It Is A Great Time To Be Involved With Steem: Post AMA Video

in Threespeaklast year (edited)

▶️ Watch on 3Speak

The AMA with Justin and Ned told us very little. The 4 word recap is nothing changes....for now.

One of two things is going to happen: Tron develops a token for Steemit and tries to get people to use it while leaving original Steem alone or he tries to use his stake to crush Steem and move all to Tron. The later would result in a fork meaning people's stake would remain the same.

Full thoughts about where we are and the near future in video.

▶️ 3Speak


$24 in 7 minutes 😮😮😮
this african minnow needs that too
"Lord whatever @taskmaster4450 said... Amen!"

Jokes aside.

Don't steemians realize its the high time they converted their steem into BTC?

Who are the witnesses at dapp developers who have stated that they are not moving to tron? I want to make sure I am voting for them.

Posted via

I am not sure that many have come out yet and said they will not support Tron under any circumstances.

However listening to the call, there seemed to be most of the top 20 who are on there who are leaning towards Steem.

I suggest you listen to the recording when Aggroed posts it.

Posted via Steemleo

I'm sure many got more out of your vblog then the announcement itself. - thanks for your thoughts. Still kinda '?' myself

There are still questions with this. However, we have the ability to start doing things to fend stuff like this off.

Posted via Steemleo

If Sun even tries to buy a few million Steem off the exchanges the price will go x10 or higher. That would be quite the #hodl movement.

Posted via Steemleo

Hope he buys it up 10X so i can sell mine to him too like NED did! lol In all reality, the stuff is unlimited, he has stake and can now earn some, why would he buy any more?? Most likely he will start dumping once it reaches his desired price target!!! OMG!!!!! Someone started dumping today, trying to blame it on BTC, so they just dumped everything at once, the whole kitchen sink, to disguise the STEEM dumps!! lol Maybe if STEEM would have been the only thing up today things would be different.

That is a good point. It will be interesting to see how this all unfolds.

Posted via Steemleo

So one of the concerns is that he could suddenly use his stake to vote in his witnesses, thus making it impossible for current ones to react and continue on the main chain. A hostile takeover so to speak. So why not implement a system where there's a timed delay for your witness votes. That could be a solution right?

I advocate for making witness voting 1 SP = 1 vote. Not 1 SP = 30 votes. Right now 20 million SP could vote 20 million weight on all the top 20 witnesses. That should be made so that the more witnesses you vote for your stake spreads among them, IE: 20 million SP voting on 20 witnesses equals 1 million votes to each witness.

This makes witness voting much more decentralized and democratic rather than making SP 30 times more powerful in governance. It also makes it virtually impossible for one big power player to control all the witness spots needed to approve hard forks. Even if STINC starts voting on witnesses, under a 1=1 system the community could still rally behind several of their own choices for representation.

I believe there should be 10 votes for each individual.

This means that no one account or group of account could automatically take control.

Since there are 21, there would need outside help.

Posted via Steemleo

Should be more like 3-5 votes per account.

That would decentralize it even more. I wouldn't be opposed to 5 either.

Posted via Steemleo

I thought about that but since there is such an easy work around (just split your stake over multiple accounts) it doesn’t seem like a change would help all that much.

Funny, at first I didn’t think that was at all “Sybil resistant”... but I had to think about it to realize it accomplishes much the same. I’d agree on less than 10 votes though. Splitting a massive 50%~ish stake of the chain across two accounts would still be very powerful to overcome at 10 votes per account. 5 - 8 at most would be preferable.

Nobody can crush steem it's not an easy task if tron going to get states in steem blockchain there are hundreds of users already have states in steem and steemit think about them think about top 20 witnesses what they can do if they want to do something together

Steem has users .... but what Justin should realize is this core group of users have been through two bear market so we have loyalty and are unlikely to leave. Bring his developers here and let’s do this over here.

Yeah I agree, if he brings the developers here i would stay! But trying to get me to go there just is not going to happen!

We are a loyal bunch, that is for sure.

Posted via Steemleo

Please read my latest post. If he has access to Neds STEEM and all of STINCs accounts, he can overthrow the witnesses. Not even accounting for his stake that he had before buying STINC.

Sorry @ew-and-patterns. Your logic is flawed.

There is presently 210 million Steem powered up. According to your post, you are looking at about 71 million in Steem...thus he was need more than 105 million to vote in all he wanted undisturbed.

The reason why that total exceeds even Matts, is because the votes are spread out over 100 plus witnesses (plus people not voting). However, a consolidated effort for everyone to vote their stake for, say 10 witnesses, would interrupt his path to total control.

It is not easy but it can be done, especially if it is under threat.

Posted via Steemleo

I think that is not correct...

Each vote for a witness adds the amount of MVESTS the "voting account" has to that witness. If that would not be the case, stake based voting would be a joke here on steem.
The thing is, that steemits' stake has not voted for any witnesses yet. So if all three accounts vote for the same person, that gives any account with an active witness +118225 MVESTS.
So he can give his 30 witness votes to random accounts and they will all have
+118225 MVESTS.

I added up all top 50 witnesses and it amounts to 2990000 MVESTS
We have 210M STEEM powered up of which at least 90M STEEM have not voted for witnesses. That leaves approx. 120M STEEM.
Do you really think 120M STEEM could distribute +3000000 MVESTS if my logic was incorrect?

Your MVESTS are not split up across all witnesses you voted for, every witness gets the full amount.

I did not mean that the votes were at anything less than 100%. I meant that we are spreading out votes over 125 or 150 witnesses.

What you say is a mathematical possibility.

There are 210 M SP which equates to MVests.

Here are your numbers from your post:

steemit 29M Steem = 57238 MVESTS
steem 11.6M Steem = 22895 MVESTS
misterdelegation 19.3M Steem = 38092 MVESTS

That is 49.9 Million SP or 23.76% which means 76.24 is in the hands of the community. Thus, if 24% of the community voted for Yabapmatt, as an example, that would put Matt in no matter what Justin did.

Steemit, Inc, did not have 50.1% of all the SP out there which is what is required to have an unhindered full majority and do whatever he wants.

Posted via Steemleo

Once communities and SMTs are released the cat is out of the bag and I do not feel like we will need Steemit Inc anymore. These two features will be the necessary programs to replace them.

That is true although there will still be more that is needed on the blockchain and they control the github account.

It is possible we get some other C++ coders to step up.

Posted via Steemleo

Yup, that's a good idea, post and get paid with steem and tron tokens among others.

i listen to the live stream again as i was cutting it, and he said he did invest because of the community, and he said he wants to talk with all the developers. does he want to move it all to tron through the method you mentioned, could be, we don't know. he said several times that he wants to hear the community, is it a marketing stunt, again i don't know.

I believed Justin Sun will not stab his investments on the back but rather listen to the STEEM community before jumping to any decision-making matters.

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i agree with everything said inside the video....