Justin Sun Conversation with Witnesses Is Online. @Ned Sold Out The Community - Failed to Disclose.
(Edited)
UPDATE: Ned just commented on Twitter:
Thanks to @ausbitbank, the recording from the private witness conversation with Justin Sun is now online.
The short summary is:
- @ned failed to disclose to @justinsunsteemit that the Ninja mined stake had been earmarked for community development and was not to be used for witness voting prior to selling it to him. Evidence of this was requested by the TRON team.
- The TRON team said they were flexible with regards retracting their false and slanderous accusation that the consensus witnesses were malicious 'Hackers' - but failed to provide a guarantee that they would publish a retraction at this time.
- The TRON team claimed their aim is to profit from the purchase, rather than to participate in governance.
- The TRON team claimed they want to cancel their witness votes asap.
- They TRON team intends to put a fork in place to allow the exchanges to power down the stake they powered up in order to vote for witnesses with their clients' tokens. The witnesses generally highlighted that this was not agreeable and that the fallout from the actions taken by these exchanges needs to be handled by the exchanges and should not be accommodated by a hard fork.
- The TRON team have limited understanding of the fine points of the block chain governance system in general.
It seems that even during the meeting, more STEEM was being sent to the TRON accounts that are voting in their top witnesses in order to maintain their position, despite the community moving to reinstate their own top 20 witnesses via rallying around them with their witness votes.
Meanwhile @ned has made his twitter account private and possibly has some difficult questions to answer.
The full recording is on now on 3speak:
Youtube version is below:
Wishing you well,
Ura Soul
You Can Vote For Me As A Steem Witness!
Click the big black button below:
View My Witness Application Here
View Some of My Witness Related Posts
Note: Witnesses are the computer servers that run the Steem Blockchain.
Without witnesses there is no Steem blockchain or DApps such as Steemit, Steempeak and 3Speak... You can really help Steem by making your witness votes count!
I am founder of a Digital Marketing Agency called @crucialweb. We aim to help our clients to grow and innovate online and are passionate about decentralised technology. Get in touch if you'd like to work with us.
I run a Steem powered social network for healing, balancing and evolving too. Meet compassionate co-creators of reality, learn, share, make life better and receive STEEM too!
0
0
0.000
Thank you for the update breakdown. Sounds like a good meeting. 👍
According to the Bible, Are you the true church?
Watch the Video below to know the Answer...
(Sorry for sending this comment. We are not looking for our self profit, our intentions is to preach the words of God in any means possible.)
Comment what you understand of our Youtube Video to receive our full votes. We have 30,000 #SteemPower. It's our little way to Thank you, our beloved friend.
Check our Discord Chat
Join our Official Community: https://steemit.com/created/hive-182074
interesting
Thanks for putting this up. I haven't hit play yet.
They stood their ground. I needed to hear that.
I pressed play.
What more needs to be said? All Justin wanted was his money. He got his money. Now where is ours? Remove the sock puppet account FAKE witnesses and let's just get back to work. Anything else that still needs to be settled which doesn't directly impact everyday operations can be handled in the background.
Exactly, Son
Who you callin' son, boy.
Loo
zer?
Oh, I thought he was signing of as your son. Maybe some long lost family? :)
I don't see any resemblance.
Who you calling boy, son.
themarkymark , can you please post the legal agreement ned had with the steemit community in regards to his stake. Also which lawyers did you talk with when you decided to freeze 12 million dollars in Suns legal property?
Don't like themarkymark either? This bot downvotes everything themarkymark posts. Help by delegating:
5 | 10 | 20 | 50 | 100 | 500 | 1000
Unvote themarkymark for witness here
"I've never seen anyone leave such a long trail of blazing dumpster fires. I now believe the wreckless downvoting and blacklisting of thousands of accounts by themarkymark et al is the SOLE reason the price of Steem continues to fall. I didn't even make the photo for this post. That's right, I found it online. Fucking amazing."
Look at all these complaints from people all over the Internet
Most of these are written OFF of Steemit so as to avoid being downvoted and hidden. Amazing. So much for this "censorship-free blockchain".
themarkymark Hey. Sorry about your shit coin...
Groups of people and a top witness (themarkymark) are trying to dive me off of steem/steemit by harassing me
Getting blacklisted (by themarkymark) becomes expensive on Steem
themarkymark & Berniesanders Responsible For Altcoin Collapse?
Is TheMarkyMark Abusing The Steemit Blockchain?
https://m.youtube.com/watch?v=3gnH8lxxFQM
Listen as themarkymark evades questions about his identity and gives up his real motives
The Arrogant "themarkymark"
Dedicated to that unknown mystery douche: themarkymark
@themarkymark Stole Thousands Of $$ From Me
My Letter to @themarkymark - in response to his continual flagging of my account
Harassment and Censorship by themarkymark continues. Now flagging everything I post for no reason
Crooket @themarkymark
@themarkymark, another fake account that flags without reason, like the berniesanders whales circle jerk
Another example of censorhsip on steemit. Witness (themarkymark) downvotes truth about his actions.
Big Thanks For ThemarkyMark, Anyx, Patrice and Others Who Helped Ruin Steemit
Open letter to those who provide Red Flag with downvotes
My Post About Asian Countries Being the Largest Ocean Polluters Was Downvoted By Badcontent. WHY?
I Got Downvoted!?! It's Not Fair! Can You Help Me???
More THIEVES (themarkymark) on Steem Blockchain? Be careful with bidbots...
Clone this protest bot
I don't see how there could be legal ramifications for not processing transactions? Witnesses are free to process whatever transactions they feel like, and @themarkymark has decided to run node software that ignores incoming transactions from Steemit. He's not really freezing Steemit's funds, he's just ignoring Steemit's requests to process transactions. If @themarkymark wanted to, he could also, say, only process transactions with a memo of "fjoqwfqa".
Don't call me son, guy!
Don't like themarkymark either? This bot downvotes everything themarkymark posts. Help by delegating:
5 | 10 | 20 | 50 | 100 | 500 | 1000
Unvote themarkymark for witness here
"I've never seen anyone leave such a long trail of blazing dumpster fires. I now believe the wreckless downvoting and blacklisting of thousands of accounts by themarkymark et al is the SOLE reason the price of Steem continues to fall. I didn't even make the photo for this post. That's right, I found it online. Fucking amazing."
Look at all these complaints from people all over the Internet
Most of these are written OFF of Steemit so as to avoid being downvoted and hidden. Amazing. So much for this "censorship-free blockchain".
themarkymark Hey. Sorry about your shit coin...
Groups of people and a top witness (themarkymark) are trying to dive me off of steem/steemit by harassing me
Getting blacklisted (by themarkymark) becomes expensive on Steem
themarkymark & Berniesanders Responsible For Altcoin Collapse?
