RE: My unsolicited thoughts on the Hive powerdown period
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When Steem started the power down was 2 years! 1% per week is not much. I think 13 weeks is not too bad and I could accept some penalty if you want to do it quicker. The danger of allowing immediate withdrawal is when accounts get hacked. Having a week to get it back may save some funds.
I think we need people to be seriously invested in this platform for it to work. If it's about quick profits then it could have negative effects.
Steemit changed theirs to 4 weeks as exchanges has to power up to support them gaining control. I don't think they really care about what is sustainable. It's all about milking the system.
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I agree, two years would be nuts if you were looking to get out of your stake. That is a great point about your account being hacked. I really like the penalty idea (not just because it is mine). It just makes a lot of sense to me. As I mentioned, Leo is a four week power down and it hasn't adversely impacted them yet. I think it can be done without massive disruption if implemented properly.
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What we don't want is people selling every time the price spikes. There are incentives to stay powered up and there has to be a balance.
I think people are starting to learn that as they spend time on here. They need to want to be on here first and the 13 week power down could be a hinderance to that. Maybe I am wrong.
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If they decide not to stick around they can wait for the power down. I doubt many would put lots of money in straight away.
I think the penalty system would fix this.
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