Steemit Improvement Idea: Variable Power Up/Down Option by blakemiles84

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steemit · @blakemiles84 · Aug 9 '16

$16.19

Steemit Improvement Idea: Variable Power Up/Down Option

### Purpose: Encourage users to hold while retaining the benefits of powering down; allow more flexibility and functionality of the power-up/down feature

### Parameters: 
* Add field into Wallet page:  `powerDownRate between 0-100`
* Power Down option of percentage (0-100 %) with inverse Steem Power (SP) growth incentive
* User powers down at a rate of 80%, so receives 20% of original SP-growth moment-to-moment, and 80% of what would have been otherwise received each 7 days at the end of the power-down period. 
* If I receive 10 Steem at the end of a power down period, I would now receive 8 but still receive 20% of my dilution rewards

### Explanation:
* Gives user more control over how they manage their SP
* Rewards holders and long-term investors
* Adds more variability to market information, increasing 

### Hypothesis: The percentage of users with powerDownRate > 0 will decrease and the average powerDownRate per user will be >= 0.5

## What do you think ? Would the economics change the reward structures too much ? 

https://www.steemimg.com/images/2016/07/20/steem_coin830db.png

👍 wang, laonie, liondani, boombastic, eeks, blakemiles84, chitty, noaommerrr, mrs.agsexplorer, jl777, juanlibertad, xpilar, sigmajin, jacobt, highasfuck, xiaohui, derekareith, frostwind, rubybian, james-show, akareyon, justtryme90, proto, thecryptofiend, solar, lasvegasgirl, prufarchy, manipulable, getssidetracked, youngkim, taker, btcbtcbtc20155, steskoff, allyourbase, karen13, tarindel, murh, imp3, btcshare7, rushd, endgame, bledarus, marcgodard, cherish, cybercodetwins, pr3ttyp3rf3ct, havok777, raphma, cwmyao1, mixa, guinsanity, alex.chien, steemitdude, sciencenews, dumar022, irit, rittr, taz, mineralwasser, dansteven, shadowgem, tomeraddady, litali, steemittt, and 8 others

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@btcbtcbtc20155 · Aug 9 '16

I don't will have enough incentive to change the mind of the people already power down.

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@blakemiles84 · Aug 10 '16

but it is simple to stop the power down, or would be simple to adjust the rate.

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@luminousvisions · Aug 27 '16 (edited)

my comment is now on top of the list of comments, because I upvoted my own comment and I have steem power

and that's why you need to power up!

and not to be rude, but ... 
https://steemit.com/steemit/@luminousvisions/authors-should-upvote-most-comments-made-on-their-post

👍 luminousvisions

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@sigmajin · Aug 12 '16 (edited)

$0.05

im like 87.23146% sure this functionality already exists in the cli wallet if i understand correctly what you want... (you want tpo pick what % of your steem power to power down)

👍 sigmajin

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@blakemiles84 · Aug 27 '16

Well, more than anything I want there to be an incentive for remaining powered up that competes with the incentive for powering down (liquid Steem each week). 

Until that happens, why should whales stop powering down and selling their Steem?

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@sigmajin · Aug 27 '16 (edited)

$0.17

Well, they lose vote power when they power down (as discussed below) .

The problem isnt that people are powering down, its that whales started with an unnatural and absurd amount of steem to begin with, from the "ninja mine." and now their power downs are so massive that they break the universe.

Once we got to the point where whales had billions of steem locked in steem power, why would you think they would ever not power down.  Its absurd.  The problem isnt powering down, the problem is that one or two guys powering down has the power to effect the entire steem economy.

👍 blakemiles84, sigmajin

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2 replies

@thecryptofiend · Aug 9 '16

$0.28

It certainly looks like a good idea but it would be helpful for someone with economic expertise to chime in on this one.  

I suspect that the way the system is currently set up took a long time to figure out and @ned and @dan probably won't want to change it unless there is some definite improvement and they know the new system will work at least as well.

👍 blakemiles84

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@blakemiles84 · Aug 9 '16

This scheme was the only thing I could come up with that acted as a counter-balance to powering-down with zero considerations necessary. 

I honestly thought that powering down took power out of votes, otherwise why wouldn't everyone power down at all times if for no other reason than having the option to power back up after their payouts if they are not in need of liquidity?

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@thecryptofiend · Aug 9 '16

I think you are right about that though - I remember someone posted on this after powering down and their vests started to go down immediately which one would think would affect their voting.  I think they then stopped the power down because it scared them!

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