I am working on a construction project at our house (finishing our basement), so I probably won't have a lot of time to post this weekend. I decided it would be best to post my witness update a day early.
Here is what I've been up to since my last witness post:
- I have moved up to position 64. Thanks to everybody that has voted on me!
- I successfully witnessed 46 more blocks! I'm 100/100 now :)
- I updated my witness and seed node servers for the 0.15.0 hardfork, and monitored to ensure the transition went smoothly.
- @the.masses account recovered from its reputation hit. It issued an interested apology letter: I said mean things about Dan, Ned, Bernie, and Steemit. Bernie Downvoted me. Now I have butthurt followed by a post Meme to repair @the.masses. The upvotes it received from those brought it's reputation almost back to it's "pre downvote" level. It also posted two videos from the "anonymous" hacking group. It continues to be an interesting experiment to watch!
- I continued to be involved with a lot of the GitHub discussions about feature additions and glitch reports.
- I submitted the latest Steemit.com Development Updates - GitHub Issue Report to provide the community with a summary of the latest updates from the Steemit dev team.
Over the next week, I plan to:
- Continue my involvement with existing projects.
- Work on additional scripts/tools for automating tasks on my witness node.
- I'm still working on a few projects in the background, but I don't want to share any details until I know they will be happening for sure. (Stay tuned!) :-)
I also want to follow @joseph and @clayop's lead, and publish my views on the proposed hardfork changes:
- Reduce inflation to 9.5%/year
Agree - Allocate 75% of the created STEEM to the Reward Fund
Agree - Allocate 15% of the created STEEM to the Vesting Fund as interest on Steem Power
Agree - Allocate 10% of the created STEEM to the Witnesses
I have mixed feelings on this. I agree with the sentiment given by @smooth in the main article discussing this, in that the community as a whole under-values what the top 19 witnesses are doing, and the idea that they are "overpaid" is not really justified/correct. Most of the money that the witnesses are making is being put back into the Steem project/community in various ways.
If it is going to help the overall community accept what the witnesses are doing and getting paid though - then in the long-term it will probably be good. It is going to be an adjustment though for many of the projects that the community is used to having. The leadership/witnesses are going to have to find alternative ways to fund a lot of the things that have been getting paid out of witness compensation. I'm not sure yet where that funding will come from. - Increase backup witness's pay
Agree - Increase miner's pay
Disagree. If the mining queue is going to continue to be dominated by the same two users, then I think this is a really bad idea. If the balance of power is going to be restored with the new Equihash algorithm, then I am more neutral. I still don't think that actual 'mining' needs to be further incentivized though, and would prefer to see this go towards additional witness pay (miners with responsibility) or into the community fund. - Witnesses and miners would be paid in STEEM rather than Steem Power
Neutral - Votes for witnesses would expire after 3 months
Agree, although I would like to see an easy to use interface for keeping your witness votes 'current'. - Reducing the Steem Power holding period to a minimum of 3 months
Agree, but afraid. In the long term, I think this is going to be a really good thing for STEEM, but I am very nervous what will happen in the short term. There is going to be a huge increase in supply of liquid STEEM. How many people will want to sell under those conditions, and how many people will be incentivized to buy is still a very big unknown. It could send the price way up or way down. We are just going to have to wait and see + hope everything goes well. Regardless of what happens in the short-term though, I do think this is going to be a big net positive in the end. - Reduce the SBD delay from 7 days to 3 (or 3.5) days
Agree
Thanks everyone for reading my witness report!
If you think I'm doing a great job, you can vote for me here:
https://steemit.com/~witnesses