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RE: The Most Voted Witnesses In The Last 3 & 6 Months! This Is What Witness Vote Expiry/Decay Would Look Like (Kinda)

in #steem6 years ago

Interesting. I like your idea.

Just thinking out loud.

  • Wouldn't it be great if a limit was placed on how much each vote's worth could be? That way, @freedom wouldn't get to choose our top witnesses.
    • Can you imagine if in real world politics your vote was meaningless because the rich voters had more power? People would rebel.
      • I understand there needs to be a balance of power. Larger stakeholders have more at stake, so perhaps their vote should be worth more. Maybe a balance of power could be devised, similar to what the United States tried to do with having Congressmen and Senators. Congressmen represent the people and in theory Senators represent the many states (stakeholders).
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Well, there is a contradiction there in that you are saying that in offline politics people would rebel because they see themselves as democratically equal, but you recognise that those with more money should have more say.. We can't have it both ways! ;)

My idea is that rather than limiting the amount of worth each vote can have, we simply limit the amount of witnesses that each account can vote for - down to maybe 9 or 5.

The problems in real world politics are too numerous to go into. haha

I like both your ideas.

  • Being able to vote for 30 allows a few huge accounts to control all top 20 witnesses. Limiting the number they can vote for would certainly be a step in the right direction. At least then, the majority of users might actually have a say in the other witnesses. That is needed.
  • I also like your idea of vote decay. Some of the scenarios you tossed out could already have happened. (A whale moves on and his witness vote lasts forever...)Here in the states, we tend to vote back in most incumbents. Once politicians get elected, it seems near impossible to replace them.

Congressmen and Senators

Senators are Congressmen, by the by. As for your suggestion for a vote cap: unless that cap was sufficiently low such that major stakeholders were in competition with much smaller shareholders, I don't see how it would make much of a difference. Additionally, many of these high power votes come via proxy, which compounds the voting power of a number of users to boost the overall weight of the vote.

I think decaying votes is the most straightforward solution to addressing the problem of witness voters not renewing their votes and then dropping off somewhere. While the entrenched witnesses may still end up there, it at least encourages a refreshing of everything from time to time.

Go take a look at @reggaemuffin 's comment/suggestion below, ref:

https://steemit.com/steem/@ura-soul/the-most-voted-witness-in-the-last-3-and-6-months-this-is-what-witness-vote-expiry-decay-would-look-like-kinda#@reggaemuffin/re-jackmiller-re-reggaemuffin-re-ura-soul-re-reggaemuffin-re-ura-soul-the-most-voted-witness-in-the-last-3-and-6-months-this-is-what-witness-vote-expiry-decay-would-look-like-kinda-20181006t120630520z

and my response to it.

This line of thought that he brought up could actually be an answer to many things, including but not limited to:

dead voters (& in turn dead followers)

  • RC's that are just sitting there and not being used!

;)