RE: Justin Sun, This is how you win our support...

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RE: Justin Sun, This is how you win our support...

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valued-customer in #tron • 5 years ago (edited)

@ned's stake made this an inevitability. I'm glad he waited to sell as long as he did. There were two possibilities in the sale: sale to a Goolag or bankster, or sale to a visionary that wanted to make Steem transcendent. @ned did good by us by choosing a visionary, and now let's hope Justin Sun has a great vision.

A problem we will face is that stake @ned sold is the ability to centralize Steem. The only reason it wasn't used to do that is @ned's philosophy, and now Justin Sun's philosophy is the controlling factor.

I think there is a way to resolve the issue that @bryan-imhoff suggested, and that is to change how we vote for witnesses. Presently our stake is undiminished on each witness vote we cast, and this is why 75M Steem can simply replace all the witnesses. @aggroed revealed that @yabapmatt had ~50M Steem in votes, so 75M is enough to install even top witnesses all by yourself.

But making witness votes 1 Steem 1 vote means that every vote you cast depletes your VP for witness votes. If Tron cast 20M votes for one witness, they'd only have 55M votes left. While Tron could probably control who gets to be consensus witnesses with 1/3 of the VP on the platform in normal conditions, they couldn't simply force all top 20 into power. They could force several, particularly if supported by whales like @freedom, @pumpkin, @blocktrades, and @berniesanders.

Thanks!

5 years ago in #tron by valued-customer

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whatamidoing 5 years ago

That's interesting. At first glance the math goes over my head but I get the main point. Ideally we can put as much power into the hands of community consensus (regardless of stake) but since we are working with DPoS, I don't have many ideas about how to do that which I am happy with so I tend not to write much on these topics.

My feeling is always that if we keep the right people around and keep working together, we will figure something out. The bidbots going really made me a believer in the witnesses. Perhaps it was naive of me, but at least things are much better than a year or two ago and its not just about the bull market.

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neddykelly 5 years ago

Thanks for the insights. Enjoyed reading your post mate

Posted using Partiko Android

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raycoms 5 years ago

If you do the math, they would just have to spread their stake to be able to vote in 20 witnesses. However, what you can't forget is that with 30 votes, you create more overlap making it more difficult. We have to get more steemians to vote and we have to get more people to powerup and vote.

This is the only way to "take controll"

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valued-customer 5 years ago

You are correct. If we don't vote for witnesses, it doesn't matter what rules govern how our VP applies to witness votes.

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