This really needs to be done if we want more people to recognize and adopt this coin into their portfolios. Only good can come from this!
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Hi Harmonauts,
Iâve just joined after purchasing some ONE and was disappointed about the 1k minimum for staking. Iâve got slightly over 100 tokens and have voted for the 100 limit. Can anyone tell me when these changes from the vote are likely to come in to effect?
Thanks 
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gave my voice for 100 $ONE as I support @leoâs point of view;
also, just imagine if to delegate 10 $ONE when the delegator is going to feel benefits and core idea of staking with such a stake?
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I get so many people wanting to stake lower than 1000 and people cannot compound until 1000 coins.
It can take quite some time to reach 1000 ONE and the likelihood you will spend it increases⌠I have spent rewards before they reach 1000 because it would take ages and it is literally sitting there doing nothing when I can cash it out or put it in another coin.
If I was not a validator and had a good experience with another coin because I was unable to compound, I might be tempted to undelegate more and move them to another chain.
I vote for 10 but not only to attract smaller stakers but to encourage compounding from delegates already staking.
It would help people (as others have mentioned) from poorer countries to use it as a savings account.
10 ONE is only 1.12 (right now), which is nothing to most people here but for comparison.
85% of Africans live on less than $5.50 per day
](85% of Africans live on less than $5.50 per day)
India offers the most competitive labor costs in Asia, with the national-level minimum wage at around INR 176 (US$2.80) per day
Thailand - $7.50 a day
You get the picture - so 10 one a week, is quite a lot for the poorer in the global society and offering a HIGH INTEREST saving account that will not only provide interest but will also rise in price would be foolish to not offer.
It would also be safe away from incredibly unstable economies and corrupt governments / Financial lenders and institutions. Remember Zimbabwe?
It will provide extra promotion and actually doing a good thing for the world.
I think the only thing to add is to lower the min withdrawal. I mean I can send 0.1 ONE but I cannot claim it as a reward.
I also advocate for the Autostake functionâŚ
[UPDATE]
4.4 billion people â 71% of the global population of 6.2 billion â lived on $10 or less per day in 2011, according to a Pew Research Center analysis of the most recently available data.
âDr. Stephen Tse introduces Harmony, a high performance blockchain aiming to serve as the global consensus platform for 10 billion people.â
Harmony should try to live up to that statement.
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I believe 10 is good
since we believe the price will up to 10$,
it is also faster to redelegate if the minimum is 10
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100 ONE is fair enough for âOnesâ who new to harmony.
@Maffaz That is a killer post. I changed my vote to 10 after reading this. Thank you for bringing in a societal angle to this discussion.
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To be honest I voted 100 before I thought about in a global scope. We will literally be alienating Billions of people!
4.4 billion people â 71% of the global population of 6.2 billion â lived on $10 or less per day in 2011, according to a Pew Research Center analysis of the most recently available data.
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You can simply throttle by address and clearly state this - Only 1 delegation every X [MINS | HOURS]
I am the king of getting banned by APIs for refusing to throttle client-side if not forced to do soâŚ
If you allow it, I will do it, if you donât, then I wonât
And of course, I would not allow it server side haha
[UPDATE]
Would it not make sense then to have the Min stake Dynamic based upon Price?
If the price goes up, min stake goes down.
If the price goes down, min stake goes up.
Hi guys, I just renamed from ONEforAll to ONE4All.
As I said, as a new validator, anything that can help small stake is great for the community. In consequences I voted 10 (but 100 is a good step in the right direction as well).
I agree with Maffaz with his arguments in favor of the low income people and the compounding capability.
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Thank you everyone for voting. Letâs go for the majority for now which is a new minimum delegation of 100. The next step here is to have the:
- validator community to vote on the proposal here. Take note note that we have release an update of the hmy which also allow validator to vote via cli : Voting via HMY CLI - Harmony
- delegator community to reach out to your validator and ask them to vote
Iâve also reach out to @rongjian and he mentioned, if approved by the validators, the change will be available at the next release (though I donât have a date for that)
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I like the idea but letâs do a change one at a time but more importantly, i feel like that one should have itâs own thread for discussion
To add to this discussion, I think it would be a good idea to consider adding a no minimum requirement to pools that already have the minimum staked. Meaning if the minimum is set to 100 and i have 3 validators Iâm currently staked in, I should be able to add my rewards to these staked validators with no additional minimum requirement. Just makes sense to do this for folks who donât have deep pockets but will be able to add to their existing staking pools with no issues.
