#14 - Steem Soft Fork | A Testament of Decentralization or a Dangerous Precedence?

in SteemLeo8 months ago

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#14 - Steem Soft Fork | A Testament of Decentralization or a Dangerous Precedence?.png

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At 5pm Eastern time, soft fork 0.22.2 was announced by the Steem Blockchain witnesses. This soft fork was discussed and implemented by the witnesses after hearing a myriad of concerns regarding the Steemit, Inc. acquisition by Justin Sun and the subsequent press releases which gave contradictory messages about Justin’s plans for Steemit and his large newly acquired stake in the Steem blockchain.

Steem is not Steemit.

This message rings truer now more than ever before. There are 2 major sides to this argument:

  1. Did the Steem community and witnesses just prove how decentralized Steem is and how a decentralized community should operate?
  2. Or did we just set a dangerous precedent regarding DPoS and blockchain-based assets?

In this episode:

  1. Steem is never lacking in the drama department
  2. We faced an existential threat to the chain and our community warranted a response of some type to defend our home based on Tron announcements
  3. Tron marketing teams and their PR is either intentionally misleading or horribly misinformed
  4. A decentralized proof of Steem's governance model
  5. Temporary fix until proper discussions are had between Steem and Justin Sun… what does this soft fork actually do?
  6. Community is divided on whether this was a good move or not — dangerous precedence or logical downside mitigation?
  7. Witness statements and reasoning for why they support or don’t support this soft fork
  8. Justin’s quick and cordial response — a good first step, but also his only real option. We’ll know more on the 6th of March when there is an open dialogue

Links Mentioned:

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Never a dull moment, to be sure.

On the surface, the action taken makes plenty of sense:

  1. The Ninja Mined stake has always been a question mark
  2. Justin Sun allegedly recently used stake to to engage in shady witness voting on the TRON network
  3. Ned possibly sold Steemit, Inc. to Justin without full disclosure
  4. Justin now holds enough stake to "centralize" Steem/Steemit

That's simple enough.

What it might mean down the road is, of course, not nearly as clear. If Justin, indeed, is a bit of a loose cannon... nothing stopping him from simply "holding" the stake and saying "So you want to be decentralized, huh? Go ahead and have fun, without Tron's resources or marketing... you're on your own, have a nice day!"

Why would he do that? We just made his stake more or less worthless. In HIS eyes, perhaps not in OURS. Which leaves it up to us to either try to go it alone... OR slowly become another WEKU... which leaves the question of whether or not the witnesses who voted to lock up the Ninja mined stake ALSO have the cohesion and drive to create "the community everyone hoped for" without significant resources or compensation?


Posted via Steemleo

Ned lie to the community? You don't say?

This goes back many years as you pointed out in the video.

Posted via Steemleo

Yeah, as if we all should be surprised by Ned doing something like this.. I wish the witness in the past made better decisions and followed-through on the decline voting rights for Steemit stake. That would have changed everything that has happened in the past few weeks. Now, we’re cleaning up their mess

Posted via Steemleo

Hmm, it's funny that he has refused to make a steemit official statement about his sale of steemit Inc. Sad!

Posted via Steemleo

....this is beyond a bad decision.
Who's next if the authoritarian 20 don't agree with something another does with their stake?
3 speak?

A bad decision made by scared/panicked people.

The criteria for this freeze is that it is on Steemit’s ninja-mined stake which was promised by Ned to be used for decentralization and community growth and specifically NOT to vote witnesses. Ned has done the complete opposite of that verbal agreement.

I don’t see this ever happening again because of the uniqueness of this situation

Posted via Steemleo

I wonder how legally backed a verbal agreement is? I would wager not at all.

In my opinion, those ninja mine stake shall be remove off the blockchain and let's help Mr. Sun to file a criminal case against the Conman Scott who steal something from steem community and to Mr. Sun. But we are not against with the selling of domain name steemit.com.

Haha that would be one approach. I don’t see anything wrong with the stake itself being held by Justin and used to build Steem for the better. The issue is that Ned sold Justin the stake under false pretenses

Posted via Steemleo

Is there no way that Ned can e called to order on this?

Posted via Steemleo

Interesting take on the situation

The drama that unfold here is part of the fun that keep us going. I do not know why many people are really taking the Softfork too far. The reason was stated and it's temporal. Thanks for the clarifications.

Posted via Steemleo

Simple enough but valid. I think what they have done makes sense. At the current state we want to have clear minds and by implementing the soft fork we as the community can win some time to get things clear.

Posted via Steemleo

Surely, that has really calmed the nerves of many and one is certain his investment doesn't get sweeped off overnight.

Posted via Steemleo

If it was swept away then it would just create a big question towards our community. One of those would most likely be related to the integrity and validity.

Posted via Steemleo

That's true. Everything will turn out just fine. All we need is time.

Posted via Steemleo

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