Update- Huobi started powering down

in #steem11 months ago


Ciara's tweet announced that Huobi is powering down. It's a good start. Hopefully Binance follows suit.


Binance started powerdown of ONLY 16K #steem
This is unbelievable. Are the leading exchange @binance tech people really so incompetent, and do not see a difference between STEEM and MVests?
Or just pretend so dumb, in reality trying to win TIME for new strikes back from @justinsuntron ?
Instead of 31.739 MSteem they tarted 31.739 MVests. Incredible !

Are the leading exchange @binance tech people really so incompetent, and do not see a difference between STEEM and MVests?
Or just pretend so dumb, in reality trying to win TIME for new strikes back from @justinsuntron ?

The first one would fit Hanlon’s Razor (never attribute to malice that which is adequately explained by stupidity) so can’t be completely dismissed as a possibility.

But the second seems quite plausible given how this coup d’état has played out so far.

Hey can we reachout together on twitter to Binance guy...to power down fully...CZ responds to tweets.

I am thinking of twitting this image...and tell him to power down fully...which hashtags would work? ... I am not that twitter savvy.

No need any more. They are powering down now at full


Now just find a couple of competent and reasonable people and start negotiations.
Not the ones who already participated. It was a disaster.
And downvoting Sun's post will not help either.

I find the steem negotiators a perfect match. Don't bring me new ones, I started to like them. Just remove Marky else Roy will not let me speak again!

You're chinese and I really thought that you'd read Sun Tzu...

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”
― Sun Tzu, The Art of War

Now is clear that you didn't read or if read lost your mind allowing that someone works with you thoughts and you made this completely mess. Unforgivable mess.
You bring to the blockchain history: for good and now on for bads.
So you have a long time to fix that... Welcome to Steem!

Do you mean the last Town Hall talk? Are there a recording, full impressions?

I listened to it already. I mean the yesterday's talk.

Some of the negotiators did well others were terrible.

Yes negotiators. And community involvement.

This is good news! Still a little worried about the sharp increase in Steem volume on Bittrex... and how it seems to be making its way to one of the suspect accounts... as a result of which the overall vote value supporting each the 20 bot witnesses has been creeping up slowly, over the past 2-3 days. We're not out of the woods, yet... and it seems like the Korean community has something going on, too...

How and where do you see those stats? I’d like to check them too!

You can see exchanges volumes on https://www.coingecko.com/it/monete/steem#markets

Thanks I’ll check it out.

I have some Bitcoin in Bittrex and Poloniex. Perhaps, I should pack up and leave. I guess I don't really need to keep money in those exchanges, especially if I can't trust them.

Whatever happens we really need to find a way to stop this kind of thing happening again. Nobody should be able to come in and buy the network.
My stake is quite small but my social stake is quite large having been here for nearly three years.
I would love to see a way that this is taken into account in the Witness votes. Something like a REP system that works and a way to use that to multiply my vote strength.
A new account, a week or two old should not be able to have such power when they don't have social skin in the game.
I wrote more about this in my latest post but it fell down the back of the Steem sofa.

Should Steem have three or four branches like the U.S. government in order to seek balance, like you said, @ammonite, in order to stop this from happening again? I'm not sure how the branches would work but perhaps there could be different teams. So, instead of buying just Steem and instead of only voting for just witnesses, perhaps we could have for example, Red Steem and Blue Steem, Red Witnesses and Blue Witnesses lol haha, no, but seriously they don't have to be those colors. But there has to be a way to put limits to these types of things like you said. So, it comes down to the architecture of the blockchain, the design, the structure. I'm a bit of a web designer but I don't know too much about blockchain. I could probably study it but I can't really say too much at the moment concerning how that would be done.

I am not sure if looking to the way democracy is performed in the world today will give us good answers. They all seem to be corrupted by money. The REP or UA system that could be redesigned to add more weight to our vote based on our interactions on the chain. I don't know much about the workings of the Blockchain either but I am sure there is a better way. Thanks for the reply

The problem is not republics like America but rather the infiltration into the United States for example. One big problem is namely corporatism which is not really a consequence of capitalism but rather corruption and infiltration and collusion with government via cartels, monopolies, authoritarianism, tyranny, etc. I agree with you that perhaps our REP system or upvoting system could be redesigned like you said or something. We should all at least experiment, talk about it, and try at least.


