RE: RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks
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RE: HF Proposal: Vote to Reduce Power Down Period to 4 Weeks

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Steem needs to be simple for users, we cater for more normies than EOS does so we shouldn’t get too complicated, Dan tends to make things too convoluted and technical for the average user. We already have 3 currencies on Steem, adding an extra pool is akin to having 4. I don’t think a 4 week pd schedule will create a governance issue, take for example a major shareholder in a real world company stock, there is no lockup period traditionally unless that was the terms given in a buyout or something but that won’t be common, investors in such stocks still exercise their voting rights for the good of their investment same as if you own a property in s body corporate, you can sell it anytime but doesn’t mean while you hold the property you will make malicious voting decisions at meetings.

The issue with EOS and alot of crypto is the quality of investors, no matter if the lockup is short or long, a bad acting large stakeholder can still help mess up the project.

For myself a short or long time period won’t change my decision making process, my investment in Steem is my time over the years that makes me invested.

I do like your point about the burn being a huge security risk and defeats the object of the security feature of the 30 day recovery period.

I also urge users to split their stake across multiple accounts and for ease of use can delegate to the main account. Having as shorter pd period can help users decentralise their holdings in this manner for increased security.

@thecryptodrive: Steem needs to | Ecency