As clear as mud
Over the last few days there has been much said about the power down with Steemit Inc.I didn't know what Ninja mining was so now I know.I thought it was someone who was very good at mining but that wasn't the case obviously.
What would make Steemit to act in this way by powering down 34 million Steem? I read about the proposed hardfork and some of the reasons behind it. I am not for it and can't back something that is morally wrong. Two wrongs don't make a right and the reason for zeroing these accounts for the communities sake also raises some concerns.
Which community are you referring to when this is said? Who is going to benefit the most from these actions? I would expect some government official who was knee deep in corruption to come up with a scheme like this. I am glad certain individuals have come out saying it is wrong and maybe another solution could be found.
I think it is all positive if Steemit sell off their Steem. It is taking Steem from the largest stake holder and allowing others to invest and buy in. Spreading the wealth into more hands is surely the best way forward. It is a shed load of Steem, but only around $10 Million 's worth. I am sure it will go quickly and we may feel the impact for a short while with the Steem price taking a dip.
We all want the best for this place and sometimes we also need to have a clear mind and our eyes open.
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Can you please explain what ninja mining is? I have seen this term come up a few times recently and I have no idea what it means !
It means that only a select few were aware how to mine for steem at its inception, so like a ninja they came in and got the goods before anybody really knew what was going on. Nothing inherently shady, just they were in the right place at the right time to ensure their supremacy here.
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I am not a big fan of the idea of 34 mill extra steem finding its way into the market because it would devastate the price. Might be good in the long term but it works be a hard one to recover from.
And also... Sshh.. Steemit would still most likely be the largest stakeholder... ;0)
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