Dear Ned & Steemit Inc.

10개월 전

Dear @ned & Steemit Inc.,

I'm trying to keep patience. I really do. But seeing this?



Watching your company, Steemit Inc. powering down nearly all of their stake - I don't feel comfortable with it at all. Especially considering that you've already powered down 95% of your own stake and send it to exchanges, with the reasoning to hide it from the public eye.

Now, with your own stake you can do however you please, even though it doesn't show confidence in your own product.

However, seeing Steemit Incs. initially mined stake being powered down ; 34 Million SP to be concise - which would be 2 Million SP per week. That's dangerous.

And a simple "memo" message, telling outside viewers that you're just doing this to send it to secure wallets. There are two options:

1.) The @steemit account isn't secure enough - maybe due to the recent layoffs there were intern problems - I don't know. But even then, @backup-bittrex doesn't even have multi-sig and why is it being vested to exchanges?
2.) It's a blatant lie to keep us ignorant.

I honestly hope it's the first or another good reason.

But trusting some written words is not enough without any official statement. This is not child's play. We're talking about millions of dollars worth of investment for thousands of people.

And 34 Million SP to the market, could very well drop the price immensely.

That's why I'm writing this message - not to attack you, not at all, but for the safety of stakeholders funds.

With that said, as a witness & stakeholder in this blockchain, I'm not able to patiently wait this out. I believe in Steem, but the amount of centralisation and single point of failure is way too high. I'm still hoping (or at least partially believing) that you, @ned, only want the best for Steem and have good reasons for this move - but simply believing it at this point in time is not good enough.

Now, and I'm saying this with good intentions, I expect an official statement about the power-down and how we, as stake/tokenholders, can make sure that this stake isn't just sold off to the exchanges, with the risk of crashing the price.

Thank you,
@therealwolf


IMPORTANT

This is not a FUD post! There is enough time to clear this up and since power-downs take 13 weeks, there should be enough time for solutions.

This blockchain is decentralised and while it currently has a small centralisation problem, this doesn't mean we're out of options. However, please let me clarify one thing: the first goal should be to find a cooperative method of working together, between the stakeholder/tokenholders & Steemit Inc.

I'm not asuming that Steemit Inc. have bad intentions with this power-down, actually I'm trying to assume nothing, but it simply requires clarification!

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I heard, via @pennsif, that they have also withdrawn some big delegations from projects. I appreciate that they have to secure some income, but a simple statement to the community that's not hidden in a memo would be appreciated. STINC losing the trust of Steemians is likely to be bad for all of us. Despite the lack of activity from them things had been looking fairly good with all the dapps, but for now we still need that core team to work on the blockchain.

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This is actually great news to me. STINC had no business delegating millions of SP that they said would not be used for voting. All it did was massively dilute all other user/investor influence on the platform.

I hope they pull back every bit of delegation they’ve given out. That might actually restore some trust/confidence for some people.

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I hope they pull back every bit of delegation they’ve given out. That might actually restore some trust/confidence for some people.

I know that more than 500 artists. producers and musicians were posting regularly through @dsound , so it's gonna probably discourage a lot of people to post. It will have a very negative effect in the long run too. It all depends what you enjoy doing on Steemit, but for me it's essentially a way to show my music, and connect with listeners and other artists...

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Dsound should find a better way to reward their users that doesn’t depend on a horribly mismanaged central entity footing the bill at the expense of the people invested in this blockchain.

All app developers need to assume their own risk and not continue socializing it for their own benefit. They’re going to realize that it won’t actually help anyone due to the disincentives for investors...which is already pretty obvious to most of us who comprehend economics.

Just take a look around and you’ll see the effects of supply without demand and rewards without risk.

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We were chatting on DIscord about ideas to reward the users/listeners, it was quite interesting to see how everyone came up with good stuffs, I think at the end of the day the next few weeks will determine if a big chunk of the musicians will stay on Steemit or migrate...

Just take a look around and you’ll see the effects of supply without demand and rewards without risk.

I saw it at Steemfest, there's very little demand for music on Steemit, that's quite deplorable

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I love DSound as well-there is a lot of drama here on Steemit, let’s hope for the best. ✌🏾

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You have to support projects since the 1.That stake is premined and they have no business holding so much STEEM and 2. Most platforms have a hard time competing since STEEMIT has no beneficiary fees.

If they burned a part of the stake or added beneficiaries to STEEMIT so others can compete for users then id be ok with the canceled delegation. They seem to still be uninterested in making any smart moves.

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That stake is premined...

It wasn't "premined." But it was mined for a specific purpose and has so far mostly not been used for those purposes. It was specifically stated that the stake would NOT be used for voting on the platform. So, they get around that by delegating it to other projects of their choice to be used for voting on the platform? The effect on users/investors is the same and contributes negatively to demand for STEEM and SP.

Most platforms have a hard time competing since STEEMIT has no beneficiary fees.

Well, that sucks for the other platforms. Maybe they ought to figure out different revenue models and create interfaces that are actually appealing to users that aren't already in the Steem bubble and mostly just looking for more ways to acquire and dump tokens. Because other interface developers aren't good at meeting demand and creating appealing products isn't a good reason to go back on your word and dilute actual investor influence.

If they burned a part of the stake...

They'll never do that. I've been banging that drum for a couple of years now. They don't care and most of the platform has the same failed mentality of "Delegate to projects, guys!" You know...the stuff that consistently makes STINC look terrible/incompetent (because they suck at making good decisions with their stake) and drives away good investment.

They seem to still be uninterested in making any smart moves.

