You are viewing a single comment's thread from:
RE: This Proposal Is An Attack On SBD... Sound The Alarm!
The proposal puts small stakeholders at a disadvantage. You are only able to power down if you have 10x the account creation fee if I recall corrrectly. In the event of a price crash large stakeholders in powerdown mode would be able to cash out leaving the little guys holding the bag.
If Steemit.com wants to give the appearance of a Ponzi by locking 100% of the author rewards by all means. Please remember that perception goes a long way.
Talk about a shortsighted proposal...ugh!
The minimum balance for power down is denominated in SP or VESTs... The market price is irrelevant. If the price crashes, it won't prevent anybody from powering down if they would otherwise be able.
This isn't entirely accurate as the minimum power down balance is based on the current minimum account balance, not the minimum when the account was created. When the price crashes and the minimum expressed in STEEM is increased as a result, it becomes even harder for existing users to power down.
I see... That could adversely affect users. I'm not sure why the fee paid at account creation isn't the basis of that calculation.
There is no logical reason, that is just how it is implemented.
I never mentioned the market price. The account creation fee is denominated in Steem. When I joined in July it was 10 SP and now it's 30 last time I saw. Some witnesses have it set as high as 50.
That is a function of the market price of STEEM. The intent of witnesses who have raised it is to ensure that the "get $X.XX of Steem Power" offer to new users is at least reasonably attractive, and not just a few cents.
It's not something that has come up for me, since I joined back in July... I was under the impression that the power down minimum was based on a multiple of the amount the particular account was seeded with. If it is pegged to the witness parameter, I can see how that would be an issue for very small accounts...
I don't see it as something that would affect most users, though.
It is pegged to the witness parameter.
What is the current SP balance you need to initiate a power down?
It is around 300 SP