Why Dlive's Scam And Run Could Be The Best Thing That Happened To STEEMsteemCreated with Sketch.

in #busy3 years ago (edited)

I phrase what dlive did as a scam because that is what it was. Essentially it was a complete heist which few were aware of. The only thing I am sad about is that it seemed the application itself had some useful features.

It is now coming out that when dlive received the delegation from @ned, they already had $20M in the bank. This was from an ICO done earlier in the year. Also, the relationship between Lino and dlive is not as distant as it appears. We are seeing that many of the same people were involved in both.

Some are now upset that not only did dlive get a delegation but also had STEEM programmers helping with the application. This was done while knowing their intention to move from STEEM to Lino.

Looking at their account shows they are powering down 70K SP. This is a healthy chunk, much of it as a result of the SP delegated by @ned and Steemit.

Overall, I look at this as one of the best things to happen to STEEM. It really was a wake up call for everyone. There is a tremendous opportunity here for everyone who wants to participate. However, there are nefarious characters who seek to do damage in one way or another. I wish I could say that this was an isolated case but I am sure there are others among us.

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The fact of the matter is there are a lot of very smart people on the STEEM blockchain. We see a lot of the ability come out via the development. What we have now is a bunch of very smart people who are also extremely pissed off. Personally, I think this bodes well for the future direction of STEEM.

Suddenly, if there was not motivation before, it is there now. I would imagine the innovation just kicked up a notch. People realize that this is a race and we best get moving. The success of this blockchian, in my opinion, rests, first, with the developers of the applications and, then, with those of us who market it out. Spreading the message is crucial.

STEEM is one of the best opportunities in my opinion that is offered in the crypto-economic world. However, it is not without some problems. The fact that highly intelligent people feel taken could be the incentive to move this to the next level.

We are under a week until Hard Fork 20 is taking place. This is something that is going to improve one of the main drawbacks to STEEM, the impractical sign up process. At this point, we still are in the stage where the developers are the ones making the difference. Nevertheless, those applications that implement the sign up process will immediately be able to reach outside the STEEM blockchain.

The future remains bright. One of the keys for all of us is to support those applications that have STEEM's best interest in mind. This can be difficult to decipher as evidenced by the actions of dlive. I do not believe too many saw coming what took place. Most of us were completely blind-sided. That said, there are many who are developing products on here that are fully committed to STEEM and creating currencies on here. This are firm believers in this ecosystem.

Overall, the basic mantra holds true for all of us. Focus upon growing our own accounts by commenting, upvoting, and posting. At the same time, support those applications that are supporting members of the community. Three that I regularly mention, @steemhunt, @actifit, and @dlike are already dropping tokens upon members who use their applications. These are send to a STEEM named wallet although the tokens are just in a database on their server at the moment. All three mentioned the SMT protocol with @steemhunt even announcing a date of release.

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Hopefully, everyone is a little wiser today than we were yesterday. The evidence was there what was taking place but few were looking. I presume we, collectively, will not make this mistake again. Nevertheless, there is no point in living in fear. STEEM can weather a storm like this without missing a beat. That is something we all should be excited about.

There are still a ton of opportunities to grow this. Now, other applications have the chance to shine. We are a growing community and a successful Hard Fork will only enhance this.

We still have so much to be grateful for on the STEEM blockchain.


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The discovery of a bug is an opportunity to build a more robust process.

Wow that's crazy. The ppl working in crypto are definitely of lower quality. Incompetent or malicious.

Sad to hear dlive moving away but they weren't super successful on Steem anyways

I hope that the community takes an opportunity to ask @ned to give another worthy project a similar delegation to develop itself and engage the community for future growth. There are many with great ideas that can be leverage to the benefit of all of us that remain committed to the Steem ecosystem!

Yes or spread it across a few different projects.

You are right there are plenty of applications/projects worthy of delegation. They are all going to help take this to great heights.

I honestly feel the better for it personally, because I see now that I was too trusting. I should have known there was a reason dlive videos played so much more quickly than dtube ones. They weren't using a blockchain!