I think it's more than being "uninterested." They're just wholly incapable. I would support protocol changes that fork all official STINC accounts out of Steem.

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I would support protocol changes that fork all official STINC accounts out of Steem

That's the fork I would be glad to see!!

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Well, it kind of was. But lets say it was ninja mined unfairly.

The fork would be a huge risk.

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it would work and dont see much risk for whoever implements,
also i think it would be very popular due to

  • false claims on purpose of holdings + reward farming
  • the 10's of millions of withdrawals to various accounts over

this would have to happen before steemit inc accounts have powered down moved and sold so within 3 months

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here's what they did exploiting system with stake to farm millions of SP god knows how much they've taken through upvote bots and various anon accounts farming

for a fork to remove steemit incs influence to succeed would need to remove all steemit inc farming accounts also as a significant amount exists with them

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I am 100% agree with you Dear @therealwolf ,If @Ned has something positive for the steem and having some possible proper reason for withdraw he must reply to there millions of question bu i am sure He has Something wrong in his Mind that why He is silent at all, I am not sure why he is not responding to All question , he created this community So he should take care of every person How we will promote this community if we are in Doubt?

And do not need to flag my comment any one i am just saying what are doubts are in people minds , I saw most of the steemians bought steem at a price of 4 USD 5 USD what about those people ?
Its Not a game its a real life matter :(

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That's going to hit those guys bad. I wonder if there was any communication about it. I hope they keep supporting the anti-abuse projects.

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They are still supporting a lot of other projects:

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Does spaminator really need ~3 mill SP?
Do we have that much spam around? Just curious

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Oh there is plenty. I can see they are constantly flagging, but they are still at 100% VP, so maybe they can manage with less. Steem Flag Rewards could use some more SP to support flagging of other abuse. Do bittrex really need any? They have 30 million Steem!

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bittrex is like 10k, i don't think it even qualifies but they may need the RCs for transactions or something. dunno.

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But why steem supports private company? They want to trade steem and get profits from fee? They should invest something.

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Haha. Definitely not. Not even close to that. At this point its just stake that does nothing so it doesnt bother me much. But they could probably do with 1/10 of those 3 mil.

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Or even fund 3 - 4 other projects too....

I thought it is way too much in the first place, that's why I asked..

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Sure.... But funding another project that uses the stake drains the reward pool. The delegation sitting in spaminator account is the same thing as it sitting in one of the steemit accounts. It does nothing.

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There is a fair bit of Spam around, thankfully much less than pre-HF20 though.

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Ffs isn’t there a way to remove their (delegated)sp so that their RC’s are not enough even for a vote...?
I guess I am lucky I have no visits from them😂

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Not quite sure I understand the question. We talking about Steem or Spaminator, or spammers?

All delegation can be removed but whoever delegated it, but I am not quite sure what you are asking.

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I think @themarkymark can give a proper answer to @mindtrap's question.

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need to add actifit to list

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I hope they keep most of those going. They should be delegating to those who are short of SP. Not sure bittrex needs it when they have 30 million they could power up :)

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I think steemit shoudn't suport private exchange. They get enough money from fee. But That 30 milion os steem is mostly other ppl steem.

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I guess, start panicking if you see more of them lose delegations?

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Panic? why?

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seriously not sure how to feel about all this.

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Screen Shot 2019-01-13 at 7.16.45 PM.png

Doesn't seem that musing knew about it.

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@jonching seems to be very surprised about this!

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I hope @ned @steemit or @misterdelegation redelegates to @musing.

I love @musing and think they can build a profitable business, and the delegation can give them a head start!

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Well said @steevc I have been very busy as if late, so haven’t been blogging as much. It seems every time I log on there is new drama 😊

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Steemit are doing stuff, but Ned needs to show his face a bit more.

Yeah this is pretty bad. Ninjad stake getting taken out without any feedback, that could potentially be sold on the open market. If the STEEM really was to be used for development, then it should be sent to a separate account where funds would be used transparently.

As scary as this is what theyre doing, i dont think Ned is that big of an idiot to dump all the unfairly acquired premine STEEM on a exchange. Im not one to endorse violence but if he did do such a idiotic thing and hurt the livelihood of so many people, im sure someone would get so pissed off to find him and beat his ass to a pulp.
Being seen as incompetent is one thing. Being malicious is another thing completely.

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Or contact some letter agencies like SEC and AG

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Hi @lordbutterfly

I just don't understand the point of selling any resources at it's lowest price. It just doesn't make sense. Price is awful and there is almost no demand.

As scary as this is what theyre doing, i dont think Ned is that big of an idiot to dump all the unfairly acquired premine STEEM on a exchange.

That would end his career in any project related to crypto.

If Steemit would really dump all those STEEM then Ned would be more famous than guys from Bitconnect are. Seriously it would be end for him and his team.

Cheers
Piotr

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Good luck then, bye bye.

Ned moved the company’s stake because certain witnesses were threatening a HF to remove his access. He simply did what any smart person would do when his company was being threatened.
He then also pulled his support for the apps being run by the same people threatening him. I mean, what the fuck would they expect him to do?

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Any references to back that up?

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Yeah, I would be interested in any concrete proof of these claims about the projects involved.

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I think same ... I see lot say Ned bad ... but also lot not say that is there some one who make him to do this :)
But soon we see ... I know we have some users here who want own all.


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This makes the most amount of sense. If what you're saying that the people threatening for this HF were running those platforms, then it all makes perfect sense. I'd do the same thing if I were him.

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Please give me a source for this info!

