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.
What if the witnesses put a solid plan online for the community that posits how they will finance the new chain? I asked why Ned didn't sell to the witnesses? They're broke was the answer! So, that begs the question of what kind of chain can broke people manage? What exchanges will carry the new tokens?
And I'm not arguing for Sun here necessarily. This whole charade should have been dealt with privately before a public announcement was made--that's how real businesses do things.
They are blackmailing us.
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Good post
Are you so ignorant of what is going on as to think that was any kind of a voluntary action on part of them? The STEEM and SBD wallets are "in maintenance" because the fuckers have powered up their customer funds to participate in governance on Steem. That is potentially illegal and may open these exchanges to very expensive lawsuits.
One other exchange has announced it is looking into adding STEEM because it wants to support the community.
Centralized mainstream platforms are where the real money is.
The only selling point Steem has is the fact that it is free from censorship. That is the ONLY thing about Steem or any other blockchain-based platform heavy hitters among online content creators are potentially interested in because not even they have actual freedom of speech on centralized mainstream platforms. Even when the price of STEEM was $4-8$ in the spring of 2018, Steem did not attract any mainstream content creators from YouTube or anywhere. They couldn't be less interested in the kind of peanuts the space is capable of offering at this stage of adoption. What gets their attention, however, is the lack of centralization and thus freedom of speech. Ask @jarvie, if you don't believe me. His brother has a large following YouTube.
A centralized blockchain where some single Chinese entity is dictator will not interest anyone of any value.
Man you have no clue what you are talking about, I been talking about exchanges for months, we lost HitBTC, Bithumb, Upbit, Poloniex, Shapeshift long before this incident. I was specifically told by one exchange that the reason why they had to take that measure was the result constant selling by a select few who then pull the Bitcoin from the exchange which result in lost of business for the exchanges and the customers. What blown out here, is just the ice-berg, one case, one exchange literally sent back 600K of Steem, that when things got really tight during Bitcoin bear market. Its all business at the end of the day
Btw just a little correction I have dozens of friends with millions of youtube subscribers but my brother is not one of them haha... but i got your point. And yes succesful youtubers would likely prefer giving votes over getting them because the influence of a vote is more valuable than the comparatively low amount of rewards.
Ah, it wasn't your brother, then.
False. Each witness runs their own server with their own resources.
STEEM is NOT steemit.com
Man you living in la la land, Utopian had to close down operation as it was not feasible, why are you guys on suicide 101 with this nonsense. What make you think witnesses could have maintain server?? You have to sell Steem, no vendor was accepting Steem
So what? Your statement is false. Witnesses do have their own financial resources. The one who stops being a witness is not a witness (use logic). STEEM is not steemit.com
Poloniex has re-listed steem.
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