We Want Instant Undelegation - It cannot be so hard to calculate SP + VP!

in witness-category •  5 months ago

Let us do it right - Undelegation is the slowest thing on STEEM, and makes one wonder if the whole thing was coded in haste.

icon-verify.png

I would like to see the delegation/undelegation process happen as instant as possible in order to process faster

Example: I have 200,000 SP on two accounts I have 100,000 SP and 90% vote power on my main account and on the other account I have delegated 100,000 SP and it has 0% vote power. Now I want to take that delegation home, which should make my 200,000 SP have 45% voting power in total.

Example 2:I have 200,000 SP on 10 accounts with 20K SP on each account and different voting weight. What we do is to calculate the average correct: 5% voting weight + 7% +12%+24%+100%+8%+33%+17%+86%+100% on the ten accounts.

The average voting weight is 39.2% ish so when I take home my delegation, I will have 200,000 SP with 39.2% voting weight instead of waiting a week for it to come back with 100% voting weight.

No more gaming the delegation system

What was revolutionary with the 386 processor was the Math Processor, a STEEM is so much more than just another math processor, let us do this in a smart and safe way so we don`t waste our USERS or our own time that we can never get back as time is very valuable it makes no sense to have several days waiting for an undelegation to come back.

And since we are on the topic, consider undelegation of a portion for example 20% undelegation instead of 100% by default.

Some times it would be great to undelegate say 800 SP from one account to take home, problem is that to undelegate 800SP from an account that has been delegated for example 5000 SP makes it so that 4200 SP hangs in limbo for a week, or if instant undelegation all that SteemPower will affect VotingPower on the main account and if the point is to undelegate from Peter to delegate to Paul it be nice to control the piece of the pie that shall be served and that it happens rapidly or close to instant but also calculate the vote weight since the new delegation will contain the voting power the main account has when delegated.

SP+VP=LOVE

Actually I am not sure if it creates love. But I know that I love fast transactions and clever solutions on what many see as a problematic solution that has been with us too long already and I hope there are enough consensus and skilled developers who can create this magic for us and allow us to be better managers of our stake as Steemians.

Invitation to come and talk and chill with us

Thank you for reading, please support this witness by going to https://steemit.com/~witnesses and vote for @fyrst-witness. If you want to talk come and visit us and more than 5000 other STEEM investors/super users at http://STEEMspeak.com, a great place to network and make acquaintances

Sincerely,
@fyrst-witness
Come on everyone, support this idea :)

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Exactly!

Just read about the Wise tool today (Github-link) that could be used to bypass those 7 days. Actually using this there will be no need to delegate. Basically you set a X amount of votes (or voteweight) for a specific user on a daily or weekly basis and this user is able to vote via wise with your account (sure you need to calculate due to the curation reward but it certainly could be used for it depending on the use)

·

wow, thank you for bringing up our project in this thread :)

Yeah, total control of your VotingPower is one of the many benefits of using Wise in comparison to native SteemPower delegation. With Wise protocol, a delegator has a full control over how his VotingPower is spent... if he will not like a way, hot his VotingPower is used... he has a way to reverse all unwanted actions.

We are going to release an announcement about Wise in next few days, but even right now people can learn a it from an interview which @lukestokes made with me :)

The reason it takes 7 days is to keep people from gaming the system, so you are not able to move the same SP 10 times to 10 different accounts instantly and vote on the same post 10 times using the same SP...

·

nuff said

·

@fyrst-witness, I like your idea of taking the average voting power when undelegating but do you have a way to prevent things like this? You could use your entire account’s 5-day voting power by voting for one post repeatedly just by transferring the SP to a bunch of accounts that you don’t use. Maybe we could also have something in the code saying that the same SP can't vote for the same post twice, regardless of which account has the SP?

