Picture Source: SteemitBlog
Exchanges are losing patience with the Steem blockchain, this battle between witnesses and Justin Sun could mean the end of the Steem blockchain as the last major exchanges could pull support in the coming days. While some may argue in favor of the witnesses fighting for the community, several exchanges already put Steem and SBD wallet in maintenance. What sad about the whole situation, witnesses does not have the financial resources yet want to have the controlling say as to how the dust finally settles. I try my best to break it down to some witnesses pushing hard for their way, its all about business at the end of the day. If Steem loses Binance and Huobi, it would just leave Bittrex as the only exchange running where wallets still work. The Tron team pretty much decided they are going to fork their vision of Steemit unto the Tron blockchain and at the end of the day, people are going to go where the money finds home. Most of folks who know what's been happening in cryptocurrency knows where the money is going.
It isn't really smart, even if you are trying to make a point to go on social media and tag exchanges and threaten with code to freeze account and then say well the code exist but we haven't reach consensus on that. Witnesses and the Steem community, if you haven't realize, life is about money and where it exchange matters. I like the fact we are fighting in the name of decentralization but a community without financial resources have to bend or meet half-way especially when you survival depends on it. Justin Sun and his team are likely to win over the support of exchange and get their token on exchanges, Steem likely rally as money meets money. That's just the way it is folks.
I hope at some point in time, common sense would show its head and the community can have a chat with Justin Sun and his team and come to a common understanding. Putting code on github that basically nullify exchanges and select account that the community sees as a threat was one of the dumbest move. Witnesses again, think through what exactly you are doing, folks here are already down thousand of dollars on their investment, please don't act unwisely an put a nail in the coffin.