I think I've got a handle on the voting mechanism now. Image 5 people are running for office (like the party primaries in USA when anyone can run). When you vote, you get ONLY ONE VOTE and might want Candidate #1 to win (you might respect candidate #3 also, but then again, you only get one vote).
Election Process
************
Vote is held. Votes are counted.
Did the winner win by majority (>50%)? {Had the largest MEG votes(balance) > 50% of those voting (or remaining to vote).}
If YES, they are elected. {Grant award goes to them.}
If NOT A MAJORITY, the candidate with lowest number of votes is removed from the ballot and the vote is held again without that lowest candidate on the ballot. Some who voted for that candidate will be disgruntled and not vote again {you have no backup grant proposal}; others will vote for the other candidate that they respect {these are your next highest grant proposals}.
So, as you can see, if you want your candidate to win, you need to vote for them first. If you vote for your backup first, then your real favorite candidate might be voted out.
Yes - this is close. I think you're describing Instant Runoff or the Alternative Vote.
MemoryCoin uses STV - here's a simple worked example . .
https://en.wikipedia.org/wiki/Single_transferable_vote#Example(For more specifics, we use the Droop quota and the Gregory method)
Thinking of it this way, I see several revenue opportunities.
First, you can sell your votes to someone for a specific amount of time. {I have 280 votes....}
Second, a voting pool could be created where people can vote for the pool grant proposal. If successful, the reward could be split among the voting pool electorate. This has added advantage of killing off the hoarders.
It's in voters short term interest to vote to receive the grant funds for themselves . . . they maybe get 1% or 2% extra . . . but it is in their enlightened long term interest to vote for grant proposals that work to support the currency . . then the value of the currency increases by 100% or 200%.
Right now 21stcenturymoney is building a block explorer and linux clients . . you can support him by voting for his grant at
MVTEoEomFfe7WuSEepMLsorgYzCQGBVw1z
Give it a high preference please!
