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RE: Official Proposal For A Variable Amount To Power Down - Github Issue Opened
Agree no more. The powerdown process should be dependent on 1)how much steem power you have 2) how much you are powering down. 3) limit. I think for a certain limit, one should be allow to power down in much shorter time and if it does not represent something like 10 % of total power. This is basically same when u power down whole week 1/13 and you will get back about 8% in one week, but people may wonder why the whale power down everything.
I don't think I understand, can you give me an example?
Yes, for example, the limit to power down per time is 2000 sbd if you have more than 20000 to 50000 sbd. Then if you power down 2000, you should get a faster treatment than power down 5000. And if you choose to speed up the power down process, you can only use it once every month.
Still don't understand. First, sbd it's Steem Backed Dollars, they're already liquid, I suppose you mean Steem Power. If you have 13000 SP in your account, the withdrawal time is 13 weeks, with 1/13 (1000SP, in this case) of the entire amount every week. Are you saying if we power down less than the entire amount, we should get it faster? How fast? I still want to understand your proposal, it may be something that I obviously overlook and it may prove beneficial for other people.
Sorry i will try to do my best. Let take an example, a guy who has 10000sp, he just want to get some petty cash, so he decide to power down. If he power down full amount, it will be around 8% . But in fact, he may want more than this and because if this 1/13 rules, he needs to wait further but at the same time, his power down will not impact the liquidity of steem because amount is small.
So instead, we could set a cap let say 10% for those who want to cash out occasionly with say 3 days. And once he utilize this cap, he need to wait a month to recharge or if he want to cash out in the standard form, now he needs to take longer than 1/13 week to cash out.
Thats WAY too convoluted..
Oh got it now (or so I think). So, if a user wants to cash out quickly, a bigger percentage of this entire stake, he can do it once, for an amount set at 10%, let's say, but then he will have to wait for a while until his/her "withdrawal power recharges. That's an interesting way to put it but I doubt it will be easy to understand and I have no idea how many users can actually grasp it. But I'm writing it down as a further improvement, once the participation is really big.
Thanks for taking the time to explain :)