The drama of the Steem/Tron partnership continued today with no promising route forward.
Following the inconclusive meeting between Justin Sun and selected Steem witnesses last night attention returned to the witness rankings.
The large Korean stake holder @proxy.token played a decisive role causing major shifts in witness positions.
The Meeting between Justin Sun and the Witnesses
As reported in yesterday's Steem News a number of Steem witnesses were invited to a first meeting with Justin Sun yesterday. The meeting took place at 2am UTC on Zoom and was invite only.
It was attended by Justin Sun and Roy Liu from the Tron Foundation, as well as Eli Powell of Steemit Inc, and well over 20 witnesses including @fredrikaa, @starkerz, @cervantes, @someguy123, @followbtcnews, @roelandp, @themarkymark, @klye, @netuoso, @ausbitbank, @lukestokes, @aggroed, @liondani, @timcliff, @svemirac, @theycallmedan, and @anomadsoul.
The meeting was recorded and made available...
And also at...
This meeting had been brought forward by a day.
A number of Steemians have posted their summaries and commentaries on the meeting including @ura-soul, @bengy and @taskmaster4450...
The Battle for the Top 20 continues
Aside from the continued Twitter storms against Binance and Huobi exchanges, the focus of attention today was on returning the original witnesses back into the top 20 positions.
The day started with at least seven witnesses back into the top 10, and even more at one point.
Then the very large Korean account @proxy.token arrived on the scene and used its 6.4 million Steem Power vote to return all the Tron backed witnesses to the top 20 slots.
This shock move was explained in a post from the SteemCoinpan @sct account...
The post expressed concern about the current situation and stated that @proxy.token will vote for the original witnesses as soon as they confirm their position on the following issues...
- Are you willing to shorten the SP power-down period to three to seven days from current period?
- Are you willing to remove down-voting policy of STEEM blockchain?
- Are you willing to introduce smart contact into the STEEM block chain?
- Are you willing to introduce a paid subscription model?
Downvoting in particular has been an issue of concern for the Korean community on Steem for some time and was in fact raised at SteemFest.
Negotiations were hastily initiated between a couple of of the top witnesses and representatives of the Korean community.
After an hour or two it was agreed that @proxy.token would vote for 7 of the original steem witnesses to move them back into the top 20.
@blocktrades. @good-karma, @roelandp, @yabapmatt, @anyx, @someguy123 and @ausbitbank are currently holding slots #1 - #7...
While 7 is not a hardfork enabling super-majority, it does provide the required 4 witnesses needed to block any hardfork initiated by the Tron backed witness block.
This will prevent the hardfork proposed by Steemit Inc / Justin Sun to reduce the powerdown period to 3 days. The Binance and Huobi accounts are still blocked therefore from a rapid powerdown to restore the STEEM liquidity to their exchanges.
With neither group of witnesses having a super-majority to implement changes a stalemate has now been reached until some major by either side.
It is understood negotiations are going on behind the scenes.
The next public happening will be the open Town Hall scheduled for Friday 6 March. No details of that meeting have yet been released.
Twitter Action
Steemians have been extremely vocal today on Twitter, with the Binance and Huobi exchanges bearing the brunt of their attention.
Others have been sharing their thoughts to their followings including Steem's co-founder Dan Larimer...
I’m super excited to see how STEEM community is getting out the vote and keeping control decentralized. #dpos is resilient when under attack.
Former owner of Steemit Inc, Ned Scott has also been active on Twitter today...
And in a long 12 part Tweet, Ned begins...
I love both Steemit and Steem. They are weird and awesome. I've been humbled and proud to see a thriving community grow from nothing. From the people creating amazing content, to developers building new dApps, to the witnesses who secure the chain.
Reaction from the Community
The community has been very vocal in expressing their views on the current situation, and in encouraging everyone to power up and vote for witnesses...
Coverage in the Crypto Media
These current activities on Steem are attracting considerable attention in the crypto media...
- CoinTelegraph - Huobi Withdraws Steem Votes, Admits to Mobilizing Customer Funds
And in other news...
@streetstyle has posted the winners of SPUD XI - @stuffbyspencer, @techcoderx, @mafalda2018...
@radaquest has announced some new free games, and a profit sharing scheme...
IBT Survival Island @ibt-survival has released demo 3 of the game...
- Bitcoin.com - IBT Survival Island - This weeks update - Demo3 shortly
@hashkings are looking for funding support through Fundition and Patreon...
- Bitcoin.com - Hashkings seeks funding
@blocktrades has formally announced that they have suspended the buying and selling of STEEM and SBD.
Their liquid STEEM has been powered up for extra witness voting...
- Bitcoin.com - BlockTrades' Steem wallet is temporarily disabled
Steem Proposal System update
The Steem Proposal System (SPS) today has a daily funding budget available of approximately 2732 SBD.
There are now 10 proposals receiving funding from the SPS - @yabapmatt (Steem Keychain), @netuoso (Vessel Desktop Wallet), @thecryptodrive (SBD Potato Top Up), @anyx (API infrastructure), @howo (SMT testing), @steemonboarding (Steem Onboarding), @themarkymark (Global Blacklist API), @fabien (Steem Connect improvements), @openseed (OpenSeed : Cross-Platform Off-Chain Solutions) and @steempeak (SteemPeak developments).
These successful proposals are currently receiving a total of 1335 SBD per day from the SPS...
There has been a sudden upsurge of funding activity on the SPS - possibly as a side effect of witness proxying which is reflected on the SPS voting.
