Seriously Considering Leaving Steemit - Reaction to Ned's Responses to Paulag

in steem •  5 months ago 

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Oh boy, I regret writing this post where I spoke about being positive about Steem's future now that I've read a certain discussion between @ned and @paulag.

Paula made an entirely reasonable request on Ned's latest livestream announcement, asking whether it would be possible to be more transparent regarding the finances of Steemit Inc.. In particular, she asked for a public list with all the accounts that Steemit Inc. owns. We have no idea how much funds Steemit Inc owns and how much they are planning to dump on exchanges.

Read the comment for yourself, I find this to be a very reasonable request that was asked in a polite manner.

Now compare that with Ned's response.

I personally do not understand the need for this level of secrecy, regarding the STEEM holdings of Steemit Inc. . We have absolutely no idea whether Steemit Inc. is capable of doing a massive exit-scam when things go further South, as remarked by @smooth.

Smooth's response to Ned's comment was one that induced a little bit of panic. He's usually someone who comes up with well-thought-out constructive criticisms and suggestions, but here he's being openly dismissive of Ned's attitude.


I have some serious thinking to do after reading this. It's true that Steem isn't Steemit and I could continue supporting projects that are not related to Steemit. On the other hand, this shows that Steemit Inc. possibly have the power to completely tank the price of Steem at their own discretion.

Feel free to correct me in the comment section if I made any errors or if any one of the persons mentioned in this post feel misrepresented. I'll correct any errors ASAP!

Btw, today is my birthday, so I will not read most of the comments until tomorrow probably.

Read the entire thread here:
https://steemit.com/steemit/@ned/next-livestream-this-thursday-dec-6th-at-11am-cst

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I am okay with @paulag asking the question and I am okay with @ned refusing to answer. Transparency, especially for a blockchain company should be a natural fit and in alignment expectations of it participants and 3rd party developers. So asking, is not rude. On the other hand, Steemit Inc is a private company and not required to disclose it's finances. So it it not unusual for companies to keep such information secret.

That said, I would prefer some level of transparency. A happy medium that helps instill ongoing confidence in this time of turmoil, while still preserving the important veil of confidentiality for the business. If @Ned wants the community to continue to rally, support Steem, and drive independent initiatives to fuel marketing, bring in new users, and write quality content (all necessary for Steemit to survive and thrive) then he should find an acceptable middle-ground.

Teamwork, requires trust and collaboration. We should be working together.

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Trust and cillaboration are for sure both needed

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(Credits to @inertia)

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The CEO of SteemIt INC, hides out in SLACK... And posts utter SHITE on SteemIt.
Figure that one out.
And then bites the hand that feeds him; which is the community who's content is keeping the Chain valuable. I for one wish he could get out altogether. He is a very poor example in this community... IMHO.

Bacon Pretty Frank.GIF

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Thanks for posting that, this does put my mind at ease just a little bit.

As I've mentioned to @eaglespirit in the comments, I might have reacted a little bit too harsh. Fact of the matter is that despite everything, Ned has still shown commitment to Steem, I should have taken that into account.

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  ·  5 months ago (edited)

His reply in a not so secret exclusive slack to insiders only and its sharing here by a known suckup fan boy are none too "helpful" really, since neither paula, nor likely smooth are members of said slack and others who are critical of ned have been recently barred from it as well, or never included in the first place. Funny how Ned is a fan of controlled environments like slack where he is the gatekeeper to entry or youtube where he can delete videos or block comments, but won't put anything serious in stone on the chain. Pay attention to that, and who always kisses his ass (but stands to lose a fortune if damages happened to the chain, such as mass dumping by steem preminers further distressing the price, such that it becomes pretty clear that someone like the owner of smartsteem would feel great pain from in his income)

Or you know, just accept all this nonsense and explain it away again folks.

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Well Said! I believe I actually show better commitment to Steem than @ned

nope.jpg

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Happy 2nd advent to you as well.

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lol, k creepy avatar guy.

Happy Birthday @daan

Thanks for the shout out and making people aware of this. Personally I am not to concerned. Ok it its smells like an exit scam to me, but look around you, there are amazing people here building stuff on the block, we don't really need steemit inc all that much, we just need to get a little more decentralized and this last few weeks has shown me so many new doors that are opening.