Is TheMarkyMark Abusing The Steemit Blockchain?
https://m.youtube.com/watch?v=3gnH8lxxFQM
Listen as themarkymark evades questions about his identity and gives up his real motives
The Arrogant "themarkymark"
Dedicated to that unknown mystery douche: themarkymark
@themarkymark Stole Thousands Of $$ From Me
My Letter to @themarkymark - in response to his continual flagging of my account
Harassment and Censorship by themarkymark continues. Now flagging everything I post for no reason
Crooket @themarkymark
@themarkymark, another fake account that flags without reason, like the berniesanders whales circle jerk
Another example of censorhsip on steemit. Witness (themarkymark) downvotes truth about his actions.
Big Thanks For ThemarkyMark, Anyx, Patrice and Others Who Helped Ruin Steemit
Open letter to those who provide Red Flag with downvotes
My Post About Asian Countries Being the Largest Ocean Polluters Was Downvoted By Badcontent. WHY?
I Got Downvoted!?! It's Not Fair! Can You Help Me???
More THIEVES (themarkymark) on Steem Blockchain? Be careful with bidbots...
Clone this protest bot
You are welcome.
Appreciate the summary brother.
Why am I not surprised this is down to Ned.
This place isn't much good if he who has the most (access to) STEEM has the most power to do whatever they want. Not much different to Facebook really. Even if he returns things to normal, now we know what he can do, any time he likes. Which doesn't seem to bode well for the future.
Negotiations are still set to take place in a few days and there are ways that this can be resolved in a win-win for all. That said, it has always been true that STEEM can be taken over in such a way.
Not if the 3 months power down remain were they are... This is crucial in order to avoid that shit...
I was referring to being taken over by someone simply owning more stake than everyone else - as opposed to exchange collusion.
See my post and "Postscript" comment in this thread of how a win-win can be created.
I never trusted Ned based on his facial expressions.
Body language is telling, yes.
Yes
I was really surprised that Sun's team-member/confidant didn't know more about Steem and the workings of the chain. I figured Sun himself would be pretty clueless, but he doesn't have anyone around him who understands it either. Hopefully they get educated before the next meeting so they can actually agree/disagree to real proposals like removing voting authority for those accounts.
It is a common tactic to respond to challenging information by alleging ignorance. I am not convinced @ned did not inform Tron of restrictions on the stake he sold. It will be necessary to see the purchase and sale agreement executed to ascertain the facts of the matter.
As I have pointed out elsewhere, due diligence Tron should have undertaken could have included an intern and a couple pots of coffee to sift through all Stinc posts that in any way referred to use of their stake. If they didn't do that, that's not @ned's fault, nor is it our concern.
Regardless, if you buy a car that goes 50MPH, you can't later go 60 in it. You bought the car that was sold, and Stinc sold stake that was constrained in certain ways that do prevent it from exercising governance, and simply being sold on exchanges for fiat. Insofar as Stinc is prevented from doing so, whether @justinsunsteemit or Tron did their due diligence or not, using that stake to exercise governance creates an actionable cause at law, and anyone harmed by that unlawful exercise of governance should join the class action to seek remedy for that harm.
I know that I have suffered extreme emotional damage as a result. Who's with me?
Ned and Justin most likely made a deal off the record. They both are likely planning to go to the grave with their secrets, their plans, if they can.
Or Justin knew better and is guilty of theft.
Quite likely the TRON team promised the exchanges that once they had control they would implement a hard fork to allow them to re-liquify their stake.
For me, and many others, trust is gone. The STEEM community has no obligation to make good on the sale of Steemit nor to facilitate or compensate the exchanges who have acted in bad faith.
The exchanges have been cought out let them take the fall out.
Indeed. I am still quite shocked that a market leader like Binance has trashed it's reputation for a few shekels in payoff. It was an incredibly poor business decision.
In the grand scheme of everything this is minor for him. And he publicly took blame on him.
The "onwards" hashtag he used in his tweet will be the reality. One can but hope he will audit how things went and design a better decision making process but that's probably slightly too idealistic. But who knows... he and huobi may have learnt from this?!
No, I'm not downplaying his mistake but life is fast-paced for those decision makers. Dan's celebrating DPOS` resilience, Vitalik's probably sniggering at his position on DPOS being validated... just another day in crypto & life goes on.
Fools do business with fools, liars, and thieves.
No one that cares about their money will.
No, he claimed it was a 'mistake' and they thought it was a normal hard fork update being pushed by the devs. Except that one does not lock up customer funds for a normal hard fork update, so this is a lie.
It's a you scratch my back, I scratch yours rich boys club. The exchanges are corrupt but will still prosper (probably) unfortunately. They think the masses will shrug their shoulders and forget about their treachery but I think the peasants are PISSED.
exactly - new video coming up soon regarding this - in my own subtle way of course.
(endcoding as I type)
that I'm psyched for and am surprised after some shenanigans by Ned in the past people are surprised he did this, Cognitive Dissonance is a thing I guess O.o
this is proving a hard lesson in the cryptoverse on how DPOS cuts both ways, yikes
Freedom of the community requires eternal vigilance by all. Fortunately the witnesses had an inkling of this and had the SF. Ned sold his soul for his pound of gold-good riddance.
Bittrex didn't. The legends
good
All support for Bittrex is warranted in this regard but I wouldn't call them legends merely for doing the normal thing that all exchanges should be doing: Not misappropriating customer funds and then claiming it was a 'mistake'.
Agreed for sure.
What I meant was kudos to them for not caving to pressure from Justin Sun if he asked them to power up and vote witnesses in. I know you shouldn't have to congratulate some company on doing the right thing
What he's saying is this is not "the right thing", it is simply what's normal. They didn't go out of their way to do something good. "Not doing something bad" isn't "doing something good".
Agreed, trust is way gone, they are villains.
Is there any proof in writing that Neds stake was not to be used for voting ? Is there any proof that the exchanges use customer coins and not their own? They did control large amounts of stake of their own. At the end of the day if this was done with stake that rightfully belonged to Ned and Tron and the exchanges. I stand by it. I'm more troubled by the witnesses shuting down an account to redirect power to themselves. Whos next? themarkymark Blacklist? Where will it end. ? All accounts are now clearly in danger of subjective opinion by the mob. I guess i should be careful of what i say. I could be next . Right? Im now watching people upvote (buy) witness votes. THe very same vote buying bot people. HOw centralized are they with Witnesses?
lol...is it ok if i upvote my own comment? i dont want to anger the witnesses in case they regain control. They might freeze my account. Should i ask The black list god father the markymark for permission first?
A sock puppet account if ever I saw one.
Please do better next time.
Actually, been around since Paycoin. Used bitcoin miners to heat my house when trading them a $200.oo dollars. This was neds legal property. What lawyers did the witnesses talk too before freezing more then 10 million in legal property?
Indeed. For many trust is gone, and for people who were optimistic - trust is very shaken :/
This point is fundamental. They must assume the consequences of their actions without putting the burden of a hard fork upon the community.
This.
Yes
My legal analysis. Justin failed to do due diligence on the public blockchain code which contained restrictions on the ninjamine stake. He bought land on the moon and is now trying to convert it to land on Earth by illegal means.
Second, despite his statements of not knowing about the understandings regarding the stake, he IS bound by them. These understanding bound Steemit Inc which owned the stake. He bought the company and thus became bound by its pre-existing obligations.