Ten proposals are now being funded with the latest addition @OpenSeed gaining its first funding today. One of the OpenSeed founding team is @andrarchy who has just resigned from Steemit Inc.
KEY DATA [ from CoinMarketCap & @arcange ]
| Steem price | US$ 0.190 | 05 Mar '20 2.58am UTC |
| CoinMarketCap Ranking | #78 | 05 Mar '20 2.58am UTC |
| FCAS Score | 757 / A | 05 Mar '20 2.58am UTC |
| SBD price | US$ 0.814 | 05 Mar '20 2.58am UTC |
| No. of Whales | 45 | 03 Mar '20 |
| No. of Orcas | 369 | 03 Mar '20 |
| No. of Dolphins | 2217 | 03 Mar '20 |
| No. of Minnows | 9333 | 03 Mar '20 |
| Alexa rank (steemit.com) | #15,704 | 04 Mar '20 11.11pm UTC |
| Unique visitors (steemit.com) | 199,595 / day | 04 Mar '20 11.11pm UTC |
| Page views (steemit.com) | 459,068 / day | 04 Mar '20 11.11pm UTC |
Follow @penguinpablo, @steem-data & @steemdapps for more statistics.
This is #275 (04 Mar '20) of this daily news service.
[ graphics & images by @pennsif ]
oddly I am starting to like all the drama and the attention and the fight that it has brought out is Steemians.... I do believe we need to with this battle no matter what, but IF WE do, it will be one of the most defining moments in blockchain history.
!popcorn
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I am hoping we can soon move on positively and start to capitalise from the great new facility of Communities that we have got.
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This totally deserves a....
@tipu curate
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Upvoted 👌 (Mana: 10/15 - need recharge?)
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I hope the negotiations are swift so we can get this show on the road! :$
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Indeed with the arrival of Communities, we have a great new tool to start building with.
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Ned's Statement on early mining and growing network.
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Thanks for the Twitter link.
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Hi @pennsif
Great summary as usual. You missed an article I put out on medium which was taken up by a crypto/steem publication called steem world.
https://medium.com/steem-world/trons-hostile-take-over-of-steem-blockchain-77a0b2120147?source=friends_link&sk=01d28c78b15894ff3e65b1c50056b8c4
The steem version of the article uses more terminology that steemians know:
https://steempeak.com/hive-148441/@raj808/an-amq-answer-my-questions-with-justinsunsteemit-tron-s-hostile-take-over-of-steem-blockchain
I think it's very important at this time to get the facts out on places like medium, and twitter so that this doesn't end up a steem discord echo chamber as things so often do with steem issues. I've been on twitter, like many others, for many hours a day for the last 3 days.
A lot of people don't understand PR, and why Justin Sun is saying what he's saying on twitter. With knowledge come power, and the tools to provide a clear, consistent counter narrative based on facts. That article provides a perspective from someone who has experience and knowledge working in PR in the past.
I've listened to that YouTube video of the witness meeting with Justin Sun and I'm pretty sure he's just after getting ROI at this point. Seems Ned might not have given him all the facts.
Anyway, let's all keep the pressure on with tweets, especially with exchanges as that is the biggest story to my mind because it seems the legality of what was done is suspect at best.
Together we're all showing what people power on dpos is all about!
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Thanks for this. There is a a lot of material to digest at the moment!
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I appreciate that @pennsif.
I heard you speak in town hall the other day and I think we need more level headed negotiating tactics like you were trying to get across. I tried suggesting some stuff at the end of last nights town hall and didn't really feel like I was listened too whatsoever.
We can argue amoung ourselves in discord for a week, and all that will do is give Tron time to plan their next move. Crazy steem echo chamber doesn't help sometimes.
Anyway, much respect for what you do each day putting these together. Believe me since I started my community I understand how much work it can take managing things at this level. writing for two accounts and answering so many comments is a full time hobby... if there is such a ting lol
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I'm just going to listen to the rest of last night's meeting.
I'm hoping there will be a happy ending, although I guess it will end on another cliffhanger...
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Ha ha, well if you make it the full 5 hours or whatever it turned out being, it ends with me blathering on about how they should go into meetings with an agreement in their minds about the least they want and the most they want and then try and negotiate from the top down to get the most out of any deal as possible.... crazy, I know!
I'm known for my crazy steem opinions 😂
P.s. I can't take anymore debate about all this to be honest. I've gotta step away from it for a day at least for my own sanity ;-)
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Good to hear the situation has been stabilised by user stake so that negotiations cam take place. Equally good to hear that discussions are going on in the background. The ideal would be a swift win-win resolution and conclusion so that we can move on.
Negotiations are going to be complex: there is the (lack of) development team and how any replacement would be financed and managing the resolution of the ninja-mined stake without a dump. While stakeholders like myself are not dependent on an income from our stake, there are others working on the chain in various ways that do. We don't want to make that impossible, as it is part of the strength of Steem.
Well done to the community for mobilising, keep voting, let's get everyone engaged, that's another strength we can build on in the future.
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There is another 3 hours of talks to listen to in my latest Steem News...
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Thank you. I think 😂
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And thanks for the reminder about the #SPUD winners list being released - I've been so busy on Twitter, I almost forgot I have a drawing to do! 😂
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You're welcome.
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Tack(Swedish)
Asante(Swahili)
متشکرم(Persian)
Merci(French)
Thank you(English)
Gracias(Spanish)
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Excellent recap @pennsif!
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Thank you Jacob.
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Congratulations @pennsif! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
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always good to get your posts giving us the lowdown!
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Glad you find the news posts useful, thank you.
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