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RE: De-Spinning the Spin - The real truth
Justin can just do whatever he wants with Steem today.
Justin doesn't control 17 of the top 20 witnesses at the moment, so no changes can be implemented (stalemate).
The exchanges backed off their votes - but remain powered up. They can swing it his way at will. The illusion of decentralization is just an illusion.
@ned had this stake for four years and never assumed control of governance. That doesn't mean he didn't have the stake.
But in order to vote, they have to power down and that appears to take several months to do, to power down.
No. To vote for witness you must be powered up. Powering down removes your ability to cast votes of any kind on Steem
Oh ok. I'm sorry, I've been confused by the Tron Steem Drama. I'm trying to understand the details. For example, I'm guessing that crypto exchange websites have Steemit accounts. I'm not totally sure how it all works, but I am guessing that these Steemit accounts work as the middle man between their exchanges and the Steem blockchain. I have sent some Steem to Poloniex and Bittrex through their Steem accounts.
So, based on what I know, based on what I've experienced, it seems that these accounts have access to Steem on their exchanges and access to the Steem blockchain. So, I believe that they took some Steem from some exchanges that they had access to and powered up their SP on their Steem accounts to then vote for witnesses.
I believe Tron Overlord Justin Sun was upset as he really wanted to help those exchanges power down as fast as possible so that they could return Steem back to the random people they borrowed or stole from. I believe that some of those people did not know that the exchanges were doing this and that Roy Liu and Justin and Tron really wanted to rush things along to make sure that nobody notices. But then if they power down, then they can't continue to vote with the same voting power. And I am guessing that people can try to vote back in the previous witnesses back into the top twenty or top thirty spot as they did to an extent last week.
I feel like Tron is in a sticky situation. I don't know what I would do in their situation. Do you keep the SP so you can continue voting or do you return the Steem to the people and admit to the actions that they took. Well, either way, they did what they did.
Negotiate with the "real" witnesses. Buy the steem-power you want and buy liquid steem to replace the stolen steem (on the exchanges).
Yeah, but Tron is still guilty and they cannot erase the evidence of their crimes.
I'm not sure their ethical violations qualify as actual "crimes".
Are you aware of a specific criminal statute they've violated?
Depends on your definition of crime. Tron got exchanges to steal or borrow Steem to smuggle into private and personal Steem accounts that those exchanges own on Steemit to then vote or upvote witnesses and then as heard from Roy Liu and Tron Overlord Justin Sun, they were trying to rush the funds, the Steem, to power down and return the dough back to the clients on those exchanges as quickly as possible before anybody could notice it seems.