RE: When will we need to buy $10,000 of votes to get on the Trending Page?

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When will we need to buy $10,000 of votes to get on the Trending Page?

in steemit •  7 years ago 

Let's hope the best...
Witnesses:
Do they introduce themselves properly?
Do you know what their...
powers ?
responsibilities ?
rights ?
duties are?
They all seem to be around a little longer...
But except saying, that we should
vote for them as witness, they don't
say much about their "role".
Well ups , i read an older post, that was a
little worrying...
They will hold a big power over whole
SteemBlocks...controlling the
whole currency !?
Is that the non-violence philosophy
of Dan Larimer?
Well, i don't know !?
But feel free to teach me...

steemit
7 years ago by

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      ·  7 years ago 

    To put it simply, as Steemit grows, their role in the top 20 position will rely less on their ability to produce blocks and more on their leadership. We will call it "Proof of Leadership". They wouldn't necessarily have control of the currency, but instead they could conceivably have control of blocks. They could plot with other witnesses to maliciously change the blockchain. If they did this or if there were any indication that they would do this, votes would be yanked and they would find themselves removed from the top 20 position and tarnish their reputation forever. If they did anything that would lead to the devaluing of STEEM currency, their own holdings will become devalued.

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    2 votes
    [-]
      ·  7 years ago 

    Decentralization with Leaders, yeah?
    Ok, this is what happens in case of abuse..
    But what are they leading exactly?

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      [-]
        ·  7 years ago 

      In some cases, they are not doing a good job as leaders. I recall wondering if a couple of them were 12 years old from things they wrote. I have started the first of several challenges for witnesses to to grow into a leadership role. If they accomplish the challenge, they get our witness vote. Collectively we have 1/3 of a whale vote for the 1st challenge.

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        1 vote
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          ·  7 years ago 

        You have solid ideas. That's good. The currency needs stability.
        So when are the first "elections" planned for witnesses?

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          [-]
            ·  7 years ago (edited)

          Witnesses can be voted or unvoted at any time. Our system doesn't have a date. Our group uses one of their 30 witness votes on the witness that gets the job done. It is a boutnty. They do the job, then they get the witness vote. The witness votes costs us nothing. We can also change our mind and unvote at any time. It is a leadership vote and because of that, it doesn't affect our earnings whatsoever.

          Think of it like owning stock in which the stockholders have a voting right. You vote doesn't cost anything, but influences the decisions of the company.

          You can unvote or switch your vote at any time to another witness. It is not an election where the witness holds the position for a specific amount of time. The witness must always do good to keep the position. If they suddenly do something that is bad, then they can be instantly be removed from position.

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            1 vote
            [-]
              ·  7 years ago 

            Hi there. Respect for your Infos by the way.
            I know how the upvote system of the witnesses works.
            I already give a vote to ...markymcfly? promoted by build a whale.
            What do think of him?
            And yesterday i found Terry? from SteemGigs. I think he is
            honorable & worthy of being a witness.
            How can we propose a witness?

            Another thing, maybe you can help me with that.
            Like i said, i wanna thank you for your infos and
            upvote some of your comments, but this is what i observed
            last time i upvoted "strong SP accounts".
            My tradable token was set to a min. of 0.001
            my 100% upvote is only worth is 0.01 anyway,
            but when i upvoted his (about 5000SP)
            content, the blockchain sucked about 0.70 cent...
            out of where onto his content? My little wallet?
            Or how does this work?
            And is this constructed fair?
            Thanks again!
            Greetings
            Luca

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