Let's make the HIVE Power Down Period Faster!
Earlier this year when everyone was talking about speeding up the power down time period I was against it because I thought @hive.loans was coming soon. Fast forward to six months later, I'm starting to wonder if hive loans beta will ever get off the ground, and since we're still in a bull market, now is the best time to debate speeding up the power down period.
Speeding up the power down period to four weeks from 13 weeks would increase the price of HIVE!
The faster our power down system, the more liquid HIVE POWER becomes, since time is money, shaving time away from the power down will add value. Everyone must agree that 13 weeks in crypto can seem like an eternity, and to be honest I think instant power downs would be the best bet for HIVE moving forward. Faster power downs would also make us more competitive with defi platforms and benefit our community here as a whole.
There could even be an instant power down fee that gets burnt, or paid out to current powered up users creating another layer of defi on top of POWERING UP, to incentivize more users to actually stay powered up. There are all sorts of possible scenarios in which HIVE could make an instant power down to benefit all Hiveans.
STEEMIT sped up the Power Down period to 4 weeks and it seems like it helped their price!
It's not like speeding up the power down time is a new thing, STEEMIT did it and nothing bad happened. You could argue that because of their superior power down schema, that is the reason why their currency is more valuable than ours. I think if we did this move HIVE would at least double in value, if not quadruple. 13 weeks is way too long to wait to power down, if you agree then it's time to tell your witnesses that you want instant power downs for the next hard fork.
What do you think? Do you agree or disagree with speeding up the HIVE power down period?
Let me know, in the comments below, and pros and cons to fast tracking the HIVE power down time period.
Wait, arent we then triying to replicate steem success? I mean, are we still on steemit shadow?
There is no point making us lock up so long, doesn't make any sense. I don't think STEEM is a success at all, this is about us staying competitive and giving some of their users an incentive to switch over here too. I was just pointing out that it would not be a catastrophic event on our price because the change on steemit didn't hurt the price. Steemit with Justin Sun is a failure in my eyes.
Ok, that is a valid argument, If we wish to pull some steemers to us, it would be the minimum that they have the same benefits, but why stay on that trent?
We need the bloggers from wordpress, the tubers from utube, the twitters on dbuzz and of course, the selfie duck face photo thingy from facebook... Well not that one.
We should try to be more appealing for a new audience, be the gateway to a new thing, not become the facebook of blockchainsocialmedia. I dont know if locking up for 13 goddamm weeks is a good idea, for me is not, because im triying to power down in order to get some extra cash for the birth of the incoming baby, im still short by 150$ dolars. Still, i think its original intention to keep the backers unable to pull out suddently and avoid the hackers and keep then at bay for a short while, was a really good move at it's time. No im not so sure, but im new on hive so i let it to the experience and the veterans :)
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Siento que estoy de acuerdo con que los apagones sean más rápidos, pero no sé si haya algún problema que afecte la criptomoneda. Me gustaría saber en qué la afecta ya que dices que posiblemente aumente el valor de Hive. Un abrazo desde Colombia.
A shorter period would also help the price by not hodling the coins in different exchanges instead of powering up , just because it takes so long to power down .
Very informative post thanks for the shearing
Si el tiempo de apagado fuera en cuatro semanas ya el precio del hive estaría muy bueno actualmente ya que ha tardado mucho en subir. Ojalá se tome en cuenta su propuesta. Saludos amigo
Thank you very much for sharing the post, have a good day and a great mood
Greetings @coininstant, sooner or later you will have to do it or Hive will be left in the past.
thank you very much for the exchange ,have a good day
I propose 4 weeks for a powerdown without costs. Instant powerdown cost 10%, where the tokens will be burned.
If someone steals keys or hacks account do you think they would mind paying the 10% fee to steal all the account's HIVE in one fell swoop?
Of course not. But if you manage your keys well, that should not be a problem. Like all cryptos: not your keys, not your cryptos.
ENGAGEtokens.just get over steem
I'm over STEEM, It was just an example.
dont think it's a good example to imitate steem ^^
Our whole platform is an imitation of steem, it is a steem clone, lol!
🙈🤣🤣😅
If we also think of cryptocurrencies as a means of livelihood, a 13-week power down is an excessive period, as you wrote, an eternity
Sir, you have said a very good thing. I also agree with you
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PROPOSAL: reduce the power down to two withdrawal choices (ie with a choice by the user). 1 —- Withdrawal within 3 weeks without penalty. 2 —- 1 day withdrawal with 8% penalty.
We really benefit from all your posts
the news you've been waiting for
This might seem like a good idea because 13 weeks is a long time
I agree with you Power down time should be 4 weeks as Steemit did
Yeah especially with the new HBD arbitrage opportunities, the faster the better!
how? explain please.
How? I think @blocktrades already has a plan for this done, they will just code the new rules into the platform and hard fork the changes.
If @blocktrades has the plan, then there will be a lot of movement in the hive.
Wish they could be a faster tracking.😁
this is very much awaited for the increase in coin prices
Steemit rides the coattails of TRON so I don't think Hive can be fairly compared to Steemit that way. It would match the shorter power down period for some Hive-Engine tokens though.
this is very good news,, many people are waiting for the news, and hopefully what we want is achieved
I totally agree ! Same on other platforms but no one cares or even listen to that blatant logic .
Yup! This would be nice and beneficial! But the future is uncertain and prepare so fearful! Liquidity would add to its strength!
hello friend, 13 weeks of power down always seemed too long to me
Yup! Far too long!! Six weeks should be the maximum!
I think 4 to 5 weeks hive power down will still be okay.
Reblog your posting
I think reduction is a good one in the long has we get some kind of security. Price may get affected in the short time but it is good one going forward
Yeah I would be happy to see Hives powerdown to go down to similar to POB or LEO I would definitely feel more comfortable holding a larger amount of Hive powered up that way. 13 weeks is insane 4 to 5 weeks should be the most.
I agree with you. If the power down is reduced it will greatly help in terms of our volume has hive tend to get more liquid which will lot of investors who are scared of locking up their funds for so long. I believe the more the volume, the more the better. Since it worked for steem, it should for us too.
Reblog it
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Super fantastic information posting
I think by reducing the powerdown period, HIVE will go down because if the powerdown is fast then people will sell their hive more and more.
Yeah in the short run it may it might cause a little more downward pressure, however more trading volume is good for the market, and those that sold high would ten have more cash available to buy back the dips, causing a positive feedback loop. More volume the better for trading altogether.
I'm not sure about that. Look at e.g. ETH. The more people lock in their in ETH 2.0, the less there is available for trading. When there is demand, and not a lot of supply, prices go up.
If this happens, then the hive will go down and come up.
Pues para mi es algo raro pero si ustedes señores están de acuerdo a que es una buena idea pues me deja tranquilo gracias @coininstant por la info.
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I agree with you. great information
Thanks @coininstant
Have a nice day.
If this powerdown is done from 13 weeks to four weeks, will the price not go down?
From 13 weeks to 4 weeks would not hurt the price, and would still give us the security of a month in case we got hacked.
security is very important
Doing this may increase the price of hive.
Yeah that's what I'm saying, this update would double the value of the HIVE in my opinion.
According to you, the price of hive will be double that is correct but it will also dump it a little in the beginning.
Yeah there will be a little initial shock, but in time the market will get used to the changes.
Yes, there will be some volatility in the market.