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RE: Steemit Suggestions and Rationale. I hope that this will make people think their own thoughts.

in #steemit8 years ago

Hi @ebryans - thanks for taking the time to put all these thoughts together. A few things in reply.

  1. Unfortunately there is no way to implement this where it will not be abused. If users get more power for having multiple accounts, they will split their one big account into several little ones.
  2. Implementing this at the blockchain level has it's challanges, but many users are already doing this type of transaction "off chain". One thing to keep in mind though is that if a user buy SP directly from a user at a 25% discount, that is still taking buying pressure (demand) away from liquid STEEM - which puts a downward pressure on the price. If you assume that the same user would have bought liquid STEEM if the price dropped 25%, then this demonstrates how the demand is gone. One alternative that has been discussed is the idea of allowing users with SP to power down instantly at a 25% (or higher) rate, which would basically be paying the network by reducing the supply.
  3. I disagree. Having witnesses who have a major stake in the platform is generally good, because you want the witnesses to care about the success of the platform. In the few scenarios where there are decisions that have to be made that are not in the best interest of 'stakeholders', regardless of whether a witness themselves holds a lot of stake - it is important to keep the interests of the major stakeholders in mind. To disregard the interests of the major stakeholders (regardless of how they earned their stake) sets a very bad precedent. Why would any future investors want to buy into the platform if their interests will be disregarded 'for the good of the platform'?
  4. It is not possible to do this with the technology that Steemit is built on. Multiple accounts are going to be a reality that we have to accept and adapt to. There is no way to prevent it.
  5. I agree.
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Many thanks @timcliff on all accounts!
May I go point by point:

  1. There is no benefit in a multi-account approach under the system of rewards put forward. The graph is flat.
  2. I am proposing a system whereby there is less liquidity than there is and so there can be NO downwards pressure on the value of steem - unlike the current scenario where there is more and more liquid steem every day on account of what the whales are doing, notably steemit!
  3. If witnesses are truly independent of their interests in the platform, they should welcome such a move. Witnessing is functional. It should no have a policy mandate. There is no disregard for anyone through outsourcing. It just ensures NO conflict of interest. To argue against this suggests that there are practices which DO adversely affect the platform.
  4. I did leave latitude within this point and thee are certain situations which do require extra usernames. The need for more than 5, as I outlined, is untenable. Thee are ways and means of ensuring compliance. There are ways and means of trying to cheat. The current photo system is good, though it I know can be cheated. If this is Social Media, it needs to start looking like it!
  5. Thank you!
    As I said in my opening lines, it is not a prescription but it is one hell of a sight better than the current dog's breakfast!

@timcliff's reply explained well.
We know it's better if we have something, but some of them are just impossible to be done at current stage.