RE: Steem Consensus Witness Statement: Code Updated
This is amazing. Real strength of this chain is shown right here. Gratitude for all the hard work of dedicated witnesses to make this happen and protect the Steem community.
Note—I also would like to see the views of those witnesses who have qualms with how things are being done to make sure there is not overreaction/overextension of limitation going on.
EDIT: Something that concerns me a bit is the "preparing for the worst scenario" mentality. It is possible that Sun and Tron intend to use some of those stakes benevolently in delegation or otherwise. (Actually, looks like they would still be able to delegate.) I know being optimistic is often seen as naivety, but by comparison it is equally imbalanced to expect a negative outcome.
The other quandary that comes up is whether or not this is setting a bad precedent for the future of this chain's politics. Especially in the scenario of substantial appreciation of the token value, I could see a devolution into petty squabbles among factions of witnesses ruining the integrity of the chain and undermining investor's trust in its viability as a store of value.
Self-upvoted for visibility.
Delegation takes steem out of your rewards.
It is not a benign act.
It is hostile to every other account.
When whales vote/delegate, we all get less.
Higher amount of STU rewards does not necessarily mean a greater value if no one uses the platform. Reducing rewards by re-allocating how and to whom they flow can potentially drive the token price upwards.
Higher payouts to authors brings authors.
We've been through this over the entire 4 years of chain history.
Unless those that can suck it all up let more escape, fewer will want to play.
Such is the nature of this crab bucket from the very beginning.
As long as sellers sell for what they can get, the price will only remain low.
It is up to us as a collective to stop voting rewards to those that sell for less than 4usd per steem.
When that happens, steem thrives.