I am going to go against what seem like a growing community consensus and advocate we give Justin Sun a chance to bring his vision to Steem blockchain. What we have taking place is a power struggle between the old guard and the new guy on the block who is bringing a lot of financial resources and marketing to the Steem blockchain. It is important to note, that Steem was essentially a financially struggling project that miss deadline after deadline. This financial situation could not and I repeat could not continue forever, as it meant that content creators would never and I repeat never realized the financial proceeds of their content. What we have essentially taking place is a group of witnesses and developers who were simply taking from the ecosystem to pay bills and maintain development. Steem essentially had no outside financial commitments that could have off-set this financial strain. The community has to understand, that essentially there must be someone on the other side of the trade, its not magic money, its not helicopter money, someone has to pay for it. The status quo of Steem cannot continue like this, Ned or Dan is not putting financial resources into this and you have someone who is willing to take the risk and put significant financial resource into the network and we are essentially blocking him in the name of decentralization.
I want the Steem community to think carefully about their decision, are these witnesses and developers willing to put their financial resources on the line to get the token at some respectable value where everyone benefits? We cannot jump the decentralization beat at the expense of a community that has been financially abused for the last 2 years. The bear market is the biggest signal that things needed to change. I am not against people trying to preserve the legacy of what they believe Steem should be and I respect that fight but I also believe its important that we entertain someone with the financial resources to get this ship sailing again.
My steemit communitment, I ask you to think this out because we as a community would make the biggest mistake if we throw Justin Sun away. We are making a lot of critical errors here, Justin Sun to date is the only person that has come to the rescue of the Steem blockchain. Dan Larimer and Ned Scott has moved on, they are not putting anymore financial resources into Steem, in the name of decentralization don't jeopardize your financial future. Lets be honest, blogging here has been a shitshow for the last year and half, only a few people make anything significant that they can say its worth it. We are here as a community because we simply love the chain and see its potential but the leadership has led us down a road where financially this could not go on any longer.
To Justin Sun, I know you would feel disappointed and you are being attacked but I ask that exercise some patience with the Steem community. I believe there is a push to maintain the Steem blockchain which are genuine and most folks are against migrating to the Tron blockchain. I believe there is a future where the Steem community can utilize the benefits of both chains and we can grow this community stronger and create a ecosystem that is beneficial to all. I hope the next meeting brings some form of agreement going forward. This is my two cents on the matter
Very reasonable words, I don´t get why they are so undervalued vs. the 99th "vote you witness" post is still hyped.
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Its a power struggle that's taking place, for some, it would mean losing control of what used to be a easy game system for them. You have to look at it from the point of view of whats been taking place on the platform, do you realize once a new blogger shows up on the platform and manages to get significant support with their blogs taking trending page, it often ends with that person getting flag off the platform. Just think about it for awhile
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Indeed, like a few oligarchs are figthing despotism and for this they mobilize the whole community and telling them how democratic they are.
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The entire financial value of cryptocurrencies, including STEEM, comes from speculation at present. It is entirely sufficient for STEEM to remain listed on exchanges for it to have value. It's really just brainless speculative games and that's all it is. Crypto speculators treat all altcoins as quasi-derivatives of Bitcoin. STEEM, among thousands of other altcoins only has monetary value because it's a speculative vehicle. They are not a very discerning bunch. They will throw money at anything, anything at all as long as it's listed on an exchange.
The next Bitcoin bull market will solve all of our financial problems. I'm sure of that.
The Steem blockchain code is ready once SMTs are tested. There is no need for Steemit, Inc any longer. Justin Sun can dump his holdings and cut his losses (he may have been misled or have been allowed to harbor in certain misunderstandings about the chain while negotiating with Ned). There rest of us will pick up the cheap Steem. Then whatever development or marketing needs to be done, will be funded through Steem.DAO. When that is done, this chain will fulfill its true promise as a DAO as opposed to a chain dependent on a single entity like Steemit, Inc or now the Tron foundation. If Justin Sun wants out, I have nothing against it.
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Lets be honest, none of the witnesses or developers have the financial resources to support the chain. This was a burning ship that was sinking in the middle of the ocean. No one was making anything from blogs, just a select few. All the witnesses and developers were doing was pulling money from the system to pay bills and maintain developments that always miss deadline. Steemit and witnesses were the biggest bears on the platform selling millions of Steem. This scenario could not continue, Steem take a mental toll on a lot of folks, I know folks who invested thousands of dollars and probably never get back that money, one guy cannot face his wife and another loss a house. There is a lot of sad stories. We may not be the typical bitconnect but there is a lot of like stories once you start asking question.
