A post written by @therealwolf made a strong request for @ned and Steemit Inc to put out an official notice about why they Steemit accounts are being powered down.
https://steempeak.com/steem/@therealwolf/dear-ned
These transactions appeared along with the memo.
This is just another in the ongoing moves in the saga that is Steemit Inc. I cannot speak for everyone but it seems that Ned has lost the confidence of the community. In fact, it is to the point where the actions of himself and his company do not warrant the benefit of the doubt. As the article said, either they are hiding something or are completely incompetent.
Which is it?
The announcement in November that sent shockwaves through the Steem ecosystem showed us how centralized Steem still is. What is good about this is, at least in terms of Steem Power, the distribution is being altered.
Nevertheless, this bipolar behavior from Ned when the community is on edge does little to reassure people.
Am I worried? Not at all.
One of the major quests in 2019 is the Steemit is not Steem initiative. We need to drive this point home. Steemit is not Steem.
Yesterday, I came across a Witness report that stated the code for RocksDB appears to be going well. There is progress being made. So in spite of the antics, that seems like it is forging ahead. (I wish I remembered who put it out)
Little is being done on the SMT front although that is expected. The transfer over of the data structure was the priority. That much was announced.
Over the last couple months, we saw a lot of talented people step up. We know that @blocktrades has the ability to handle the coding of the blockchain if needed. They are experienced in this arena and might even do a better job than Steemit Inc.
We also have applications that are moving ahead with updates. The announcement by @magicdice yesterday was exciting.
Essentially, we are seeing the basis for a Steem economy forming. It is true we are still a while from that becoming a complete reality but the foundation is being laid. Steem is still outpacing most other blockchains with the progress it is making.
We tend to magnify our problems while minimizing others. There was an article this week that came out but an ex-employee of BitTorrent who said that Tron will NOT be able to handle the volume of transactions. According to some on here, Tron was the blockchain that was going to put Steem out of business.
Since I joined Steemit Inc did a horrible job of communicating with the community. Was it arrogance of simply the fact they lack the knowledge of how important it is? I cannot answer that and will say they are not the only ones doing this. I see other projects who lack any communication ability whatsoever.
Either way, the optics on this are terrible. It is also another reason why the community needs to do all it can to move towards further decentralization. In the long run, I believe all of this will help this blockchain.
A Whale powering down does not inspire confidence in the community. When, however, it is one that showed itself to be a bit of a problem child, it could be a good thing. We need to alter the landscape of the distribution of Steem Power. Having a major power down makes everyone's account more valuable in terms of their stake.
While Steemit did not say how much of the Steem will be sold, if any, we do know they have a regular amount they move to pay bills.
Personally, I do hope some of that stake finds it's way to the open market. We need that to get into the hands of different people.
All part of the growing process.
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