RE: All Hivvers Vote - Community Poll on Powerdowns
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I don't use hivesigner, and apparently dpoll doesn't support hive keychain, so I won't vote on the poll itself. But I believe it should be left at 13 weeks.
- It reduces the impact of voting from short term thinkers and speculators. I believe this is a net positive for governance of the network. This is the primary reason I favor 13 weeks over 4 weeks.
- It also acts as a security feature, giving users more time to recover their account with most of their vested funds intact, if they accidentally leak their keys.
The main argument I usually hear for reducing the powerdown time is that it discourages investors. But I don't think this argument is very compelling, because you can invest in Hive without powering up. And please don't tell me no investor would do that because he doesn't get staking rewards: as a counter example, I've done it myself many times in the past. And I know of other large stakeholders who've done the same.
If there's going to be a change, I think it makes more sense to make liquid Hive more attractive for short term investment. I see the new Hive->HBD conversion mechanism as one example. It's a perfect profit mechanism for people who like to speculate: they can arbitrage HBD whenever it starts to escape the peg, and profit from that.
Thank you for this response I appreciate it immensely. I agree with this reasoning both for security and long term vision. Also I do not feel that we need to persuade anyone to come to Hive just to speculate short term. I agree that the Hive<->HBD conversion mechanisms need to be improved as you have previously proposed.