The premise behind this change is to reduce the barrier to entry for investment into Steem and PoB SMT's, currently it is daunting for investors to lock-up their capital for 13 weeks.
I have been reading a lot of posts on the topic and thought do make an overall recap for those that have not followed or those that just want a handy summary.
There are a lot of views pro and contra and then suggestions and alternatives
For all of you who said: TLDNR to long did not read
- investor flexibility
- why is it 13 weeks in the first place?
- encourages more speculation
- could encourage more power ups
- security liability (hackers can get more money faster)
- people actually use keys often so more chance of theft
- would allow exchanges to power up and start voting for posts and witnesses
- just buy liquid steem to speculate
- dynamic lock up options with better rewards the longer the lockup (https://steempeak.com/hive-111111/@therealwolf/powerdown-period-4-weeks)
- make use of the savings option as a cold storage (https://steempeak.com/hive-174578/@tarazkp/the-return-of-locked-stake-and-passive-earning)
- ading an option of instant powerdown with a burn fee of 5% (https://steempeak.com/promo-steem/@theycallmedan/how-viable-is-steem-as-a-currency-as-the-steem-network-must-constantly-create-tokens-to-reward-bloggers-and-enable-votes-causing)
- hardware wallets
Personally I do not really have a strong view on why it should be 13 weeks in the first place but it might be prudent to look at the alternatives before we just change the 13 to 4 in the code which is quite easy according to the Steemit Devs https://steempeak.com/steem/@steemitblog/feedback-wanted-4-week-power-down
As far as I can tell the proposal has all the votes needed in the https://steemitwallet.com/proposals (including my small one) so at least there is a lot of steem power behind the votes. I guess that means that those who are interested have voted even though that may not be the majority of the users. (on the other hand if you look around, mostly the majority does not care how something works as long as it works).
If someone wants to leave because they do not like the project they will do so and the 13 or 4 weeks will not make a difference. On the other hand the lower threshold might pull some new users and investors over down the rabbithole.
so here are the last 2 things to look at before final implementation
- do it with the next HF but only 13 changed to 4
- do it more complicated on the HF after that with one or more features mentioned above
Posted via Steemleo