A second try to get some clarity - how exactely did the early whales get their massive Steem Power

rondras (61)in #steem • 5 years ago

Hi everyone,

six months ago I tried to research the early days of Steem. I read the chats on bitcointalk and looked at the chain trying to understand what really happened. I understood a lot, but one thing remained open - there were some massive amounts of Steem earned by some users, for which I could not find an explanation. In order to get clarity I made a post phrasing my questions - but nobody was able to come up with a reasonable explanation. (Link to original post)

Now, after the soft fork, these ninja mined stakes are discussed again - and I will give it a second try:

Does anybody know which was the mechanism which allowed e.g. the account @ben to withdraw vast amounts of vested Steem Power without ever having mined or received any transfer?

I hope to get some answers this time....
all the best,
Tim

#steemit #softfork #ninjamine

5 years ago in #steem by rondras (61)

$3.35

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davedickeyyall (73) 5 years ago

That's a damn good question..

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rondras (61) 5 years ago

...which not many people seem to know the answer to... or do not want to answer...

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valued-customer (67) 5 years ago (edited)

Since both @dan and @ned have left, I suspect no one here is able to provide the answer to this question. Neither am I surprised this question has never been answered previously. The ninjamine was clearly undertaken to centralize governance by the founders while avoiding regulations on ICOs. Since intent is a critical factor in criminal prosecution, those answers are potentially liabilities, and I would not expect counsel would recommend the folks that could provide them do so.

It is mysterious how @ben was able to withdraw Steem the account never received.

Thanks!

Edit: I did find this

benspost_20200224_121038_steemd.com.png