RE: First week - Dereliction of Democracy?
At the expense of possibly irritating someone, I distinctly remember @blocktrades writing a long time ago (it would be a mission to find this comment) that leaving his spots open, voting on dead accounts was intentional and for the reasons I wrote above too. Now, is this the case for all whales? probably not, but I would not be surprised in the slightest if most subscribe to this strategy.
I'm not saying this in an accusatory way, not in the slightest. It actually makes sense to me, if we think about the fact that a top tier witness is standing to make a pretty penny maintaining the network, making the decision to support a new one has to come with the least amount of faith possible.
Allow me to submit to you an example of someone who was not vetted properly, yet with his "charisma" managed to run a successful witness campaing, @zeartul and his @bellyrub (and the bank). He collected thousands of Steem as a witness ranked in the 30's, if memory serves me right, only to pull an exit scam that rivals the bitconnect types.
Hence my sympathy with the big whales on the issue. I think a new witness in my opinion will be put through the paces, he or she will have to demonstrate to the big Stake holders that he or she is willing to stick it through even when the price of steem wont cover the costs of being a witness. It's almost as an endurance test... they make you walk on the coals if you will.
Grant you I'm being a tad ridiculous, but I don't think I'm way off... quite the opposite.
Well, when you start from very low as we did it's pretty clear that it's not about the reward. We've provisioned a server for a year before having any idea of whether the rewards would cover our costs. Someone around the 115 rank in the active witness list would not be covering our server costs (let alone cover the time spent). We would need to climb up to around place 60 to approach break-even when only half the time spent (Pablo's because one can claim that I would be blogging anyway, with or without the witness) is included. So looking at it from the get go it is clearly a lousy business to start a new witness, if it had been for the money we wouldn't have even tried.
thats a healthy attitude @sorin.cristescu, the challenge becomes then to project this to the blockchain, to the stake holders effectively...
How to make the right amount of noise, enough to be visible, not too much to be annoying... Hence the politics aspect of it all.
:)