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RE: All the transactions, zero censorship
So the witnesses, do not work for steemit, but for STEEM? This is the part that has confused me since being on steemit, the witness issue and who is deciding what gets added and becomes part of the forks. The blockchain belongs to STEEM, the interface I use belongs to Steemit.
If the witnesses do belong to steemit, does that mean that busy.org can have their own witness system, and if they do not like something in an upcoming fork that they can just branch off and become a 100% independent of steemit, and still have access to the STEEM reward pool?
Yes they work for Steem, not Steemit Inc. Anyone can be a witness as essentially, all a witness is is a server that processes the chain. They are tasked by the community to look after the chain / process it. They are the ones who must agree to changes that are put forward.
Yes. So if Steemit Inc disappeared, the blockchain still continues unabated. New nodes can be set up, changes made etc without Steemit Inc.
They don't.
No, they can fork/clone the Steem blockchain but won't have access to the Steem pool. They would have created their own pool from doing so though and then they can apply whatever rules they want - like smoke.io, whaleshares, weku. The issue with doing this is that in order for their new token to have value, it must be used and marketed in the same way Steem has done which means getting listed on exchanges which often comes with a hefty price tag from what I hear.
The pool is the Steem pool and if an interface connects to it, it is governed by the rules of the Steem blockchain always.
Finally, I think I am getting it. It does not matter what steemit wants for the blockchain, it is what STEEM wants for the blockchain. For Steemit to succeed, it needs STEEM to succeed.
Steemit can become a complete wasteland, @ned could sell/lose or closeup steemit when ever he wants, and the blockchain and the witnesses will still continue.
Pretty much.
Yep. They hold a lot of Steem so it would have an effect on price for a while if they dumped it all but, it would recover eventually. I don't think they are going to do this.