More details here: https://steempeak.com/steem/@apshamilton/sun-s-folly-will-be-taught-in-future-blockchain-business-schools
Makes sense to me. Those restrictions were stated in writing in public. @justinsunsteemit could have done due diligence and found them. An intern and a couple pots of coffee would have been all it cost him to do so.
If @ned did not disclose those agreements, he's likely to face some blowback from Sun on the matter.
This just gets more fun all the time. I'm still waiting for the meeting to start on the recording, so I'll understand better soon.
Thanks!
A crook cheating a crook. Hopefully they'll eat each other in court but I'm not holding my breath.
While I strongly empathize with your sentiment, it is the hapless investors whose money is being used as a weapon by both that concern me.
We are the parties that matter, and the Steem community is continually stated to be the reason both sides are acting. This is the heart of the matter.
I'm trying to follow that argument but, I don't think I agree.
Big amounts of the ninjamined stash has been sold in the past to other buyers, yet the encumbrance did not get transferred to those buyers. Why should it be any different when the buyer is Justin? Just because he bought the entirety of the remaining stash?
Since Steemit Inc is a sole proprietorship, let's try to pierce the corporate veil and see how this looks: The ninjamined stash was, effectively, Ned's. He promised the proceeds of any sale would go to Steem's development. Now, Justin came and bought that stash of STEEM (again, as others have before, albeit in smaller quantities), paying good money for it. Ned simply cashes out, grabs the cash and walks away, A.K.A. an "exit scam", which totally violates his past promises.
I do not see how the attached strings would transfer to Justin. He just made a perfectly legal purchase. Ned did not misrepresent the property being sold. Ned is still bound by the promises he made and he must thus dedicate the proceeds of that sale to Steem.
2 answers:
Ok, but you'll agree that sine die freezing those funds precludes from spending them on development, right?
I see the point, but I notice that Steemit Inc was simply Ned's proxy. Promises made by Ned would bind him directly, and not just the company. I highly doubt corporate liability limitations would apply to adequately shield him away from his promises: The "contract" in question is informal enough and unspecific enough to consider it was agreed by Ned himself, not just by him acting exclusively in representation of Steemit Inc.
I think this aspect comes down to which legal entity actually owned the stake and the accounts. Was it actually ned as an individual, via the proxy of the various steem blockchain accounts? Or was it Steemit inc., headed by Ned, but it's own legal entity. This would be within the contracts that TRON holds, so perhaps we will see this at some point.
Following on what @apshamilton wrote, I want to picture this, maybe it's easier to understand. Think at Steemit's "ninja stake" as being land. Or any type of security. The owner of it uses that security to entice partnerships. In public writing, @ned committed to use that stake in a certain way in regard to witnesses, and that compelled them to invest.
It's like on some land he owned, @ned said: let's build a condominium. I'm putting the land, you're building. But, after 3 years and a lot of condominiums, he says: "Ups, I changed my mind, I'm going to give my land away". The guys that gets the land from @ned doesn't want to build condominiums, he wants to build a mall.
The problems are:
You can't stress too much that analogy. The property in question is a pile of fungible STEEM, not a specific land lot, and Ned had been already selling part of it those last years to fund expenses.
I would say that Ned had been selling parcels in one place to fund the building of the Steem condominium in some different place. Now Justin has come and bought the remaining parcels, but not differently that the other smaller investors before him.
Ned is still bound by his promises and must dedicate the proceeds of the sale to the Steem condominium. The encumbrance did not transfer to Justin, in the same way as it did not transfer to the other investors when they bought a parcel.
obligations are obligations, regardless of who they obligate and what they are obligations on. This is a clear principle at law.
What if Ned Scott Ned, whatever his name is, made a secret deal with Justin Sun? Imagine that they made a deal where it appears as if Justin bought it and that is just a cover story in order to move the money and the liability of an American Steem INC company might have in the United States under the laws of the USA and move them secretly to China and other countries as a way to avoid paying taxes and who knows what else. Perhaps, Justin is making some money as a fall guy. It is possible that he agreed beforehand that he would take the blame and look like an idiot. That would be like a win win situation where Ned and Justin both make some money and Ned then gets to lay low and avoid liability for whatever might happen legally to a USA company like Steem Inc. That would be like a new movie called Ocean 15, Dealing With The Sun and Moon lol.
Careful, that sounds like a conspiracy theory.. Don't you know conspiracy theorists are terrorists? lol ;)
Yeah lol. A conspiracy realist.
Interesting Analogy
We don't know what is in the NDA between Tron and Ned. (@48:25)
I'm not convinced that they don't understand what has transpired and there's more to the backroom deal than they admit to.
Hard to believe that a supposedly savvy businessman like JS wouldn't check every potential pitfall before dropping millions on an investment. Interesting times ahead.
Thank you for sharing this valuable opinion.
"whose voting rights could be frozen by simple board decision".
Sun replace the board with himself and reversed the freezing. What is legally wrong with that?
His coup against the community witnesses (replacing the board) was also done illegally by exchanges powering (locking) up their Steem in breach of their fiduciary and ethical duties. It also appears that Justin misled the exchanges by describing what was going on as a hack and security breach rather than the legitimate governance dispute that it really was.
Every 'good' vampire just wants their stake!
That is all I took away from listening to that meeting.
Gah! Squirming, scapegoating and ambiguous duplicity!
THIS IS STILL UP ON TWITTER!
@justinsunsteemit @steemitblog How bad do you want your stake? The steem community wants you to remove your sock puppet witnesses and they will gladly give you your 'stake'...just saying! #steem #steemit #steemrevolt #notyourblockchain
https://twitter.com/Jacob_Peacock/status/1235099113680592896?s=20
Yes Justin the Vampire.
When making any purchase, large or small, it is the buyer that needs to be aware, and that needs to do their own due diligence on the viability/usability of that purchase. When you buy a house you hire an inspector, when planing on buying a collectible antique car you hire a professional to verify the provenance of the vehicle. Ned sold steemit, if Justin Sun did not know what he was buying it was his responsibility to understand and to verify what he was buying. It sounds as if he did not even read the Steemit Road Mao, yet he was talking Tron's Roadmap, so I feel he likely did read and saw the uses of the Steemit Stake.
When you power up steem you are told that it takes 13 weeks to power it down. The people that powered steem up knew this, if it was not their steem to power up they should not have powered it up. It would be interesting to see a steem run on those exchanges where the depositors were demanding their funds back.
For the witnesses that read this, I would be against any shortening of the withdrawal time frame as I have been with all the previous post over the course of the last two months talking about it. The Next Hard Fork was supposed to be a stand alone SMT Hard Fork, and nothing else. It should be made perfectly clear during the next meeting that this is what one of the items will be when the Community witnesses re-take up the duties they were voted in to do.
At the end of the day, it is the job of the witnesses to protect the chain, not a front end.
Perfect plan.
The only problem is that exchanges will just disable withdrawals. And later on maybe even delist steem.
I am glad I do not know very much about the crypto process of buying and selling. I am learning slowly, mostly learning that you get screwed pretty easy in the crypto world.
