if someone holds 10% of the tokens and does not vote, that's a gift to the community.
Satoshi once said on the bitcointalk forum - every lost coin is the charity done to everyone on the network. I loosely quoted him.
Is this situation something similar? A person holding 10% of the supply is not using those coins at all. So it's like a donation to everyone else on the network.
My only concern is any one person having too much power to put the ecosystem at risk.
Is this what happened with STEEM?
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Yes
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How are we ensuring that the same thing doesn't happen on Hive?
Are there any systems or checks in place? Or are we relying on the community members to be fair?
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There have been a few things that have been done to prevent it.
First there is no longer a entity with access to the Ninja Mine.
There is a 30 day delay on new Hive Power from voting so we have a warning if exchanges try to power up.
No one person even if exchanges colluded have enough stake to take over the chain
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