Crypto is bleeding hard and I don't think its over, im happy for who ever to exist that wants to, then we can create a better distribution and be more prepared for the next up wave.

Im sorry my discussion with ned was not one that's left people feeling confident in steemit inc, it kinda ruined any faith I had left in them and not the fact he said no, lol I was expecting that anyway, but the way he said it.

I don't think you should leave, I think we should push out the big boys instead ;-)

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Thanks for the reply, I'll have to keep it short since I'm just leaving for dinner.

I'm glad that you responded the way you did on that post. Someone has to ask the difficult questions and I thought the concerns were very fair. It's true that Steemit Inc. doesn't have to disclose any of that information, but it would go a long way in restoring trust.

'Quick' question, is it known how much Steem they own? I mean ballpark figures obviously.

I'd certainly stick around, just for the awesome communities here. Can't imagine never writing a Utopian post again for example. That said, I hope those communities do not suffer due to a sudden sell-off.

Happy Birthday @daan

I saw that exchange and while there was nothing wrong with @paulag asking the question ... there was nothing wrong with @ned refusing, although he could have been nicer about it.

As for them dumping their stake on the exchanges as an exit strategy, unless they have already powered down their accounts and have them sitting in liquid Steem, it's going to take them 13 weeks just like anyone else.

I noticed today that Ned had posted a statement that Steemit Inc is not in financial distress. It looks like it was posted on Slack. @whatsup included it in this post: https://steemit.com/busy/@whatsup/think-green

So, I'd suggest that you forget what Ned has to say for the most part. The Steem blockchain doesn't rise or fall on his words or the actions of Steemit Inc. It's interesting to know what they are doing, but they are not driving the ship... for better or worse.

@shadowspub
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I enjoyed that conversation and I admit it bothered me for a couple of days.

At the end of the day, I think everyone in the conversation is coming from a different perspective and it is all just data. Ned doesn't answer to us. He does need to make that clear.

It has been a mixed message for too long.

Now we know. So, invest accordingly, for some it is a deal breaker. For others it is just part of the risk and reward factor.

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I have to agree that Ned is not a good communicator. His discomfort when he tries to is clear. Not everyone is a good communicator and he may need to get a spokesperson to do that task. People will complain if he does, but too damn bad.

@shadowspub
The current Rambling Radio Schedule can be found here
It's All About Community!

I found the entire thread really interesting too.

I thought Paulag's question was reasonable and well stated.

But I also find Ned's response to be reasonable.

And also @smooth's comment.

When smooth says anything I pay attention. But all three players in this conversation are coming from different perspectives and all are legit.

There isn't a right and a wrong, there is the reality of the situation and then each investor (potential investor) has more information to make a decision.

Invest accordingly and I am thankful they all chimed in.

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What she said (and I’m not a troll)^^^

also @daan, over the year I have spent on steem the ones who cry they are leaving usually end up staying, these posts are borderline discouraging to many new people so I am leaving this comment in hopes you will think of those who are new. If you stay ... great, if you leave that’s okay too we all have a choice.

!gif happy birthday

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Let me clear something first. This is literally the first time I've said anything negative about Steemit Inc.

I don't think I have to censor myself for new users, that creates an environment where pretty much any criticism is just swept under the rug. The first time I've heard about Steemit was through the Bitcointalk forum in the very early days (I've been a member here since early 2016)

There it was nothing but negativity surrounding Steemit, if you want to have a look at those early threads, here's an article that has screenshots of them all:

https://decentralize.today/the-ugly-truth-behind-steemit-1a525f5e156

Despite that, I still thought Steem had great potential and was willing to invest my time into it.

I hope that I don't sound too mean, I think it's great to be positive, I really do. That doesn't mean that I should refrain from writing my thoughts after seeing that discussion. I'm entitled to publish my opinion and a little bit of honesty isn't bad at all IMO, even if it's negative from time to time.

To be completely fair, maybe I did react a bit harshly, especially after I've read all the comments on this post. Sometimes it's just good to let everything out and let other people bring you to reason ;- )

Thanks for the birthday wishes!

