If it happened to STEEMIT INC, it can happen to anyone now.
This is a clear proof of how easy it is for a gang of circle jerkers to control the chain, fortify their position, and rule against the competition or anyone who wants to invest in STEEM or gain more influence.
What we needed was a new voting system for witnesses, in addition to a way that would allow the value of the vote to decay overtime to deal with inactive users. But no, let's go with a retarded solution that will completely destroy the core value of the Steem Blockchain.
On Steem, the blockchain, where people can easily nullify your stake just because you don't have a brown nose ...
While we do need to change how witnesses are elected, as you point out, that would not have solved the problem the witnesses had: their positions were existentially threatened because @ned wasn't protecting them anymore, and Tron already has superrepresentatives.
There's ~210M Steem. @justinsunsteemit has ~100M of it. A lot of Steem doesn't vote for witnesses, because accounts have gone inactive, it's on exchanges, folks have lost their keys, and other reasons. This means that under any rational voting system, @justinsunsteemit can use that stake to replace the witnesses and undertake any HF he wants at any time.
Thems the facts, and Steem will be different after this is resolved. Either decentralized far more than it has been heretofore, or centralized as it always could have been.
Thanks!
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Totally agree. Perhaps some scheme, not unlike many democracies around the world, needs to be employed. A second House of sorts? Perhaps have it that the top 20 witnesses decide what new HFs are to be considered by installation of the new HF by 17+ of the top 20 witneses yet the new HF would only come into effect if 51% of all witnesses install it.
Just something off the top of my head.
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