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TimCliff
@timcliff
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I love Hive!
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2016-07-22 23:28
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timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
At this point, it is highly unlikely that these changes will be made. After the hardfork, there will be the "SPS" system where users (such as yourself) can make proposals and get funding if you
$ 0.048
2
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
The goal of this is to make author rewards higher - for the authors who are actually contributing. Whether it will actually work as hoped remains to be seen.
$ 0.000
1
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
Honestly, we are pretty close to "bottom" right now already in terms of whales just taking as much as they possibly can. It can't get much worse than it already is. The system needs to change
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
More than anything, the hope is that more votes will go towards actual contributions after the incentives are changed. While authors may be getting less of the overall percentage, more could go towards
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
Well, the hope is that after HF21 - these things start to improve.
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
That will already be supported. Users will be able to transfer SBD to the account and it will be added to the fund. There are also some discussions on trying to make beneficiaries work as well, so users
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
Yep, that is the idea.
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
Time will tell. From what I've heard, it will not have much of an impact on the costs for consensus (witness) nodes. It's a bigger deal for 'full' nodes and exchanges.
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
That is closer :) It technically gets even more complicated because 100% of the curation does not go to curators (if votes are placed within the first 15 minutes). But it is the correct line of thought.
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
The math works out a little bit differently, but basically yes. As I said in the post, a "more than 50% reduction".
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
It was discussed at length. My 'vote' was technically for a 10% reduction in witness pay too (as well as SP inflation). The main reason against it though (that I do agree with) is that it affects backup
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
From what I've gathered, it seems the most likely long-term funding source for the SPS will be 10% of the total inflation. This would be "paid for" by reducing the amount of inflation that goes
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
I was personally leaning towards pulling a little bit from each of the three inflation sources (rewards pool, SP interest, and witness pay) so that the SPS had around 10% of the inflation. The consensus
timcliff
hf21
7y
RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)
We will see.
timcliff
busy
7y
RE: Hold On The Panic Is Coming...
Now they have decided that the Authors earn to much This is definitely not my position, although I still need to work on articulating it.. I plan to do a post within the next week or so with my views on
timcliff
dpoll
7y
RE: As a top steem witness, will you support a hardfork implementing the “Economic Improvement Proposal” or “EIP.”
Voted for YES
timcliff
steem
7y
RE: Finally Powering Down my Steem. Enough is Enough!
I would love to be able to come back in a year's time to see things going completely the other way. But to be honest, right now I just don't know what to do. Well, if anyone was able to know for sure whether
timcliff
cryptocurrency
7y
RE: Layer 2 Protocols: Functionality as a Mode of Micropayment
please stop memo spamming me
timcliff
steem
7y
RE: Finally Powering Down my Steem. Enough is Enough!
It's sad to read this. Not just because I find myself agreeing with most of it, but also because I think a large portion of Steemians feel this way. At this point, it is hard to find people here who are
timcliff
mira
7y
RE: What is MIRA?
Great work!
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