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RE: Steem - Binance issues apology letter to Steem Community
I think in this situation, that Justin Sun aka Tron should sell their Steem Stake thru a public auction. After Justin Sun bought the Ninja mine Stake and didn't even understood the Steem mechanics, community or agreements I think he should just admit it was a bad decision and try to sell the ninja stake in the best possible way.
He could advertise it that Steem becomes more decentralized by selling the Stake to private investors who believe in the new course of Steem.
I hope that we see something like this otherwise we have to deal with reckless dumping or another big investor with bad intentions.
The problem...
Who is going to buy a stake that can't be used for anything? It is essentially worthless if the community only allows it to be used to 'develop' steem.
I think it is reasonable to assume that if he would sell his stake in a public auction, that there would be many new investors coming in to Steem and those Tokens will be treated as regular Steem Tokens. That way we could promote the sell as - Steem becomes more decentralized - and Justin Sun could promote on this and hopefully releases SMT as well on the way :-)
So they are treated as ordinary coins to others, but not to Justin? Not sure how that would work out...
I think there is a difference between a private sale between justin and Ned, and the opportunity to auction of the stake in a public sale.
Private agreements like "not voting" should have been clarified in the private sale but they didn't, that doesn't mean that those Steem Tokens could become regular Tokens when distributed to many investors.
Justin Sun should just burn the stake. That would push value of STEEM up and no sane community member would block that attempt. That stake is already tainted.
If he does that he loses out on whatever value he paid for that steem. In essence lighting his money on fire. I am sure he isn't in a hurry to do that.
He already lost the value... Tainted money is like drug money, when you use it, everyone knows it's dirty...