Keep Your STEEM Powered Up, or Power It Down, Your Choice

I didn't think there was any support by witnesses to fork out Steemit's stake. As it turns out, there may have been. There were actual discussions to remove Steemit Inc.'s stake, at least according to some witnesses and what is being said in posts about the issue. I thought this idea/plan was limited to the github fork (by a former contractor I believe he was) where the code was added to take the funds from all Steemit Inc. related accounts on the blockchain. I thought that's all it was, 1 person in some fork no one would ever approve. I was wrong it seems.

After reading the post by @thecryptodrive, I see that there were actual discussions by (many?) people in a private Slack group to "freeze Steemit's accounts" or "cede a portion of their stake", among other things:

Therein discussions were held over various solutions such as forking the existing chain to freeze Steemit's accounts, forking to a new token, entering into discussions with Steemit Inc. to establish a middle ground such as a community trust or governance model where Steemit would cede a portion of their stake into in addition to control of key github repos that should be under community governance or the status quo which nobody wants.

I don't know if this is an accurate representation of what happened, or how many were involved in considering this, or how many supported it. But to think that this was in any way a viable action to take, is disconcerting.

I don't like how many have "ninja mined" stake, but they do. If you're going to remove one account's "ninja mined" stake, then you have to do it to every else who has ninja mined stake. And even if you do that, it spells disaster for the chain where witnesses can essentially rob people of their stake, as long as there is a "consensus" to do it. Again, I don't even know if there were any of the top 19 witnesses who agreed with this idea. I'm just saying.

I agree with some issues brought forth about Steemit Inc., like not communicating well, and having the complete control over the code for the Steem blockchain. I would like that to change, but to suggest taking Steemit Inc.'s stake is folly. If you think the crypto community is reacting negatively to Steem because of how Steemit Inc. has managed it, forking their stake away would spell disaster for the integrity of Steem itself.

As for the power down, Ned and Steemit Inc. can do what they want with it. That's what is preached by so many around here that "people can do what they want with their stake". Why would it be any different for Ned or Steemit Inc.? What, just because they have more of it than anyone else? So what? The amount doesn't change the principle being adhered to that anyone can "do what they want with their stake".

I personally don't agree that "anyone can do what they want", as stake power can be abused, as happens often with flags. I also disapprove of the whole "bidbot" use of stake, as I see it as devaluing for the platform in the short and long-term. The idea that "bidbots will make people buy STEEM to 'promote' their posts, therefore raising the value of STEEM" is false, as we can see. Prices aren't going up because of bidbots. If anything, the value relative to Bitcoin has gotten worse. There are better ways to use stake and better ways to try to get people to buy STEEM. But that's just how I see things.

Steemit Inc.'s power down could mean they are going to sell it (I doubt it, but I can hope for lower prices ;) ), which would be good overall. Even if the crypto community sees this as a bad thing for a company to do, or because it would put downward pressure, so what? Is the value of STEEM the only thing that matters, or the most important thing? No.

If STEEM went down to $0.01 or less because Steemit Inc. would sell all their stake, do you think that spells the end of Steem? Would it never recover? I think it would allow more people to buy STEEM at a cheaper price. At least for those who believed in the blockchain. And sure, ill-intentioned wealthy people could also get in at that time (or now). I wonder if those who advocated for taking Steemit's stake are now preferring Steemit keep it, because it's better in their hands than in the hands of someone who would do worse? That's funny if they are. In the end, "it's your stake and you can do what you want with it", right? LOL.

Some think that the stake will be put into alt account and used to influence the chain more, as opposed to before when it was held in few accounts we knew were owned by Steemit Inc., where everyone knew what was being done with the stake. Well, that could happen. So be it. Maybe the top witnesses should have thought of that and been more adamant about shutting down any possibility of forking out Steemit Inc.'s stake, and none of this would have happened in the first place. I think Ned would have not seen a threat in that case.

If no witnesses supported the confiscation of Steemit Inc.'s stake, then it should have been made more clear at the time, and Ned wouldn't have thought/felt there was a real threat at play. Maybe the discussions that took place can be made public, or at least given to Ned as proof of who was or wasn't for this idea, and he can see that it would never have happened because it would have never been accepted by a consensus-forming majority of the top 19 witnesses.

That would be my suggesting for them going forward. Show Ned there was no threat. And if there was, then who can blame him for doing all he could to safeguard his stake (ninja mined or not), as anyone would if they were under threat of having it stolen.

Either way, the power down is his choice and I don't stand against anyone powering down, or wanting to sell their stake (which I doubt he will do). I welcome it. Bring STEEM to the lowest low possible if that's what is going to happen, then we can move forward knowing we're at the worst position with only one way to go.

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Thank you for your time and attention. Peace.

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