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You will recall that I initiated a proposal to change the current 13 week power down schedule to 4 weeks in the upcoming SMT Hard Fork. If you missed it, here is the proposal post. This proposal was well received with over 21 Million SP of community support.
In addition to this I took an informal spreadsheet poll among the then top 20 witnesses, which yielded 10 YES, 4 MAYBE and 2 NEUTRAL tending towards YES votes. Only 2 absolute NO and 3 Tending towards NO as per the below screenshot.
We are still short of 17/20 consensus, but I keep bringing up the issue internally and have stressed the fact that witnesses should not ignore community sentiment behind the proposal's overwhelming support. As such I have recommended that Steemit Inc deliver two sets of HF code, with and without the change, at which point witnesses can run which code they believe in and the community can vote on the witnesses which best represent their ideals.
@THECRYPTODRIVE WITNESS NEEDS YOUR HELP!
My campaign efforts for the 4 Week Power Down proposal have however been hindered as I am no longer in the top 20, therefore can no longer push this agenda from a consensus witness standpoint. The recent @proxy.token votes changed the witness lineup and left me just outside at position 21, sitting a little bit bewildered like this little cardboard guy in the corner of the post image.
I have been extremely active trying my best to improve Steem with the 4 week power down proposal the recent @sbdpotato project to try fix the SBD peg which hopefully will take the STEEM price up with it.
You may not know this, but the recent Paycent.com integration which was announced on the Steemit blogwas a project I have been negotiating for over 8 months to get paycent to agree to list STEEM as a top-up currency for their UNIONPAY CHINA and UNIONPAY International Debit cards.
I didn't announce or boast about my involvement in achieving this milestone for Steem, you will subtly see however that Steemit set the post beneficiary 100% to my @sbdpotato project.
My position as consensus witness and BuildTeam CEO gave me the credibility to be taken seriously in the Paycent integration. My position as top 20 witness was enough recognition for me, but perhaps I should have posted about it so the community could see I'm actively fighting to the best of my ability to bring STEEM out of the low-price doldrums.
I humbly ask the Steem community and all supporters of the 4 Week Power Down proposal to please vote my witness and help me get back into the top 20 so I can continue to serve and champion for the voice of the greater community.
Shoutout to the following who have voted my 4 week power down proposal but not yet voted my witness: @proxy.token, @haejin, @therealwolf, @berniesanders, @smallpusher, @slowwalker, @liondani, @nrg, @jsquare, @agoric.systems, @crystalliu, @steemhunt, @drorion, @freepress, @inature, @slobberchops, @superjohn, @mcoinz79, @reazuliqbal, @tomhall, @brent1042, @stayoutoftherz, @goldmatters, @davedickeyyall, @asgarth, @sepracore, @threespeak, @aquabox, @onealfa, @meno ...
Beneficiary Declaration: This is a 20% @sbdpotato beneficiary post
If you like what I do, vote for @thecryptodrive witness with this vote link: https://steemit.com/~witnesses
Or use the quick SteemConnect link: https://app.steemconnect.com/sign/account-witness-vote?witness=thecryptodrive&approve=1
Dear @thecryptodrive
Our common friend @lanzjoseg mentioned about your publication in his latest post. So I decided to read your reasons to support idea of cutting power down time short. From 13th to 4 weeks only.
Oh wow. That's bloody impressive. Would you mind telling me how does it work? Since you received such a support - where does those funds end up and how do you manage them? I presume you cannot sell it, right? (I only hope so :)
Will that change (of shortening power down time) cost that much? It's just a bit shocking (since it's over 2mln usd).
I hope I'm not making an idiot out of myself (i just never learned about steem proposal system and I'm not sure how does it work).
Anyway back to main story: I really value all the work you've been doing here on steem blockchain buddy. Seriously. I started my adventure here having some conflict with you - however I've learned to value and respect you.
I suppored you with vote for witness from my account and @project.hope (I'm not sure if delegated SP counts while voting on witness
Yours, Piotr
Dear Piotr, I appreciate your comment and appreciation. Basically the way I did this proposal was set it to be funded only 1 SBD per day and set the beneficiary as the steem dao meaning funds get returned, basically I'm just using the proposal system as a poll to gauge user sentiment for the idea and has no monetary gain.
