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RE: My Thoughts: Steem Witnesses meet with Justin Sun (1st contact)
Exchanges should never have got involved in this in the first place, boycott them and never use them again would be my advice.
If an exchange is using their power (being paid off) in this manner they are no longer doing their core business, how could anyone trust them! Let us see once this is settled what happens to their users.
Domino effect....
Agreed... but there is no real terms and conditions there... after all, however, I think people do store crypto there for easy trading and non-technical storage. I prefer to do otherwise... but I do leave small amounts there... and lots of small amounts add up!
However, the biggest problem was that it was at all possible... this points to a flaw in the current dPOS implementation... after all, if a large account (exchange or otherwise) can have that much of an influence, then it was NEVER decentralised to begin with! We were just naive and didn't notice....