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Ten months of inactivity? What brought ya back?

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It would be great if this were the case because everyone would understand that, but how hard is it to just come out and say that? Doing this with no official communication is shady AF.

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Dear @crystalandbones, @foxkoit

Thank you for your great comment and sharing your knowledge with us.

He simply did what any smart person would do when his company was being threatened.

I wish there would be more communication happening between Ned and Steemit community.

And @personz, @seo-boss, midlet and @ats-david have a point. Some evidence would be useful.

Yours
Piotr

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What's your relationship to @justinw, by the way? It seems odd that you would make these claims and provide zero evidence, considering the relationship of you/your account with a STINC employee.

Only time will tell what’s happening with the Steem.

I’m afraid that this will create a lot more powering down from the community.

The price will drop along with bitcoin and the rest of the altcoins

Posted using Partiko iOS

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True believers shouldn't power down.

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True believers worship Gods, not a business with a flaky leader

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Who said anything about Stink?

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A "True Believer" in what? A blockchain? A project?

In business, it is best to rely on evidence and stats and facts.

If you want to move forward with "faith", maybe define what it is you have faith in.

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In Steem. In the protocol. In the community.
In what distinguishes us from most other coins on CMC.
Even if Steemit abandons us, those things remain.
And I think they have more value than Steemit's oversized stake.

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Well i powered up a bit more after i heard the news. I always swim upstream. haha

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If you had waited a bit till the FUD takes full effect, you'd have had a lot more steem off the market. ;-p

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Time eventually runs out.

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For the little Steemians, such as us who try to survive in Venezuela, Steemit is a hope for some profits and at the same time make our points of view and our creativity known. I guess for @ned and many other whales Steemit is just a cold transaction, an anonymous financial operation, which is understandable because it is a private initiative... But I think it's important to find a balance between profitability and solidarity if they want to make this platform sustainable over time.

Greetings from Venezuela, or Webnezuela ;-)

This could as well be a reaction to the idea of HF21? Are there any established forms of mediation within Steem world? It seems recommendable that Steemit Inc. and witnesses meet physically on some topics @ned @threalwolf?

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Thanks, this convinces me. No need to worry, sell or power down.

Steemit INC is securing its wallet from the community itself. That's it.

In a nutshell, the only way to remove the Steemit INC stake is to complete this hardfork which is now just a proposition, i.e., no code has really been written.

Timing of events:

  • 2 days ago: Hard fork proposition to remove Steemit INC stake is publicly written.
  • 12 hours ago: Steemit INC is scared and start powering down its stake to multiple exchange accounts to protect its assets.

End of story. Let's move on and continue building on this most elegant blockchain.

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Thanks @jonmaim and I hope you are right.

That would make sense, and in order to make it impossible to track, they'd need to transfer it to an exchange before transferring it back to private accounts.

It still creates a lot of fear, uncertainty and doubt since it's impossible to know if that's the true story, but I think that is generally what happens during bear markets, especially with struggling startups like @steemit.

P.S. @therealwolf is right though... We probably need a public statement.

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That’s exactly what happened. Certain people in the community including witnesses decided they would pretend to blackmail Steemit and threaten their stake with a HF. So Ned did what any smart person would do and secured the company’s assets.
If I were him, I would have voted them all out. How dare they threaten Steemit and then expect to continue representing the community?

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@crystalandbones But where is the official statement?

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2 days ago: Hard fork proposition to remove Steemit INC stake is publicly written.

I must not be following those writing it, can you share this please?

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Sorry I wasn't clear, I did see that but no on Steen chain discussion. Was there any?

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There is a non public slack where Steemit Inc. and handpicked witnesses and developers can chat.

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Thank you. This is what I assumed and hoped to here. Do they talk at the moment? Would be great to know that there is some ongoing conversation on the situation at the moment. Do you know @wehmoen ?

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This was my thought as well. Maybe that's what they meant by wallets not being secure 'cause theirs got threatened via the proposed hardfork.

These big sell offs already started in August 2018 when the steem price was 3 times higher than now. And long before the lay off announcements... sounds like unfair insider knowledge based trades to me.

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Hmm, If it is insider, is there the possibility of legal action against stinc.? Either from sec or another agency? I'll admit I know little of finance laws and agencies, other than basic stuff like insider trading is unlawful.

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This is why crypto is called the wild west....it is not regulated (yet)...

These are not good news. I am surprised that currently Steem and SBD rise. Whatever the true reason, it creates a bad feeling for me. Thanx for inform us.

First of all, I hope you had a great start into 2019, and here's my belated but still enthusiastic Happy New Year for you :-)

Honestly I wouldn't even have seen that memo without you, so thanks for directing our attention to it. I wonder how tiny an announcement can even get...

Some people say that Steemit, Inc selling off their stake may lead to a price drop on a short term but help us to gain more decentralization in the long term. Would you second that view, and could that be the other (positive) side of the coin?

Rebuying their tokens at 10 Cents could be fun for the middle class shareholders.

Happy Sunday, and again thanks for the research! Resteemed

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And do what? A person would still have to spend hundreds of thousands of fiat money to actually do anything here. No one is going to over power the freedom account votes for the sham witness situation.

Then would someone want to put tens of thousands or hundereds of thousands into a blockchain with so many problems where everyone has pretty much lost hope and it keeps slipping down CoinMarketCap further and further?

Why not invest in coins in the top 10 that show promise and not deal with all the non communication and BS?

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Well I can only speak as a content creator, time investor and socializer here. Other coins are simply not that attractive to someone who's built their brand and network on Steem over years. Yes, the performance is weak and we've lost many users, but those who attended Steemfest in Krákow know that the project is anything but dead.

