My Response To The TRON Foundation and Steem Witness Meeting 3/6/20

in DTubelast year (edited)

Well, well, well. I was pretty sure that I was just going to move on and not give any more time toward the debacle between Justin Sun/Tron Foundation and the ex top 20 witnesses. I even talked with Stacie D about not saying anything, but after listening to that meeting from yesterday it is either I make a video or I talk her ear off. She voted for the video haha.

I would like to continue to say that I am straight down the middle on all of this. I have some opinions about what I would like, but I haven't actually stated any of that yet.

I have said that I am not simply pro Justin, but I am also anti the ex top 20. Whether you read it here or watch it in a video I openly say that they do not represent me...especially after listening to how most of them handled themselves in that meeting.

I want to make sure to throw out those disclaimers like *vote for Steem witnesses, just not them" haha. I am excited about the fact that something is happening, but I think that from the Steem side it is being mishandled.

So my couple of thoughts.

Roy, I think Roy didn't even flinch. You can tell that he is conditioned to handle complicated situations, and emotional people. I still don't know much about the Tron Foundation, and I can only respond to how I am seeing them act. I still don't agree with the unprofessional language in the post the other day, but today I am only talking about the meeting.

The Witnesses. They are not a united front, and clearly do not have a road map. They are acting very near sighted, and their stated demands were sort of all over the place. They maybe agreed on 3 or 4 things they wanted, but it was kind of like watching US Congress. Where they try to introduce a bill, but each congressman wants to add or take away something. So they are still very much needing to get on the same page before they can even have a reasonable negotiation.

I have said this before, but I don't think that this is going the direction that everyone thinks it is. If I were a betting man, this is what I would bet....

I bet that Justin already has the hardfork code ready (which Roy spoke about and offered to share it with the witnesses), and I think that he is "playing nice". I think that he is fully prepared to move forward, and he is just wanting to see who is on board. I think that some witnesses will agree to go along with him, while others don't.

I think that the hardfork will go through and the improvements will be made. After that I think that he will sell whatever amount he needs to to get his return on investment, and then we won't hear from Justin anymore. From then on it will just be a representative of Steemit Inc.

I think that the governance will be fully given back to the people, and I think that the whoever ends up in the top 20 are going to be the ones that go along with the hardfork. I think that the others will actually fork and create a sister chain. I think there will be an uncivil divide in the communities, and people acting hateful to each other, and then it will all smooth out and everyone will get to follow the choices they want to.

So that's what I bet. I'm watching this from the outside, and do not have any actual inside information to any of this. I can only respond to what I see, and I think I have seen every bit of available information. I also know enough about blockchain tech to know what is going on. I also know enough about people to know that not everyone cares about the decentralized aspect of blockchain tech.

I am in no way saying that I speak for anyone else, but I will say that it has been clearly communicated to me that this is a shared feeling and there are witnesses that are ready to run the 0.22.5 and move forward.

So these are the rambling thoughts of a man in the wild. Just opinions, no need to further shoot the messenger. I think it is important that everyone has a voice, and has a right to use it. If someone does not agree with me I understand, but I'm not selling anything here haha....Just watching.

Be well
~The Yeti

Join me on Discord

▶️ DTube
▶️ YouTube

Lets work on the exchanges issue first.
Like you said that's the ONE thing Justin wants, a quick powerdown.
Because what the exchanges did and are continuing to do is ILLEGAL, they are using our steem against us and the world is watching.

His clients, Justin and the exchanges are stuck. They can't get OUR steem back out without doing a hard forked powerdown, or waiting. And it looks like the hard fork is NOT TECHNICALLY POSSIBLE within two months.

So if we can hold the line on the 13 or 4 week powerdown.
We can put pressure on them and profit at the same time.

We can force the exchanges to buy the steem they need from the open market or Justin.


Love steem

So if we can hold the line on the 13 or 4 week powerdown.

This is the entire conversation, I don't understand why there is anything else.
All the pressure is from the exchanges because of their monumental (and very possibly illegal)fuck up.
If they'd powered down immediately, they would have nearly 8% of their stake already back in the exchanges around now.

What a group of idiots.

I think there is more to this. I dont think thos is just about exchanges...we'll see

I think 95% of it is precisely the exchanges - as they've fucked up monumentally, and are now pressuring - big time - to resolve it.
This could destroy the credibility of them.

I think that's caused by using 20 engineers to negotiate one business deal.
They see and try fix too many things at once.

Problem: I need to make the building stand up against gravity.
Answer: Stronger walls.
SubAnswer1: Don't forget about wind.
SubAnswer2: Earthquakes, ya gotta factor in earthquakes.
SubAnswer3: Snow, sometimes it snows, gotta factor snow load.
SubAnswer4: Flooding, I know it's not directly related to the goal but it is a factor.
SubAnswer5: With all this added structure we need to make the walls stronger.
SubAnswer6: And so on..

As far as the exchanges and legality. I can't see how freezing (withdrawals suspended) customer funds so you can use those funds to directly vote AGINST said customers to execute a hostile takeover of his asset (Blockchain) could be legal.

The legality is very dubious, if not downright illegal, I recon.
Which is the reason they want out ASAP.
If I was comparing this to game of no texas hold 'em, Steem have quads and tron is trying to bluff with 2 pairs.
And this with a time limit on the rounds.

I'm not sure the witnesses understand

Ok, how about if you substitute your Texas Hold'em analogy with a SteemMonsters one.
Then maybe some understanding??

lol - I've never been on steem monsters, soz!

We have a big stick, the exchanges -vs- the powerdown, thats why it is the ONE the ONLY thing the want to talk about.


Engineers trying to conduct business.

I would think the same thing, except I am convinced that he doesn't actually need anything from the witnesses and vote in others and get the hardfork they are looking for

The world is watching now. So you have to be much more careful with your actions.

Justin may have enough SP to take over the witnesses but probably won't now because he would loose most of the community (the value) and look bad to the world. The steem price would crater.

The exchanges won't vote anymore as they NOW see just what they steped in and they want out. If they vote again... The crypto community will put them out of business, however it may already be to late to save them. Public opinion is already super negative.

And I think BOTH are just now realizing that even if they could pull a hard fork you can't safely (maybe even legally, because of notification requirements) make a change like that in 3 days. Odds are super good that if you a rush change like this, you will crash the chain.

Now that the crypto world is watching that would be disastrous to his reputation.

This is business negotiation, not an engineering project.

They are playing to win.

Wake up everyone. This was a HOSTILE ACT AGAINST STEEM! However we don't have to be dicks about it.

They, the exchanges made a strategic mistake while executing a HOSTILE TAKEOVER! Face it HOSTILE!

We don't need to apologize for that and we don't need to help them fix it.
And we don't need to be dicks about it either.

We just need say "sorry but no."

Then say "So what's next item on your list, Justin?"

I appreciate your passion for sure

I really appreciate your passion and clarity and totally agree with you.

In Justin Sun's now deleted post was a series of questions. They clearly showed that he fully understands what is preventing Steem / Steemit from going viral and I agree with him.

One thing that sticks out to me now is the issue of the EIP and free flags.
Due to the actions of the old top 20, it has become obvious to me that we do not need flags to stop bad and malicious actors in their tracks. It can be done with the code and can be done quickly.

Agreed. If downvoting was around since the beginning..these current whales wouldnt be whales..that would have destroyed each other....instead there are huge stakes holding big sticks. There is always a centralization.....

I completely agree with you

Nice post.I respect your thought process. It's all about who has most of information available.In general steem witnesses are very transparent even that hurts their public image, I can't say that for the opposite involved party, #tron

 last year Reveal Comment