So now that both of these proposals (in favor / against the reduction of the 13 weeks to 4) have massive support...what's next?

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Almost 2 weeks ago Steemit.Inc via the @steemitblog account, decided to ask all community members for feedback,regarding the possible reduction of the currently 13 week period for a full power down , to just 4.

What truly triggered their decision to have this talk with the rest of us all was a proposal submitted by the witness @thecryptodrive which found great support from the very early days of its submission, and had been sitting above @gtg's return proposal quite for some time.

In this post they explain what their approach will be. Their No1 priority has always been the safety of the blockchain and how it won't be exposed to unnecessary risks. They explain that there is not a technical difficulty for such a change and at the same time they raise awareness regarding the safety of the funds if an accounts were to be compromised.

It's one thing to lose 1/13th of your total SP and another to lose 1/4th of it, before one can take any action ...

In the meantime @thecryptodrive submitted a new proposal for those who want to vote against the reduction of the 13 week period required for a full power down to 4.

Twelve days later, we are in a position where...

2020-02-03 22_52_24-SteemWorld ~ Worker Proposals.png

...both of these proposals are sitting above @gtg's return proposal. The one in favor of the reduction to 4 weeks has collected 19 mill SP and the one against it 17 mill SP through the stake based voting procedure.

So what now?

It seems as if one proposal is cancelling the other...

What I am saying is that the implementation of a downvote button along with the already existing upvote button would have been very handy...


For the time being the only thing one can do is to either support a proposal, or choose to ignore it. There is also a third option and that is to upvote @gtg's return proposal in order to make it difficult for someone to receive the requested funds.

In my case a vote to the return proposal wouldn't make much of a difference as my stake is pretty small to have an impact. But what if someone like @blocktrades or @theycallmedan or @smooth or anyone with a massive stake decided to choose that third option just because they feel that a certain proposal shouldn't be funded?

Probably a couple, if not more of the already great proposals that are receiving the requested funds via the DAO would end up being below the return proposal...

So now that both of these proposals have massive support...what's next?

PS. Great to see 5 proposals receiving the requested funds for further development of their projects.

PS2. Use your votes people...no voting power is wasted...and you can vote as many proposals as you want if you think they are worthy of funding...

You know the drill...drop some comments and lets talk about it.

Have a great one.
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Cheers.



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11 comments
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I am very curious what effect on Steem price would be when the powerdown period would become 4 weeks... I vote pro!

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(Edited)

Assuming that nobody voted on both proposals (I didn't bother to check) it means that only 17.6% of the total vested steem cared to give an opinion...hardly enough to get any consensus.

TLDR: No one gives a shit.

Or maybe it's like herding cats.

Now I am curious to know how much SP is being used to vote on the witnesses.

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I assume at least 5x of the SP used on proposals

Note that there are votes casted there but the users have abandoned the ship long ago

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Thank you for the info. I'll be adding my vote to @cryptodrive's proposal. I agree with you that there probably should have been a downvote option for proposals... your post just gave me some thoughts that I think I will turn into a post.

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Nice. After reading a post or a comment I usually want to add mu own thoughts as well

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