Especially the small fish like you and me, hehe.
They will be hit with a class action lawsuit if they do. @jpbliberty will organise it.
Well, what the exchanges did already was illegal.
"Well, what the exchanges did already was illegal."
Says who? I'm sure these exchanges have their own teams of lawyers who see otherwise.
Do you like robbery?
"Do you like robbery?"
No I don't, which is why Steemit witnesses must be removed, one way or another.
You want centralization?
"You want centralization?"
Absolutely! That is the only way we can have accountability. Otherwise we will always end up with nothing more than a cesspool of fraud and corruption, just as Steemit has now become. Without accountability, both Steem and Steemit are only a few steps away from the grave.
Who gets to be the centralized governors?
"Who gets to be the centralized governors?"
In this case, Tron's management team (aka its board of directors), which is exactly how all publicly traded companies are run. Then if you do not like how the company is run, you have 2 choices: 1) Vote for a different board of directory at the next shareholders' meeting; or 2) Sell your shares. When the crypto industry is finally regulated (as it should be, and no doubt will be very soon), I suspect that is exactly how it too will be run.
I fully welcome regulation of the crypto industry. Only then will the fraud and corruption which now exists within the crypto industry be somewhat controlled. Sure, we may never fully get rid of it all, any more so than within the traditional markets, but at least regulation will be a very good start towards that end.
Are you saying that the witnesses are not the governors?
The company should have the ability to get rid of any witness they choose, at any time, just as they would have the ability to fire an employee. A witness should have no better status than any other employee...Witnesses are certainly not the gods that they think they are.
Alternatively, voting for Witnesses should take place on an annual basis, and all votes at that time should be accepted from currently active members only. As it now stands, there are Witnesses who have accumulated a massive number of votes, yet the vast majority of those votes are from members who have left Steemit long ago.
PS. I am not going to just keep answering your short questions, unless you are willing to contribute some additional dialog here, such as your views, etc.
So, the witnesses are not the company?
No they are not! They often think that they are, and often act like they are, but they are most certainly not the company.
Sounds great. Like the time I tried to sue a company for not paying my paycheck.
He shuttered the company, reopened under a new name the next week and I was out a significant chunk of change with no (legal) recourse. What prevents that?
This can sometimes happen with small businesses with no real assets, but there are laws against it.
Large exchanges with licences and huge asset bases can't practically do this.
"This can sometimes happen with small businesses with no real assets, but there are laws against it."
What "laws" are those? There are no laws against a company shutting down in order to escape some liability that it may have. It happens every day!
"Large exchanges with licences and huge asset bases can't practically do this."
Perhaps not! But do you realize just how low the chances are of ever winning such a lawsuit against a giant company like Binance? Do you know how many lawsuits are on the books against companies like Microsoft, Google, Amazon, and other such giants? Such companies have teams of lawyers who can make sure that cases are never heard before the plaintiffs either go broke, give up, or just die.
Exactly.
Steem (the company) has the power in this situation, I can't be the only one to notice the power struggle with the witnesses that ended with a whole pile of staff 'resigning' a few days later. If nothing else, that shows that the owners have the real power in this dynamic.
People love to go with the Steem is not steemit is not dapps. Except that without the company, the rest just falls apart, it might still exist on servers, just minus everything that gives it value stripped away (overly simplistic, I realize).
"Except that without the company, the rest just falls apart, it might still exist on servers, just minus everything that gives it value stripped away"
And that is exactly what blows my mind when I hear so many people naively talk about crypo and blockchains. Somehow they have adopted the false belief that if you have a decentralized system, it can continue on even if, and after, its founding company folds. Yet in reality, nothing could be further from the truth. As you so accurately pointed out, there is so much more to a successful coin or blockchain than its blockchain. Without the company behind it (providing core centralization), the rest is just a pile of unorganized parts which will very quickly fall apart on their own, and then everything is lost.
There was a bit of a mixup; In general cryptos can operate in a decentralized way, they aren't connected to anything like with Steem, where value is at least in part derived from interaction with the platform.
That could be a nitpicking distinction.
The reality of the way blockchains are operating now is far closer to the operation of a ponzi scheme than anything else (regardless of steem), consider, anyone could create a block chain. They convince others to invest, which gives the blockchain SOME value, and the increase in value only comes in from increasing people being convinced to invest so that they gain value in the coin from future investors. Whether that be investment of time, machinery or funding into the crypto 'markets'.
"The reality of the way blockchains are operating now is far closer to the operation of a ponzi scheme than anything else"
That is exactly right! Just like a ponzi scheme, once the platform (Steemit, Whaleshares, or any similar blockchain based forum platform), runs out of new "naive" people to invest in the scheme, the whole thing comes tumbling down, and when that happens, those invested in the scheme at that time, lose everything. This is exactly what is happening with Steemit right now. It's just a matter of time before the platform either shuts down (or is shut down). All anyone need do is check the accounts of Steemit's largest "investors" and it can easily be seen that most of them, if not all, are in power-down mode. Clearly they know hat the end is not far off, and want to get their money out asap...albeit money of which a big percentage of it was stolen from Steemit naive members pool.
"They will be hit with a class action lawsuit if they do."
First of all, no one has enough Steem value to start a class-action lawsuit against a giant such as Binance. They would likely go broke before they would ever see a dime from such a lawsuit even if they had the potential of winning. And even if they won, they would likely never receive enough to cover all their legal expenses, let alone anything else. And secondly, the whole cryptocurrency industry is still seen as being rather shady, so it would be very unlikely that a Court would grant class-action status to a such a claim in the first place. Obtaining a judge that even understands the crypto industry would not be an easy task.
I am told this is ongoing presently.
Even Blocktrades, hehe.
That's a funny typo. :)
I think I will eave the typo there. My proof reading skills are like my spelling skills not really up to par.
Please do so. It's a fantastic typo. Love it!
What they did, the powering up of the Steem, is illegal.
"What they did, the powering up of the Steem, is illegal."
Says who? I'm sure their lawyers are prepared to argue that point with you.
So, you are pro-theft?
"So, you are pro-theft?"
Not at all! On the contrary! I am very much against theft which is why I want to see the removal of most if not all Steemit Witnesses. They are the real thieves here, who for years have stolen from the vast majority of Steemit members in order to fill their own greedy pockets. Remove Steemit witnesses, and Steemit will be a far better place, not the cesspool of fraud and corruption that it has now become.
I am confident this is ongoing presently.
I am very, very glad this is publicly available. Kudos to @ausbitbank for making that possible, and to you for making me aware of it.
Thanks!
Finished listening. Ya'll are gonna have to do your due diligence here. @justinsunsteemit has alleged @ned did not inform him as to restrictions Stinc put on the Stinc stake. That will be apparent in the sale documents.
As ya'll pointed out, the exchanges seizing their customers's funds and using them to vote bears consequences, and aren't easily dispelled. I suggest the exchanges also effect the non-voting code you have suggested Tron apply to their stake. @justinsunsteemit did effect seizure of governance of the blockchain. Regardless of what he says, that is what he did. If he subsequently does apply that code to his accounts, in addition to the exchanges also doing so, that will prevent this security lapse in the future.