Now having more Steem Power means having more influence within the Steem community, and that'd be my reason to buy more Steem at its bottom, even though I realize that you couldn't sell it like this to an investor :)

However, if more of us rebought Steemit Inc's stake and gained more influence within the network, we could direct the ship into a different and probably more promising direction. Is that naive?

When Dan Larimer left this project we were in a similar situation: many people started their power down since they thought this was the end. But it was not.

So I don't think it'd make much sense to do anything right now, since we don't know what's actually going on. Holding and constantly increasing one's stake through content creation is surely not a bad idea if you still believe in the silverlight - and I do :-)

Congrats on that monster car btw - Audi is my favorite brand of all :-)

Have a good Monday, Brian!

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You have a great positive attitude. Most of what I read on this thread is just speculation. Maybe Steem Inc are selling off some or all of their Steem or they could just be moving it around.

I think a big positive is the performance of our DApps. Check out this screenshot I just took from State of the DApps.

DApps.jpg

Six Steem DApps in the top 10 despite all the chaos.

I hope Steemians give @ned/Steemit Inc a chance to explain a little more about what's happening before selling off Steem and buying pitchforks.

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Well most of the time crypto is just speculation :-) But Steem has a big asset only few others have: Proof of Brain!

And that gets perfectly reflected in the screenshot you published - great adding, thanks for that!

If we can perform like this at our worst moments, imagine the stats when we’re full speed ahead again 🙌

Positivity rulezzz :)
Have a nice Monday!

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I must say @surfermarly your optimism is highly contagious, you have given me another reason to stay in here no matter what!

I love you :)

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Haha, I hadn’t been expecting to receive a love confession today - but thanks 😄

Am always happy to spread the positivity around the Globe 🤩🙌

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You are welcome, saying I love you is a habit that rubbed off on me from my mother, it's what she says before she says goodbye on phone call irrespective of who she's talking to...

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Thanks for the reply!

I don't want to sound overly negative but the attrition rate is terrible here for a reason. I'm one of the stubborn fools who have stuck around. There was so much potential for this to actually be something a lot greater but almost everyone can agree with me that hope has been lost here.

The witness voting situation has and always will be a sham and for a supposed content creation platform not one content creator in a first would country could really support themselves off this platform.

The need for additional revenue sources was obvious long ago but there is so much misdirection from Steemit INC it isn't even funny.

Things aren't good here at all and it isn't just about the price of STEEM.

The majority of people don't have the money to to make any sort of tangable impact on their influence here and even if they do put in $1000, or $5,000, or $10,000 then they are more likely to hog their vote in an attempt to recoup their investment.

It is just a game of don't get dumped on.

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Well I don't think that you sound too negative, you're just pointing out some facts.

I'll be staying since the network still works for me and there are still many enthusiastic people pushing their developments forward. Also it looks as if Hivemind was just around the corner, and that could really bring some new opportunities for man different target groups.

Let's see what the future holds.

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I'm going to buy at least 2,000,000 coins if price drops to 0.01$.
The time has come for some power redistribution on Steem.

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Very interesting answer.
I was thinking the same thing.

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You're welcome.

Some people say that Steemit, Inc selling off their stake may lead to a price drop on a short term but help us to gain more decentralization in the long term. Would you second that view, and could that be the other (positive) side of the coin?

There's usually a positive side, but that doesn't mean they should be able to sell stake which hasn't really been acquired in an absolutely fair way. Actually, Steemit Inc. always said that they would use their stake mostly for the development and improvement of Steem. But without any transparency, how much of that is believable if they do sell it?

Rebuying their tokens at 10 Cents could be fun for the middle-class shareholders

Sorry, but no. I'm not staking hundreds of thousands of Steem, just for it to drop significantly in price, because the entitiy who created this blockchain and mined 100+ million Steempower, decided to sell it all. Now, I'm not saying that more decentralisation is bad, but those funds should be in a fund, which is only being used for development and improvement of Steem & it's ecosystem.


happy sunday :)

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but that doesn't mean they should be able to sell stake which hasn't really been acquired in an absolutely fair way.

I think considering all the early miners who got in, was any of the start well thought out?

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Hence @whatsup's idea for a decentralized Steem Development Fund. Because currently a centralized one failed to work as intended.

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Positive Side??? Did you got an answer from @ned or @steemit spokes person? on your post?

#enoughsaid

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Looking forward to do exactly this!

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@ned, if you want people to trust you, @therealwolf gave you a clear explanation on how to achieve that.

If you don't users to spread conspiracy theories, because not enough official information is available, now is the time to act.

If using political metrics, your support level is below Trump's, and that doesn't bother you?!

I hope @ned will finally comment on this.

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I hope so too, but I'm not expecting miracles at this point.

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Neither do I.

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Ist das diese Umverteilung?

this is quite concerning...

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This story was recommended by Steeve to its users and upvoted by one or more of them.

Check @steeveapp to learn more about Steeve, an AI-powered Steem interface.

I'm hoping they are shoveling it all into grs-io so they can pump STEEM when they feel like it :D

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Maybe they are trying to optimize the taxes.

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Geez, those rolls should be 100 dollar bills each exclusively. Otherwise you gotta need a good wheelbarrow to carry on so many heavy bolts with you. LoL

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Oh! I see. But that's just because you are a strong boy!! :D

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haha :D

Well thanks, but it's actually because I have only 2 notes :)

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Uhm, well, ok, then I hope that those only 2 notes you have at least show the face of Woodrow Wilson printed somewhere. :)

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Very interesting! Thanks!

