RE: Hive's Stake Weighted Voting And The Importance Of Hive Power
You are viewing a single comment's thread:
Time for a Devil Advocate..
You speak so highly of stake based voting.. yet when Justin Sun came to Steemit with enough SP to vote in his own witnesses what did you do? Buy more stake so you could out vote him? No you forked the chain and created your own thing.. those who wanted to stay stayed. Those who wanted to leave left.
Yet nobody learned anything. 30 votes for witnesses is to many. With enough stake someone can take overjust by voting in their own "sock puppets". I believe stake based voting is needed.. but less of them.
Ok, I'm done.
0
0
0.000
Right, what one needs to do and what one can do are rarely in equal standing. I'm disappointed that @taskmaster4450 went the old cliche route with this one. The guy with 20m hive will never get overtaken by the average person. It requires a billionaire to do that. Also, last I heard, it only takes 14 of the highest staked account to choose the witnesses and take the majority of the rewards pool. No dedication or real knowledge of the platform needed.
With 30 votes each there should be 120 concensus witnesses imo.. I think you should only be able to vote for 5 max with 20. Split your HP stake percentage however you deem fit. But I like the idea of more witnesses AND less votes the best... file that in the not-gonna-happen drawer..
I agree, because with 30, the highest stakes can by default control all the top 30 witnesses
20 accounts take 50% of the reward pool, half for themselves, and half for their beneficiaries.
Is that currently with their actually activity or if they use their full daily 10 100% VP and blog once a day?
Daily.
Day after day.
Year after year.
50% of rewards go to 20 accounts.
Most of that to the top 5.
I don't know if they use all their vp, or not.
I would suspect that they don't.
It would be some evidence that they do feel shame.
I would suspect large sockpuppet activity, but I have no direct evidence.
Steemit launched with skimming ops in place.
A stincy dev as much as admitted it on a live stream.
What was implemented was delayed stake voting for witnesses. You cannot have hive power affect your witness vote for 30 days from the day you powered it up. This way if someone comes along and powers up 17 million hive power (I think that’s what binance did) you will throw all kinds of red flags from the data warriors before you get to affect anything on governance. It would be sniffed out quick!
He didn't overtake governance with his own stake, he overtook governance with the stake of random customers of 3 big exchanges. Before he tricked the exchanges we saw the price of steem rise from 15 or so to almost 80 cents from the few million he bought, buying enough to overtake governance would become increasingly expensive and close to impossible.
buying enough to overtake governance would become increasingly expensive and close to impossible.
So if I don't like something about the present system there's no way to change it since I can never buy enough HIVE to change anything
No but enough different people with more funds but the same idea can. Welcome
5 sounds good indeed