RE: The APR On HBD Savings Should Not Be Lowered
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The problem is that this is all going down regardless of what the average user thinks. It's fully up to the 21 Witnesses who make the final decisions. They aren't asking for our opinions, they are telling us what THEY want to do. This system is not decentralized and cannot be decentralized with a coded in bottleneck such as this.
When we are seeing decisions being made through guessing rather than economics, then we know we have the wrong leaders in place. I for one don't want to be told what's going to happen on a decentralized platform. I want to be asked my opinion and see long term of Town Hall discussions taking place.
This is how we tap into the wisdom of the crowd to get all of the info and find those knowledgeable within the area under discussion. I hope the key players step back and slow down, because they are being hasty and not allowing those with the necessary experience to weigh in.
With LeoFinance getting ready for a huge marketing push, this is the wrong time to make this change. They'd essentially be eliminating a great asset for onboarding when we need it the most. Too bad they didn't market this when it was first put into place, which shows that the wrong people are making these decisions.
Most people don't vote or change their witness votes. Vote for people signalling 20% APR if you are against this change.
If enough people do this, it can change up the top 20.
Agreed, but to actually be decentralized we need more options to get involved. For now though, yes reviewing your witness votes is all we can do.
Exactly! Buy Hive, power it up, and vote for people who want to keep 20%... Easy peasy... 🙂
Why buy Hive, when you can circle jerk and get them for free :)
@3speak lost my vote signaling 12%.. plus not responding when questioned. @themarkymark was on it answers including links.
3speak was signaling a lower rate months ago.
maybe. . But no one pointed it out. I'm really more aggravated they just ignored me when I asked a question. Obviously my vote doesn't count or isn't needed.
Nobody pointed it out to me either, but I still knew. It shows up on the witness list if you use PeakD. I give that page a glance over at least once per day while I'm online and not lost in the forest without a phone.
Shortly before summer (I think) some kind of big name influencer (I think) on twitter (I think, but I could be wrong) called this entire HBD thing a scam. Later that influencer (I never even heard of the guy so I have no clue what he actually does) had a debate with @theycallmedan, and Dan mentioned his 3speak witness, talking about how they're signaling a lower rate and why, explaining how the system works, how it's not a scam, how it's decentralized, yadda yadda yadda. The recording is somewhere on Hive. I stumbled into it. It seemed like a big deal around here for awhile.
Don't take it personally if someone doesn't answer their phone right away, dude. Maybe they'll write a post and offer their reasoning like some other witnesses have, rather than communicating with everyone individually. I dunno.
Shit happens.
I use PeakD too.. but I'm horrible about reviewing witnesses and what they're up to.. don't get me wrong I love 3speak.. we'll see if a explanation is coming
This whole thing will certainly take some time to sort out.
We run an open podcast on CTT every week on Saturdays. We discussed the decision to lower it to 12% months ago on CTT. We also run an open dev meeting once a week on Thursdays.
We will literally let you on the show to ask your questions and discuss with us. Ur invited on the podcast if you want. Or you can come get involved in the dev meeting on Thursdays
I’m not sure when you asked any questions to us. I don’t have any DMs from you either.
Maybe try DMing me and we will do our best to answer your
I certainly appreciate your response.. I've actually never been involved in a podcast.. as far as a dev meeting... no need to prove my lack of knowledge.. I'm gonna pass on that one. Do you have a link explaining why you believe the APR should be lowered., because right now I don't think it should.
We will address it on Saturdays podcast. We have spoken about it several times publicly on podcasts. We have a very clear picture why this is not the way and will go into it on tomorrow’s CTTPodcast
Awesome I'll keep a eye out for it.
That was fast.
At least it will make people start to question their witness votes.
What you bring up is valid. People, no matter what their stake, have to take responsibility for their votes.
You just hit me upside the head with that one. I have had a proxy since I started here and now will revoke that and vote on my own!
How do we find out which witnesses are signalling 20% APR?
!CTP
https://peakd.com/me/witnesses
There is an APR column, that is what they are signaling for HBD APR.
Thank you for clarifying that @mrtats
!CTP
!ALIVE
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This is very helpful. I'm changing my witness votes right now. I don't like those that want to lower APR.
I think the witness votes need to work differently. Either 1 account =1 vote or some equivalent 2 votes at 50%.. 4 at 25%.. etc
I agree, staked weighted just creates Oligarchies and cannot be decentralized.
All that you wrote here is true. I will be writing an article tomorrow that addresses much of what you brought up.
Finally people are catching up to what I've been saying for five years.
Cg
I've been saying this for years