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@ned we want to hear your replay.

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I thought steemit.com is in maintenance mode or not planned to be worked on any further? Then what's with that memo? Is it all fluff all along?

Edit: but great if the plan is to get Steemit.com geared up for further dev again. personally it’s still my go-to app for steem.

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I am willing to bet real money it's an attempt to tell us what we want to hear.
Meaning: shit gone especially worse today

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Steemitdotcom is in perpetual beta mode.

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This is fucking bad!!! I hadn't paid attention to the @steemit account until now! Thanks for the heads up, we certainly deserve answers from @ned about his reasons for the power down, it is worrying to say the least :(

If anyone feel like they are done with steem and not sure what to do don’t sell it, delegate it to me or if you really don’t care send it to me 😬 I’ll gladly take the “useless” token off your hands and would be ever so grateful

Posted using Partiko iOS

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Ah ... I was think same comment to make ... " If you not more want it, send it for me :) "
I like it to use and lot :))) @chekohler


I'm still having a panic attack hey. Nothing I read these days help. I even lack the confidence of talking to people about steem. It seems like an advance ponzi scheme. Shit is crazy mate. How can just a few persons do this to our blockchain. It's ridiculous!

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It is their money. No one can tell them what they can use their money for.

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I'm such you've heard about cooperate responsibility? Because its their money doesn't mean they can do as they see fit. In a more regulated market, this move might be consider fraudulent.

And if I am going by what you're saying. Its their money, yeah, and what if they want to sponsor a terrorist group?

Posted using Partiko Android

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Well. Steemit Inc is a private company. So I do not think they have any responsibility towards anyone else than their own employees.

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Try to read a little about corporate social responsibility. If you still feel the way you do about this issue, well then I really have nothing else to say to you

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I still think the same way :)

THANK YOU @Ned and company for bringing us this far. You have done an amazing job making the first ever crypto blog. You will be remembered in our collective tales and I think you DESERVE a HUGE THANK YOU!

Not many people can make and lose a Billion dollars out of thin air in less than 2 years, not bad says I. Good luck in your future ventures.

(as a side note if you sell to low you will be sick later when the price rises)

For everyone else, here is a juicy tid-bit I have not heard discussed ......

STEEM IS ONE OF A HANDFUL OF ....... ARE YOU READY FOR THIS BOMB SHELL ......

OK'D -- LEGAL -- CRYPTO BY THE CHINESE GOVERNMENT

Think about that for a minute :)) :)) :)) :)) :))

I am not sure how that has stayed under the radar so long... @exile @berniesanders @taskmaster4450 @haejin @oracle-d @therealwolf (whitelist me bro) @aggroed @magicdice (my love) @travonjb

agree.. i'm begin to lost faith in this platform.. starting to power down my steemit and sell all of it... much for the bad news being uncover by this steemit "company".....

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Steem is not Steemit!

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That's what happens when you put a post like that on the trending page... read my comment below.

You need to sell some day. Some it's going to be sooner than others. If we all hodle Steem it's not going to work. I think it's a simple answer. Bitcoin is cheap and people want cheap Bitcoin. My theory is @ned is selling for BTC unlike some who sell at the ATH, they can only to be selling for Fiat. If this is true he thinks this is the bottom and will accumulate more STEEM later. As far as steemit, I trust STEEM biome will buy up and fill in for Steemit.com stepping back. Making this stronger in the long run.
I think the true question is do you want a CEO to sell in a bear market or a bull market. Which ones smarter?

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I have a feeling that a lot of people are reacting to an action with the most negative possibilities rather than going with the more reasonable options. All I know is that if I was @ned and every move was picked apart as much as I see on this network, it would put me in a mood to do less public updates as well. Steemit is a private company, let them make private decisions and do not assume a huge move like this wouldn't come with some sort of explanation eventually. If people are thinking the worst case "he is dumping and leaving" then they haven't been in crypto long enough and are probably just feeling the stress of this market and are paranoid.

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Completely agree, great comment. Steemians expect to know the reason behind every decision he makes. I don't even get how they don't see that what they ask for is childish.

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Giving an ultimatum to a single person on a public forum is not a great look. I hope @ned and any Steemit team members can see the most vocal is not necessarily representative of the whole.

I mean the post literally makes a full on specific accusation

It's a blatant lie to keep us ignorant.

Then followed up some lines later with

That's why I'm writing this message - not to attack you, not at all

Not at all lol.

An attractive feature of blockchain in general is that it can be transparent as we can see the transactions being done publicly. The fact that they are doing this without notice is unfortunate as it is contrary to the underlying values of decentralization and community.

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People need to adapt first..

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This shit has been going on for way too long!

Where is the community fork?
for english readers: use deepl.com if you're interested. :)

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The important part of a community fork is how to distribute fairly. Without that you are just repeating the same money grabs over and overbjust with different people

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Yes, You are right.
Seems like noone has figured this out yet..
Maybe an airdrop over an smartphone app? "FREE CRYPTO!"
And some good influencers.. to reahc mass adoption. Idk.^^

But I like Steem

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No it has to be something connected to a set of values. Crypto anarchy is a joke played on idealists by scociopaths.

Ive long thought steem could run way better as a cooperative and have started writing about how this might work on my blog (I'm a noobie at writing articles, so it's also practice for me).

But if you start small and distribute fairly based on values created by a community I think something very interesting can happen.

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@therealwolf You are not thinking through posting on steemit. You are like the media that puts clickbait titles and creates drama out of nothing.

