The Quora HIVE Awareness Initiative by @theycallmedan

in hive-148441 •  5 years ago 

These are my answers to the Quora HIVE Awareness Initiative by @theycallmedan

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The Nijna Mine

Steemit Inc. had basically just given themselves a massive amount of steem when the blockchain launched. This was not mined by the witnesses, it was just there, like magic! So not mined by witnesses as every other steem on the market was mined.

You know how ninja attacks work? They take you by surprise. One minute you're there and then next minute, BANG! You've been hit on the face! You don't know where the attack came from! Ninja Attack!

Exactly! We don't know where the Steemit Inc. stake came from or who mined it, aka NINJA MINED!

Why did some of the Steem witnesses decide to block the Steemit Inc stake from being used to vote for witnesses?

Now, this much huge stake, if was used to vote for witnesses, then there's effectively no chance for the community to decide who the top witnesses should be and thus decentralization is lost! The control of the chain goes to one single entity/person. This would make the blockcchain extremely centralized and defeat the purpose of decentralized social media that it was supposed to be.

While Ned Scott was in charge, he had promised never to use that to vote for witnesses and based on that promise a lot of people invested into steem.

But after Steemit Inc. was sold to Justin Sun of Tron, there was all sort of confusing and ignorant information that was being thrown out from the Tron team and Justin Sun himself. While the witnesses and large stake holders tried to communicate with him tirelessly, he just wasn't bothered. He held one of the stupidest AMA in the history of AMAs that raised more questions instead of giving answers.

With all of this happening concerns grew what exactly is Justin's intention with steem. He didn't show anything that the community could trust him to not vote for witnesses using his newly acquired Steemit Inc Stake. And he kept on tweeting stuff like the steem tokens will be moved to the tron chain, there will be a token swap, the dApps will swap....etc etc. to all which the witnesses and the community was not going to agree on. And the only way Justin could achieve what he wanted was by voting with his Steemit Inc Stake.

And after numerous attempts at making Justin talk and communicate failed, frustration grew among the witnesses and there was genuine concern of Justin doing something shady. I mean he isn't the most reliable person on the crypto space. Add to that, he just recently used his stake on Tron to vote for witnesse after having promised to not use it. It was clear to all of us Justin is not a Man of his words.

And thus to protect the interests of the community, for the sake of maintaining decentralization, the steemit Inc. stake had to be frozen by a temporary soft fork. Yes, it was an unfortunate solution the witnesses had to come to, but it was the only solution given how arrogantly Justin continued to ignore the entire community and the top 20 witnesses who were maintaining the chain!

What is the Steemit-Hive blog fork issue all about?

What followed later just validated our concerns and also pointed out some of the flaws of the steem witness voting system.

Justin Sun bribed his friends at the exchanges, namely Binance and Huobi to use their customers' funds, without their customers' consent and powered them up to vote for witnesses and launch the Hostile Takeover of the Steem Blockchain. His own exchange poloniex was obviously involved too, lol!

And it was clear at that point there was no working with Justin Sun. He was extremely unreasonable, and criminal minded to say the least. So a Hard Fork was inevitable, the only way to move forward. Justin Sun was extremely unreasonable and difficult to communicate with and didn't actually understand how the social media blockchain functioned. So obviously Everything he was planning to do would end up damaging the blockchain.

So on March 20th, the much anticipated Hard-Fork happened and a massive majority of the steem community moved over to the HIVE blockchain.

Will the Hive blockchain beat the Steem blockchain?

Only time will tell. But the initial signs are extremely promising. The community here is now more active and aware than they ever was on the steem blockchain. It seemed as if the steem blockchain had come into stagnancy and there was no moving forward.

But this hard fork was the spark was needed and I can't remember so much activity ever on the steem blockchain in months as we've seen on HIVE in just two weeks.

And the price differences clearly point towards the interest the community has in HIVE. Even at this time of panic all around with the corona situation and people cashing out of crypto, HIVE has held it's value constantly well above 20 cents, staying over 25 cents at least 90% of the time and hitting above the 30 cents mark for a decent amount of time as well.

So while no one can say what will happen in the future, the signs that HIVE trumps STEEM in every aspect are clear.

Difference Between HIVE and STEEM

You could go on an on about the differences. But just a few really basic differences based on the discussion so far :

  • There is no Ninja Mined Stake. It was excluded from the snapshot.
  • Voting for witnesses on steem is instant, meaning you could vote for witnesses immediately after you power up. This allowed Justin sun to use exchange to power up their customers funds and launch a hostile attack to take over the steem chain. Thi is changed on HIVE and there's a 30 day delay between powering up and using that stake to vote for witnesses, reducing the possibility of such hostile attempts at taking over the chain.
  • While on steem your posts can be censored (or as I like to call it, SUNscreened) if Justin Sun doesn't like it or you sat anything against Steemit Inc., there is NO CENSORSHiP on the HIVE blockchain.
  • While on the STEEM blockchain, Decentralization has become a taboo, here on HIVE we are relishing Decentralization.

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This was originally posted on the HIVE Blockchain.
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