The last 24 hours has been the most wrecking hours for the entire steem blockchain. The open letter by steemitblogs took the entire community by shock and left many either speechless or absolutely confused. Something of this sort was already being speculated from the very first time we had heard rumors of tron and steem flirting, but the day no one wanted to see had arrived.
As soon as the acquisition was made public, witnesses and a handful from the steem community went defensive mode and got ready to fortify the towers of steem. It was a logical move. There was a stranger on the doorstep and no one knew of his real intentions. Part of the community rejoiced and were optimistic, part of the community was suspicious and was scared of a hostile take over, and the remaining did not care as they counted their shillings. All of them loved steem.
An AMA was put in order. It was a complete disaster and made things even worse. A few vague statements were thrown, some very suspicious statements were made, a lot of shilling and NED sar there doing what he did best - nothing. This only made things way worse. Justin wasn't being looked at as a nice guy and let's not even talk about Ned. This led to a soft fork freezing the stake the new owners of steemit had, a decision not all were inclined towards.
Fast forward a few, a townhall and witness meetings are announced. Things are looking bright. We finally had someone who were good with marketing and relevant in the crypto scene, finally communication was on the table and things looked promising. Until, today. When the open letter was published and all hell broke loose as tron took steem in its control by voting in witnesses with stake that wasnt supposed to be used for this purpose as well stake on exchanges from liquid that wasn't there's.
Here are a few arguments. Tron made this decision without communicating with the community - the hard fork to freeze the accounts was done in a similar fashion. Not to mention, not agreed upon by many. Giving tron the benefit of the doubt-maybe they didn't know how steem worked. Well, they weren't guided either. But then again there are claims of reaching out to them but to no avail. Maybe Justin panicked or thought he got scammed by Ned and was trying to protect his investment. Whatsoever it may be, using others funds to power up accounts was a low blow and bordeline illegal or maybe even straight up illegal.
Well, this isn't something to think or havea very educated opinion about when you area simple content creator like me. I really do not have too much understanding of many of the workings no matter how much I try to learn. But I do know this could hurt a lot of investors as well forever change the shape of and steem itself.
Reading through the open letter a lot of it seemed like there's so much within the fine print. Like everything is free, nice and smooth - but only if certain conditions are met. The future of steem and it's governance kind of feels like walking in very thin ice while carrying a yak. Also, a lot of developments and plans mentioned in the letter were already being worked upon and already in discussion - they really aren't doing anything new or wow worthy.
Neverthless, for the first time in the entire journey of my steem life have I seen steem come together as one solid community with no selfish intentions. The community is finally acting as one without any drama or circle jerking or hidden motives - it makes me smile.
For now no decisions have been made. We have only decided to take more time to think and move forward while making sure that this doesn't go unnoticed.
And here's some things I did suggest in line with open letter:
For the power down: The only way I'm gonna be okay with shorter powerdown is if the powerdown has a toll gate.
Toll price proportional to the amount of powerdown and time taken to powerdown.
Tolled amount is burned.For the massive loop hole exposed in the dpos:
We need to make sure there is a period of time an account cant vote for witnesses after powering up....
Why was I personally against freezing?
Freezing anyone's account is something I was always against. It simply is against decentralization. And once you freeze one account you will always fond reason to freeze others.
It's lovely to see the community come together. We will overcome this. We won't need to bow down, nor will we need to 0 and start a sister chain.