It is with extreme pleasure that I note the community has voted enough witnesses into consensus positions that no HF allowing the immediate power down of the funds the exchanges powered up.
I would be sure to consider what he has done as indicative of his intentions from here on out. His allegations seem poorly to conform to his actions so far. It is also apparent that he has little interest in deploying that founder's stake as it is obligated to be. It may be necessary to seek legal enforcement of the assurances Stinc made regarding that deployment to ensure Tron does meet the obligations that stake came with.
Next time you meet with Tron, you should be represented by counsel. I, again, would be happy to provide competent counsel, in this matter for a nominal fee, such as CZ received for his services stealing Binance's customer's funds. I recall a figure of 1.5M Steem. Lemme know if I can be of help.
I'm happy to be competent counsel on this for free. Just sign up for the Crypto Class Action and get Steemit Inc to also sign up and lets make it a win-win for everyone.
Hmm.. Free vs 1.5 Million STEEM. I'll get out my calculator :)
=)
I should point out I failed to add the appropriate /sarc tag to my comment. IANAL. Not gonna joke about that any more.
I certainly read the /sarc
I am presently certain that Stinc and investors are not aligned as to their interests in the matter at hand, and the Crypto Class Action you cite is a separate matter.
Happy you are on it, but it's not this particular cause of action. Also, IANAL, and my offer to get paid to provide counsel was a joke. I have no interest in 1.5M Steem.
Justin is a liar
His statements do not always conform to his actions.
That's Right
Thanks for this. I think it is important for the community to be aware of the facts and of conversations like this. All communication is useful.
He said he will make money out of it and exit -> Pump and Dump!
Exactly what I predicted from the instant I heard about the "aquisition." To the word.
Justin is a Rat
Just listened to the recording...somebody needs to get some lawyers involved. The whole Tron team and the exchanges are nothing but thugs. Criminals. Folks need prison time for this.
Agreed. I never really liked their attitude. I never liked Tron. I always had a funny feeling concerning how Tron works. Not that I'm not optimistic. I try to be open minded.
Be interesting to see if financial laws can be used against them but that's such a grey area it seems (Binance is based in Malta and Huobi in Singapore so not sure what the regs are)
Binance.us is a US corporation.
The only problem with calling for financial regulators to look at this, as I see it, is the possiblity that they take one look at the entire Steem platform with relatively large amounts of value flowing all through it, and demand KYC or shut the thing down.
Justin and out. ☺️
It's like they're always saying one thing but doing another in the background.
True. The art of deception is that way.
Thanks for sharing this.
I'll check this video when i'm back home from work.
Thanks for sharing this.
I'll check this video when
I'm back home from work.
- bartheek
I'm a bot. I detect haiku.
typical Sun move, same lack of due diligence happened with DLIVE. that will bite them in the ass too.
anyways, thanks for the recording and TLDR!
"The TRON team claimed their aim is to profit from the purchase, rather than to participate in governance." This seems like good news to me.
Postscript: A potential win-win way forward
My standard byline below could provide a win-win way forward for Justin Sun and the Steem community.
Just as Steemit Inc came with pre-existing obligations to the community regarding the ninja-mined stake that Justin didn't know about, it also came with a ~$400M legal claim against Facebook and Google for banning Steem advertising, which he also didn't know about.
This legal claim is worth far more than the ninja mined stake and is more than enough compensation for what Justin feels he has lost.
Rather than spending his money trying to take over the Steem blockchain, Justin can sign Steemit Inc up for @jpbliberty's crypto class action and participate in the funding of it. It needs less money ($US 2-3M in total) than he has already spent on Steem and has a huge ROI for his Steemit Inc claim alone.
If Justin supports this, it is a huge win for the Steem community also because every Steemian has a claim in this class action based Steem being worth $6.14 when the Ad Ban was announced and being very directly affected by the ad ban. We have great evidence of this from Steem posts.
We are well advanced with a law firm, top barristers, initial funding and US$350M in claimants signed up.
Signup for the Crypto Class Action against Facebook & Google's Crypto Ad Ban
Yes Yes, Picard Said, make it so.
This is a really good idea actually.
Can you post the pre-existing obligation legal doccuments Steemit inc had with the community?
How can there be a debate on this issue without the legal facts?
Steemit inc was worth a least 12 million dollars, surely there are legal documents showing the commitment Steemit inc had to the steem comunity.
https://steempeak.com/ninjamine/@apshamilton/evidence-of-steemit-inc-making-representations-about-use-of-ninja-mined-stake
OK , "gradual divestment" , "development and promotion"
One can easily argue that there has been a gradual divestment , neds stake sits today a 17% of all steem from 41% . The remaining 17% was sold to sun , who is more then capable of development and promotion of steem and its divestment. Sun wasnt even given an opportunity to show how he would use this stake. Also the exchanges involvement is still not even clear and is a separate legal debate. Ned and steemit inc commitment to the community is wide open for interpretation . Now if it isnt written , it isnt true.
I am absolutely shook'd that @ned was a scum bag for a change.
It is very important to consider that we do not know what Justin / Tron know because of the NDA.
I think you need to clarify something with your opening statement:
"Justin Claims"
Some assume Justin is telling the truth here.
However, he may have received full disclosure and made a decision that the 'informal contract' was superseded by the sale.
We also need to be aware that there is a dispute about the meaning of 'due diligence' but Tron claims to have done due diligence.
I think before providing Justin with any information, he needs to back up his statement that Ned failed to reveal this to him. The mention of an NDA means this is a legal issue. Is there actually an NDA? What information cannot be revealed, what is the timeline. Before promising anything, lawyers will be required.
The evidence in questions is all over the blockchain and in videos, spanning years, so it's already public for the most part. Whether or not the evidence amounts to evidence of contractual obligation seems to depend on some factors relating to the sale which I haven't seen yet. I'm not really assuming that anyone is telling the truth tbh.
Since that evidence is plentifully available, and @justinsunsteemit is an accredited investor, it's unreasonable to assume this information was unknown to him, and further that it is irrelevant if it was.
As an accredited investor, he bears full responsibility for due diligence when undertaking authority for his investment decisions.
His actions do give the appearance of him knowing the nature of his actions in advance and trying to just push people around. On the other hand, I find it difficult to relate to someone thinking that such an action would be successful. One thing is for sure, it's a learning opportunity for all involved.
Sadly, I am aware of a long and varied history of people doing unethical and illegal things, but cleverly profiting from them. JP Morgan has repeatedly been caught manipulating the PMs market and paid huge fines. Monsanto allowed it's patented crops to pollinate neighboring farmer's fields - and then sued the farmers for growing their patented crops and seized their farms.
This seems like the kinda thing Sun is doing.
Does anybody here trust Justin Bieber Sun?
Did Ned just pull a fast one on Justin? Justin really should have done his homework regarding Steem and DPOS blockchains in general.
The sad part is that those exchanges were dragged into this scandal that could have been avoided by proper full disclosure of information between the parties in the transaction.
