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RE: Reducing the number of witness votes
What does surprise is me how little @gtg trusts the other people with SP to be able to vote good witnesses to power.
I also support change to the current system, since I've heard multiple times that there's only one account, freedom, deciding who gets to be top witness and who doesn't. That's a state that is not desired in a public, decentralized blockchain.
I don't think he distrusts others but trusts himself. However, this is steem and the way people use their SP isn't always in the best interest of the platform. Freedom has a large effect on the order but most will stay in the top 20 even if they lost that vote.
Perhaps not consciously but what other reason could there be? In the end it comes to the thought "Can I trust that in the end, there are other people with enough SP and good morals to make sure Steem will have good top witnesses"
Either one has that trust in itself or they don't. Perhaps decreasing witness voting slots would encourage current high SP holders to actually care who they give Steem via upvoting rather than just selling them for the highest bidders...
Steem is a blockchain, decentralization is something we should strive for. One account having enough power to decide who gets to be top witness and who not is something that will drive people away from the platform, the ones with serious money, who we sorely need here to drive adoption. Those people look at the fundamentals.
I'm still in favor of limiting witness voting spots, 7 could be a bit extreme, even though I'd want to see that happen, yet I'd settle for 10.
But I have to say, this early, with a lot of development going on and need for many hardforks, perhaps this isn't the right time to start bringing more politics to the system. Once Steem matures a bit more, in a few years, it could be time to start discussing seriously about this.
That's my 5 cents
yeah it is early which is why there has to be some protections in place. If there is a 5 billion in Steem cap, it makes it much more expensive to buy witnesses later. Thanks for taking the time and thought here :)
No problem, it's good to see these ideas being brought up and that some are thinking how we can improve the foundational aspects of how Steem operates. The more discussion that happens, the better.
Actually it's the other way around, that's why:
Problem is not with those who has high stake that are voting, but with all those who has their stake and are not voting.
When you take a look at number of people voting: highest voted (number of votes) witness (not me) has ONLY 16k votes. Top10 has less than 9k, Top20 less than 7k, and Top30 barely 5k.
16k voters can hold super majority of SP behind them though, I believe the plankton feel like they have no effect on top witness positions, I got close to 6k SP and even I feel like that.
Limiting votes to 7 or so would get people a lot more involved because they can really have an effect, this would ensure more competition for these witness spots and more value would be gotten from these witnesses that are able to get these positions since they would have to fight for their positions.
But those are my thoughts at this moment and could be wrong.