I never even questioned how they were able to do that. And then of course, STEEM goes down but dlive is still up! So many warning signs (though that one came rather recently).

I think we will all be more careful not to believe everything people say about themselves going forward. Just because it starts with a "d" doesn't mean it's decentralized, for one!

I never even questioned how they were able to do that. And then of course, STEEM goes down but dlive is still up!

I didn't know about this until today. I am surprised this wasn't a massive thing a few days ago....

I think you meant dlike with the airdrops and not dlive :-)

Corrected. Thanks a lot for the correction.

nice article

@taskmaster4450

supporting members of the community. Three that I regularly mention, @steemhunt, @actifit, and @dlive are already dropping tokens upon members who use their applications.

I believe you meant @dlike

Corrected. Thanks for the heads up.

Yeah it sucks that seriously that much money was dumpped into something that proved to have no value other then sucking money out of our community. I am sure more of this will happen though and I believe more that people should decide where to delegate that money not a few large accounts we all pay for it then.

It is the risk involved in the far west of crypto. I am happy to have stopped produced content on DLive!

Yeah the early days mean there is going to be some shenanigans taking place.

But I would rather be here than not.

What do you mean by shenanigans?

@taskmaster4450, you wrote, "It is now coming out that when dlive received the delegation from @ned, they already had $20M in the bank."

Where's this info coming from? Is it transaction data or other source? I found that DLive setup last October and is just coming up to the 1 year anniversary and wa7 set up an account until Dec 2017.

Is it not possible that the 'experimental' run on the Steem blockchain was arranged between Steemit Inc. and DLive? I'm sure you saw the Leno post including the 'experimental' blockchain test run statement published in Mar 2018. If you were a thief, would you be so bold as to publish your crime 6 months in advance of your escape?

Maybe Steemit Inc needs to publish an official statement clarifying whether they were in full knowledge of DLive's one year experiment on the Steemit blockchain.

I like what you have said here. I think a silver lining of the D live thing is that it gives many of us an opportunity to look at what has gone on within the blockchain when we previously had no idea. I liked it but I will now give @vimm a try

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The few comments that I saw by people who tried it seem positive.

Let us know what you find.

It was pretty cool. I got 49 upvotes in my first livestream.

I'm very green. I set it up and streamed my video but it didn't show up anywhere lol

Thanks for writing this @taskmaster4450. Pretty new "in here" and came across this post after seeing reference to Dlike leaving ... Obvious question was ... Why?

In shedding light on the answer, you state this:

"Looking at their account shows they are powering down 70K SP. This is a healthy chunk, much of it as a result of the SP delegated by @ned and Steemit."

What?? Up until reading this, it has been my understanding any one of us choosing to delegate to another "in here" retains ultimate control over that SP. When first learning of this concept, I was impressed with what it represented - helping others out, but still giving the option of "pulling back," should some future event indicate we'd made a mistake ...

This statement suggests otherwise ... Specifically implying Dlike "made off" with some of Ned's SP?! Yes, I do understand it takes weeks to "power down," but my point is I did not think that was possible. Since technically it's not "your" SP, but someone else's ...

Please help out a relative "newbie" as it definitely appears I have a "learning opportunity." Confirm this is so, or enlighten me on what I am misunderstanding. I am assuming someone with a 70 "rep" will definitely know ...

Thank you!

Great article. I wanna translate it to Korean and post in Kr community. Would it be Ok?

I am already looking into @vimm, it is very different and I love it! Each application is its own thing, own ecosystem, vimm does not replace dlive but it does do livestreaming much better.

More and more d.apps will continue to be developed. The power of steem is compelling!

There is a lot of opportunity here and I am hoping that some of the Devs will offer up something that improves upon what they offered the community. Also, if anyone has any alts that they don't want that will migrate across, you might want to upload some choice content to help them populate their platform.

Thanks. That really changed the message didnt it.

Corrected.

Good point, I agree. It seems to have lit a fire.

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