RE: Steem? Tron? Ston? Treem?- confusions and questions

You are viewing a single comment's thread from:

RE: Steem? Tron? Ston? Treem?- confusions and questions

View the full context

valued-customer in LeoFinance • 4 years ago

"The thing is, Steem doesn't need to fork to keep going at all, it just has to keep going as it is and as long as witnesses keep the chain running, it runs."

Maybe. @steemit stake is substantial enough to control the witnesses, and if Tron has acquired @steemit's stake, which it appears it has, then Tron can replace extant witnesses with ones that support whatever Tron wants to do to the code.

In that event, for Steem to continue to operate as it heretofore has without changes to code Tron may seek, Steem will need to fork out @steemit stake, essentially becoming a new platform and token to enable legacy operations.

Thanks!

4 years ago in LeoFinance by valued-customer

0.00 BPC

5 votes

Sort:

Trending

[-]

tarazkp 4 years ago

Not necessarily if stake decided to pile on some witnesses. There is 210 million staked Steem, and the 70mil is not enough. Though organizing that fast wouldn't likely happen as community or not, organization isn't great here :)

0.00 BPC

1 vote

[-]

carlgnash 4 years ago

there isn't a snowballs chance in hell that enough vested SP could be organized (let alone which witnesses to support to be agreed on) to counteract it if Tron decided to use their stake to elect 30 puppet block producers. And once Tron did that, they could fork out all the other large steem holders if they wanted to. not saying that makes sense for them to do it, but everyone who is saying that Tron didn't buy Steem, and that the blockchain can't be bought/sold... that is wishful thinking IMO. Just because Steemit, Inc. didn't use their stake didn't mean that this wasn't a centralized project, and now that Tron owns that stake (and has already proven to act as a centralized entity), I just don't see how you can say that Tron didn't buy Steem the blockchain. They just did. They bought it.

0.00 BPC

[-]

midlet 4 years ago

This, unfortunately.

0.00 BPC

1 vote

[-]

tarazkp 4 years ago

Yep, so, Steem will just get copied into something with a more marketable name perhaps :)

0.00 BPC

[-]

carlgnash 4 years ago

for the people who just want a social media network that they can blog on and earn crypto, Tron is actually probably a much better solution than Stinc. Tron has marketing and hype down, they are very good at that. That is what Steem and Stinc have never had really. The big losers are people who really cared about decentralization and censorship, and I don't know that for most people on the platform that honestly matters all that much. Of course the worrying thing is the "airdrop of new Steem token for existing Tron users" because it is hard to imagine that is going to lead to anything but a massive dump of the new steem token and loss of value.

0.00 BPC

2 votes

[-]

valued-customer 4 years ago

"...decentralization and censorship..."

That's bread and butter to me. I hope that I am not alone, or even in a small minority in that regard, given our present straits.

"...airdrop of new Steem token for existing Tron users..."

In terms of decentralization and censorship resistance, I see that as one of the most hopeful possible benefits this sale could bring. An airdrop of 70M Steem eliminates that massive concentration of stake that threatens to centralize control of the witnesses.

That's the thing that gives me the most hope this won't just turn Steem into an ordinary highly content constrained Fakebook clone.

0.00 BPC

1 vote

[-]

tarazkp 4 years ago

I hope they are ready to take a hit in their price. How much of their token would they give to Steem users? :D

0.00 BPC

[-]

valued-customer 4 years ago

I have estimated that 20% of the necessary stake is usually all that is required to elevate a witness to the top 20 in normal circumstances, because others will vote for them too. A third of extant stake can't simply overwhelm all opposition, but, as you point out, opposition won't be all there is.

Thanks!

0.00 BPC

[-]

tarazkp 4 years ago

In my latest post there is a link to an old post about reducing witness votes to 7, a change for just such an occasion.

0.00 BPC

[-]

valued-customer 4 years ago

Socks.

0.00 BPC

[-]

tarazkp 4 years ago

It is still stake based, so even with sock accounts it doesn't matter. It would if it was one vote an account though

0.00 BPC

[-]

valued-customer 4 years ago

Each sock would have the 7 votes, bypassing the restriction by employing the socks to split the VP amongst them.

0.00 BPC

[-]

tarazkp 4 years ago

Yes, but splitting the stake doesn't generate more stake, it dilutes the vote of each. Even with a massive stake like Steemit's, this would dilute it sufficiently that several of the large whales would be able to counter in some way.

0.00 BPC

1 vote

[-]

tarazkp 4 years ago

!ENGAGE 30

These might soon be the most valuable tokens on here so I am handing them out :D

0.00 BPC

1 vote

[-]

valued-customer 4 years ago

These are my first, so I very much appreciate the gesture, as well as the equity.

0.00 BPC

[-]

misterengagement 4 years ago

@valued-customer you have received 30 ENGAGE from @tarazkp!
View and trade the tokens on Steem Engine.

^{This tip bot is powered by witness untersatz!}

0.00 BPC