This is a great idea. So many of us here have thought about this once or more. It would bring in more investors because personally, I think 13 weeks is a very long time.
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This is a great idea. So many of us here have thought about this once or more. It would bring in more investors because personally, I think 13 weeks is a very long time.
But couldn't investors with less of an appetite to have their funds locked, just buy liquid Steem instead?
@thecryptodrive is in favor of eventually making it 7 days by the way, which would completely destroy the distinction between Steem and Steem Power.
You are assuming, no I am not in favour of making it 7 days, it is what some people have suggested and I have just said we start with 4 weeks and see how that works out, clayop and others are keen for 7 days, I am cautious of that, but open to discussing it. Initially I was quite open to 7 days, but after reading comments here I now stand at 4 weeks being a nice balance.
That's actually what I gathered from your comments on this post but I didn't check which of your comments were the most recent @thecryptodrive.
As much as I am not in favor of a 4 week Power Down I would be much more comfortable with it if we applied @tombstone's idea since 1 week is too short of a timeframe for someone to be able to withdraw 25% of our stakes, especially since we use our active keys often.
The idea of increasing the holding periods that are possible, using the Savings Feature, AND blacklisting exchanges from using SP before they ever have a chance to take control would both make a 4 week Power Down more viable IMO.
But exchanges possibly taking control of the Steem blockchain should not be taken lightly IMO, since once they'd gain full control of the blockchain, it would be nearly impossible to take it back from them.. so rough estimates of a 4 week Power Down being enough to deter them isn't good enough IMO.
Thank you though for letting discuss this with you @thecryptodrive.. if I accidentally misrepresent your views I will always accept your corrections 👍