But powering up clients' Steem tokens to help out Justin is definitely not good business practice on the part of those exchanges. And Justin should have really done his research regarding Steemit Inc. the Steem blockchain and the Steem roadmap documents before acquiring it for a quick flip and profit.
@48:25 of recording - NDA is mentioned.
Non-disclosure agreement.
It's very possible that Justin and Roy know exactly what they purchased but are playing like they are unaware of the promises made to the community and it is part of the NDA they entered in with Ned. That is my read on the situation.
Nah shit, millions of dollars and teams of lawyers say "deal with it"
You’re a fucking phony @steemservices!!!!
He did make a reasonable comment though.
Very enlightening. Thanks to you and @ausbitbank for making this available. Seems that there was bad faith in a number of areas. Lots of damage done all round. Hope it can be resolved to achieve the win-win suggested.
Hi there,
didn't he say during the call/meeting that his "witnesses" started fixing the pricing feed issue as they speak?
He lies even about these simple (but still important) things. Nothing changed in the pricing feed during the last two days.
He doesn't give a shit (anymore) now that he knows Ned sold him something else than he was told.
A very stupid businessman who does not check what he was told before paying for a company.
But thanks a lot for bringing the conversation online. It was interesting to listen - especially to Sun ... you could really "read between the lines" the difference of what he was saying and he was thinking.
I am curious how he will keep the promise to the exchanges that the funds will be available within some days again. At least I assume he must have made such a promise to get the resources.
STEEM ON!!!
(and don't trust the words of a cornered person)
Thanks for this.
So he basically keeps buying time with meeting promises and now with actual meetings while strikes back...
What a soap opera ;)
And Ned is "gone"....yeah right...
So now what? Justin is going to do what he wants. What are the witnesses going to do to stop it? More talks are unnecessary. Justin made his intentions clear and thats going to destroy the trust and integrity of the blockchain.
I liked the part Jian Yang said " I am business man I'm not want to be interfere with governance I want the profit" 😂 yeah fuck yes!!!
Meanwhile
Positions wanted apply within...
We will see how instrumental all our steem resignations are.. I'm going to go out on a limb and say the small team that had extremely questionable results is not irreplaceable..
Logic says work with Justin to create a profitable enterprise for all, I know, I know, that means some of the "volunteer" witnesses might actually have to clock in and work instead of pretending to do shut but, welcome to the real world!
Jian Yang doesn't care about your decentralized fantasy he want the profit and if you get in the way I assure you that you will be displaced..
Justin dodged the question about why exchanges would receive a reduced power down time. The question was asked and Justin jumps in and doesn't provide a direct answer. Sketchy!
@followbtcnews Thank you for jumping in and nailing him on this, explaining the exchange power down feature is purely to give users their money back, WHICH SHOULDN'T HAVE BEEN LOCKED UP IN THE FIRST PLACE.
It's become very clear to me that part of Justin's deal with exchanges to power up and vote his new witnesses was to implement a fork so that they could power back down. THAT HAS BACK FIRED! Now that enough OG witnesses are back in top 20 to block a fork, exchanges and unfortunately their users are out of luck on this one..
Wasn't the preliminary meeting to be held on March 4? So when was this one that is taped agreed on?
Hi @ura-soul!
Your post was upvoted by @steem-ua, new Steem dApp, using UserAuthority for algorithmic post curation!
Your UA account score is currently 6.471 which ranks you at #94 across all Steem accounts.
Your rank has dropped 21 places in the last three days (old rank 73).
In our last Algorithmic Curation Round, consisting of 76 contributions, your post is ranked at #2. Congratulations!
Evaluation of your UA score:
Feel free to join our @steem-ua Discord server
so he admitted that he is scammed and hence acknowledging that the stake is owned by the community! hence any legal persecution should be between ned and @justinsunsteemit, as ned was wrong to sell a stake he does not own... if justin were to sell the stake and ran off with it, then it would be theft as justin knows the stake is not owned by him...
also i never knew @followbtcnews had such a strong alabama accent...
I love Alabama.. Roll Tide !!
He requested evidence, so has not explicitly agreed to having been scammed at this point.
Steemians sounded like a bunch of crazy communists from the beginning of the Revolution.
Sun purchased - deal with it.
Normal people believe in private property rights
Let's say someone sells you a car, and the police confiscates it because it's stolen. Do you then hijack the police force by bribing?
That's pretty much the analogy here.
Yes, there is the analogy, but the wrong one.
This is more like, you pick up a girl, you tell her how special she is, how much you love her... You fcuk her a couple of times and you dump her.
She accuses you for raping and screams MeeTooo!!!!
You appear to be denying the fine points here - when you have assessed all the details without bias you will have a more nuanced understanding and relevant comment.
Steem, Marketcap, 60 M
Tron, Marketcap, 1100 M
EOS, Marketcap, 3300 M
Ned / Steem leaders = Stupid
Sun/ TRON = Smart
Dan, EOS = The Smartest one
Let's clarify one point - Justin claims Ned never disclosed any encumbrances against that ninja mined stake. The only way we would have absolute proof is to see the Representations and Warranties Ned signed off on from the Purchase Agreement to know the absolute truth of it.
I actually support Justin's claim to use his stake as he sees fit. What we need to do is change governance so that stake wouldn't get him super majority if he or anyone else with a large stake decided to use it for voting.
my totally unimportant view of this. we could make a sister chain or he could sign a contract. if he really does not want to be the ruler of the chain he will not have a problem with it. contract that he will not use his stake for voting or witness manipulation. That he will continue development of steem for x time and finish SMT. apology for calling as all Hackers. No more crazy talk about steem coin swap and migration. Also their plan of development. All signed and checked by the lawyers. That would be a hard fork with no hard forks. Thik this would be ok from both sides.
Also important thing. talking to ex steemit employers. Do they want to work with steemit on development. they know the chanin the best.
As for exchanges, i don't know, i would like to see them sweat for a bit, but i think part of that pushing the meeting early was the pressure from exchanges.
Do you know what the key features are of the rogue 0.22.5 version?
It's all about making money, that's it. Looks like he's not going to profit for this investment or is he?
@ned failed to disclose to @justinsunsteemit that the Ninja mined stake had been earmarked for community development and was not to be used for witness voting prior to selling it to him.
ouch
We must not trust them, he is talking sbout money and 5 hours later he votes for his witnesses
Talk is cheap, I will trust what they said after I see them off the top 20. Followbtcnews said it best, conversations should only resume after they comply with what was promised in this meeting! No point in talking further if no actions are taken, just a big waste of time. They proved they're not trustworthy, if they wanted to set the record clean they have to remove the witness votes and retract what was said on twitter about the consensus witnesses.
Thx for sharing this meetup, I am proud of our witnesses now :) The more I hear from Justin, the more I think he is a liar and scammer now, first wanted to migrate everything to Tron, now changing the whole narrative, saying just wanted to make money, and now wants to exit and sell all of Steemit Incs stake asap, this guy seems like a liar, also considering how he misused his power and friends at exchanges.
