Viewing a response to: @pharesim/adjust-your-witness-votes
> First off, there's no more reason to use all 30 votes. You don't lose out on anything, That is absolutely not true. Let's say that we have 1 account with 100k vests and 20 accounts with 10k vests each. In theory the bigger account should be able to determine only one third of the witness positions but if the smaller accounts only vote for a few of them it becomes very easy for the large stakeholder to control the top 20. That is the reason why the freedom account was determining the top spots before and why Justin Sun was able to retake control with only 10%+ of the coin supply (the amount held by Binance). Suggesting that there is nothing to lose by not using all of the witness votes is short sighted at best (in light of the recent events).
| author | onthewayout |
|---|---|
| permlink | q7per5 |
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| valued-customer | 0 | 19,799,031,440 | 25% |
So what's not true in >You don't lose out on anything, ? Of course there is the known attack vector, but there's no current threat and no reason to keep the big spread between the top and the bottom witnesses. 35% are voting for #20, not even 7 for #40. The stake necessary to topple the top20 probably isn't even available on the market. Suggesting to keep voting for people just because what happened in the past is paranoid at best (in light of the most recent events)
| author | pharesim |
|---|---|
| permlink | q7pfip |
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Suggesting to not use all the available votes does not help the lower ranked witnesses. Using only a portion of your potential voting power opens the door for big stakeholders to control consensus in excess of their effective percentage of the total stake.
| author | onthewayout |
|---|---|
| permlink | re-pharesim-q7pgqq |
| category | hive |
| json_metadata | {"tags":["hive"],"app":"peakd/2020.03.10"} |
| created | 2020-03-24 16:06:30 |
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| root_title | "Adjust your witness votes!" |
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| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| valued-customer | 0 | 19,700,204,849 | 25% |
> Suggesting to not use all the available votes does not help the lower ranked witnesses How do you mean that? A lower ranking witness produces more blocks with more votes. When someone above him has more votes, he produces fewer blocks. The top20 are exempt from this, but when they have more votes it's harder for the lower ranking ones to get in there. Big stakeholders exert more influence, but the amount of votes doesn't have anything to do with that. The only case where it does is what happened on steem. On the contrary, when someone doesn't know who to vote for down the list and just adds votes on the top instead, they effectively add to the power of the big stakeholders. Do you see anyone near the top who doesn't have a freedom and/or blocktrades vote right now? How would they get more influence when those witnesses had fewer votes? Please, take a bit of time and calculate the numbers of the risk you talk about, and you see how incredibly far away we are from any further takeover attempts. And if you don't want freedom and blocktrades to decide the witness list, vote on the bottom - no matter how many, it's more important _who_ you vote on than using all 30.
| author | pharesim |
|---|---|
| permlink | q7ph18 |
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| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| saboin | 0 | 184,401,849,518 | 26% |
hiveblocks