When I created my Steemit account some 7 months ago, I will blessed with around 27 Steem Power to allow me to use the network. This has all gone now. Who undelegate what? I didn't know who really delegated the SP until today.
(Credit: here)
The delegated SP
It would be impossible for me to show that I really had 27 SP as delegated power when I started Steemit as I do not know where to look for that information but I took an example as the sight might be familiar to us.
All those who created their account using the normal way of authentication, providing the mobile number and waiting for the approval would see an amount of SP that was delegated to us. In the case of the above screenshot, it is 2.483 SP. When I created my account, it was around 27 SP.
For those who know that they should be having an inital amount of SP, it would be better to check your wallet as it might be gone!!!!!!!!
Who was the delegator?
When I created my account nd till now, I never bothered to find this out as all I know is that it allowed me the minimum bandwidth to be able to post, comment and upvote on Steemit.
The above screenshot is from my own account and this what SP gives you in the Steemit company. How much bandwidth and how much you can utilise your account.
Who delegated power to us in the first place?
Most of you, who is like me, and did not check it is @steem who delegated the Steem Power to us in the first place. When we create an account, it is this account that delegates power to us.
Whether there is a person or an algorithm behind the account is up for debate as I do not know the whole internal working of Steemit.
The @steem account has been created in March 2016 almost the same time the Steem network was created.
History of
@steem
If we check closely the account of @steem, it is surprising there is no history when you check it on Steemit.
The wallet history is surprisingly empty for an account that was created in 2016 and there is no post or comment or curation reward.
Who funded the account in the first place is unknown. Yet the account is worth around $49.5 USD by today's exchange rate.
The questions?
I don't really mind the account in the first place at it is the one that allowed me to use Steemit in the first place.
But on the other side, here are some questions that I find puzzling:
- Who owns the account?
- The history of the wallet is empty so how come it is worth over 49 million USD?
- Does this mean all records on Steem is not written on the blockchain?
- Who determines what is written on the Steem blockchain?
- Is it truly decentralised?
- If we keep having high SP, who guarantees that there is a code behind that will be executed in the future that will take all of the SP that we have invested without any warning?
- Except if there are any sources that advertised that
@steem is going to undelegate, the account itself didn't provide any information as a post.
- Is Steem flawed? We need to have a section for important updates that goes to everyone either through mail or other means as when we register on Steemit, we provide our email address and I believe important information can be sent to all of us through mass mailing and it doesn't even cost that much!
Conclusion
I may be wrong on many of the questions that I have asked as the knowledge may be somewhere but what eventually bugged me is that there was no official information about it and the account that delegated power to me in the first place is unknown with the the fund that it has not written on the blockchain.
A special mention to @mahdiyari, who is also a witness, is proposing to delegate his own Steem Power to accounts who are low on SP and is not able to comment, post or upvote on Steemit due to the undelegation. If you want some help, do check out his post here.
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Good luck to everyone ?
Don't forget to check if you are a winner every Sunday at around 19 00 (GMT)
(created by @readallaboutit)