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RE: Dragging You Up With Me Week 9 / Ask Me Anything Contest Winners Announcement - D00k13 Digest #154
Thanks for mentioning me and @actifit @d00k13. I always enjoy your actifit reports.
My questions are::
1.What do you think of vote farming?? I have seen different opinions here. I just want to hear it from you.
2.Waiting period for now to power down is 13 weeks. I think it should be brought down to 1 week or 2 weeks to attract investors. What do you think??
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No problem my friend and thank you I had never really blogged about my days activity before, good to know you like my efforts in keeping them interesting.
Vote Farming - well it is basically pool reward rape, the recent change in hf20 is aimed at making this more complicated as now you must wait 15 mins otherwise part of the vote is returned back to the reward pool. Self votes I believe are pretty well the largest oversight of the entire platform, obviously people will vote themselves if they can thus all of a self vote should be returned to the pool. You can just create multiple accounts and use auto voters but I still consider it reward rape yet when a community with curation efforts such as #OneLoveDTube comes into play that’s a whole different story. Honestly it’s a problem that can only be corrected from a development level and as long as delegation is a thing and people can get ahold of multiple accounts it will continue to happen.
Powering Down Waiting Period - This is something I am not familiar with as I have no intention to power down thus proving I am invested in the platform. I can see why lowering it may be good to attract investors but I can also see how it may bring the wrong type of investment, thinking get rich quick type investing. With the current waiting period it requires much forethought to be able to play the markets using your invested power thus many people hold plenty liquid just to be able to take profit off marketplace movements. My thoughts were more along the line of keeping the current 13 week wait period but including a option for 100% liquid payout thus allowing individuals to earn the rewards they may wish to use in 7 days rather then 13 weeks while still protecting the overall invested Steem. Psychology has a big part of investment in the free market and if people could power down quickly I’m almost certain we would see many follow the leader and spread FUD about the platforms demise in the process further crashing the price of Steem which would only benefit those aiming at manipulating the markets to increase coin count to do it all over again at the loss of others... it’s a bit of a vicious circle and I believe the waiting period is intended to protect the platform against said manipulation as 13 weeks you would most likely miss the peak of price unless thinking way ahead.
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I was sick for some days in holidays and could not check my phone because of that. Thank you very much for the detailed answer. That makes complete sense to me. @kevinwong is one of our steemit friends who has bee raising the issue of vote farming since so long . But there is no answer from steemit Inc team. May be they are more concerned about further project developments like SMTs. Development team doesn't seem to be much active. It takes months of time for them to release updates. May be I'm wrong too. I don't know how difficult formulating and coding new updates. But I hope they are trying to make this completely different crypto integated interacting space.