Voting Power Debate

last year

There's been a lot of talk on how people use or abuse their mana or voting power on a decentralised platform. Decentralised suggests that there's no single autonomous power that rules or governs the platform. There a few people who are in charge to help things stay on course. I hear those on the top of the food chain are even divided when it comes to the matter of mana/voting power. Well, everyone is entitled to their opinion and this is mine.

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Do You Want Mana/Voting Power To Be Used Freely?

No! No!! No!!!. In as much as it's a free platform, it doesn't mean there must not be any rules. Every society is governed by rules and when the rules no longer work, we become just like animals. Can you say you worked tirelessly at 2 jobs to make some money and because you are rich now and can afford to loose some money, you will burn some dollars or currency. Yes it's your own money, yes you worked for it, yes it wasn't donated to you, and yes you can't use it whichever way you want. I believe it's criminal to deliberately burn any currency in the world.

You worked tirelessly to build your mana or voting power, or you bought it and powered up doesn't mean you use it without rules. What happens to a community built on the idea that people post content and receive rewards from the whole community if all you do is share your rewards with some selected friends. In the real world, we've all seen the result of selfish politicians and businessmen, why do you want to be one? Why can't you help make the platform a bit better than the real world. Mana/voting power shouldn't be used anyhow because it might impact the growth of the community and new users or people with no friends on the high table will be left out. This will reduce the platform to only people who have a lot of mana or voting power.

Do You Want Certain Limitations In Place For The Use Of Mana/Voting Power?

Yes I do. This question is linked to the first question and since I'm of the opinion that mana/voting power shouldn't be used freely, then I believe there should be certain limitations on the use of mana/voting power. For starters, there should be a limit on self voting. It should cost you at least twice the mana/voting power to vote your own post, and the reward should be at most, half of the expected return. For example, a 100% upsmoke for yourself costs you 200% of the usual and yet, the rewards is just 50%. Doesn't matter whether it's a post or comment. For the circle voting, I have no idea how that can be limited, but I do believe it should be limited.

That's my opinion on how mana/voting power should be used. You agree/disagree, lemme hear your thoughts.

#vote #votes #votingpower #mana #community

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I like the selfvote suggestion, but you know what the usual reply to the issue/topic discussion is, right?

“Alt accounts and Sybil attacks.”

Gini Simpson’s diversity index (wiki article) could be a solution and over at Steemhunt it has helped lower the impact of circle voting (mostly by alt accounts) but as Ned always says “It’s a UX issue”. Just like Steemhunt designed its own ABV (Account Based Voting) system, any dApp can do that. But computationally it is very expensive on Steemhunt and it is calculated only every 4 hours because of that (over a rolling 30 days window). Imagine the computational cost on a platform with not 300 but 30,000 daily users. And then we’re even not speaking of 3 million users. No witness will want to host that computational cost.

Here on Smoke, the selfvoting topic is actually more important even because the curation rewards are higher and thus selfvoting at an early point increases the author rewards by getting more from the curation pool but, again, the answer to that is to create alt accounts and trails and thus any other solution is again bypassed.

Any system has weaknesses and when [financial] rewards are at stake each weakness will be found. Because of that, personally, this time I side with Ned, even though he’s on another platform.

“It’s a UX issue.” :D


Means it will definitely happen.


What means what will definitely happen?

The so-called “hostile behavior”? When every loophole will be abused? Yes, that has been proven time after time, no matter how well designed concepts are. For example delegation. Delegation is a beautiful tool and powers a lot of the economy of STEEM. Also negatively due to bots.

Anybody could use a form and set the rewards beneficiaries to an alt account and then selfvote via their alt account. No need to even downpower then, just get all rewards in your alt rather than in your own account. Then selfvote with full stake from your alt.