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RE: Thoughts on the Exchange Bailout
We don't have any such power. The exchanges remain powered up, and in possession of the stake requisite to effecting governance of Steem at their sole option - which they have already demonstrated willingness to do.
Wrong, thankfully. https://steemd.com/witnesses
You're saying this figure includes Steem on exchanges?
That figure is a Steem (the network software) statistic that tracks how many blocks were produced compared to how many witnesses were scheduled recently. It's there mostly to indicate forks, so a forked witness or group of witnesses will automatically stop producing if their software sees that the participation rate is say less than 25%. It's a setting in the software's configuration file.
Ok. Well, my guess was wrong. I see we have ~half the consensus witnesses, but I fail to see why the exchanges couldn't quickly change that. They remain powered up. Pretty sure that's why.