Feedback Wanted: 4 Week Power Down - RESPONSE

in #steem5 years ago

I saw a response from one I follow, @logiczombie and decided to post my own. Unlike @logiczombie, I believe it's a good idea, and will explain why.

The first reason being that if someone is done here, they are done. Regardless of whether it takes them 4 weeks or 13 weeks. The only thing 13 weeks over 4 is accomplishing is making them probably more angry (I know, they agreed to it when they powered it up, but peeps is gonna be peeps). Which in turn can lead to them being not only disruptive here, but spending an additional 9 weeks shit talking to anyone who will listen about their negative take on Steem.

Second, as far as it securing some of the value by locking it up, let's not pretend many of the wealthier holders here aren't sending a lot of earnings out weekly. For the most part, this would seem to be more of a handicap for those of smaller means who for whatever reason (hardship, being targeted, etc) need to get their little stash out.

Third, it suggests a weak hand to outsiders. Suggests a fear of a free approach. Go ahead and come here, but if you dare to not like it here we are just going to hold onto these coins for awhile.

money trap.jpg

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Ideas/structures that are good have no need of traps to force longer participation. Don't like it here, don't let the door bang you on the ass on your way out. And frankly, the schtick where the people announce they are leaving for 13 weeks (usually to return again compounding the whole unnecessary drama) would be a huge plus to the 4 week power down.

It has been argued that it would invite more speculators. Not sure if this is the case, as any of them could buy Steem now and hold it at the exchange if that is what they want. Seems there are other coins better suited for playing pump and dump with. But suppose they did, would it be all that bad if the average moved up? Seems we have found our bottom over the last year. Who knows, maybe they might decide they like it here if they dip their toes in.

A quality project has no need to hold others investment hostage. Quality projects bring people in and keeps most of them.

As for the one person mentioning exchanges powering up, that would be a great idea in my mind. It would ease the concerns of the pump and dump, as for at least those 4 weeks it would be tied up. This would actually take some of the supply off the market (which has been argued as a reason not to shorten the power down) as the exchange would be tying it up. This would also help the image of Steem that an exchange would view it worthy of offering an incentive to their base to allow them to stake it. Especially if any of the large exchanges WANT to stake Steem.

I can remember when I first came here and discovered some I interacted with were always on powerdown. Usually not taking it, but they wanted to be able to minimize their risk of a moon landing happening and not be able to access any of their stake. 4 weeks is still a long time in the world of crypto, yet quick enough to allow those who want to leave to do so.

That's my take on this.

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Fully agree - that is the main reason I have never put back the 15000 SP I once had - a crypto I can't trade is a lemon, as I remember all to well watching the value dropping from $5 to $3 when I was selling mine for 13 weeks -

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