The 21 Mil SP is merely the amount of SP behind the people who vote for this change, think of it as shareholders voting for a change in a meeting 21 mil of participating shareholders vote for the 4 week powerdown change.
Hi @thecryptodrive
I am in favor of the proposal with 4 weeks.
Investors that I have joined in Steem see 13 weeks as a long time.
It can be easier to attract investors when it is 4 weeks
Hope you return to the top 20 again
Hi Xpillar, I agree with you fully, personally I wouldn't buy crypto that you have to lock up for a long time, so I imagine investors feel the same.
Hi @xpilar
I was wondering what are advantages of short powering down.
It surely would benefit mainly those people, who want to sell and get rid of their steem as soon as possible. I'm just not sure if it could benefit anyone else.
It's also easy to imagine that all current accounts currently powering down would speed up such a process. And short term I would expect enormous selling pressure to apprear, causing probably wave of panic.
I'm going to check out post by @thecryptodrive and let's see what are his reasons behind this idea. Im very curious.
Basically one important question we need to ask ourselfs: do we care mostly about long-term investors who are willing to stake their STEEM token long term - or would we rather attract short-term investors.
Yours, Piotr
Steem will need both long-term and short-term investors who can tie up their funds in Stempower and with 4 weeks of powerdown as I see it will attract more investors. I have to deal with investors and 13 weeks PD is not easy to explain with funds locked over that time even though they view Steem as a long term investment.
Investors are looking for dividends and it is our job to show what opportunities there are in Steem in the long term. Of course, I also tell them about the risks that can result in losses and I give no guarantee.
I would also think long-term investors will be happy for 4 weeks PD
We have to see it on their part too for long term investors are here much longer than 4 weeks.
Yes, I see that danger can come with all current accounts currently powering down such a process. This is another topic that should be taken into consideration and nice if it can be brought forward by those who are strong in math on this
4 weeks powerdown will be a very good change and I hope it'll be implemented in the next HF. Looking back I can't believe it used to be 2 years.
Lool two years is crazy!! Thanks for your support my man!
First time reading about this but I 100% support it! Thanks @thecryptodrive!
Thanks for your witness vote as well!
I like 4 week power down. 1 week power down would be better, but 4 weeks better than 13. Thanks for initiatives.
I think 4 weeks would be best due to account recovery also lasting 4 weeks and in worst case scenario if you're afk for a longer period the hacker/pw thief won't empty your whole account in 5(possible undelegation)+7 days.
Yip 4 weeks is the perfect balance that takes security into consideration.
4 weeks are ways better then one week. Because otherwise exchanges can use the Steem for Votes.
Pleasure, 4 weeks is the best compromise I could get that pleases everyone. Thanks for your support and encouragement!
Hi @thecryptodrive
It is definitely a fantastic idea to take 4 weeks with all my support to promote this proposal.
Thanks dear friend!
你好鸭，thecryptodrive!
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Let me fix that witness vote for you, 4 weeks will show the world this is no scam and people can leave as easy as they can enter.
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Awesome thanks so much!
You get my vote, 4 weeks powerdown seems perfect to me, But the sbdpotato stuff, I'll downvote that, Would rather see real content be rewarded more than some account being used to inflate steem dollars.
Hey I’ll take the win on the 4 week initiative. Thanks so much. :)
Really needed change. Resteemed.
Thanks for the beer! Cheers!
I like the 4 week power down idea. Although I hate the sbdpotato project. I thought you already had my witness vote. Corrected
Thanks so much! How can i improve sbdpotato so you can like it better?
Honestly? Keep it off the trending page. Outsiders who are checking out steemit for the first time should see good interesting content. Not side projects. Maybe get some of your whales to upvote smaller accounts. Even 5 and 6 % votes make a difference to a minnow.
I agree with what @davedickeyyall said @thecryptodrive. Steemit should be about good quality content making trending pages, and as important as pegging the SBD back to $1 maybe, I don't feel it needs to be trending. Whale upvotes could be better served finding and upvoting hard working minnows.
I love the idea of a 4 week PD and I'll be adding you to me witness list. Thanks for all the hard work you've been doing.
Something Cooking
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Wish you best humans
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I understand you are campaigning again and respect it, but why attach the whole thing to the powerdown, it’s completeley unrelated.
