In this video i talk about steemit and their Steem funds. How some people tried to fork them out of the party with a "hardfork 21" stroke. I try to explain why they are powering down and my thoughts of this affaire.
What do you think about this?
(sorry for the long post but it is a lot to talk about and those are my theories and some words spoken might be rumors so watch this carefully.)
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I know that supporters of the hardfork will say that Steemit, Inc. did not fund development to the extent that they fully own the ninjamined stake outright and that early investors and miners were mislead to believe that Steemit, Inc.'s stake was in some sense committed to the community.
Is there some way to show that an investor employing reasonable due diligence should have been aware of these commitments without being an insider?
From what I can tell, there's no mention of commitments that I could see on steem.io, as seen from archive.org. But it is useful to look at it this way because it leads to a bitcoin talk thread.
On the bitcoin talk thread (the one linked from steem.io on 2017-07-12, as seen from archive.org:
https://bitcointalk.org/index.php?topic=1410943.0) it's clear that the blockchain had already relaunched (red flag #1) and that multiple OS builds were not being provided (red flag #2).I assert that reasonable due diligence would conclude
caveat emptorwould be in full effect at this point, even if the investor has no intention of mining, e.g., only buying in on an exchange. I assert it was obviously an extreme risk, even by 2017 and after the roadmap was released, and that there were no reasonable expectations of any commitments.The final message on that thread points to the next one (
https://bitcointalk.org/index.php?topic=1466593.0). Same conclusion.I would also assert that only insiders had direct knowledge of any credible commitments.
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It doesn’t look like anyone either
Thank you for this info since this is part of the puzzle I was looking for and just happened upon it while looking through the regular Dtubes and found this one to be a little interesting.
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thank you eaglespirit im glad you found this interesting!
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Hey Inertia thank you for this. i joined steem after those early mining days. I can not judge what has been offered or what commitments been announced. but kind of like you describe it, the very moment you decide to invest money or time you should research the circumstances and terms. then either accept them or deny. after years complaining about a pre-mined stake makes no sense for me.
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Not only is it disrespectful, it would also set a scary precedent. What happens to other accounts the community deems “bad?”
Posted using Partiko iOS
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exactly Mark! i see it like you. this would hurt the reputation of steem.
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This hard fork will never occured in the first place. I respect Steemit and the long term bear market does not help for the moral of the Steemians.
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i am agree this is very unlikely to happen but it was a danger, even if it was a small one!
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Wow wonderful post realy awesome
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thank you Urme i thought those are informations people should know!
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So ... That means steem is going up ?
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depends what they do with their powered down stake. if they sell it the price will drop down to couple of cents because they own a lot. but if they hold on to it price can increase. depending on so many other factors. [this is no financial advice , just my personal opinion]
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It seems to me that the HF21 was mainly to get their attention and to show people were not at all happy. It does seem to have had some effect. I like how you look at both sides of the coin. Good vid.
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that could be because such a fork is really unlikely to happen. i'm not sure if they achieved what they wanted with it.
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i dont think steem needs a fork. when we have the 3 already. why fix something that is not broken. thanks for the awareness
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it was probably a more political than a technical act
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agreed
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Secret Steem Committee Chat Dumps (rehosted):
https://mega.nz/#!lldHVKBJ!OCTGSltvSKvLMBTPdXbKFJMfMAVyhh6kHZ_SHnG0FsM
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thanks for sharing those informations!
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And STEEM will finally be free.
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free from what? it is now free!
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From the control of steemit inc.
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