Even a simple new blogger who manages to get a couple upvotes end up receiving flags because some folks think he is making to much money, the signs and flags were waving at us, financially this could not go on any longer. Witnesses run a server and dumps to maintain those server, no money is coming in, think about it. Justin Sun deserves a chance to change things around here
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It's ALWAYS been like that! Did I not say that STEEM, like all cryptocurrencies, receive its value from speculation? Bitcoin is pretty much the only one that may have a value proposition that makes sense but only because the fiat system is so broken that a hedge against hyperinflation is necessary.
The only difference between the worsening situation since the third quarter of 2018 and the bull market before that was that the latter period (the bull market) saw Bitcoin being grossly overvalued and additionally sparked an altcoin rally on top of it. The price action is cyclical. Steem has already emerged from the deepest through and was well on its way to gain value along with the altcoin market before the Tron deal was published.
It's not the witnesses' job to pay for development or infrastructure on Steem. It's the speculator's job as usual on the altcoin markets. STEEM is a quasi derivative of Bitcoin. On content alone without any speculation going on, it would earn enough for the price of STEEM to be 1 cent at best. I did some calculations last autumn.
Bloggers on Steem are vastly overpaid. To monetize a blog in the real world is much more difficult.
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So by saying all that you were saying, you were happy with the way things were and want it to continue that way. I am trying to understand the alternative that these folks are putting forward outside of Justin Sun. From what you saying, you saying that the Steem users would have to foot the bill and the witnesses and developers continue to dump on them as usual. That precisely what you saying there
What is the alternative, can small bloggers like myself make anything on this chain, or any blogger that outside the circle of a few accounts that regularly vote for them. Look at it this way, the same witnesses and same folks regularly vote the post to trending and before someone gets there and happens to continue to make a little money, they receive flags.
Look at the way Bernie was behaving, flagging everyone else and upvoting his post, he was making a point of the shitshow that was here. This simply could not continue like this, we have at some point in time have to think of the speculators as well, this cannot be a one way street
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Not just users. Any speculator in the crypto space. Software development is real, honest work. Steemit, Inc sold tokens to speculators to be able to pay developers in dollars. There is nothing questionable about selling tokens to pay developers in fiat. The whole chain would not exist if it weren't for the developers. One developer equals to thousands of average level content creators in value.
Yes, thanks to speculators particularly during a crypto bull run.
The reward distribution is like that everywhere. Rewards follow a power distribution in any creative industry. You make it sound as if the same witnesses and folks regularly earn a lot deliberately remove rewards from the little people by downvoting them in an unfair and greedy fashion. That is not an accurate picture.
The EIP solved this.
The speculators come when Bitcoin enters another bull cycle again. If BTC doesn't do that, we're fucked. You wouldn't not find a businessman willing to fund rewards at this level outside of the crypto sphere. The only way for normal bloggers in the wider world to monetize their blogs is to create quality content and get serious about SEO and marketing.
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From what I am reading here, you seem pretty happy with the dysfunction that was happening here.
What I gather here, you seem pretty happy riding Justin Sun as a speculator as long as he pumps your bag and he cannot get to have his say. Life does not work that way, hence the reason so much stop using the platform. Give him some time to articulate his way forward, nothing really happening for Steem outside of the SBD speculation which most of the witnesses ironically are against, but they are the first to cash out on the community.
The relationship that exist right now is parasitic, such relationship never works out. The Steem community was drain and financially bankrupt, I hope witnesses and developers recognize this fact and show a little more appreciation to Justin Sun and try to find a way forward.
If it was me, I just bought out Steemit stake and you as a witness, just nullify my stake, I honestly do exactly what Justin Sun is doing. I am trying my best to be a honest broker here. I like to see the Steem blockchain maintain but I also recognize the investor in the driving seat is Justin, it was Ned and Steemit INC before and look what it brought us. Steemit INC and witnesses were selling thousands before the bull market and even then, they did not save and plan ahead, they were slow to implement other revenue stream and only under desperation started allowing advertising.
We cannot continue Steem status quo, if you see speculating as the way forward, then good luck, there come a time when that kind of parasitic relationship gives way
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