RE: I opened a protocol PR: scale DHF payouts when HBD printing is suppressed
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The only time the proposal is uniquely effective is when the rate is dropping down to near zero
That is the circuit breaker you have.
I am proposing a circuit breaker that kicks in before zero and is programatically predictable.
You propose people to buy HIVE and unite to defund proposals, that creates social chaos because it generates disagreements. Having a programatic features to defund makes it predictable and no one has to argue and fight against projects they use and love but know they can't afford.
I wrote a lot here and deleted. I am tired, boss.
Your point on hbd_print_rate is technically true. Not worth going over again why economically it is nonse due to the DHF, which BTW has value, it is just unnafordable in current market conditions in any token it could pay.
Side point: I don't think there's any need for people to buy Hive to defund proposals. I just pointed that is the primary mechanism we have now: stakeholders vote, and the more they hold, the more their vote counts. In other words, there is a clear mechanism for anyone who wants to have more influence in votes (this point was made to address your two-class argument).
But right now most of the DHF proposals are already getting defunded. Certainly faster than we could get a hardfork through that programatically prevents spending. The biggest proposal by far still getting funded is the HBD stabilizer, and it would be complete idiocy to programmatically defund that, IMO, since it actually earns money for Hive.
And if it turns out stakeholders then change their mind and decide they do want to spend, they would be stuck waiting for yet another hardfork to be able to spend again.
The whole proposed mechanism is a bad idea, IMO.