Why are you against the voting decay?

in LeoFinance2 months ago (edited)

As you may know from @giraff's or my previous post, @netuoso had 2 active HIVE proposals making him more than 500 HBD daily.

He was earning this kind of money even though there was no activity from him for quite some time. With the attention these posts received one of @netuoso's proposal is now actually out as it's below the return proposal.

I would like to thank @giraff for highlighting this issue. I also feel that some of you still give a damn so that's good to know too.

Some of you had some great ideas that could actually make the HIVE proposal system better. Can you please check it out @blocktrades, @theycallmedan, @smooth and @yabapmatt? The future of HIVE depends on it.

The DAO should make an initial payment for development and then the rest for objetives accomplished, not for month, the way it is now is a joke to the accountability of the blockchain, easily manipulated by whales. If we don't change this system now Hive never will take off. - @palasatenea

The current system relies too much on the recipient being honest, the supervision lax and the decision making being decentralized (which it isn't, yet). - @markkujantunen

I say: Result-Based Proposals, and paid after a satisfactory or proven outcome. - @smasssh

There needs to be an elected police for hive. Hive auditors. A check and balance system. As of now, it's a popularity contest with no assessment on value received. Real companies have earning reports and have to show stakeholders how projects have driven results. - @cryptoknight12

Many of our problems could be fixed by a voting decay in my opinion. Not all of them, but some of them for sure.

We for example still have a problem with the witness voting that nobody is talking about. From our top 100 witnesses there are exactly 9 disabled, which means they don't produce blocks anymore and are pretty much just taking the spots for witnesses that would actually want to secure the blockchain.

A disabled witness looks like this.

It will stay like this maybe for the eternity because there's no voting decay and these disabled witnesses just have too much votes. This also makes it hard for the new blood to compete. Some of our current witnesses wouldn't probably even be in the top 100 if they wouldn't have these very old casted votes.

What do you think?

Posted Using LeoFinance

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Believe it or not, some of us still give a damn.

Posted via neoxian.city | The City of Neoxian

Thank you Neoxian.
You are good.

The only counterargument I heard about witness vote decay is that whales would probably automate their witness votes thus changing nothing except decaying the votes of regular users.

It's a very delicate situation, isn't it?
But if voting decay is not an answer then what is?

I would still do it. The main reason for this is that votes of inactive people still count. And if a whale or several orcas become inactive, that has a bad influence on Top 100, something that cannot be countered easily.

It should have been that way a long time ago, it should decay even faster when the voter is not around anymore!

Posted Using LeoFinance

That actually sounds awesome. Good thinking @tbnfl4sun!

I was gone for a while and when I came back I noticed 5 or so of my witnesses I was voting for were defunct.

That's sad that there are lots of inactive witnesses in the higher up spots. I would much prefer that active witnesses who were contributing to the blockchain received the top witness spots.

I would be okay with a vote decay as long as it was not too confusing.

I am not very knowledgeable about proposals, how they work or how they might be abused. I'm glad there are people like you guys who know the inscand outs, and you still care.

Imagine if for example even more witnesses were defunct, the blockchain would be getting more and more centralized. Witnesses that are disabled shouldn't even be here in my opinion.

"Some of our current witnesses wouldn't probably even be in the top 100 if they wouldn't have these very old casted votes.

I even bet that a lot of people who voted for witnesses hardly have a clue why and who they're voting for.
They just voted because they're told that it's important to vote, and for convenience (like most people do in cases like these) picked the highest in the list.

That is also so true.

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