Or maybe another solution would be to allow instant undelegation at any time after 1 full pay period has passed? So, as long as it has been delegated for at least a week, you can undelegate instantly (voting power adjusted accordingly)

·
·

Can't really keep track of that, SP is just a unit getting moved around. what you can do is maybe add a "temp ban list" of posts to each one of the parties accounts with those urls so if one of the parties from say 100 accounts that got delegation from from 1 account voted while having delegated steempower the with the undelegation all accounts affected will not be allowed to vote on said post until payout. Problem is that this could be a huge loop to process so his method of correctly calculating voting averages still seems more realistic, and say the undelegated account has not used the delegation for a bit then you could get your delegation back at full power much sooner.

·

So you make the idea symmetrical.

When you delegate SP, the VP of the receiver is affected by the delegators VP.

Case in point:
Bob has 110 SP and is at 100% VP. Larry has 1010SP and has 0% VP.

NameSPVP
Bob110100%
Larry10100%

Larry Delegates 500SP to Bob.

NameSPVP
Bob61018%
Larry6100%

Larry removes his delegation

NameSPVP
Bob11018%
Larry10108.9%

The only way this system can work is if instead of Accounts having VP, is that every SP has a VP. This can be on a 1SP level to start but will need to reduce as the price of steem (in theory) increases.

Otherwise people with a lot of SP will be able to steal VP from those less fortunate. Such as Larry above

It would be great if one could do instant delegation and undelegation. But the creators had something in their mind. Probably they thought that people would game the system. Like the way it takes about 13 weeks to completely withdraw Steem Power into Steem.

This post has received a 100.00 % upvote from @booster thanks to: @fyrstikken.

This post has received a 21.99 % upvote from @boomerang.

·

Placing post links in the comment threads of other people's posts is considered spam, and rude.

the undelgation is such a problem waiting period is so long but i guess they did that to stop the abuse of the system through voting

i will vote and support and be the witness you are doing great

My support with you

Congratulations @fyrst-witness! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :

Award for the number of upvotes received

Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word STOP

To support your work, I also upvoted your post!

Do not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - Russia vs Croatia


Participate in the SteemitBoard World Cup Contest!
Collect World Cup badges and win free SBD
Support the Gold Sponsors of the contest: @good-karma and @lukestokes


Do you like SteemitBoard's project? Then Vote for its witness and get one more award!

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

·

I like your TTS service. Maybe you can expand it and produce an AudioBlog from the top 5 articles every day? That be cool.

I would love to hang out and chill with you guys i am a highschooler and I want to become a witness and better this community. Do you have any advice or supporting ideas for me? I am only a minnow please help.

·

Come to steemspeak.com great place!

Great to see those numbers and i never involved in delegation stuff but in my opinion whatever aspect it is in Steem Blockchain, it would be great if we have quick system, if it placed then that would be great.

Yes, undelegations are waiting phase and it can take time to return to main account once processed for undelegation, and if this time taking phase is removed then for sure we can see more effectivity in delegation economy.

@fyrst-witness, i really want to appreciate for considering this aspect and i hope that our talented and hardworking devs will look into this and possibly they will come up with some effective results.

Wishing you an great day and stay blessed. 🙂

I also want instant undelegation. Clever people should find a solution so people don’t game the transfer.

-upvoted-

When I upvote this topic the value went down can some body help and guide

·

The system is constantly adjusting post values based on the price of Steem. Although there are some other factors, it’s probably this. The price of Steem has fallen a little, let’s say it was adjusting the price of a $300 post down by 0.05%, which is $0.15. If your vote is worth $0.04 and at that moment it was adjusted down by .15 due to the falling price of Steem, it will look like your vote made the post lose $0.11.

·
·

Thanks for the input

Interesting post congratulations great job friend

The 7 days undelegation time is a feature.

An interesting article. I subscribed to you. Subscribe to me, we will be friends

I support you and idea
I also need some help coz I m new in steemit
Will u support me back pls ??????

https://steemit.com/food/@milandave2/snacks-at-home-and-oreo-shake

·

Placing post links in the comment threads of other people's posts is considered spam, and rude.

i have undelegate steempower from the new created account but, steem did not return to my account it was over 11 days. The steempower is undelegated from the account i have delegated but not return to my. Any help will be appreciated.