You have an ambivalent view and I can see that you are intelligent, articulate and trying to do good, but when your post is on the trending page, it doesn't matter. This will look like very bad news for people because they take things to the first degree.

If the steem price crashes it's not because they are selling but because you spread the FUD. I know you don't intend to but that's what happens when you post like this.

They could have a million reason to power down, I don't get why you see only two reasons. Maybe they want to sell as they think the market will crash even more, but then buy later. This isn't a lack of confidence in steem, it's only realism about the current market.

I was a holder of 20 000 steem, sold at 60 cents. I can now buy a lot of steem and almost become a whale, bu if you look at my account I have 500. Does that mean I don't believe in steem? Of course not. I can't wait to buy steem and look at my huge stake. But I have to be patient because I am an investor and my primary goal is to make money.

Besides, I think it's better if steemit inc sells their stake. This stake is too big and has always been a problem. The more they sell the more decentralized steem is, the more they sell now, the less they can crash the price later.

You probably want that stake to reduce, but you should know that this can't happen if they never sell. It seems like you want that they never sell their stake, just keep it as it is and not use it, forever. This won't happen. If they don't sell now, they'll sell later. Frankly, I'd rather they sell now.

Finally, you might be writing this post just to get witness votes from people. In this case, ok, fair play. But this doesn't work with me. I can tell you that you already have my vote. I love your drive and passion for steem, and you have a great work ethic. Today my vote doesn't count for a lot, but when I buy back my stake, it will. This post wouldn't encourage me to vote for you though, if I hadn't already.

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Drama out of nothing.

I don't have any time explaining you the reasoning of this post, especially to somebody who doesn't have any stake in this platform. You better make sure you do your own research before you accuse me of wrong facts.

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Times are bad, but it's going to turn around. I takes a year or two. The bear market is hard, but we can be stronger.

Keep up the good work, and stop worrying about prices. Only accumulate in steem what you can loose, and don't expect markets to go up again soon. Price is not correlated to "how good a coin is fundamentally".

Steem is probably the best coin there is now, time will tell. And I mean by that long term, years. 10 years.

I am a student, learning how to code. I am planning to create a Dapp for steem this summer, ad my biggest inspiration on the platform was you. I don't want to see you loose hope and leap, just because of the price and the bear market.

The market will turn around, and the best way to survive through it is to have cash on the sideline and be a buyer.

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I like what you say ... this dais lot go crazy when price go lot town . @marki99

Ya but you all "got each others back" 😂🤣😂Karma

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HAHAHAHAH.... Nice dclick ad!!!

i been saying this for about 8 months now. i seen dodgy shit going on ages ago, but, having only 700 steem, 'what would you know' was the general concensus.

i WANT to believe there isnt an exit happening, but the proof is right there in plain day.

now, stop me if im wrong, but isnt the funds on bittrex the same as it is on any other account, and has the same vulnerabilities as any other account?

if im wrong, please educate.

pony out.

Well being a CEO he has the authority to do what he sees best but at least he should have showed us the reason behind this move.

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Absolutely! Steemit Inc. is a private company. And even though I understand the concerns many here have it is their absolute right to power down and transfer their steem to somewhere else.

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The board of directors can fire him. They have the final say in how Steemit Inc is run.

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You think they have a board of directors? Hahaha

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Well, it could be a board of Neds, but I hope not.

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But I couldn't see the board of directors while he was downsizing.

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None of us can. Their discussions are behind closed doors.

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Yup but being something decentralized, it's ethically good to share the reasons behind some important decisions.

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You need to have 0 expections from Steemit. You'll be very disappointed otherwise

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You meant to say that we are wasting our time out here? O.o

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No. Otherwise I wouldn't hold 250K SP.
But the vast majority of value comes from Steem users, not Steemit Inc. So I wouldn't hold my breath to see any clarification about anything from them. They made it clear transparency is a vice as far as they're concerned.

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"The board of directors can fire him. They have the final say in how Steemit Inc is run."

Most states allows corporations to have 1 person to hold the office of President and Secretary as well as be the sole director of a corporation. I'm unsure which state Steemit, Inc is incorporated in, but generally speaking, Ned could easily hold all 3 positions in most states.

There is a possibility that it is something really positive, although I do not know if I am too naive.

In case Steemit uses those Steem to buy SBD and burns them to Steem, I think it would be very positive.

I see this as a great opportunity, honestly. With STInc selling their stake it gives more decentralization to the platform. There are lots of others with high stake and I think that it puts more power back in the hands of how the concept was designed: witnesses come to collective agreements on things rather than just going by what STInc says to do. I know there are other complications to that ie top 20 witnesses etc but I think this is a fantastic opportunity. Let’s see what happens.

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Hhahaha to secure wallets, like you guys can go fuckk yourself. I'm not sure but ned powered down and transfered about 1,5 million to bitrex. I wouldn't say a thing if they haven't ninja mined 50 million steem and now when everybody esle are building they withdraw their funds. Hopefully steemit will dissapear asap

I remember Penquinplablo writing: "Why would @ned hide his Steem? Hopefully not for tax reasons. A couple of hours later almost half a million Steem was moved to @omlakshmiom. Perhaps this account is one of Ned's hiding places. "

Neat... it would have been nice to have had a month or two notice before this, so we can cash out before the apocalypse. Now it's too late. We got played. Wahoo.

And so...it still can remain just a ponzi...

