RE: Feedback Wanted: 4 Week Power Down
I don't have that huge a problem with 4 weeks itself, I'd just like more consideration to be given to a more comprehensive solution than just changing a single parameter. In particular, as I've mentioned elsewhere, I'm pretty sure this will result in people losing more money due to phishing attacks that obtain their keys. There are many web services that require entry of Steem account keys and this means people get use to using them without enough care.
On balance, as an isolated change made now, I think the disadvantages outweigh the advantages of this change.
I haven't really given much consideration to if the change would bring BlockTrades more business in the short term, but I'm afraid that increased financial losses by Steem holders from hacks would result in bad publicity and would be worse for the long term value of Steem (of which I hold a lot). So I'd prefer to wait for a more considered method of making such a change, before endorsing it.
These are similar to my feelings as well. I simply don't think the suspected pros outweigh the suspected cons for this change personally.
I would suggest to determine the length of power down via the Reputation score of each user. For example Rep. 25-50 should have 13 weeks, Rep.51-60 could be 8 weeks and everything above Rep. 61 has the option to power down within 4 weeks.
This would also help to encourage users to ramp up their Rep score and therefore boost activity on the chain.
Someone who has Rep.61 is less likely to be scamed here on Steem because he has proven to be around for some time.
What do you think about this?
Maybe instead of getting 1/4 of your funds each week, it should be rewritten so you get 100% of funds after 4 weeks. That way people have 1 month to figure out they have been hacked. Isn’t that the maximum amount of time anyway if someone resets the master password? Then the risk of hack is the same as now and you still have a 4 week power down for faster fund recovery.
Yes, that' s one possible solution, especially if combined with some change to the UIs like steemit/esteem/steempeak to make it more prominent when an account is doing a powerdown, so that owner will be alerted.
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