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RE: Don't "Vote for Witnesses", your vote does not matter.

in #steem • 8 years ago (edited)

Upvoted for interesting and novel analysis. Not sure if I agree with all the conclusions, but that's not really the point.

A possible correction and a question:

Suppose we took out every user in the Top 19

Should this be top 50?

So what do the Top 19 witnesses do with their powered down funding, ammounting to about 550 USD per day, at current prices?

I don't understand this statement. I've been a top 19 witness almost since the start and my power down funding this week was "3849.954 STEEM" or about $230 per day

8 years ago in #steem by
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     8 years ago (edited)

    I agree. While the data is interesting, I agree not all assumptions are 100%. At it's core though, yes, steemit can say who gets into the top 19 and who doesn't. The steemit account alone has enough vests to single-handedly make 19 brand new accounts the top 19. I think that is the primary concern here.

    I reblogged this post because I felt like it had an interesting analysis; I do not, however, believe you shouldn't vote. Voting makes a big difference.

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     8 years ago 

    The steemit account alone has enough vests to single-handedly make 19 brand new accounts the top 19

    That is the reason that "Decline Voting Rights" feature was introduced in latest release.

    An account can chose to decline their voting rights after a 30 day delay. This includes voting on content and witnesses. The voting rights cannot be acquired again once they have been declined. This is only to formalize a smart contract between certain accounts and the community that currently only exists as a social contract.

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     8 years ago 

    Oh wow how did I forget that. Excellent point. I would like to see some discussion on current witnesses declining voting rights.

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       8 years ago 

      Thank-you, and fixed & clarified.