As we are the part of Steemit we have right to know what is the reason behind this power down. It is really a matter of serious consideration if the stake is dumped over the market then it is really very bad for steem price.
After this power down many Steemian loosing interest. An official statement is really required from steemit.inc

I don't use Steemit anymore. I don't trust Ned. I guess I won't buy anymore STEEM until I see if STEEM survives or goes belly up through incompetence of supposed "leaders".

Peace

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Steem is more than just Steemit.

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When you see the largest stake holder withdrawing funds from steem, regardless if we're talking about steemit or something else. So, in this scenario they are almost the same xd

Hi @therealwolf. I just read through this and I am a little annoyed, not at you but at what this all means to this place we have all grown and loved.
There is worry and fear that steem will not recover and this to me makes me feel like the hours and days I have spent investing have gone to waste.
I was promoting steem and steemit a year or so back and a lot of people said they wouldn't join as they felt like this was a pyramid scheme, and with everything that has been happening with steemit inc it seems like these people were right.
Ned has pulled his steem and this is making a lot of people nervous and I am one of them, I am a holder of steem and never wanted to sell, but it is getting to be a joke now with the value of it.
I know a lot of people who have sunk money into the platform and haven't seen any gains on their investment.
If this was a ploy to make money for nothing then ned will be the most wanted man for doing what he has done.
I am still going to hold my steem and I have no plan in selling.

I hope the future is bright for this place but all I read is dark things about it and to me that is becoming a joke for this place.

This is an important message, thanks for writing it. I’m coincidentally meeting with a bunch of Steemians today including 3 witnesses, I guess we have at least loads tot about while drinking beer. Cheers.

Posted using Partiko iOS

Steemit Inc is not sustainable with current STEEM prices. Many developers had been fired, the priority is to reduce costs and they are implementing ads.

The Smart Media Token is the last opportunity to rescue Steem Inc. from the bankrupt. But they can´t announce that because the price of STEEM would crash.

Those STEEM should be invested to a poor country to produce goods for a richer country then you can have a win-win situation like the fashion industry. Pay for Steemit brand goods made in Bangladesh, sell in the Europe and America. Both Steemit, Bangladesh and STEEM will reap the benefit. Just my 20cents of idea.

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You could do so much if the market was free..

There isn’t enough information to determine what is going on and even without Ned the blockchain survives. This all seems a but overblown at this point. We need more info.

Posted using Partiko iOS

There isn’t enough information to determine what is going on and even without Ned the blockchain survives. This all seems a but overblown at this point. We need more info.

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That is not a good sign seeing this makes me loose a little bit the faith in steem ! Next month I wanted to steem buy and power up a little ,but I should think about it twice!

the 13 weeks argument has some flaws. Since it is a step wise processes with a relativ/proportional component there is not so much time. Many wales have initiatet a powerdown. Even accounts which were quite a long time like dan lerimers account are moving positions. This is a systemic risk and an after effect of the ninja mining. I dont care if it is there personal funds.

Now we'll see what steem is all about.
We'll see how truly decentralised the Blockchain is and how much value potential investors see in the technology.

Mummy is flying away and it's time for all the kids to turn into adults and see what they are made of.

As for me, I keep pressing on with StemQ until the last steemian leaves the chain.

Posted using Partiko Android

Congratulations @therealwolf! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

You got more than 4000 replies. Your next target is to reach 4250 replies.

Click here to view your Board
If you no longer want to receive notifications, reply to this comment with the word STOP

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Moving all Assets to TRON....

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Evidence?

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I think @offgridlife meant his asstes ;)

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....^^ he changed his comment.

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Yeah... I have no idea what @ned is doing. It was a joke at 1st.... i am powering down too .... but no idea where to put my 4,000 Steem.... any ideas?

Wasted so much time here. My wife was right.

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Maybe it's the best strategy to power down, sell and buy at 5cts again..

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No idea.... I just wish I had sold at $8.... and taken a trip somewhere

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That's life...
But dont be mad. Markets give us much freedom. Even more when we have free markets.
And that's what were trying to build right now with these technologies.
Surely it wont be an easy ride.

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So tired of losing money with Crypto and the Stock market,

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HODLing has wiped out 99% of my savings.

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Your profile pic suits your cynicism.

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None.... anything is better than Steem. Maybe he is going to Buy all the Smoke.io tokens ???

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EOS would be the alternative

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Going to buy silver and gold coins.... maybe some Cannabis stocks. I’m outta here. Was fun.

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Yea man, get your hands on some real value stuff! All this digital stuff is a bunch of scams for the most part. Like bLOCKchain in general

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yeah... tired of all these crypto scams. more of the rich stealing from the poor ,... just like the stock market and casino

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Yup! This whole thing is all to sucker in people to think they're getting rich. Seen it from the beginning with all coins, will still hold some though to sell if it ever spikes again high enough.

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Me too.

Seems like each time Steemit Inc does something that does sound beneficial to the platform, something else happens that feels particularly questionable.

I may be wrong here, but outside of delegations, has that huge sum of SP even been used to upvote and curate users?

@therealwolf

So what's the plan if the ship sinks?

I have an idea. I designed a better curation system than Steemit has to offer, and its much simpler.

It needs some smart people behind it, but with the state of Steem and Steemit, I think lots of people would be happy to work on this.

I was planning to launch it as a SMT, but fuck it, I just want to see it work and I haven't heard anything about the test net that was supposed to launch yesterday.

You can take a quick look at the system here, or check out the whitepaper for much more info.
-> https://currentxchange.com/cryptovoting/

I just want to give this gift to creators, in any way, SMT, another chain, I am open to anything. We can use Purple to empower creators in a way that isn't begging to be gamed to death by bots. And I want to give as much of the token to those who help as possible, we don't need a ton of money to run the company. We already have a 1/12 total supply bounty program in place.

