Hostile takeover of STEEM

in #steem4 years ago (edited)


Justin Sun did a hostile takeover of the STEEM blockchain this morning. Without warning he funded 20 new witnesses with his stake and bribed 3 exchanges to use 2 million of users stake to vote on his witnesses, the result? The top 20 witnesses are basically all controlled of Justin Sun.

I don't know about you, but I think this is very bad for decentralization and call for action.

The best bet is a HARDFORK that exclude all steemit inc's and related accounts to insure a free and just environment.

Justin Sun don't care about censorship and decentralization, he cares about money and power and he is probably going to obey any of the China government wishes in regards to anything, let alone censorship.

Hardfork to STEEM CASH or other new name, since Justin Sun effectively own the name STEEM, but does he own the community?? WE decide!!

/Lasse Ehlers


We hope it will be okay, and there shouldn't be cheating on this blockchain, even though it belongs to him

I think the best solution is a sister-chain where the Steemit Inc and other ninja mined stake is HARDFORKED out.

I believe we need to get rid of the witness hierarchy, increase the node count and take the staked weight out of governance voting to truly decentralize the fork. Then this will not happen in the future.

Nodes, not witnesses.

I like the stake weighted voting, since it is anarcho capitalistic in its nature, as an opposite to 1 vote per person, like in democracy.

I also don't think that we need more witnesses or nodes, as it will be too time consuming to keep track of them.

The problem we have at hand is that one person/entity control too much stake and that that stake was promised to not being used for voting (when Ned controlled it).

I see a hardfork as only solution.

Well, then the same thing can just happen again. You like stake weighted voting for governance? Your rationale?

I think the problem here is that Steemit Inc has a huge ninja minded stake, if they didn't have that then they could not take over the top 20 witnesses.

But Justin did, without the stake...

What? He control the Steemit Inc stake he bought from Ned plus he probably bribed 3 major exchanges into using the STEEM that costumers had sitting (powering it up and voting for Justins ghost witnesses)..

Coin Marketplace

STEEM 0.25
TRX 0.10
JST 0.031
BTC 37793.53
ETH 2029.43
USDT 1.00
SBD 5.12