The alternative way of doing this requires someone to unstake their positions from the target pool and then restake an EPOCH later with the rewards. This means those coins are taken out for full EPOCH before being restaked. I do not believe this is the solution we want the community to use for staking.
Money should not determine participation in the new economy it should be 1 for ONE.
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I donât understand the argument that staking is the equivalence to using the network itself. Delegation is not a prerequisite to use the network, the network first and foremost must be stable. The goal of Harmony was to build a chain that can scale to 10 billion people and be affordable to those people, Harmony achieves that as there is zero barrier to entry. If the goal is to expand to 10 billion people and you have billions of people compounding their staking after receiving 10 ONE, itâs going to just cause massive amounts of unnecessary network congestion. I donât think we should sacrifice network stability for the sake of virtue signaling, not to mention people in those poor countries could care less about staking and more about being able to transact without government overreach with almost zero fees to do so. Thatâs the real goal.
According to Harmony, scaling is not an issue so network congestion should not come into play. Otherwise it would suggest that Harmony is not capabable of handling many transactions, which if Harmony takes off, there would be a lot more ânetwork congestionâ than delgators simply compounding.
IF every ONE holder ONLY had 10 ONE AND they actually delegated it that would still only be 1.2 billion ONE
Harmony has stated it can easily scale to 1 Million TPS. - and even to 10 million TPS.
With an average of 12k ONE per holder = MAX 1 million tranactions at the same time compounding. So this would be 1 sec of network congestion.
I am being generous as MANY holders have 10s, 100âs of thousands or 10s millions.
The worlds poor people do not want to save ONE, gain interest but they want to spend ONE?
So if they want to save they have to use potentially corrupt institutions with what? 0.02% interest to save but they are fine to spend ONE beause it is so great?
This will not attract more people to ONE if they have to save for an entire month to save enough to delegate.
It has already been noted that the original cost of delegating was $3 ⌠This is now $140 and we are proposing it to be $14.This weekend it could be $22 again.
This is not virtue signalling, this is the reality of the global population and I have detailed it above and we have have voted to alienate the poorest in the world because they do not have enough money. The poverty cycle continues.
If ONE does not decide to accomodate that, others coins will and indeed, already are - Or central exchanges.
Why would you even buy ONE in the first place to spend it when you could just I dunno, use Fiat instead of going to the hassle of converting it in the first place.
And why choose ONE if other Coins allow you to stake even < $3 .
LOTS of people are using staking as a savings scheme and having delegators keeps the chain secure and stakers are rewarded as such.
IF there is a concern about congestion (going against Harmonys claims) we can limit the amount of times you can delegate in a certain time period. 1 day, 5 days âŚ
I feel this proposal has offered little information about exactly what the implications regarding security or congestion actually are?
I get 4 choices but I have no idea how this would affect anything?
If 10 ONE is a problem, why is it included as an option?
If it is not a problem then seriously, why do people have a problem lowering it to 10? and not even 10? how low can we go?
Voting has been ideological and based on unfounded assumptions and I am not sure that some of the arguements expressed for keeping it higher hold much weight.
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I like your points. I canât help but think about ADA when you bring up Africa. As you probably know it cost 1 ADA to send a transaction. Already a good portion of your example. Now with fiat value increasing I wonder how that plays out. I think your point is well thought out and hopefully the right eyes on the Harmony team will see this. Would be an amazing step
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Yes I saw that on twitter but as usual, it is nothing major atm and a lot of âwe hope toâ and âwe want toâ and âwe signed an MoUâ (Not a contract)âŚ
We will see what happens there I guess
I donât single out Africa, there are poor people everywhere in the world and options to save / invest with some sort of meaningful interest rates are limited to those that have more money, including at this moment Harmony.
Aside from that, the possible adoption would be huge and surely would increase the price and hasten the path to decentralisation.
I think the 100 proposal will go through but again, not properly thought out or discussed and Harmony is missing out on a big opportunity for global adoption.
It wonât be long before other protocols corner this market because they donât a high (or even any) minimum amount to stake and sometimes with greater interest rates.
These protocols already exist and Harmony will suffer as a result if there are continued efforts to alienate 50% or more of the global population.
Can we also lower the validator minimum to 100?
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It seems to me that the proposal has passed. 
Do we know when the change will actually be implemented?