Ned not only made his Twitter private, he deleted his tweets likely trying to protect himself from legal action, fortunately most of them have been archived and are available via a subpoena.
bullshit
Don't like themarkymark either? This bot downvotes everything themarkymark posts. Help by delegating:
5 | 10 | 20 | 50 | 100 | 500 | 1000
Unvote themarkymark for witness here
"I've never seen anyone leave such a long trail of blazing dumpster fires. I now believe the wreckless downvoting and blacklisting of thousands of accounts by themarkymark et al is the SOLE reason the price of Steem continues to fall. I didn't even make the photo for this post. That's right, I found it online. Fucking amazing."
Look at all these complaints from people all over the Internet
Most of these are written OFF of Steemit so as to avoid being downvoted and hidden. Amazing. So much for this "censorship-free blockchain".
themarkymark Hey. Sorry about your shit coin...
Groups of people and a top witness (themarkymark) are trying to dive me off of steem/steemit by harassing me
Getting blacklisted (by themarkymark) becomes expensive on Steem
themarkymark & Berniesanders Responsible For Altcoin Collapse?
Is TheMarkyMark Abusing The Steemit Blockchain?
https://m.youtube.com/watch?v=3gnH8lxxFQM
Listen as themarkymark evades questions about his identity and gives up his real motives
The Arrogant "themarkymark"
Dedicated to that unknown mystery douche: themarkymark
@themarkymark Stole Thousands Of $$ From Me
My Letter to @themarkymark - in response to his continual flagging of my account
Harassment and Censorship by themarkymark continues. Now flagging everything I post for no reason
Crooket @themarkymark
@themarkymark, another fake account that flags without reason, like the berniesanders whales circle jerk
Another example of censorhsip on steemit. Witness (themarkymark) downvotes truth about his actions.
Big Thanks For ThemarkyMark, Anyx, Patrice and Others Who Helped Ruin Steemit
Open letter to those who provide Red Flag with downvotes
My Post About Asian Countries Being the Largest Ocean Polluters Was Downvoted By Badcontent. WHY?
I Got Downvoted!?! It's Not Fair! Can You Help Me???
More THIEVES (themarkymark) on Steem Blockchain? Be careful with bidbots...
Clone this protest bot
The bastards.
thanks for the uodate. It is appreciated to be kept in the loop..
Trendo projects will stand with human witnesses & with the community.
Thank you for the summary
$trdo
Congratulations @trendo.marketing, you successfuly trended the post shared by @ura-soul!
@ura-soul will receive 25.21887413 TRDO & @trendo.marketing will get 16.81258275 TRDO curation in 3 Days from Post Created Date!
"Call TRDO, Your Comment Worth Something!"
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site
@ura-soul , had no idea of "Eureka", sounds more my vibe. Guess birds of a feather flock together and although I've only been doing this as a hobby and distanced after seeing what I felt was very uncool moves..........namely the DLIVE sell out I ceased being as involved as I had been at one time.
Well anyhow, gonna check out Eureka,
axey
Great, ok! Ureka runs the STEEM blockchain too - though it may not be so stable due to the problems with STEEM at the moment. Ureka has no budget at all, so it's far from where it could be. I made it to support a book I am writing actually, but life distracted me hugely and I haven't yet published it. You will find a wide variety of useful information in there though. <3
I checked it out briefly and it looks way more what I'm into. I have communities I made for fun , no clue if those are gonna be borked either but have my nearly three years of work backed up thank God. Anyhow, the layout is tight and the tshirts are very cool. the subject matter is really what I want out of an ecosystem not whatever is going on now. Thanks
axey
I listened to the recording. Mr. Sun was very evasive on the important questions but holding him hostage has created huge mistrust.
Calling the version being run .444 is childish and mean. Saying you won’t even meet again until demands are met is not helpful.
Some of our witnesses in the meeting were tactful and held out olive branches. They did great. Others threw fuel on the fire. Not smart.
I’m hopeful but some need to take a deep breath, calm down and be more diplomatic.
There are many thousands of people being represented by the witnesses and many viewpoints and feelings - so it is understandable that the responses from them would be mixed. For me, it's interesting to be able to see a combined expression from a group instead of a, perhaps rehearsed or forced, impression being given by a single individual. I'd say he saw the reflection of his own actions.
Interesting for sure.
He was the same right from the beginning. I really don't understand people that were expecting anything good from him, like getting involved in development and investing in Steem. It was crystal clear that he bought to trade. The whole thing became a nightmare when the funds got frozen and he had to ask for help from the exchanges to get control over them again. It was a buy the rumor sell the news strategy right from the beginning and I said that multiple times on my blog as well. The reality though is that both of them are low character human beings, Ned and Sun. The first one was a bit more clever I guess in negotiations...
You really don’t understand what steemit is to Tron. Trons building an eco system so everything will be under one roof. Dlive for streaming, vibravid similar to YouTube, BitTorrent for file sharing and storage and now steemit for social media. Steemit wouldn’t just be flipped and sold off to make money. It will make Justin money by evolving, more users and growing the platform. This is where the money is. This is why the Tron community is exciting about this.
I guess you don't understand that. Listen to the conference that ha had with the witnesses and see what he confessed and what he actually bought Steemit for. It was clearly a pump and dump action, or buy the rumor sell the news.
Like I said I don’t really know what’s going on because I’m too new but I saw the video and it sounded like Justin had enough with everything that has happened and was ready to sell up and get his investment back.
Agree 100% on the childish .4444 shit - apart from that I am proud about the community and especially that we finally get some support from big guys of other blockchains.
sorry i (genuinely) don’t get what is childish about the number?
I know there’s some ties to death or the devil in numerology but that’s about it...
oh well - forgive me as a German I should stay away - but it is racism in my view (or could be seen as it - at least it is attacking via childish shit) to use such numbers that offend anyone in the Chinese World
I have seen language calling Steemit employee a "monkey" and to vote for a "human," in addition to cries of "Chinese communism" from multiple witnesses. These statements are dog-whistles for ignorant xenophobia and racism.
4 is very unlucky in China, it’s associated with death.
Although not a witness myself, and I can't speak for any, but I believe the symbolism is not lost on the witnesses, nor is it meant as a racist attack.
Rather, it is a protest meant to convey that the witnesses see the path taken by the Tron in using misappropriated customers funds to centralize the network (most likely a bunch of sock puppets running on a single node) as a sort of death of legitimate Steem governance. Apparently the core Steem developers and communications director agreed, as they resigned over it.
Hopefully it is a 'death' from which Steem can recover. We shall see.
Either way I would not overly fixate on the symbolism. The message of disapproval and protest being conveyed is more important.
thanks for the info :)
Cut and paste from google
{The angel number 4444 signifies hard work. It's telling you that all your hard work will soon be paying off. ... If that major achievement is still a work in progress, the angel number 4444 wants you to work harder than ever to make it happen. You have done so much work already to just give up now.}
I'm sticking with this........ for now :)
edit: agree with your summing up
When I saw the 4, my brain associated it with the sport of golf. People yell, "Fore!" It means, "Get out of the way!"
