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The Steem News @ 4 March 2020 - The Battle for the Top 20 continues

pennsif@pennsif (77)2364d

The drama of the Steem/Tron partnership continued today with no promising route forward.

Following the inconclusive meeting between Justin Sun and selected Steem witnesses last night attention returned to the witness rankings.

The large Korean stake holder @proxy.token played a decisive role causing major shifts in witness positions.

The Meeting between Justin Sun and the Witnesses

As reported in yesterday's Steem News a number of Steem witnesses were invited to a first meeting with Justin Sun yesterday. The meeting took place at 2am UTC on Zoom and was invite only.

It was attended by Justin Sun and Roy Liu from the Tron Foundation, as well as Eli Powell of Steemit Inc, and well over 20 witnesses including @fredrikaa, @starkerz, @cervantes, @someguy123, @followbtcnews, @roelandp, @themarkymark, @klye, @netuoso, @ausbitbank, @lukestokes, @aggroed, @liondani, @timcliff, @svemirac, @theycallmedan, and @anomadsoul.

The meeting was recorded and made available...

And also at...

This meeting had been brought forward by a day.

A number of Steemians have posted their summaries and commentaries on the meeting including @ura-soul, @bengy and @taskmaster4450...

The Battle for the Top 20 continues

Aside from the continued Twitter storms against Binance and Huobi exchanges, the focus of attention today was on returning the original witnesses back into the top 20 positions.

The day started with at least seven witnesses back into the top 10, and even more at one point.

Then the very large Korean account @proxy.token arrived on the scene and used its 6.4 million Steem Power vote to return all the Tron backed witnesses to the top 20 slots.

This shock move was explained in a post from the SteemCoinpan @sct account...

The post expressed concern about the current situation and stated that @proxy.token will vote for the original witnesses as soon as they confirm their position on the following issues...

  • Are you willing to shorten the SP power-down period to three to seven days from current period?
  • Are you willing to remove down-voting policy of STEEM blockchain?
  • Are you willing to introduce smart contact into the STEEM block chain?
  • Are you willing to introduce a paid subscription model?

Downvoting in particular has been an issue of concern for the Korean community on Steem for some time and was in fact raised at SteemFest.

Negotiations were hastily initiated between a couple of of the top witnesses and representatives of the Korean community.

After an hour or two it was agreed that @proxy.token would vote for 7 of the original steem witnesses to move them back into the top 20.

@blocktrades. @good-karma, @roelandp, @yabapmatt, @anyx, @someguy123 and @ausbitbank are currently holding slots #1 - #7...

While 7 is not a hardfork enabling super-majority, it does provide the required 4 witnesses needed to block any hardfork initiated by the Tron backed witness block.

This will prevent the hardfork proposed by Steemit Inc / Justin Sun to reduce the powerdown period to 3 days. The Binance and Huobi accounts are still blocked therefore from a rapid powerdown to restore the STEEM liquidity to their exchanges.

With neither group of witnesses having a super-majority to implement changes a stalemate has now been reached until some major by either side.

It is understood negotiations are going on behind the scenes.

The next public happening will be the open Town Hall scheduled for Friday 6 March. No details of that meeting have yet been released.

Twitter Action

Steemians have been extremely vocal today on Twitter, with the Binance and Huobi exchanges bearing the brunt of their attention.

Others have been sharing their thoughts to their followings including Steem's co-founder Dan Larimer...

I’m super excited to see how STEEM community is getting out the vote and keeping control decentralized. #dpos is resilient when under attack.

Former owner of Steemit Inc, Ned Scott has also been active on Twitter today...

And in a long 12 part Tweet, Ned begins...

I love both Steemit and Steem. They are weird and awesome. I've been humbled and proud to see a thriving community grow from nothing. From the people creating amazing content, to developers building new dApps, to the witnesses who secure the chain.

Reaction from the Community

The community has been very vocal in expressing their views on the current situation, and in encouraging everyone to power up and vote for witnesses...

Coverage in the Crypto Media

These current activities on Steem are attracting considerable attention in the crypto media...

And in other news...

@streetstyle has posted the winners of SPUD XI - @stuffbyspencer, @techcoderx, @mafalda2018...

@radaquest has announced some new free games, and a profit sharing scheme...

IBT Survival Island @ibt-survival has released demo 3 of the game...

@hashkings are looking for funding support through Fundition and Patreon...

@blocktrades has formally announced that they have suspended the buying and selling of STEEM and SBD.

Their liquid STEEM has been powered up for extra witness voting...

Steem Proposal System update

The Steem Proposal System (SPS) today has a daily funding budget available of approximately 2732 SBD.

There are now 10 proposals receiving funding from the SPS - @yabapmatt (Steem Keychain), @netuoso (Vessel Desktop Wallet), @thecryptodrive (SBD Potato Top Up), @anyx (API infrastructure), @howo (SMT testing), @steemonboarding (Steem Onboarding), @themarkymark (Global Blacklist API), @fabien (Steem Connect improvements), @openseed (OpenSeed : Cross-Platform Off-Chain Solutions) and @steempeak (SteemPeak developments).

