RE: Softfork 0.22.2: why I didn't apply the changes to my witness node.

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RE: Softfork 0.22.2: why I didn't apply the changes to my witness node.

dr-frankenstein in #witness-updates • 6 years ago

Don't look at the price, look at the market cap. Tron is at 1,1 Billion "USD" now. Steem is only 63 million "USD" which is like nothing compared to Tron. (https://coinmarketcap.com/)

I believe things were not 100/100 clear concerning the swap. I agree with the OP on the idea that no one should have the right to nullify your token. Imagine buying 20 million USD worth of Steem for example, then the witnesses decide to freeze your stake (token you bought) because they don't like you. The blockchain is supposed to protect people against such things, that's why we run away from banks.

The funny thing is that we were telling those same witnesses to change the voting mechanism for witnesses for ages (so no one can control the top 20 spots), but they didn't want to because they liked it when Steemit Inc was doing all the development, but now that a big investor has bought a lot of steem, they froze his stake (lazy ass solution) in fear that they might lose their places.

6 years ago in #witness-updates by dr-frankenstein

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heretickitten 6 years ago

The difference here is that banks are singular entities and the witnesses are people we vote for.

Another issue is that Justin with the SiNMS has the power to become a singular entity with the power to freeze accounts or alter the blockchain. His plan is to destroy it and reopen it on his Tron blockchain.

If witnesses aren't doing what we want, we can always have campaigns to replace them.

But we cannot easily replace Justin. He bought his way into power.

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dr-frankenstein 6 years ago

We vote for is a bit pretty, let's look at the reality and see who control such decisions.

Witness are voting on each other on top of a handful of what who are making sure that some people will stay at the top forever, without mentioning the SPS were only 2 accounts are choosing who gets what.

TOP 20 spots are like a bank that has 20 shareholders. It's the same thing. Anyone wants to stay in to get more juice and influence, so they usually "circle jerk" each another to stay at the top.

Easy, the witnesses who do not agree on the thing, they can choose to fork their way out. If it's not STINc, it can be another random investor who decided that he want more influence on the chain and want to change things according to his taste, is this wrong? No, because this is a DPOS, where only people who have the biggest stake are the ones who can make changes.

You can't get to the top 20 by posting good content and getting 30 steem each day. People get there by making hidden alliances and buying a large amount of stake.

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heretickitten 6 years ago

Yeah, and I don't think we disagree completely.

My only argument in this situation is that the ninja-mined Steem simply should not exist.

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wakeupkitty 6 years ago

Thanks for taking the time explaining this to me I appreciate it. I invested in Tron but didn't swap.
How come 20 witnesses have the power to frozen someone's budget?
I can't say I am happy with that. It means indeed a handful control everything and there's no freedom (I already figured that out months ago). If people are willing to invest, no matter big or small, it's up to them what to do with it but Steem is Steem and it cannot just be wiped out as if it's worthless and never existed.

If Tron is worth more how come the crypto currency is not?

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