RE: Feedback Wanted: 4 Week Power Down
The thing I dislike about it most is that it enables more funds to be lost from a one week powerdown by a hacker.
How about 130 weeks instead of 13? 1300?
- There are hundreds of tokens with no staking.
- Make a alt account you dont use, put all your funds in it and delegate to your main account.
This is a major non-concern that relies on making the case that people are dumb and cant manage their funds so their Steem must be locked for longer.
I agree with aggroed as far as the investment issue goes: if someone just wants to speculate in the coin, they can just avoid powering up.
Thats painfully stupid and shortsighted. You want your community to participate more in trading. Those that believe most in STEEM are the ones that will create upward pressure on the price since they are more likely to buy in. Having only speculators, which we do now, that only simply follow BTC price movement is what is screwing us.
In summary, I don't see any likely value-add from this change, and I think Steem holders who get hacked will lose more money as a result of this change.
Fear-mongering over a very unlikely occurrence makes for a very poor argument.
Ok, you make several arguments, so let's start at the beginning (hopefully I address most of them):
No, I'm making the case that most people won't do this, either from inexperience, laziness, or the mistaken belief that it seems you share that this form of hacking doesn't happen often in Steem. I think it's easy to make this case from observed data alone.
As support for the above argument, you also point out "There are hundreds of tokens with no staking". This is quite true, but most often these coins don't share an important characteristic of Steem: in Steem, users often use their keys in many web-based dapps. This is because Steem is truly more of a utility/dapp token than most coins, which are generally more for financial transfers. This is really a cool feature of Steem, but it also means Steem users are more exposed to phishing attacks than many other coins.
I'm not arguing for having more speculators, I'm only arguing that it is feasible to speculate on Steem without powering up SP (and hence keeping liquidity of purchased Steem). Now while it doesn't sound like you want speculators, some do, and complained on this point, so I was addressing how speculation was still possible.
In this case, I think you're making a poor argument by labeling this "fear-mongering" as some kind of perjorative. This is a real thing, that happens quite often in Steem. Maybe I see it more because people complain to us when their funds are stolen. But it's not that hard to find many people who have posted about losing funds from their accounts due to these phishing attacks.