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 11 months ago Reveal Comment

I can assure you no investor is going to be buying the ninja-mined stake that was promised for development any time soon. There has never been any issue with regular investors buying ordinary stake, but this is not that.

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It is a complex story with many different perspectives. I am aware of what the Witnesses did and although I may not be in full support of it I think they made the right call at that moment based on what was happening. Freeze until there was clarification.
The stake that Justin bought was promised by Ned to use for the good of the community through a gentleman's agreement. Obviously Ned is no gentleman and sold it on for personal profit.
Many investors got into Steem under the understanding that that was what Steemit's stake would be used for.
Let's hope everything can be resolved for both the good of Steem and steemit.

 11 months ago Reveal Comment

I believe the issue was more with the stake than Justin and rightfully so. For those of us who invested in the blockchain for the last few years I agree that trust in Ned to do the right thing was wrong.
For the record I don't think any whale investor should wield such power in governance unless they add to the community in other ways.

The Steemit account is an absolute majority (about 70%) of the actively voting stake. You can't expect all of the supply to ever vote because much of it is liquid for trading as well as dormant or even lost accounts.

The only way we know how much stake is going to vote is by how much actually votes and i that case it's a clear majority.

 11 months ago Reveal Comment

So freeze all large investor whales in the future?


This is a decentralized blockcain.

Good then stop going on about legal documents (in your other replies). People are free to run whatever software they want, and that includes forks. Blockchains are entirely voluntary and don't rely ultimately on coercive enforcement by government institutions the way centralized systems do. That is their entire purpose for existing.

ITs the risk we take

"We", in this context, means everyone. When Justin buys a company that has stake on a blockchain and that blockchain community has a clear understanding of how that stake is to be used, he violates that at his peril.

We all share the same interest of improving the value of steem .

Absolutely and that includes insuring that the 65-75 million steam that was earmarked for development of the ecosystem is used for that, regardless of whether or not the shares in some company change hands.

In truth, the community accepted Ned's lies and spin for too long and enforcement of on-chain controls over that stake should have happened long ago, but better late than never.

Justin did not pay anything close to 12 million dollars. He got a massive discount, either because he know about the stake being a form of dev fund and thought he could jam it out anyway with the help of exchanges, or he couldn't resist a deal that was "too good to be true" and didn't bother to carefully look into what he was buying.

 11 months ago Reveal Comment

How much he paid is not an opinion, it is a number. The rest of my comment is a set of alternatives, which is also not opinion, as one of them must be true. Did I miss some other possibility? I don't think so.

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All I ever Wanted was to Play Steemmonsters in a Peaceful World....... @aggroed

Fuggg yeahhhh!

A good start but why hasn't Binance begun their powerdown? ...it's been 14hrs now.
Stalling tactics once again before the next propaganda blitz, imho.
Keep up the pressure.

They did now. Apparently there was a some genuine confusion over how to use the wallet.

Still, what Ciara Sun claims to have said regarding the powerup - allegedly given scripts by TRON to initiate the coordinated powerup, talk of death threats, and that CZ was in the chats prior to the powerup... this seems more like collusion every day.

Unverified at this point but makes a lot of sense.

Who is more stupid:

A girl with Dawn Syndrome or Extreme Communists who don't understand basic economy?


Did Justin Sun get a sex change already?

Please help me to understand how and when its help steem witnesses to get there control back ?

Vote real witness

And don't let others vote for you. No proxy.. just do it yourself.

So in less than a week, we may see a sell off ? Only ? is will it hurt or help.

lets wait for Binance now (its coming, i feel it) and we are done here.

It was reported a few hours ago that Binance was going to start powering down. Good news all around.

Yea man!!!! Hopefully Binance will quickly click that power down button. Had been waiting for ages.

This is a positive response but negative for Justin Sun.

great news

What is with Binance ; why are they dragging their feet after the announcement. Something fishy going on.

Killer news! Build our community and this won't happen again!

Is the Test 45 account @test45 secretly the mother of Tron Babysitter Justin Sun?

Nope... Come on man...

But it has no profile picture, meaning it could be your mother.

Could be my dog... Oh wait he has an account


 11 months ago Reveal Comment

Good to know

Congratulations @aggroed!
Your post was mentioned in the Steem Hit Parade in the following categories:

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If they want to repair damages, they should also vote for community witnesses

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