Musings about SF 22.2
I see situations as puzzles to figure out. I try and leave how I feel about an instance out and look for the why it happened.
It is in human nature to jump to conclusions about how life around them came to be or will affect them in the future. What they see as 'right' or 'wrong' is based on someone's personal morals.
I believe most people are very good people until they have proven otherwise. Even then, if I have known someone for a long time and see them take action on something in a different way then I would have thought, it makes me wonder why. I then start looking for The Why.
Along comes the reversible SoftFork 22.2 to the Steem Blockchain.
Morally I do not agree with what happened. I understand the principle of why the soft fork was done. Yet, the more I try to go about my days, the more questions I have.
Here are some of my thought processes after the initial shock of learning the reversible SoftFork 22.2 had been done.
The fork is reversible.
About fifty owners of large quantities of Steem all went into a chat room with the top 20 voted on Witnesses of the Steem Blockchain.
If you have been on the Steem blockchain for any amount of time you would know that fifty plus, high ranking Steemians, all in one room, is a recipe for disaster. Meaning, the chances of people in that chat room agreeing on anything is a billion to one odds.
The post Decentralized Governance by @Ecoinstant is a good example of this.
Yet they did agree.
Why?
The chain is in danger of becoming lost for all eternity due to the 21% stake (Ninja mined) which was bought along with Steemit Inc.
Those are the facts as I see them.
But......
Why now? Why not implement this Soft Fork when Ned Scott owned the company? He was in a position to do the very same thing as the new owner of Steemit Inc yet it never happened.
If you read the Steemit 2017 Roadmap post there is a section that explains what Steemit Inc was going to do with some of their 41% stake.
Decentralizing Stake
The Steemit, Inc.-controlled primary account, @steemit, which holds approximately 41% of the platform’s Steem Power, will be gradually divested of its holdings in an effort to increase promotion and development of the platform, and this distribution shall further the platform’s security through decentralization of voting power. ~steemitblog
We know this never happened when it came to marketing. Ned never stayed true to his word about how the Ninja mined money was used. Why was action not taken? What information are we missing? The situation is not as cut and dry as we would like to think. It can not be. There are way too many questions left unanswered.
The post by softfork222 explaining why the SoftFork has been implemented states the ninja mined stake as the main issue with the new owner of Steemit Inc.
The Steemit Inc ninja-mined stake is a special case, as up to this point it has been clearly declared on many occasions as earmarked solely for the development of the Steem ecosystem, and to be non-voting in governance issues.
For now, because there has not been a clear declaration from Steemit Inc on the use of this ninja-mined stake, Soft Fork 0.22.2 has been deployed to allow for the entire community to discuss how best to achieve the original goals that this ninja-mined stake exists to support. ~ softfork222
We do not have all the facts. We can not. What held Ned Scott accountable to not use the stake in a harmful way?
Fifty-plus top Steemians all went into a room and came out agreeing on implementing the reversible SoftFork 22.2 so the Steem Blockchain will be saved.
~per the Top 20 Steem Witnesses
The only fact that we have.
Just my thoughts and only my thoughts.
Help someone smile today. It can not hurt you.
Snook
Steem Witness's I support
Enginewitty!, Jackmiller!, Guiltyparties!, C0ff33a / Deranged!
Why is an intriguing question, isn't it? We know who, what, where and when. The why of it is unknown.
Just cause it's unknown doesn't mean I don't have an opinion :) I never let having all the facts slow me up any.
I think it's because the 50 felt genuinely threatened. No doubt Ned was a potential threat but he was such a bumbler that it was easy to turn a blind eye to the possible threat to the entire ecosystem.
Justin Sun is not a bumbler. I suspect at least part of this simple fear that a potential problem suddenly increased it's potential.
Very nicely stated Snook. Thank you for this.
You are very welcome!!
So if the stake was 41% in 2017 and Justin bought 20% of of the total Steem stake this month... it went down. It had to go down for the simple fact that Steemit Inc was using the stake to cover expenses over the last 18months
Thank You. I took that part out!!
Today is the day of level headed posts about the soft fork.
Well done.
@quochuy has a great summary of the pros and cons.
Thank You!
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