RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)

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RE: Hardfork 21 - Steem Proposal System (SPS) + Economic Improvement Proposal (EIP)

timcliff in #hf21 • 6 years ago (edited)

It was discussed at length. My 'vote' was technically for a 10% reduction in witness pay too (as well as SP inflation). The main reason against it though (that I do agree with) is that it affects backup witness pay too, and a lot of the backup witnesses are already running at a loss.

One of the nice things about the SPS, is that once we have a funding source in place, it is then possible for the community to fund changes. If someone wants to make a proposal to the SPS to fund development + testing for a change that increases backup witness pay, decreases top witness pay, and adds more funding to the SPS - that is fair game.

If the system works as expected / hoped, then we basically have a framework for these types of improvements.

6 years ago in #hf21 by timcliff

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indigoocean 6 years ago

Is there no way to restrict the reduction to only top-20 witness rewards?

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timcliff 6 years ago

It is possible, although it would be more development for Steemit, more things to test, which would mean more time before the fork. There is already a lot of pushback from the hardfork containing too many changes. At this point, most of us want to get something out the door so we can start working within an improved system. There will always be the option of making more tweaks later (such as updates to witness pay), and after the hardfork - we will have a SPS to pay for such things.

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sepracore 6 years ago

Will the backup witnesses still run at a loss with the implementation of MIRA? I assume the effective pay of all witnesses should increase in the near future since your cost will decrease?

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timcliff 6 years ago

Time will tell. From what I've heard, it will not have much of an impact on the costs for consensus (witness) nodes. It's a bigger deal for 'full' nodes and exchanges.

https://steemit.com/steem-pressure/@gtg/steem-pressure-6-mira-ymmv-rtfm-tldr-lgtm

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gtg 6 years ago

IMHO if top20 witness is not running at loss at this moment then they are doing something wrong ;-)
Hardware costs are negligible compared to time/effort spent to make Steem awesome.

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