RE: My thoughts on Soft Fork v0.22.2

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RE: My thoughts on Soft Fork v0.22.2

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marki99 in Threespeak - OLD • 6 years ago

First time I disagree with you. Yes, there are great reasons to do this, and I get your point for voting rights.

I even think that we should remove voting rights from the accounts that belong to exchanges.

The problem is not about voting rights, but about not allowing Justin to powerdown/sell his stake. It's just flat wrong. He bought it, and it's an investment. The whole point is to make a profit.

Saying the stake should be used for Steem's development is the most naïve thing ever. Even if it was a promise with Ned, the promise was broken when he sold the stake.

The way I see it is that Justin will spend his own money to improve Steem to get a good ROI on his stake, not use the stake to improve Steem for no benefit at all.

Now Justin owns it and he 100% should be able to powerdown. Even if it fucks up the plan for the negotiation, so be it, we fork.

6 years ago in Threespeak - OLD by marki99

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theycallmedan 6 years ago

If he is able to powerdown, he able to move the stake to a new account and vote. The stake was promised it would not vote based on the founders. That is fraud and I don't see why we need to let fraud have a chance at destroying the chain.

If I created a coin, premined most of it into existence for myself, then let others start to mine it. To help the price one could have made all these promises what that the token wouldnt be used to vote or destory the system. People invest based on that word. If I was then to go back on my word that would be fraud with the possibility of jail time.

This is very black and white. The founders stick to their promise or they are frauds. They didn't stick to it, so here we are.

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marki99 6 years ago

But if he powers down all of it, at least we'll have a heads up. We'll have time to talk with him or make the appropriate fork.

However, if you freeze his stake, then you just stole his money. It's his investment (Justin, not Ned).

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theycallmedan 6 years ago

Once he powers down there is not talking, we have no power than to stop him. This is the same as buying a house with a lean on it, I would know, I did so once and it rekt my life temporarily. Just because you buy something does not exhaust the purchase of former obligations.

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marki99 6 years ago

But Dan, we don't have leverage.

Even with this soft fork, he ultimately decides what happens. He can just say no if he wants to. Then we'll hard fork and there will be two coins.

Who do you think cares more about keeping one chain, him or us? I'd say us, and that's why the only solution was to negotiate with him in good faith.

There might be a sweet spot where we can use this soft fork in negotiations, but if he gets tired of the demands then it's the worst case scenario for us anyway.

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blocktrades 6 years ago (edited)

I for one, totally disagree with you on where the leverage lies. The community literally has the leverage here, as far as support of the Steem chain goes.

The apparent reason he purchased Steemit was to bring that community to Tron. If he forks and creates another chain without the Steem community supporting it, then there was never a reason to buy Steemit anyways: he could have just forked the chain and have it supported by Tron people.

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roundbeargames 6 years ago

sorry for barging in but do you think the community has enough leverage to push further development of SMTs? or to launch it before justin forcefully tries to "migrate" everything to some unknown token? what do you see happening down the road now that justin has "lost face" and might as well be looking for a way to backstab the witnesses when he sees the chance?

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lordbutterfly 6 years ago

He has no power now. He cant vote in witnesses and he cant token swap. If he had control over the top 20 witnesses then he might have been able to dismantle Steem (which was his original idea), retain exchanges and move Steem to Tron.

Now he cant do nothing.

My only fear is that witnesses let up and trust him on his word.

We need to remember that ITS HIS PROBLEM that he bought tainted stake, not ours.
He should have done his research..

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marki99 6 years ago

Okay. I hope you're right.

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marki99 6 years ago

Well done witnesses.

Why I was right and you were wrong I'll never understand.

Apparently he bought Steemit, Inc just to pump another shitcoin. Not to acquire the 5000+ community of Steem.

What a surprise.

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blocktrades 6 years ago

It's endlessly fascinating to me the levels of self deception that people such as yourself are capable of. Or do you just not know how to read English well? Witnesses were warning all along that Tron's interest was Tron and not Steem.

And if the plan was to just pump a random coin, this was about the dumbest way anyone could ever do it: picking a coin where an engaged community will openly oppose manipulation attempts. There's much easier prey out there.

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marki99 6 years ago

Of course his interest was Tron.

I was saying I was right about the leverage, how is this self deception? It all ended up in a shitstorm where no one wins.

It was just a dumb move risking everything and it did not payoff.

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debajo 6 years ago

I couldn't agree more, seeing as, he doesn't want anything else but to sell his stake, why should he be restrained.
He should have every right to decide what he does with his stake.

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