The STEEM/HIVE Saga is becoming a Case Study for all of Crypto...

in hive-148441 •  2 months ago 

They say all press is good press right?

Well, hopefully that is true regarding the latest happenings surrounding STEEM/HIVE and all the subsequent drama.

One Ari Paul thinks the current happenings are "the most important things in all of crypto right now", and are likely going to go down in history to be studied by future DPOS/POS projects...

This is what he had to say on the matter the other day:


Cool, so who's Ari Paul and why should I care?

This isn't just some guy talking on Twitter about STEEM/HIVE and the subsequent drama...

Ari Paul is is the co-founder and CIO at BlockTower Capital which at one time was said to be one of the largest crypto hedge funds in the world.

I am not sure what their AUM looks like currently, but they have been considered one of the better crypto funds out there for years now both in terms of their leadership/returns as well as their knowledge of all things crypto.

And this is one of the few, if any, times he has ever talked about STEEM/HIVE on a public forum...

The world is certainly watching and STEEM/HIVE are center stage.

We are getting more press now than we could have ever dreamed previously. Now, hopefully some of that can be parlayed into some good outcomes as we move forward...

Stay informed my friends.


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All this confirms my perception that we should make the election of witnesses more difficult to attack, this is the vector that was forced by JS and we remain with the same formula. As Einstein said:

The definition of insanity is doing the the same thing over and over, expecting different results."

Why have we not already changed the witness votes from 30 to 5?

That would solve anything?, maybe a solution could be having an algorithm of vote that computes something like 50% stake 40% veterany (i mean that if you are in the plattform since some time your voice should be more listened) and 10% reputation. Just an idea for making the system more resilient to sybil attacks.

I actually think the best solution would be 1 vote per account but you can choose the percentage you would like to use per vote, meaning you could vote on one witness with 100% of your stake, or 4 witnesses with 25% etc etc etc.

I just assumed changing from 30 to 5 witnesses votes would be an easier (and quicker?) code change.

Yes thats a solution much quicker to implement, easier to code and probably also easier to outwit, instead of having one or a few accounts to manipulate the voting system you'll need some more with the same result, the DPOS broken.

My suggestion is to implement that change in the vote power (only for the election of the witnesses) because that way, you can't simply stake a lot of money creating some accounts but you'll need to have old accounts (so you will need some more time to manipulate the system allowing a reaction also) and with reputation, this way you'll add difficulty to the manipulation.

The change from 20 votes to 2, 10 or whatever amount you want only changes the number of accounts staked to allow that manipulation.

At least is my understanding of the problem, I could be wrong in this, if there is someone that can explain me how the change of number of votes for witnesses hardens the posible manipulation, I invite him to do so.

Well is what it does is require the amount of stake to control all the top 20 witnesses to be significantly more than it currently is. Had witness votes even been 10 instead of 30, what we saw on STEEM never would have happened...

Ok ty for the explanation. I thought that the stake needed was the same, just in more accounts. 👍

More publicity is good. Especially if HIVE survives. And decentralized crypos are pro-survivers.

did we forget steem was always centrakiEd and ned scott sold the whole thing to justin sun? U giys made hive... u do t get to also have steem... the asians are just as smart as you whites... give it up you lost steem... now work harder to get hive on top 100 page of cmc and spend mkney on ads

Im tired of the complaining by nerds who never pay taxes anyway lol

Straight up Gospel right There ☝️from the COO no less!

SteemIt Ackza.png

If it goes to court, which it should, then the case should be tried in Nuremberg Germany. Let the witnesses know that "I was only following orders" is not an acceptable excuse when it comes to violating an individuals rights and property.

Why Germany?

After the end of world war two, when the Nuremberg trials, 'Held for the purpose of bringing Nazi war criminals to justice," took place. even though it was a military tribunal trial it was through international laws that the trials were held. Granted this is not as atrocious as the issue then, however it expands through many countries and many laws, and has the potential to impact many countries and laws. There were three exchanges involved in the initial attempted take over, so if there is a more fitting place for a world court hearing to resolve the issue for each individual involved then it should be there.

There may be individual involved that are completely not protected by their countries laws, it may not be considered a crime in some countries at all, and there may be no recourse for some individuals. The only solution to get a real settlement would be on the world stage.

I was hoping you weren't comparing this to Hitler and Nazi Germany... no luck :)

It is a world wide issue, would you rather each and every person caught up in the theft have to file separate lawsuits in their own countries, and then have the possibility of Sun's lawyers showing the issue was already resolved to all the other countries. In America you are supposedly protected from what they call double jeopardy, mean not being able to be tried for the same crime twice.

The use of Nuremberg as a location was symbolic in only that it was the first place a trial that resolved a problem that spanned many countries took place. A large number of people involved in social crypto sites have a deep mis-trust of governments.

Where would you suggest a trial be held? At UN Headquarters? At NATO Headquarters? In Beijing perhaps? Or maybe in France? Or do you want each and every person to hire their own lawyer and not have the ability to file a class action type lawsuit?

I myself am not part of the frozen accounts, I have not had my steem stolen yet. Block Chains are not contained in a single country, they are contained in the world.

Solo como nota al margen: Ya existe un tribunal internacional activo, La Corte Penal Internacional CPI con sede en La Haya, Holanda. Y aunque solo juzga crímenes de guerra, esta la figura del Arbitraje Internacional para dirimir disputas comerciales. Agradezco estas publicaciones que aportan luz acerca de este mundo virtual que aun no comprendo.

The Hague would be another good place, I had forgotten about their court, I just think the trial should be done in a very neutral location, and a symbolic one also that has a history of revealing the truth.

Very interesting. So far prices have broken Support at $.30. I would like to see a Rebound which would possibly validate this "any news is good news" mantra

I don't think it will be reflected right away, but maybe over time as more users migrate over and more things get built by people that are not already here...

I've been saying this, the steem debacle is going to have an impact across crypto, and I can't say whether it will be a good one or not. I do think we should be pushing Hive hardcore to make the most of the spotlight we are standing right next to. I am trying.

Allied armies huh? All the more reason to get a variety of large investors...if there are competing forces, no one side will be able to dominate the network. Sometimes I wonder if countries will end up being the main miners of bitcoin in order to remain relevant against companies which can overpower them.

That was the thought though most countries are reluctant to get involved with bitcoin in that capacity thus far.

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Una interesante información @jrcornel siempre acompañando un buen contenido para que nos tengamos información de primera mano.

Post interesante para lo que somos nuevos por aquí. Saludos!

Gracias por mantenernos al tanto amigo @jrcornel. Saludos

As you say, any press is good press, and while it's not entirely wholesome (I think) to have HIVE's birth marred with so much conflict and controversy, it's getting the word out there about our existence. So, that's a good thing, I guess :-)

I think it's a net positive, though not ideal as you mentioned.

HIVE.D! Great Info! TY.

Screen Shot 2020-05-23 at 5.43.05 PM.png

I am happy that someone of his stature wrote a very long Tweet about Steem/Hive, and certainly the publicity may help both projects be infamous or famous, not sure which the case will be at this point.

I also noted that Binance has indicated they will run the latest hardfork, so their customers wallets can function, but also indicated they will drop Steem from 3 trading pairs to one trading pair.

I wonder if that is a prelude to delisting Steem?

If they do, will others follow?

What trading pairs are they dropping?