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Who said sensor ... i did mention borderline discouraging. And as many said above it’s all perspectives regarding the posts you brought up. Again, choice was what i said at the end. We all have one. I hear negativity about steemit everyday first about 8 months from bix weir and gang so I hear what you are saying. Many and I mean many “financial advisors” say leave since it seems too top heavy, ninja mines, That abuse with flags, etc.
nope you don’t sound mean but my point is many say they are going to leave and do not, the one s that leave do so without a post or discord goodbye. Ultimately its your choice. Everyone does have a voice. It just sort of sounds like a broken record if you get my drift, I’ve seen posts but like this from many and my perpective anyway is if one feels they must go then do it, it feels almost like a ploy to get sympathy, empathy, upvotes even if that may not be the intention. Ahhahah anyhoo go have fun on your damn bday!!!

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Honestly, I get what you're saying and perhaps I should've been a little bit more reserved before writing something like this. I can tell you one thing, reading that particular discussion between Paula, Ned and Smooth wasn't something I should've done when I'd already had two glasses of wine :-/

Then again, they say people are always a bit more honest when they're slightly tipsy...

it feels almost like a ploy to get sympathy, empathy, upvotes even if that may not be the intention

Well, every post is written with the intent to get upvotes, otherwise you'd refuse rewards. Sympathy? Perhaps, although I was expecting quite a bit of backlash honestly.

I'll definitely check out some of your posts as well, I don't mind having my views challenged, though I think I'd probably agree with you on the majority of points.

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Rule of thumb: don’t drink and steem 😂😂

!gif cheers

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Duly noted! I'll stick to #steempub next time 🍺

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Like you, I’m worried. Deeply worried about Steem.

Happy birthday.
As long as this platform can be used, I'm not panicking... We are screwed everywhere, here, on the internet, by the banks or by our governments...
It is what it is...

I don't think they would do a mass dump as that would destroy the value in their investment. They are more likely to bleed them out over time (as any whale would).

Private companies are private; that is their nature. Ned is not a good communicator at the best of times and is sick at the moment so his short response does not surprise me. He is feeling the stress of the bear market and has a community screaming for blood. How would any of us react in those circumstances other than saying mind your own business .

Do we deserve better as a community? : for sure.
Is this the response you expect from a software engineer with limited communication skills under pressure from an angry community who have lost a lot of value in this bear market and want answers (or blood) and a true leader to emerge ? : darn right it is.

Thanks for pointing this out to me.
Forgive me for not being sure, but our accumulated SP is tied to the Steem blockchain, and not to Steemit Inc, right?

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And happy birthday, of course!!!

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Yes, but guess what happens to it if Steemit Inc dumps their 80% of all steem into the market.

I don’t personally see the big deal. I don’t see an issue with her request or his response.
Unfortunately most of humanity relates through complaint. As complaining and pointing is easy.
What is difficult is to see a problem and create solutions.
I don’t actually even see the benefit of ‘open books’. Open the books so everyone can then complain about choices of spending.
Having watched, read, and listened to @ned I see a person who cares about the community and wants it to thrive. We can nit pick all day the hows and what’s of him and his management. For me this just isn’t the way forward. Of course Ned will make self protection choices... that’s natural.
Steemit is flooding with bitching and FUD.
Meanwhile check this out... an amazing initiative happening right now... sponsored by @ddaily
https://fundition.io/#!/@appropriatetech/dmrqyqla4

And this is just one of many amazing things going on while everyone wastes time bitching about @ned
Nobody saves steem but us. The sooner people stop looking to Ned the better in my opinion.

Posted using Partiko iOS

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What's to prevent Ned from just dumping everything on the exchanges? Do you think that Steem would ever recover from something like that?

Not that I think that's going to be the case, but the danger of that happening would be present.

I agree with you that people are very negative these days, some rightly so, others maybe not. That doesn't mean that we can't ask some hard questions.

I'm a big fan of these livestreams that Ned is doing and have already expressed my gratitude for them. It's just that we possibly have disaster hanging above our heads and that truly worries me.

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nothing stops steem from dumping. Thats their choice. Just like you can dump your own steem right now if you wanted to.

Happy Birthday @daan!

Happy birthday!

