Direct from the desk of Dane Williams.
Justin Sun STEEM Theft
For those of you following the Justin Sun STEEM saga, you'd have no doubt seen that the funds he was trying to steal were instantly stolen back and sent to Bittrex exchange.
Bittrex have been a great supporter of the HIVE community and were seen an a fair, neutral party that would do the right thing by not supporting the straight up theft by Justin Sun who now has total control over the STEEM network.
Frustratingly, Bittrex have hinted that they don't want to be involved and are simply going to send the coins back to Justin Sun, but we'll have to see how it all plays out.
Bittrex Dragged Deeper Into the Saga
I've made the full transition from STEEM to HIVE, but that 13 week power-down is a slow grind.
Even slower when every week there's some new type of censorship or straight up theft going on with the platform (it's not a blockchain anymore, STEEM is a centralised platform).
Most of us are in crypto to remain in control of our financial freedom but post Justin Sun, we can see that our assets are no longer safe in a STEEM wallet.
Once the price of HIVE completely disconnected from STEEM, I had been using Bittrex to get my money completely out and into BTC.
But with Bittrex now being dragged into what will no doubt become a legal trap, they've flicked their STEEM wallet to currency maintenance.
"Maintenance", my arse.
STEEM Wallet Currency Maintenance
This is where things really grind my gears.
When it comes to dealing with a centralised company such as an exchange, nothing is honest or in the best interests of the people.
The Bittrex STEEM wallet is not undergoing maintenance.
It's been turned off to protect them from the US legal system and Justin Sun, who will both no doubt be turning their attention to what is happening with those stolen funds.
If you read Bittrex's embarrassingly poor response about 'respecting the sanctity of blockchain consensus', you'll soon realise that nobody is going to do the right thing by you, except yourself.
At least be honest about it.
Don't say that the wallet is under maintenance, just be honest with the people that pay the fees required to use your exchange.
Best of probabilities to you,
Dane.
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Posted Using LeoFinance
Ionomy is not accepting any steem either.
I don't see the awesomeness of a four week power down if there is no way to take your $$$ out.
I planned on keeping most of my money invested in the blockchain, purposely, but not it seems that it is invested because there is no way to pull it out.
You can use hive-engine or steem-engine
to exchange steem.
A little cumbersome but doable.
Posted Using LeoFinance
Get your money out in any way possible, as soon as you can.
The thing is an absolute sinking ship.
Yeah, I’m going to have to use these to get out of STEEM.
Doesn’t make what the big exchanges are doing, right though.
Posted Using LeoFinance
I feel like the orchestra in the titanic. lol.
Thanks for the advice.
Hei man, the Steem powerdown was changed to 4 weeks with the latest HF. Just cancel the existing powerdown and restart it.
Here's an update from @kingscrown on Binance:
https://peakd.com/steem/@kingscrown/binance-update-on-steem-fork
Also, if you want to get out of Steem fast, deposit your liquid Steem into Steem-engine, buy HIVEP with it, and withdraw that HIVEP to forexbrokr account. You might get hit a bit harder (less HIVEP), but who is to say the price of now shitcoin STEEM won't depreciate even faster now.
Yeah, back to Steem/Hive-Engine for this swap.
Anyone would be mad to trust Binance after helping Sun attack STEEM in the first place. I just naively thought Bittrex would do the right thing.
Nope.
Posted Using LeoFinance