HF 22.5: Binance, Poloniex & Houbi Take over Steem

in #palnet • 3 months ago

Every action causes and equal an opposite reaction....

An hour ago 3 Chinese exchanges used customer Steem they held to power it up, take over the Steem blockchain and return to Steemit Inc centralised control:

  • Binance had 32M STEEM
  • Houbi 10M
  • Poloniex 2.2M

They used an account @dev365 to replace all the top witnesses with unknown accounts by setting it as proxy for around 46M Steem Power which had been powered up by the above exchanges.

They then did a hardfork 22.5 which reinstated the ninjamined Steemit Inc accounts which had been frozen by HF22.2, which then also voted for the new witnesses.

What this means for the future of the Steem blockchain and the great community that we have here, I don't know.

The old Top 20 witnesses, who represent some of the most talented active people on Steem have been shafted.
They did HF22.2 "to protect the community" but the war that has started may now divide or destroy it.

If they leave Steem because of this, then much of what has been created here will be lost.

Lets hope that some compromise settlement can be reached.

Screen Shot 20200302 at 13.14.22.png

#steem #informationwar
3 months ago in #palnet by
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    • [-]
     3 months ago 

    Lets hope that some compromise settlement can be reached.

    1. "Hope" is a weak word, vainglorious and impotent. Hope is what fuelled the greed to be complacent and hope my #STEEM would not turn into a shitcoin.
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    [-]
     3 months ago 

    I try to remain optimistic but your points are well made.

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    [-]
     3 months ago 

    i admire your optimism and feel bad that i'm so cynical to feel it is in vain.

    Retain that optimism for when the time comes to turn it into vengeful wrath!

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       3 months ago 

      @justinsunsteemit is such a dumbfuck.... I had a feeling something equivalent to this would happen since day 1...

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      [-]
       3 months ago (edited)

      Not sad, not surprised.

      Just disappointed and angry. No one was willing to fight, everyone was willing to suck the cock of empty promises and this is what they got.

      What now?

      More fucking Hope?
      Hope at this stage is when the executioner puts the blindfold on you and hear the bullet with your name on it get loaded into the chamber.

      [-]
       3 months ago 

      I guess its them banking on well their are more people who don't know about steemit than do, we can piss off everyone and secure more bag holders in the future who won't question a thing and just use the service

      [-]
       3 months ago 

      I think a hard fork is inevitable now. I think most of the DApps and quality posters will go with the legitimately elected witnesses's chain as long as they can keep things running technically.
      Many will cross post.

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      [-]
       3 months ago 

      or we could just reach an agreement and decide to rollback. Either way, Jsun will want one of his cronies high up there. He might not have to use STINC's stake. He could just use any of his accounts now.

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        [-]
         3 months ago 

        Once the Rubicon of using customer Steem on exchanges to overthrow community elected witnesses has been crossed, there is no going back.

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        [-]
         3 months ago 

        Everyone should try withdraw their steem from the exchange and then sue them for not having the fund since it's all powered up right now.

        [-]
         3 months ago 

        That assumes they are based somewhere with rule of law. They are all controlled by China.

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        [-]
         3 months ago 

        That assumes they are based somewhere with rule of law. They are all controlled by China.

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        [-]
         3 months ago 

        Our communications are dependent on centralized mechanisms at multiple layers. From ISPs to the physical network, we speak at the pleasure of overlords. The Steem blockchain itself is but a tertiary expression of this vulnerability.

        In fact, this notification of our vulnerability to censorship is an extremely valuable warning.

        Our ability to know facts enables us to act to secure our lives and property from danger. Today across all enemedia, we are being misled regarding a pandemic that may threaten all our lives, and society itself. Steem is inconsequential in comparison, as I'm sure everyone values their lives and families more than their wallets.

        I sincerely and even desperately hope that devs, network engineers, and coders immediately undertake to create a mesh network through which we can reach each other as long as the physical network is powered up, to run blockchains, troll each other, or let us know about outbreaks of plague in our cities.

        This is not a drill. This is life or death. We need not to exist at the pleasure of overlords.

        Let's live at our sole option.

        [-]
         3 months ago 

        I agree with that contrast, that perspective.

        [-]
         3 months ago 

        Concerning mesh networks, I wonder how many mesh networks might be out there right now in the works. I always try to keep my eyes on some of them.

        [-]
         3 months ago 

        So it has begun.

        [-]
         3 months ago 

        A lot of us knew this was gonna happen.

        What to do next...

        [-]
         3 months ago 

        Withdraw all steem from such centralized entities.

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          [-]
           3 months ago (edited)

          They are changing the power down time to 1-3 days to allow their exchange buddies to free up customers' STEEM they powered up.

          Might not be a bad time to exit.

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            [-]
             3 months ago 

            Very interesting. I was wondering how these exchanges would meet customer redemptions (withdrawing Steem).
            This is another major change not agreed by the community.

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            [-]
             3 months ago 

            And there's your answer.

            [-]
             3 months ago 

            If they power down they lose the witness standing. Whatever they do, they are fucked.

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              [-]
               3 months ago 

              The STINC stake is more than enough to keep the top witnesses.

              They just needed their exchange buddies to undo the soft fork to unfreeze STINC.

              [-]
               3 months ago 

              Hmmm, then we must fork. No more ninjamine, and even better, make the exchange accounts unable to transact at all, outside sending and receiving steem and sbd. There's no winning my trust again Steemit, @ned, I am sure that this is now the de-facto sentiment for 99.99% of the community, mark my words.

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              [-]
               3 months ago 

              Hmmm, then we must fork. No more ninjamine, and even better, make the exchange accounts unable to transact at all, outside sending and receiving steem and sbd. There's no winning my trust again Steemit, @ned, I am sure that this is now the de-facto sentiment for 99.99% of the community, mark my words.

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                [-]
                 3 months ago 

                How to fork? where to discuss? Not here?

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                  [-]
                   3 months ago 

                  This is the crux of the matter as far as I care:

                  Everyone who has been involved in this has decidedly demonstrated that they cannot be trusted, either because they powered up steem which now is locked up (hence the joke of withdrawing steem) or because they colluded in this fashion.

                  What can be done? Besides the majority witnesses stopping their servers in protest while everyone else demands their steem back, I don't know.

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                    [-]
                     3 months ago 

                    Let's get M.A.D. !!!!!

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                      [-]
                       3 months ago 

                      like Mad Magazine, Spy vs Spy lol

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                        [-]
                         3 months ago 

                        So they tried shafting him and got shafted. "You play with feathers you get your ass tickled"

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                          [-]
                           3 months ago 

                          True, but it revealed early Sun's contempt for decentralisation and the talented witnesses we had.

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                          [-]
                           3 months ago 

                          Agree we just have to wait and see whay happens.
                          Lets face it before he come along we were on a downward spiral. So we could accelarate that or turn a corner

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                            [-]
                             3 months ago 

                            Oh, my God!!! ...this is awful!!

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                              [-]
                               3 months ago 

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                              Your rank has improved 1 places in the last three days (old rank 2104).

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                                [-]
                                 3 months ago 

                                Should we run off to Weku or what?

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