Wouldn't allocating 3% more to authors and witnesses achieve the same but keep the functionality of Steem Power? Steem Power has uses which aren't trivial.
@steemit Inc has stopped powering down. This indicates to me that 1.5% interest isn't negligible even for the richest Steemian.
@demotruk's comment on the 1.5% interest and its implications for Steem's economy should also be keep in mind when discussing this issue.
Also can we really revote with 1/13th of the Steem? This means payout period can be longer than 7 days? Or am I missing something else?
I hope the comment that you replied to made it clear that I'm not in favor of eliminating steem power?
As to reallocating the interest, the more I think about it, the more ambivalent I become. As far as I'm concerned, at best it's a low priority to make any changes at all to the block chain economics at this point. Steemit can already get revenue for development from reward splitting from HF17/18, so they don't need a separate development fund. The developers need to focus on improving the user interface and supporting entrepreneurs. The antifragility that comes with numerous entrepreneurs driving their own growth on the blockchain is where the explosive growth will come from.
Not sure about this. I seem to remember reading something that said that we lose our voting power at the beginning of the power-down week and we get the withdrawal at the end. If that's right, then we wouldn't be able to double vote because the steem power would be "offline" for 7 days - an entire payout cycle - before we could transfer it to someone else or power it up again. I can't find where I read that now, though, so I might be misremembering.
I understood you weren't in favor of eliminating Steem Power.
I also think as you said that it's not possible to vote twice with the same stake or 1/13 of it but it would be nice if this could be confirm.