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RE: The Steemit stake

in OCDlast year

I think we are all guilty of trusting Ned to do the right thing especially in the blockchain world where the whole point is to have a trustless society.
In ways I am glad that this is finally coming to a head and that rules get written so we can move on to a brighter future without this specter hanging over us.


I'd completely agree with you, except for the part about rules being written.

Who's gonna write them? The people battling Sun for control of the blockchain now? I recommend you read my exchanges with @justineh ( and @lukestokes ( regarding this weighting of the witness votes of User A with 1M Steem, and User B with 100 Steem:

" The difference between their hodlings is 999,900 Steem. The difference in the weight of their influence on governance however is 29,997,000 Steem."

Despite that this weighting scheme breaks DPoS by causing Tron's estimated ~100M Steem stake to bear 3B Steem influence on governance, and making it very easy for him to seize complete control of the Steem blockchain (which is why the witnesses ran 22.2 to prevent Tron voting on governance), the extant large stakeholders and consensus witnesses do not want to address this centralizing mechanism.

Don't believe what I say they say. Read what they say and decide for yourself why they say it.

I now understand that the present struggle for control of Steem is between an oligarchy that was permitted by @ned to profit from extraordinary magnification of stake weight on governance, and Justin Sun who wants that power for himself and has undertaken to seize it as @ned never did.

The only solution I see to this dilemma is to fork them all as hard as we can. I don't like any of them, and I just want to fork them. All of them.


Edit: Ya'll can search my comment section as well as I can, but I did it for you to save time and spread this information as widely as possible.

Thank you for your reply. The biggest flaw I can see in Steem and DPOS is the way proof of stake is given. This will always allow the ones with money to seize power. Unfortunately these are the rules written at the beginning of the blockchain and I don't think at this point we can change those rules.
As a social media Blockchain I don't think being able to buy friends and influence is very social. We will be crashing in the same car again and again.
I can see a Hardfork as the only way out and with that a new proof of stake that takes into account social standing. How that would be programmed and by who I don't know.
Having everyone start on a blank slate and prove themselves to those around them may be the only way.
All this is not to say I don't still believe in what Steem has to offer. I have seen great changes happening these last few years and the present situation shows me that there are enough good people around to help push it in the right direction.


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