RE: Open Letter to Ned/Steemit

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Open Letter to Ned/Steemit

in open-letter •  last year 

Hold up, stinc powering down increases regular users sp 'interest', that 15% goes farther with their gaping maw closed.
It also takes their gaping pie hole out of the reward pool, increasing the average user's take from the pool.
Them dumping on the market increases the opportunities for true beliebers to acquire stake at bargain prices, ie, more than three steem per usd.
If we could get the top 70 accounts to join with them, we could bring back the n2 and let the design work as intended.
Im having a hard time finding negatives here, Tim.

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Can you see how there being a large enough balance to potentially single-handedly change the entire list of top witnesses being under the control of a single entity but concealed from view may be a concern?

Its not like that now?
I dont see how it changes anything, in that respect, we dont know who pumpkin/freedom is, either.

It does up the chances of a hack, or lost keys, permanantly removing stake that knowingly broke proof of brain, and purposely kneecapped adoption, in favor of lining their own pockets?

It removes a degree of transparency

Any forks would need to be rolled back/occur before they can get their stake reembedded, if that is the intent.
Maybe they take what is their's and leave the community to sink or swim.
Maybe they stop hindering us to line their own pockets?
Maybe they work to maximize the coin.
Time, and the blockchain, will tell.

Also, what about this - say a few months from now someone wants to do an airdrop of tokens to all Steem token holders, but they want to exclude Steemit, Inc. from the airdrop.

I guess the exchanges would likely collect for their customers?

They could exclude any accounts they wanted to, yes?
Including exchanges.
No keys, no airdrop.

It shouldnt be too hard to spot the newly powered up accounts that all vote the same witnesses, either.

That is assuming that they keep funds on exchanges, and don’t move them to other hidden accounts on chain

34 new whales, 340 orcas, 3400 dolphins, or 34k minnows?
It shouldnt be that hard to filter for power up dates and cross check witness votes.
If stinc uses that stake collectively, most likely we can figure out who the bots are.

I do agree that it is better for ned to pull his head out and stop acting like he is some kind of superhuman, his feet stink just like everybody else.
I'd also like to see any fork to stop the damage make his stake available, at some point, but how long do we continue to put our souls into Ned's scheme to create bag holders?

Rolling back the chain to an earlier point in time can be extremely damaging to a lot of users and stakeholders.

It would be a headache, a customer service quagmire, but if folks wanted to try, who am i to stop them?

I dont think a fork is viable until the memory requirements drop one more time.
Commercial grade hardware is still required, yes?

I'm thinking that given these 'requests' to maintain Stinc's stake visibly, I'm surprised current witnesses remain witnesses.

It will certainly make it less secure to be a top witness, when the stake requisite to voting in a top witness is no longer visibly held by one account.

I reckon the threat to fork out Stinc's stake has made it impossible for a corporate officer with fiduciary duties to leave that asset in a vulnerable position. I don't think that legally @ned has any other option.

I reckon useful witnesses will turn to finding ways to actually secure the blockchain, rather than threatening to not do so if they don't get what they want, and working to improve it for the benefit of the folks that vote for them.

Make any sense?

Stinc's stake would disappear on the new fork, but still be intact on the original fork, provided they spin up enough witnesses to keep it running.
A fork robs stinc of nothing that is their's, it just moves the community forward without them.

"A fork robs stinc of nothing that is their's, it just moves the community forward without them."

I know you know better. A fork does a lot more than that. I'm not going to exhaustively list the new challenges forking will create, but am utterly confident that you are competent to do so with but a few moment's thought.

Since Stinc may have sold to Samsung already, this may be completely irrelevant anyway.

I've learned to believe things once they happen when we are talking about stinc.

Yes, forking could wreck us, it could also set us free.
I suggest a reasoned approach, the next gotchya needs to be fully ready to launch.
I still think we need one more reduction in hardware requirements before a fork is viable, but once we get that, all bets are off.

rather than threatening to not do so if they don't get what they want

I have never done this

As we are engaging on these matters elsewhere, I will defer our conversation there.


The extremely obvious difference is that Freedom is currently voting for all of the main characters in the stop the power down movement.

And is the main proponent of proof of wallet.

Interesting times,...