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RE: Is Steem Centrally Controlled?
If Steemit Inc powers down, doesn't that action effectively DECREASE the centralization of the Steem blockchain?
If Steemit Inc powers down, doesn't that action effectively DECREASE the centralization of the Steem blockchain?
Powering down alone is fine. The stated intention of moving such a large stake to exchanges which could easily be moved back to opaque accounts and used to control the network is what should concern us all. We're going for more transparency on how Steemit intends to use that massive, centralized stake, not less. If they were to power down and dump on the market, that would have a direct impact on all the value we enjoy as well, which, I think, concerns many also, especially if they believed that stake would be used to fund future Steem and Steemit development.