Well looky looky! Seems like all the witnesses are coming together and telling @ned to stop powering down!
@timcliff
Open Letter To Ned/Steemit
@lukestokes
Is Steem Centrally Controlled?
@aggroed
deescalating-and-working-towards-a-mutually-beneficial-solution
@therealwolf
Dear Ned
Public Witness Statement
Gee whiz @ned, seems like the community really doesn't want you to power down.
What will you do?
+5 whales
Tomorrow Steemit Inc's first powerdown will commence, unlocking 2.6M Steem. This is the equivalent of 5 whales and almost 1% of all coins in existence. Take a moment to let that sink in.
@ned shows weakness
This perceived empty threat was never going to happen. The witnesses were never going to fork your stake, @ned, but now you've got them all thinking about it.
Self-fulfilling prophecy?
I realized I'm probably not the only one to think of this, and I was right! A quote from @aggroed's #stopthepowerdown:
Your choice to powerdown is literally enhancing their need to leave immediately or fork you out immediately.
Yep, @ned you are playing yourself. Every week that ticks by you actually make the scenario you are trying to avoid more likely. Oh, sweet irony.
#stopthepowerdown
What would happen if you stopped the powerdown? Don't you see how good that would be for the platform? It would be so good that all the conspiracy theorists here would accuse you of having staged it all on purpose. The value of Steem is already going up in the wake of Hivemind being released. Stopping the powerdown could be the boost we need to get back into the rank #30s.
Compromise
@ned, tomorrow 2.6M coins are going to be powered down. That's enough stake to create 5 whales. Cancel the power down immediately after. This is fair. This will make a lot of people happy and increase their confidence in these times of hazard.
I wish he would continue the power down so that the Steem will be better distributed. 😑
We don't need no oligarchs in here.
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He has to power down AND sell those STEEM.
@ned doesn't vote much, so it really doesn't effect the vote distribution.
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Hi @trincowski, @builderofcastles
Indeed selling is also way of distribution. The only way that make any sense. The problem is that this amount is just way to much to sell with current market condition without spreading panic :/
Cheers
Piotr
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I agree. Just the fact that the witness pool can implement a fork causing someone (anyone) to loose their stake is Communistic! This just proves that this entire platform is NOT de-centralized. I won't say I didn't see this coming, because I did. I powered down 90% of my stake months ago. If the guy wants out, it's his money. Geez... stop the crying!
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That can happen in the majority of blockchains. That's why there's always a group of people and not just one making these decisions.
In case you don't remember, ETH did a fork that removed the stake from some accounts, not very long ago. After that, it went all the way up to 1500€ :-P
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Yes, but if all act in unison against one or a targeted group of individuals, then it becomes an ogiliarchy.
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Given how the steem price reacts, maybe steemit & ned should power down.... more....lol
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Hi @conceptskip
It did surprise me a lot seeing price of STEEM growing while Steemit is powering down :)
I wonder where the demand came from
Yours
Piotr
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Good questions, heard rumours but nothing really convincing....
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Dear @conceptskip
Please share those rumours with me : ) I love gossips and rumours hahaha
Yours
piotr
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Something like they are preparing the market to then dump their coins once unstaking complete...
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I hope this is sarcastic. The best thing for this platform would be for stinc to leave. Let them exit the market, it is never about getting in the top 30's, if it's invaluable, like a lot of people think, then it should prove so. There might not be demand and after the speculators leave it might be worth fractions of a cent, cheap steem, no stinc.
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The problem is that stinc isn't going to exit the market. They are instead going to tumble and mix their stake across thousands of anonymous accounts. How are they going to keep those accounts a secret? It's going to be pretty obvious if they aren't voting. 34M more coins are about to start leeching the reward pool.
Or maybe they'll leave the coins on the exchanges? So maybe a hacker gets a few million steem here or there. Would that be better? Woof.
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We won't know until it happens will we, and if it does, how much cleaner and quicker the fork.
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Maybe I just want him to stop the powerdown so we can fork his stake away. lol
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Dear @baah
I fully agree with @edicted that it's hardly likely that they would exit the market.
hehehe :)
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More than a year ago I pointed out that the ninja stakes are essentially golden parachutes.
This remains true. If Goldman Sachs has taken an interest in Steem, @ned could set himself free of the burden of his responsibilities, and turn the blockchain over to the proverbial vampire squid of finance, while becoming quite wealthy in the process.
If he does not do this, if he remains in possession of his stake, will that quiet the vicious attacks ongoing against him, and Stinc?
No, it will not.
Doesn't mean it shouldn't though.
Thanks!
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Great comment @valued-customer
You've a good point here. Unfortunatelly.
Yours
Piotr
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What i worry about happening, (pulls out tin foil hat) is that the STEEM never reaches the open market, that it is bought up by "somebody".
And then, next week, there are several new dolphin accounts running around spouting MSmockingbirdM propaganda and down-voting any who disagree.
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Indeed, this is a threat to all projects. What happens when extremely rich and untrustworthy people co-opt the blockchain? Consensus is a constant process of figuring out who we can trust. I have faith that our ability to come to consensus will evolve much faster than the sharks that mean to corrupt this space.
Nothing stops us from breaking off a sub-community and starting a new/forked chain. This is all part of the process.
Obviously it would be much more ideal if we didn't have to fragment, but sometimes that's the price that needs to be paid.
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Great and disturbing topic @edicted
It does sounds like enormous amount of liquid STEEM. No way Steemit Inc would find a way to sell it all without absolutely destroying their own project.
But surely it's a wise idea to sell some of it. Not only they need to cover some expenses but also ... won't we be happy at the end of the day is STEEM will be in hands of other investors? We all seem to be not happy that steemit has such a large amount of STEEM, so perhaps selling it slowly and steadily would change that state and is right thing to do in long run?
you're right buddy. @Ned should not pursue with another power down if his intentions are to calm down situation.
Yours
Piotr
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Hm, I just happen to be listening to a podcast on the Cuban missile crisis as I read this. What will he do, I wonder.
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SALUDOS DESDE VENEZUELA
SALUTATIONS DU VENEZUELA
Greetings from Venezuela
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