I'm certain the version number could have been 22.9369 and folks would have found ways to find hidden meanings.
Why don't we just go full on mainstream politically correct and get rid of the 22 as well. Like. OMG! Two plus two equals four! Burn the witch!
The year 2024 has been cancelled and the month of April is now banned.
lols. I seem to be allergic to number 7. When they get near me i tend to move house, change wives and even change jobs! Numbers like 777, makes me faint just looking at it. Scares me almost to death it does. :)
oh thanks for popping up. need to get around to reading your blogs. seem to have misplaced everyone... somewhere
I came here and it said you wrote that comment 7 minutes ago. I hope you're okay.
You haven't missed much in the blog department. It didn't seem right to attempt my usual brand while so much was going on. Today I tried out a comedy skit and it seems the community isn't quite ready to start laughing again. Things seem quiet.
That's sad but not surprising
I never like tron. I now boycott those three exchanges and will tell everyone elses to do the same. BDS china in fact, conmen dog eaters will eat you snowflakes, just watch. I require us to get medieval on them. Now is the time ...use a virus or something, just kill the crypto mafia once and for all.
It would take minutes to do that. Since they haven’t done so, they’re either lying or clueless about what asap means.
Our witnesses would have to be naïve to let the TRON team implement a fork.
“There’s an old saying in Tennessee — I know it’s in Texas, probably in Tennessee — that says, fool me once, shame on — shame on you. Fool me — you can’t get fooled again..” ― George W. Bush
Ned needs to learn how to spell lying.
Yes, that was too painful to read. It might give me nightmares. My nose was bleeding from all the jargon in the comments above but Ned's tweet was cringeworthy, gave me goosebumps.
Deep
Thanks for posting this @ura-soul.
There are a lot of lines to read between, here...
Seems increasingly obvious that Ned probably disclosed as little as possible about Steemit, Inc. and its promises and obligations in hopes of securing the most lucrative exit he possibly could. How close he has gotten to fraud we may never know... but if you sell a "beautiful house" and don't disclose the massive crack in the foundation, you may end up with your ass in a sling. Unless, of course, you managed to secure an "as is" deal with no reclamation rights...
Justin sounds like someone who's akin to a "house flipper" who's so used to doing his "usual thing" that he got careless about reading the fine print and interpreting it properly. If you've flipped 50 modern tract houses for a profit... and just assume you can do the same with a historical building, YOU (the house flipper) are kind of an idiot. I think Justin had pretty much ZERO clue as to what a blockchain with consensus witnesses and an active community is. But then... Steem is a pretty unique beast in the blockchain space.
I do believe he's completely sincere in the statement "I just wanna make money!" His intentions may have been as simple as "buy Steemit, throw a few $ million at developing features and social marketing, make it all a big deal, watch Steem rise from 15 cents to $5.00, sell out and pocket a couple of hundred million dollars.
"Money people" tend to think like that, and have very little time for the "complications" of dealing with the human factor, except in terms of how it helps them make money.
At the moment he just seems to be backpedaling a lot, and stalling for time... no doubt pondering whether or how he can come up with enough Steem to displace the 7 consensus witnesses that have made their way to the top.
On the UPSIDE of all this mess, the community at large has learned about the importance of voting for witnesses...
You are welcome. As far as Justin goes - it is clear that he uses denial as a tactic, which means he is what we call a 'known liar'.
https://cryptocoin.news/news/justin-sun-founder-of-tron-acquires-poloniex-32044/
So, while 'business' people might just consider this 'the art of the deal' - anyone with a brain must realise quickly that whatever he says must be 'taken with a pinch of salt'.
This. ^^^^ This is what I have predicted from the very beginning. Thank you for articulating it better than I've been able to, @denmarkguy
I'm not surprised.
Justin: You guys are hackers!
Ned: You guys are thieves!
Justin and Ned together: "our hard earned money!"
haha.. distraction only works when people are unconscious and in denial.
Ned starts sweating seeing the lawsuit coming his way
SteemVPN supports your decision and v0.22.4444. We have stopped accepting payments in Tron for our VPN service.
Understanding the information the Tron team and Justin Sun received from Ned was the main thing I wanted to get out of that meeting, as it helps us understand so much more of the situation they're in.
Glad they've now given that answer as a reference. Whether or not it is true.
Ned is also helping:
@ 8:30 on the first video.
This individual is sadly mistaken!
We have a centralized group that makes the decisions on this platform. To deny this is ludicrous. At least he made me laugh. Do you suppose he actually believes what he is saying?
@21:50 the speaker claims that promises were made. This is clearly false, Ned couched it as a plan and as circumstances changed so did his plans!
I have also listened to people making claims about documentation of promises but they are nowhere to be found. The only docs I have seen posted are stated plans not promises.
Edit
The more i listen the less respect I have for some of the witnesses. This is a ridiculous conversation.
Thanks for posting this update. Helps clarify things for sure
I just hope that Steemit will be okay in the future. indeed remembering the past is very bitter to remember. all active human beings have to wait for this steemit to remain like a social medium for expressing space.
Where are SMTs in all this? This is the last month of early 2020.
Truely, when two elephants fight, the grass suffers. SMTs should be a silver lining in this cloud of uncertainty, because it is a chance for STEEM to set the pace in the crypto world and beyond.
Investors are watching.
SteemVPN supports v0.22.4444
Was he always an ass or did he just became one?
This is sad.
BOI listened to it and it doesn't sound good. From what I see - they still haven't updated the price feed. It's a war out there and it's best for us to stay together!
I also wrote a post about the latest events. BOI would appreciate you taking a look.
Steem on, my friends!
LOL @ Ned.
If justin had been more transparent with the community throughout the acquisition or during the AMA, the freeze wouldn't have been necessary. The duly elected witnesses, on behalf of the community, made a democratic decision to temporarily lock the funds until he could provide clarity of what his intentions were.
Then, in complete totalitarian fashion, and neglecting tens of thousands of Steem voters, he used his contacts at Binance and Huobi to do a hostile takeover of the chain. This action goes completely against the principals of decentralization and does indeed prove that Justin is a businessman who cares more about his money and ego than the ethics behind community run blockchains.
Thx you
@ura-soul do you know who didn’t mute their slack in the video? I wanted to watch it but OMG I was going crazy like a few minutes in due to a new slack notification sound every 2 seconds 🙈
Congratulations @ura-soul!
Your post was mentioned in the Steem Hit Parade in the following categories:
Thanks for the heads up on the fight.
Posted using Partiko Android
Ned can't spell lying?
Justin sun should keep steem separate from tron and improve both chains..It's a win-win for both the steem community and his investment, but his pride with tron won't let him do it
Posted using Partiko iOS
I didn't believe I think it is a lie
You all are doing a great job. Keep up the negotiations.
Congratulations @ura-soul, your post successfully recieved 25.21887413 TRDO from below listed TRENDO callers:
To view or trade TRDO go to steem-engine.com
Join TRDO Discord Channel or Join TRDO Web Site
Do they even realize that a huge number of people are going to FUD off if they actually change power down to 3 days?
I swear they did no research and have no understanding of what they bought.