and diluted by inflation. Only reason to buy Steem would be to participate in the economy which will force you to lock it up.
Nothing wrong to compare steem with bitcoin as both compete to be preferred method of digital payment, transfer of value, and decentralized financial instrument.
However, I wasn’t comparing. Most people to buy steem will need to buy bitcoin first, then buy steem. Once a person has bitcoin, why should one buy steem instead of hodling bitcoin? That is the question that needs to be answered to attract any responsible investors.
I still don’t understand the objection against lower power down time. There is no evidence that 3 month lock up time benefited Steem.
I would connect rewards for long staking periods to curation algorithm. Your every vote gives you always a minimum 50% return, no matter what time you have voted on post. That would award real curators who are reading posts/watching videos before they cast a vote
If you don't power up, you incur the full brunt of 8.5% inflation, which is going to be a non-starter for most investors/holders.
That's not the case with Bitcoin (current inflation rate is about 3% and set to drop in half soon), nor with most other newer tokens and coins which have moved away from high inflation models. The few that haven't (Zcash being one well-known example) have been poorly received.
Realistically that means incurring more inflation and won't be attractive. There is no free lunch; any rewards paid to one group (such as people who lock up longer) has a flip side of higher inflation for another group (people who don't), and if the inflation is too high becomes and deterrent to invest.
One way to make the option of holding liquid Steem more attractive ("like Bitcoin") as you suggest would be to greatly reduce inflation (including both rewards paid to content and rewards paid to those who do lock up). Obviously both of those reductions are going to be unpopular with someone, but that doesn't mean they could never happen either.
I could live with that although the APR is mostly dependent on your actions as a curator and not your hold time (outside those 2%).
So really it would make little difference unless you would drastically increase the base SP interest.
Absolutely correct.
I guess this is almost a no-go, but I think I am one of these undervalued people you are writing about ;)
Wow... what a relief to read something positive for a change!
Thanks man and... I know you are not !DERANGED 😉😂👍
nice ideas there
@steemchiller,
Wow you bought STEEM at $1 and now it worth $0.15. Anyway HODL it might worth more in 2020!
!trdovoter
Cheers~
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"Call TRDO, Your Comment Worth Something!"
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VOIN DD Dividende in !trdo und sobald wieder lieferbar auch in !BEER
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"Having to see witnesses in the top ranks who define Steem as kind of failed/dead is way more negative for external investors than the 13 weeks powerdown period, I think."
Negative, but true and honest. And I prefer that over any kind of lie and bullshit. Okay, I am not a witness, especially not in the top ranks in any way. I am just/only a minnow, but I clearly see what is going on (and what is not) on the Steem blockchain.
"Look at what we all together have accomplished here."
More than 1.3 million Steem accounts, and the rapidly decreasing (dropping/falling) number of the daily active Steem accounts. Nowadays only about 30 000 Steem accounts active daily. This number was around 40 000 and 50 000 a few months ago. And even more before.
Many people are focusing only on their own blog posts, but only a few cares about other people's blog posts, this leads to a lack a real, human interaction, and to thousands of disappointed users. Nowadays I have 1008 followers, but most of them are inactive nowadays. They left Steemit (and the Steem blockchain) long (months) ago.
This is quite equal to a failed/dead project in my opinion.
"Please sell your house immediately for STEEM before the rocket will start. A way bigger house is waiting for you.
Thank me later."
Hahaha! :D
I currently do not have a house, but even if I currently would have one, I still would not sell it for Steem (or for any other thing). If I would have a house, then I would be satisfied/pleased/contended. I would happily live in it. I do not need a big house. And I do not want to be homeless either.
What you do for Steem is very good, but honesty (being honest) is also important in my opinion. I stil upvoted this blog post, and I call !trdo to support you for your works and efforts.
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@tipu curate
@giphy curate 100
A huge hug from @amico! 🤗
#sbi-skip !trdo
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When will somebody finally fix those annoying spelling and grammar mistakes in your message, which is visible all over the blockchain?
To someone with good English knowledge:
Please help 'em. Thanks!
We should really help each other more, guys ;)
When do you have time to read bot comments? :)
I don't know why, but this one 'ist mir jedesmal ein Dorn im Auge'... (germanized)
Mute 'em!
Genau so geht's mir auch. Ist ein Grund wieso ich die Token so schnell wie möglich verscherbel - so was kommt mir nicht ins Wallet!
Upvoted 👌
Powered by witness untersatz!
@steemchiller please remove the option to type and enter your active key directly into steemworld and only give the option to use steemconnect / keychain. I recently posted about stolen keys being used to vote posts. The less websites that allow users to type their keys unsafely into websites the safer our community will be. If you are interested in what I wrote just check out my account and please help us come up with a solution for this issue as well. Thank you.
@tipu curate
Upvoted 👌 (Mana: 5/15)
Du wurdest als Member von @investinthefutur gevotet!
Damn! It is the best post I read about STEEM lately.
Blinds are those who don't want to see what's happening here
There has been quite a few requests to reduce the 13 week power down time and I think, it will be implemented sooner. Apart from that, I don't see anything negative in steem and a strong believer that, it will definitely get the attention, once SMTs are out.
This post will get an upvote of our new curator account!
Dieser Beitrag erhält ein Upvote unseres neuen Kuratoren-Accounts!
!invest_vote
@kirstin denkt du hast ein Vote durch @investinthefutur verdient
I do. Check @zuerich and see if his posts deserve more. I think they do.
"sell your house immediately for STEEM before the rocket start" lol Advice taken
well, 4 weeks is like you said the bare minimum. It would be nice to get a 1/4 cash out in a week, but it would probably also encourage more people to power down... Not sure about it actually!
