how to make weighted skinning?

I’have creating a mesh,
parented it to a armature with single bone using “empty groups” option.
i’ve assigned vertexen to the group using weight paint.

Now, in pose mode, moving a bone moves all non-zero vertexes.
I expect that green, weight 0.5 vertexes will bend half-a-way with bone.
Is it supposed to work this way?

If you’ve only got one bone like that the mesh will bend from the bottom (the tail of the bone), shifting the mesh in an awkward way. If you want the mesh to bend you will need two bones. Here’s an example where the only difference is the number of bones. If you want the top of the mesh to have a smooth bend you could add weights from the lower bone to the middle vertex ring at the top.