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RE: Steem Consensus Witness Statement: Code Updated
We are looking forward to seeing the Steem blockchain become an even more decentralized place to develop our interface. We believe these moves can produce a step in the right direction ... the early mined stake of Steemit INC has not been used for 4 years to impact the governance of the chain and it was kept that way as trust based agreement with the community that luckily worked until now, we were always at risk but the risk never came to fruition.
NOW... We feel much more secure with it being a trustless system in the future.
https://steempeak.com
It's one thing to prevent the stake from witness voting it's another one to prevent transfers and selling. Even if they did do that, powering down takes 13 weeks which would have given the community 6 or 7 weeks to prepare a countermeasure should they power down, transfer and power back up.
besides the giving reasoning: a started powerdown could only be stopped either by the keyholder, or a hardfork. A hardfork would be a way more drastic implementation which also requires exchanges to update the software.
Even ONE week would have a massive effect. Not necessarily unilateral control but still enormous influence, by itself probably in the top 5 stakeholders on the entire platform. It isn't practical or meaningful to talk about non-voting without preventing power down in my opinion.