And someone else would buy in their place. Those things balance out. The 13 week period isnt keeping anyone here. If they want to leave, they will leave regardless but those that might want in will be discouraged by the 13 week powerdown due to high volatility.
The lower powerdown time would do wonders for the volume, something we lack, and if im honest id move that to 1 week.
Exchanges have less interest in listing tokens with low volume because low volume means less money and more exchanges more often then not means much higher prices.
true...
Hello @steemchiller, it’s been a while, thanks for the encouragement, I bet it means a lot for people of little faith about the Steem Vision. As for me, Steem is my Stake!
Please check out this school children on Steem blockchain; I think that they may fit in your criteria here. They’re coming from as far as Africa but are doing good on steem blockchain with their educational articles as well as promoting Steem to other Schools in Africa.
https://steemit.com/@gloriouskids
Posted using Partiko iOS
I see @korghawk @beatsbema @gloriouskids and @maxdevalue all send rewards to the same binance address. This (plus your name of 'max devaluation') looks a bit suspicious to say the least. Where do those STEEM really go to?
Good question @steemchiller, there’s no skeleton anywhere, I introduced them to Steem, the widow running the school isn’t a guru like you, I help them sell Steem each time the school need funds for books and other accessories for the children, I’m not in hiding about my help to them, even today they called for our country’s fiat which I’ve transferred to them for their steem. The account at Binance is mine, I’m a coin trader in Nigeria making sure that Nigerians can transact and exchange our fiat currency for their cryptos, Steem inclusive, I have account with Bittrex, LocalBitcoin etc.
@korghawk is my wife’s account 😄 we are expecting our baby girl in few weeks! My family are all Steemers and I’m loving it. Steem has helped us much, Steem gave us a shelter last year, who knows it might also help Glorious Kids build a better learning environment one day.
I’m investing in Steem that’s why you see @beatsbema where I invested on tribe tokens (sports tokens to be precise)
If there’r other ways that I can make Steem more popular in my country, I will @steemchiller.
Thanks for the Audit, I believe that sincerity remains the best way to strengthen Steem blockchain.
Thanks.
@maxdevalue.
Thank you @maxdevalue! I will have a look later the day.
Now I first need to have some sleep to recharge Chiller's batteries... :)
😄😄😄
Posted using Partiko iOS
I see power in your message
This made me smile ( to say the least)
Loss?
Have you ever heard that saying that "you got no loss until you have sold" ?
That's true. Since I didn't sell, it's not really a loss (at least in my mind), but my talking about 'it will go up soon, mom' is beginning to sound foolish :)
Soon? Do you believe in "soon" yourself?
How about "it will go up ...one day"
Twitter stopped payed tweets and Steem should do the same. Otherwise the little people have no audience and the platform no future in my opinion.
Posted using Partiko Android
nah bro
i love this part "Steem is still the greatest, my number one and I believe in its big future" and this one too "trust in your creation"!!!!
HURRRRAAAY!!!!
i'm following.
Good food for thought. Sure I know undervalued authors. I guess the problem is the 7 day mark, where those authors do not post often enough - and when quality is published, there's only another 7 day time period to acknowledge this quality.
As far as steem and the power-down period goes, @ned has not been active for 7 month now. Hasn't he been developing a next steem? Or has it been a former core steem developer who has? I'm bad in name-dropping here, but you know what I'm talking about, do you? And if alternatives arise, what's the best for investors: leaving the ship fast, is it?
Thanx for your thoughts and your kinda enthusiasm.
I agree .
I think ideas like @tworealsolutions, @theholystuhl, or @tokenindustry ´s first @xstern93,
which are trying to bound #STEEM , people , products , investors , things , services, .... .
Using @commentcoin schows it.
#ZEITZUERFINDEN
!invest_vote
@udabeu denkt du hast ein Vote durch @investinthefutur verdient
@lauch3d, @chappertron, @marcus0alameda
@zeitgedanken @isabellaklais
Ich bin leider nie dazu gekommen mir die Videos von @zeitgedanken anzusehen, aber ich werde versuchen ab und zu mal reinzuschauen.
@isabellaklais scheint sehr politisch unterwegs zu sein und ich bin nicht der Meinung, dass man über das bestehende politische System (egal welche Partei) in diesem Land noch groß etwas verändern kann. Solange Geld die Richtung des Gedachten der Masse steuert, kann es nicht funktionieren.
You're as convinced of the blockchain as I am. Only Peterchen's moon ride I can't see well, as long as such dangerous plans come from NYC. Especially the 13 weeks are what makes the Blockchain game so exciting for investors. On the Steem it is about participating in the concept.
The concept has not yet been implemented and nobody should believe that the few bloggers and gamers can keep the ship afloat for a long time. This blockchain sleeps 95 percent, is permanently underchallenged.
The Steem needs investors and their users from the area of the content producing economy and other institutions. But that's not to be done well with cowboys who shoot quickly from the hip and otherwise don't want to adhere to any general terms and conditions. As for the moon ride, I hope a little more carefully than you, dear @steemchiller. Thank you.
Translated with www.DeepL.com/Translator
It looks like it is meant for old whales who want to cash out during the next bull run. Four weeks is enough to do that. That's a normal wish.
I agree, it shouldn't be changed because why in the world do you need a 4 weeks powerdown? Steem should be a longtime investment and if people come in here just to make some quick cash they should move to another coin/site.
Steem to the moon!
That why I continue to be here for the prospect to see this blockchain shine.
Posted using Partiko Android
View or trade
BEER.Hey @steemchiller, here is a little bit of
BEERfor you. Enjoy it!Very good job guys friend
Me like it your post. Good friends
This is really amazing advice.Yes,this bad time of Steem will end and the rocket of STEEM will run.STEEM will be Rockzzzzz !! I love STEEM and have faith in STEEM.