Let me know what you think of the system! I know you have already checked out cXc Music, because it is on steemapps, so you have an idea what could happen if we make it all a map!

Much love,
Douglas


Join us!

Website | White Paper | One Pager | cXc Music (Full App) Demo

Telegram | Facebook | Twitter | Instagram | Youtube



Steemit is dead, broooo,
Steem Price to : 0.03 $ a few more months

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Steem =/= Steemit

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I find this amusing, because this has been going on for more than a year. There's a lot of this sort of logic abounds. This is nothing new. You just chose to not pay attention to it till now.

Also, this blockchain is not decentralized at all, due to Steemit Inc. having so much Steem that it can essentially run any decision they want to make through. From that perspective, it's good they're selling. But please, stop thinking this blockchain is decentralized. It's only really decentralized when it comes up we have demands for Steemit Inc. to make it better, and they go, "It's decentralized, deal with it yourselves."

And if it were truly decentralized, you couldn't come to Steemit Inc. with any complaints, as they are allowed to act on this network just like any other private agent. The fact you do have complaints to how they behave shows that they are the centralized repository of power.

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People can have complains about dtube, Dsound, Steempeak or any other sole entity on Steem blockchain for that matter. People can have demands too.
It doesn't mean any Steem App developer can go ahead and change our protocol.

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The fact Steemit can is because it's centralized, exactly.

And sure, you can have complaints about how they conduct their business. The complaints with regards to Steemit inc is because they conduct our business. All of which, again, just shows that "decentralization" is a lie, around here.

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And dlive, dstors, dmania and all the other Steem Apps don't conduct our business? If an entity on Steem does things the community doesn't approve of, people will make demands and complaints. Regardless of whether that entity has some, or too much power on the blockchain.

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No, they don't. We conduct our businesses using them. We don't have to.

They don't control our ability to use the platform and how we use it.

And you keep missing my point. The point is about this not being a decentralized environment, due to there being one actor that essentially has full control. You keep nitpicking about something almost irrelevant.

And no, we aren't beholden to any of the apps. We are beholden to Steemit Inc.'s control, so long we are using the blockchain, through any interface.

hm this is pretty lame, only leaving a memo on wallet transfer instead of making a short announcement or transparency report...

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so much for "transparency" ned talked about in his livestream. everything he says is a lie. i'm not even surprised at this point.

Looking carefully all your posts and getting valuable information.

Now, and I'm saying this with good intentions, I expect an official statement about the power-down and how we, as stake/tokenholders, can make sure that this stake isn't just sold off to the exchanges, with the risk of crashing the price.

I bet it is. And it doesn't really matter anymore since last year when Ned powered down. It feels more like he wanted to sell the company but nobody wanted to buy it, and now he sell the stakes at whatever price it is. I wouldn't pray they stop the power down, but I do sincerely hope some angel investors who really wanted a piece of Steem future buy whatever STINC is selling.

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stinc and ned need to disappear if this platform were to become decentralized. i see this as good news :)

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Exactly! Currently, Ned can do whatever he wants because stinc is still the major stake holder. I know for sure if he sell those powered down steems, sure price will fall like a rock, I'm more than worried if he move them to an anonymous account and start self rubbing 😂

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i hope he sells all his ninja mined steem and fucking leaves. the prices will drop yes. but it'll be good for the long term. let him be rich and never come back here ever again.

Eager to hear @Ned's response on this. Thanks for raising the hand on this.

I am wondering, if Ned and team really need fiat badly to pay bills, why not openly sell the stake to the Steemians here? At least it won't bleed out into the market for open season of price slashing.

I am sure there are many still want to buy over.

Many minnows are still finding this is a potential platform and some are still wanting to invest onto the Steem blockchain

Just thinking out loud.

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You're right. There's a potential price shop in the very near future. Whether or not that's a good thing will be seen soon enough.

panic and trade all da crypto for canned tuna

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Judging from the past performance, it is likely to be the option number 2. I can't imaging a multimillion worth of company would do anything that big without any official statement, and I expect no statement from them either.

Even if they do, the trust is barely existed at this point of time.

Even if they do, it is important for stakeholders to realise that don't trust what they say, see what they do.

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ned has never been trustworthy. take all his words in 2018. nearly all of them are lies. here's just a few examples.

  • how he calls hf20 a "success".
  • how he likes "transparency".
  • how he talks about "development of SMTs".
  • how he talks about "decentralization" and "censorship-resistance", while talking about "whitelisting" (which is typical scare tactics used by kim jong un)
  • how he said he'll do a "livestream" and disappeared.

i'm not even surprised anymore. i hope he disappears for good. it's better for the steem blockchain.

this community needs some new leadership. cuz it never had one.

hair isn't the only similarity here.

160211-chang-nkorea-tease_cdsjmo.jpg

Damn, that's definitely scary. Depositing funds to a centralized exchange for security is such a lam excuse. Plus not staking in your account itself.....why the hell would other Steemians do it then.

Hi, @therealwolf!

You just got a 0.65% upvote from SteemPlus!
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  1. How easy is it to work with Steemit Inc when they are not transparent or just clearly very hesitent to communicate.
  2. At what point would you as a business consider withdrawing your own stake from Steem?
  3. What do you think about the HF21 and Freedom in relation to the withdrawal?

Thanks for the post!

Talk the talk, walk the walk..... Do the Hardfork!