Hey mate.
As I've written on countless occasions, one of STEEM/Steemit's most significant problems is that it is being run by a bunch of Millennials whose knowledge about anything even tangentially business-related is limited to writing computer code. This little caper though takes the cake.
Having been a hedge fund manager for 20 years (and hence someone extremely familiar with securities law) let me assure you, @aggroed and fellow witnesses, if @justinsunsteemit decides to commence legal proceedings ... you guys are going to jail.
Let me be clear ... not fines ... prison (although you'll undoubtedly suffer enormous financial penalties as well). And, what you have just done is waived a giant red flag BEGGING the SEC to prosecute as part of its ongoing efforts to "set high-profile examples" in the cryptosphere.
Do you know what: Steemit Inc. ... a "U.S. Person" + Justin Sun ... a "U.S. Person" + thousands of U.S. Steemians + U.S.-based nodes equals?
That's right, fellas ... U.S. jurisdiction.
Obviously it did not occur to any of you luminaries to first consult with an attorney. I know this for an absolute FACT without even having to ask because any first year law student would have told you, unambiguously, that what you were proposing was MASSIVELY ILLEGAL.
Here's my recommendations:
1.) Immediately reverse the softfork;
2.) BEG Justin not to destroy your lives.
And quoting the Magna Carta ... I'd pay USD$1,000 to see you make that argument in front of a judge.
Quill
Hey man, good to see you! We've both take a little hiatus from this place.
You hit the nail on the head, these guys have no idea about business. If it was me, I'd get in my own witnesses and boot them all out and start running this platform the way it should have been run from day one.
Oh well, like you say this will not end well for them if they pursue this further, let's just sit back with a bag of !popcorn and watch this space.
Cg