I would like to vote for witnesses that work at the same rate whether in the top 20 or not. Do the work (and pos about it) and trust votes will come.
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My three biggest initiatives these last few months have been the power down proposal, fixing the SBD peg and the paycent Steem debit card. The power down initiative still needs a bit more of a push hence why I bundled them together. I also figured it was the most well supported of my initiatives with 21 mil SP voting for it on the DAO, that was my reasoning really.
At the end of the day if they don’t support the 4 week powerdown people can still vote for me because they like sbdpotato or the debit card or any of the BuildTeam services such as dlease, tokenbb, ginabot etc.
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the next HF is not the right one for this to happen. The next one should be SMTs and only SMTs
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There are already other changes besides SMTs in the hard fork. There is a certain ideal about 'one change per hard fork' but in reality, hard forks are too infrequent for this to work.
This change has the advantage that it is extremely simple in terms of coding, which is an absolute requirement for anything to be considered this late in the development cycle. That makes it feasible to even consider.
Nevertheless there are certainly people who don't want the 4-week change, albeit that seems to be somewhat of a minority.
Everything I've seen and heard is that the next hardfork would focus completely on SMTs due to the extensive changes needed for them.
So what else is being changed?
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RC pools is one big thing I know of. I believe there are some improvements to how vote changing works.
I'm pretty sure there are other things but we will have to wait for the release notes to know what they are (or dig through github logs).
Overall the development process is pretty linear. Any work that has been done since the last hard fork and not specifically put on a parallel track (which is rare, since it significantly increases the development effort to maintain parallel code bases) will end up in the next one.
You got my vote bro.
Cheers
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I love this proposal and vote for it. Hopefully it will be implemented soon as I believe it will bring many more investors who are willing to lock up their Steem which will be good for the price.
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What problem(s) are you solving with changing the powerdown period to 4 weeks?
Is the intended result to bring more investors? I don't understand how bringing more investors will help. It seems to me that investors come and go and the net effect is the same. It also seems that what Steem really needs is more users. So changes made have to be about meeting the needs of users. Whether a 4-week powerdown is better for most users than a 13-week powerdown should be carefully discussed and data has to be gathered from the community (and from 'normies' who are not on Steem) about it. I don't know which of the two powerdown periods (or some other one) will serve people better - it seems worthwhile to investigate the matter (i.e. work from as much data as possible, rather than only opinion).
A 4-week powerdown may also cause disintegration and destabilization. Such possible negative effects also better be investigated much more thoroughly.
What do you think?
A user who spends 100 USD and powers up is still an investor, do you think most people would risk personal funds to power up for a long period? I am of the view that Steem would be less daunting and user friendly if the lockup period was shorter and thus less objectionable. This sets a good base for Steem for when it does become more popular, I am under no illusion that the price of Steem will rise instantly because of this, however it helps mold Steem to a more mature and robust economy, remember we compete with EOS that has a 3 day lockup period only. SMT's will be competing with other chains like NEO etc, so has to be attractive for SMT projects to join with reasonable lockup periods.
Yep, it may very well be the case that most ordinary people may not want to power up if the lockup period is 13 weeks. Then again, how many ordinary people have we contacted and recorded feedback from? I imagine you have formed your views from interacting with some people and hearing from them that 13 weeks is way too much. What I'm saying is, let's do more proper research and find out exactly what troubles these people and check what they think about possible solutions (e.g. a 4-week lockup period). That would be more solid research that we can all be informed by. Agreement on intervention will follow.
Also, pros and cons of any proposal have to be identified and fed into the intervention. What you say about the pros of changing the lockup period to 4 weeks may be valid, but there may also be unidentified/unintended really bad negative consequences.
I'm only calling for better research and decision making than "let's get majority rule", if you see what I mean.
I checked and all my accounts do include you already...but I am puzzled, as you showed up as #12 on the list between aggroed and cervantes.
It seems you did get a lot of support during the past 2 months - I am glad, but how about an update on what happened to the proposal?
This proposal hasn’t gotten much attention lately from witnesses. The current Tron situation is on everyone’s minds and is current focus. Reducing to 4 weeks now could be dangerous if tron is still holding alot of stake.
True. I have nothing worth worrying about, so I do not mind either way.
Thanks for replying.