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RE: Thoughts on recent witnesses discussion with Tron's representative, Roy
Time is on the Steem side. The longer the exchanges wait, the more pressure on Sun to hammer out a solution. It also means he has to wait longer to get back his investment.
Also, if the exchanges liquidate, then all the witnesses with Steem on the exchanges can power up to further consolidate power. It’s a beautiful stalemate.
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I kind of disagree with you @shainemata
Time is neither on steem side or Justin side. Time is against both parties. And let's hope that witnesses will not push Justin into decision to finally give up on this investment and cut costs.
for the first time steem really seem to be a bit decentralized :P
Well, not really. This whole mess is happening exactly because this never was a decentralized system.
It was always "whoever got the most money control the chain"
The threath of exchanges using client funds to do something like this was always there, but it kind of a common sense that, because of the 13 week power down, it would be something really stupid for exchanges to do. Yes, they would control the chain, but they would risk locking up their clients funds for a long time.
It's a move that is so... stupid in a business sense, that no one even considered that this would happen.
Now, there is a huge possibility to learn here, and make changes on the code to improve the governance system (wonder why we never saw the witnessess much interested in this.... hum....).
Witnessess just need to lick their wounds, and start to negotiate with Justin like grown ups.
After that, there is a lot of ideas of governance improvements posted on Steemit already, starting with how the witnessess are elected.
Fully agree to this
Yea, interesting stalemate. It is beneficial to STEEM price at least for the very near term