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RE: Town Hall Meeting With Justin Sun: Why the Top 20 Witnesses Should Be Cautious
you can't have a palace coup unless the person being ousted actually has ownership. Sun owns Steemit Inc and Steemit.com ... he doesn't own Steem which is why the witnesses moved to protect the chain until such time as they have some level of confidence in Justin's intentions. We, the community own the blockchain and that needs to be clearly understood.
Of course, Sun does not own Steem but you'll agree that he owns Steemit and a stake of 70million whether we call it Naija-mined or not. Right? Imagine what happens if those 70m steem hit the exchanges. If the witness insists on freezing all his stake, putting his entire investment at risk, then there will be dire consequences. That's the summary of this post. Thanks for stopping by.
It can have consequences on the price that is true. However, once he gets it through his head that he doesn't own Steem he will realize that in order to get a return on that investment, he will need to work for the good of the chain. The temporary freeze provided time for all parties to actually communicate which is something he had not been responding to attempts to establish.
Great points. Certainly, Justin now has a major stake, but he's not the owner of "Steem" or the blockchain, nor can he ever have control of the decentralized blockchain. We can rest assured that most things will work themselves out as Steemit moves forward.
it's really hard to tell if Justin didn't pay attention to what he was getting or was mislead on how much control he could have. This pause should provide the time needed to fix the problem. It's the first time that those charged with protecting a blockchain have actually taken action to do so. Not surprising that it's creating shock for some.