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General Discussion / Why 1 share can be voted to any number of delegates?
« on: April 30, 2015, 01:57:45 am »
If one has 50% shares, he can make himself all 101 delegates whatever others do. Currently one only needs 25% to achieve this because nobody gets more than 25% votes. Actually the percentage needed to monopoly is much less. Considering that the current 101th delegate has about 8% votes, it is hard not to suspect that all the current 101 delegates could be actually controlled by 1 who occupies more than 8% bitshares or very few people combining together. This is definitely not decentralization.
Why not make 1 share voted to only 1 delegate? Was there any discussion about this before? If it is difficult to implement or use, a simpler version can be to share the vote. Say 1 share is voted to n delegates, each should get 1/n votes instead of 1. I feel this would be more fair and to the point of decentralization. A whale can probably control a few delegates but that's fine. Permitting a whale to control all or majority of delegates is not the correct idea. There must be improvements.
Why not make 1 share voted to only 1 delegate? Was there any discussion about this before? If it is difficult to implement or use, a simpler version can be to share the vote. Say 1 share is voted to n delegates, each should get 1/n votes instead of 1. I feel this would be more fair and to the point of decentralization. A whale can probably control a few delegates but that's fine. Permitting a whale to control all or majority of delegates is not the correct idea. There must be improvements.