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RE: Why you should vote for @themarkymark as witness
You got my witness vote a while back now, but I'd be interested to hear your take on the BIAS setting and the argument that we should increase SBD rewards to meet demand from the SBD pumps.
Many (most?) witnesses have decided to let things play out more and act of backstop (prevent SBD from falling below $1 USD) instead of a peg to 1 USD.
BIAS has been suggested and a few use it, I don't feel it's time to do it, it would require a very large bias to counter the amount of pumping is being done. I am not ready to suggest creating more SBD.
I'm ok letting it play out and see where it goes for a bit longer and just keep it from falling below $1 USD if we need to. The increase in SBD has in return pulled STEEM up significantly. Forcing it at this point, especially with the current market conditions can have a dramatic effect on the price of STEEM which possibly could take a long time to recover from.
I do value highly a stable pegged asset though as commerce depends on it.
Thanks for your answer. For what it's worth (probably not much) I think the many (most?) witnesses are taking the easy way out and shirking their duties. I understand we have a strong ideological slant toward anarcho-capitalism amongst the powerful here which is part of the collective decision to do nothing about it.
As you say yourself, it would require a large bias to counter the pumping. So a small bias would have the effect of rewarding authors (the real creators of value on the platform) without crashing the SBD.
We also need a stable pegged asset for commerce. We lost it and are in danger of falling further behind in the market cap rankings. Curation incentive is also now dead. But we overlook these things for short term gain of a temporarily pumped SBD.
Anyway, I'll cut it off there so I'm not ranting at you. Thanks for the time you took to reply.
I think a lot of witnesses have thought about it and actively chose to do nothing, and a lot are just not here to care. So it's a bit of both.
I think authors are being rewarded pretty damn well already with SBD being so valuable.
1000% agree with that, I put a project on hold because of that. Witnesses just were not given the tools needed to accomplish that effectively.
You should ask questions.
you are very lucky
please follow and help me