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RE: Proposed Changes to Steem Economy
I like the idea of taking the interest earned on Steem Power and using it for rewards, because we would actually be investing that STEEM back into great content that continues to better the site, but I think it would be better to make the "Power Down" cycle more like 6 months.. The point is to NOT be able to just pull out :/
People are able to pull out now with a 2 year period. Reducing the lock time period would actually result to less people pulling out, this is just how human psychology works. Throw someone in a cage and ask him how eager he is to get out, now throw someone in a cage with the keys and ask the same question, you will be surprised what their answer is.
No way. Why would anyone want Steem Power if you don't value it? And if we change the smart contract before it even finishes then how does this create confidence in any of the other economic parameters of Steem?
I mean imagine Bitcoin developers debating increasing the cap, or adjusting the inflation rate, or any of the economic promises that people bought into? With Steem we bought into a certain set of rules, and now before the 2 year period is up the developers want to change the rules. Maybe we should set it to change after the period is up?