This was very concerning t read but reading the first comment balanced it out nut just a little

Happy Birthday! Thanks for bringing this exchange to my attention as I did not see it! I understand both parts but we need to realize that if we demand these disclosures from Ned and Steemit, Inc. we are being no different that agencies like the SEC that treating these tokens issued like securities when they are not. It is a think line and we need to be careful that we do not shutdown our approach towards decentralization. I understand that Steemit's stake has major implications but over time it will diminish as we improve the distribution of the token through the inflation and the underlying infrastructure as we are moving towards as well.

Happy Birthday ! There are several Investors who have the power to tank the prices on the market if the want to considering Steem market cap and the current demand on the market, at the moment discretion to holdings by top holders and their plan with their stack is beneficial to the growth of the platform.

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Happy birthday @daan, I really hope you don't leave, such a positive beacon here!

You totally should leave Steemit. I have. I'm using SteemPeak now. They haven't made many major updates to Steemit in the last year and it has hurt us. We've existed with limited ways to find content for over a year while Trending has been full of shit.

Steemit isn't Steem, and it's about time we learned it. If Steemit did exit scam, which I seriously doubt, then it would seriously hurt, and the price would tank, but we have a lot here, and we could possibly recover. We need to set up things so that even if they did go bankrupt, we could continue and thrive. Even if that part of what he said is bullshit, it doesn't have to be.

Steemit doesn't have to open their books...but Ned does kinda suck at public relations. It is what it is.

If we don't like the way things are, we can just take more and more responsibility ourselves.

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Yup, I've been using Steeve recently and I'm very happy with it. It's just way better for finding great content.

I really wish that Steemit.com would get some updates though, like it or not, it's still the website new users tend to see first.

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I was using Steeve and SteemPeak back and forth...but I don't agree with their decision recently to start commenting on any post found through their suggestion interface, and then using the user's keys to upvote that comment.

it's all part of the process of making STEEM truly decentralized. the only part i worry about is who all is involved with making the STEEM blockchain stable and a solid asset.

Have a good birthday dinner dude!

It is definitely troubling... but I personally feel that even if STINC drove the price to $0.00USD, this is still a trail-blazing platform that has a value of greater than 0. As a platform for building apps, there's not currently anything like it, as a platform for businesses to interact with potential customers, it's great. If STINC did drive the price to $0, that might actually be a good thing, because potentially true decentralization would rise from those ashes.

The problem I had with that whole conversation is that if all Steemians work really hard and bring the price up themselves, then STINC benefits... and while they've built us an amazing world-first platform, they've also been a bit arrogant and dodgy about it... so yeah, I'm in two minds... but don't let Steemit.com distract you from the amazing community here. I've honestly had an absolutely ball on this platform so far!

Thats not a unexpected or unreasonable response. They are not a public company, and they do not have a way to control prices, therefore no one owns any share in steemit.

We own tokens on a blockchain that operates on witness node servers. If steemit went down, but the witnesses keeps the light on, the blockchain would still run and operate.

What they do is development. We come along for the ride.

Happy Birthday to YOU!!!

They always had the power to tank steem. I just think that is Ned being his usual self. Seems he always acts like that to me.

Happy Birthday @daan!
Go enjoy the day!

Even when I feel some fear about how low is STEEM price, one thing is clear in the Ned response, Steemit Inc. is not STEEM, means the price could be 0.001 and Steemit Inc. could still be alive.

Also, I think Ned is possibly one of that guys that got a lot of money in the 2017 crypto bubble, so if he loves this project (I think he does) everything will be fine.

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Happy birthday, Daan! Hope you have fun partying tonight.

As to the post, I think Steemit's departure would be catastrophic but not cataclysmic. The blockchain would not completely collapse, but the value would certainly drop hard. Ned's actions are his own, we cannot control him. That said, you'd think he'd want to keep the Steem blockchain (and all its stakeholders) happy and humming right along.

I'm still gonna keep posting though. Just saying...


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Wow, this was all very interesting. I guess I can see both sides of the argument, but it is still a little concerning. I guess we just need to move forward and see what happens. It does make me a little more cautious about investing more fiat. I might just let things go organic for a while. I hope you had a great birthday!

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