This isn't about losing power or money. This is about mitigating the high possibility that the entire chain would be shut down. When Steemit Inc sold their company and stake the messages that were received from Tron and are still received (look at their Medium article) is that the intent was for the Steem blockchain to be cannibalized, STEEM swapped, and all the dapps that people built on Steem to be moved to Tron. Tron decided to make this decision for independent companies and dapps, on their behalf. That's why this had to happen.
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For whatever noble reason you may think (or imagine), it doesn't justify "THEFT".
The bottom line is Justin Sun PAID money to buy SP like everyone else. There were no conditions EVER placed on that steem in any formal manner (a blog post or promise doesn't count as restricting that Steem). It is not Justin Sun's issue, if that SP from Ned was not valid, then the restrictions should have been in place long before now.
Many (if not all) of the witnesses were well aware that the SP existed and chose not to do anything about it at any time for YEARS (until it was sold to someone that they felt threatened by). That puts the witnesses into a situation where they have NOT been "duped" by Justin Sun and in fact, they have now opened themselves up personally to being sued for:
a) possible collusion (20 witnesses had secret meeting with possible backers to "take this guy's stake"???), b) possible extortion (put your money in limbo land unless you do what pleases me???), and
c) outright theft (taking something that belongs to someone else and doesn't belong to you).
They better be prepared to spend $100k or more to defend themselves, because its a no brainer this guy will sue them too if they don't remove this.
3 This group of witnesses just created a situation where Steem is pretty close to guaranteed to go away now. Because a) they will lose this battle in court b) they have taken actions that are major deterrents to investment in Steem by real money and c) they have destroyed the myth that this is a "decentralized" exchange (and that will be a hard one to ever shake again).
I'm not saying this because I care about Justin Sun, I'm saying this because I have been through many things like this before. I've seen how it will play out and it is a very stupid decision. They may think (and have some people convinced) their actions are noble too. But that will never justify taking someone's private property because you are worried about what he may do with his intentions.
What's the solution you might ask? If they were really concerned about Sun taking over and doing something unsavory, they should've bought more Steem. That's what a real decentralized platform would've forced as a solution.
ps... don't think for a second this is something that "had to happen". That's absurd.
a) No. Did not happen. b) No, mitigation until a solution is obtained. c) Not what the code does.
Think for what would happen to all of the Steem ecosystem, users, dapps and communities if they suddenly have no blockchain to exist on and are mandated to move to someone else's corporate controlled blockchain.
Yes, buying STEEM is definitely a good idea.
I appreciate the effort and never have a problem with someone sticking up for what they believe!
My respect to you :)
Thank you and likewise.