These successful proposals are currently receiving a total of 1335 SBD per day from the SPS...

There has been a sudden upsurge of funding activity on the SPS - possibly as a side effect of witness proxying which is reflected on the SPS voting.

Ten proposals are now being funded with the latest addition @OpenSeed gaining its first funding today. One of the OpenSeed founding team is @andrarchy who has just resigned from Steemit Inc.

KEY DATA  [ from CoinMarketCap & @arcange ]

Steem price US$ 0.190 05 Mar '20 2.58am UTC
CoinMarketCap Ranking #78 05 Mar '20 2.58am UTC
FCAS Score 757 / A 05 Mar '20 2.58am UTC
SBD price US$ 0.814 05 Mar '20 2.58am UTC
No. of Whales 45 03 Mar '20
No. of Orcas 369 03 Mar '20
No. of Dolphins 2217 03 Mar '20
No. of Minnows 9333 03 Mar '20
Alexa rank (steemit.com) #15,704 04 Mar '20 11.11pm UTC
Unique visitors (steemit.com) 199,595 / day 04 Mar '20 11.11pm UTC
Page views (steemit.com) 459,068 / day 04 Mar '20 11.11pm UTC

Follow @penguinpablo, @steem-data & @steemdapps for more statistics.

This is #275 (04 Mar '20) of this daily news service.

[ graphics & images by @pennsif ]

Comments · 11

  • @arcange(79)· 2362d

    Congratulations @pennsif! Your post was mentioned in the Steem Hit Parade in the following category:

    • Pending payout - Ranked 9 with $ 33,56
  • @steemitboard(66)· 2363d

    Congratulations @pennsif! You received a personal award!

    Thank you for the witness votes you made to support your Steem community and for keeping the Steem blockchain decentralized

    You can view your badges on your Steem Board and compare to others on the Steem Ranking

    Do not miss the last post from @steemitboard:

    Use your witness votes and get the Community Badge

    You can upvote this notification to help all Steem users. Learn how here!

  • @jacobpeacock(74)· 2363d

    Excellent recap @pennsif!

  • @streetstyle(72)· 2363d

    oddly I am starting to like all the drama and the attention and the fight that it has brought out is Steemians.... I do believe we need to with this battle no matter what, but IF WE do, it will be one of the most defining moments in blockchain history.

    !popcorn

  • @darrenfj(62)· 2364d

    always good to get your posts giving us the lowdown!

  • @shanibeer(74)· 2364d

    Good to hear the situation has been stabilised by user stake so that negotiations cam take place. Equally good to hear that discussions are going on in the background. The ideal would be a swift win-win resolution and conclusion so that we can move on. Negotiations are going to be complex: there is the (lack of) development team and how any replacement would be financed and managing the resolution of the ninja-mined stake without a dump. While stakeholders like myself are not dependent on an income from our stake, there are others working on the chain in various ways that do. We don't want to make that impossible, as it is part of the strength of Steem. Well done to the community for mobilising, keep voting, let's get everyone engaged, that's another strength we can build on in the future.

  • @raj808(77)· 2364d

    Hi @pennsif

    Great summary as usual. You missed an article I put out on medium which was taken up by a crypto/steem publication called steem world.

    https://medium.com/steem-world/trons-hostile-take-over-of-steem-blockchain-77a0b2120147?source=friends_link&sk=01d28c78b15894ff3e65b1c50056b8c4

    The steem version of the article uses more terminology that steemians know:

    https://steempeak.com/hive-148441/@raj808/an-amq-answer-my-questions-with-justinsunsteemit-tron-s-hostile-take-over-of-steem-blockchain

    I think it's very important at this time to get the facts out on places like medium, and twitter so that this doesn't end up a steem discord echo chamber as things so often do with steem issues. I've been on twitter, like many others, for many hours a day for the last 3 days.

    A lot of people don't understand PR, and why Justin Sun is saying what he's saying on twitter. With knowledge come power, and the tools to provide a clear, consistent counter narrative based on facts. That article provides a perspective from someone who has experience and knowledge working in PR in the past.

    I've listened to that YouTube video of the witness meeting with Justin Sun and I'm pretty sure he's just after getting ROI at this point. Seems Ned might not have given him all the facts.

    Anyway, let's all keep the pressure on with tweets, especially with exchanges as that is the biggest story to my mind because it seems the legality of what was done is suspect at best.

    Together we're all showing what people power on dpos is all about!

  • @skepticology(58)· 2364d

    Ned's Statement on early mining and growing network.

    We’ve never made any quid pro quos and agreements with any community members about how we would do this. And anything suggesting otherwise is categorically untrue

  • @distantsignal(66)· 2364d

    I hope the negotiations are swift so we can get this show on the road! :$

  • @traciyork(75)· 2364d

    And thanks for the reminder about the #SPUD winners list being released - I've been so busy on Twitter, I almost forgot I have a drawing to do! 😂

  • @traciyork(75)· 2364d

    This totally deserves a....

    @tipu curate