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A Line In The Sand: Bailing Out The Exchanges That Got Into Governance by taskmaster4450

View this thread on: hive.blogpeakd.comecency.com
· @taskmaster4450 · (edited)
$9.51
A Line In The Sand: Bailing Out The Exchanges That Got Into Governance
<center>

[![](https://img.3speakcontent.online/jjzprgwm/post.png)](https://3speak.online/watch?v=taskmaster4450/jjzprgwm)

▶️ [Watch on 3Speak](https://3speak.online/watch?v=taskmaster4450/jjzprgwm)

</center>

---

There is an ongoing discussion about how to start the process of breaking this stalemate with the Steem community and Tron.

In this video, I cover a line in the sand that I do not think should be crossed: the [power down](https://leofinance.io/@leoglossary/leoglossary-power-down-hive) time.  This is affecting those [exchanges](https://leofinance.io/@leoglossary/leoglossary-exchange) that colluded against the Steem community and they should pay the [price](https://leofinance.io/@leoglossary/leoglossary-price) for that.
___

* [What is Hive](https://leofinance.io/@leoglossary/leoglossary-what-is-hive)


---

▶️ [3Speak](https://3speak.online/watch?v=taskmaster4450/jjzprgwm)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 331 others
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@ai-summaries ·
**Summary:**
Taskmaster discusses a town hall meeting on MSP Waves that focused on finding solutions to move forward from the current stalemate within the community. The primary topic of discussion is the power down period on the steam blockchain, particularly in relation to exchanges like Binance and Justin Sun's exchange. Taskmaster emphasizes that it is not the community's responsibility to bail out exchanges that engaged in unethical behavior and calls for strong action to uphold the security of the blockchain.

**Detailed Article:**
In the video, Taskmaster recounts his observations from a town hall meeting on MSP Waves, where Ron and Eli Powell, along with witnesses, were discussing solutions to break the stalemate within the community. The central focus of the discussion revolves around the power down period on the steam blockchain. Taskmaster delves into the issue of exchanges, specifically mentioning Binance and Justin Sun's exchange, and their involvement in governance activities.

Taskmaster points out that exchanges function as custodial entities when users deposit tokens, making them stewards of those tokens. He criticizes the actions of exchanges like Poloniex and Binance, alleging that they knowingly or unknowingly engaged in governance activities that affected the blockchain. He mentions CZ defending Binance's actions, highlighting the need for a clearer understanding of the responsibilities exchanges hold when it comes to governance.

A key concern raised by Taskmaster is the delayed power down process on the steam blockchain, which has been extended for three more days. He stresses that it is not the community's duty to rescue exchanges from the consequences of their actions. Taskmaster insists that exchanges should bear the full brunt of the situation they created, even if it means a slow redemption process for customers who had their tokens locked up.

Furthermore, Taskmaster asserts that the steam witnesses need to stand firm on this matter, emphasizing the importance of maintaining the integrity and security of the blockchain. He expresses his disappointment at the possibility of witnesses compromising on this issue and warns against appeasing exchanges at the expense of blockchain security.

Towards the end of the video, Taskmaster highlights the distinction between community debates on various topics, such as the ownership of steam tokens by Tron, and the non-negotiable stance regarding exchanges colluding against the community. He remains resolute in his belief that any compromise that undermines the blockchain's security is unacceptable.

In conclusion, Taskmaster enjoins the community and witnesses to uphold the principles of blockchain integrity and resist pressure from exchanges that have compromised the system. The video serves as a call to action for maintaining accountability and safeguarding the fundamental principles of governance within the blockchain ecosystem.
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@beerlover ·
<div class='pull-right'>https://files.peakd.com/file/peakd-hive/beerlover/yiuU6bdf-beerlover20gives20BEER.gif<p><sup><a href='https://hive-engine.com/?p=market&t=BEER'>View or trade </a> <code>BEER</code>.</sup></p></div><center><br> <p>Hey @taskmaster4450, here is a little bit of <code>BEER</code> from @pixresteemer for you. Enjoy it!</p> <p>We love your support by voting @detlev.witness on <a href='https://vote.hive.uno/@detlev.witness'>HIVE</a> </a>.</p> </center><div></div>
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@bryan-imhoff ·
I think a rushed hardfork is *very* risky... but the only compromise I’d offer is to apply the accelerated power down offer on Justin’s accounts instead. He can move millions of his personal Steem to the exchanges to create the needed liquidity that I’m sure he assured them he could provide via hardfork. Then it’s his choice whether or not to fulfill his word & obligations at the expense of reducing his witness voting influence.
👍  
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vote details (1)
@loak ·
sincerely the exchanges do not deserve the bail out,they should carry their cross....@taskmaster4450

Posted via <a href="https://steemleo.com/">Steemleo</a>
👍  ,
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@markkujantunen ·
I fully agree. We MUST NOT help bail out the exchanges.
👍  
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vote details (1)
@nnen ·
i was dissapointed to see binance among the exchanges that were easily manipulated by justin sun...@taskmaster4450

Posted via <a href="https://steemleo.com/">Steemleo</a>
👍  
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@pixresteemer ·
<center>![pixresteemer_incognito_angel_mini.png](https://files.peakd.com/file/peakd-hive/pixresteemer/8h7BBw1w-pixresteemer_incognito_angel_mini.png)</center><center>Bang, I did it again... I just rehived your post!</center><center>Week 137 of my [contest](/hive-179017/@pixresteemer/the-re-hive-contest-results-week-136-and-start-week-137) just started...you can now check the winners of the previous week!</center><center>!BEER</center><center><sub>3</sub></center>
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@sgt-dan ·
$0.02
Thank you for keeping us up to date with everything going on as well as your personal insights.

Some folks may not have had the opportunity to have watched/listened to the Townhall due to work or whatever, so your sharing is really great!
👍  ,
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@shoemanchu ·
Exchange's that criminally colluded should be shut down to save the integrity of Cryptocurrency 💯

Posted using [Partiko Android](https://partiko.app/referral/shoemanchu)
👍  
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@solt ·
the recent issues that happened on the steem blockchain have shown that some exchanges can be easily bribed and do not have integrity and cannot be trusted....@taskmaster4450

Posted via <a href="https://steemleo.com/">Steemleo</a>
👍  
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@steemitboard ·
Congratulations @taskmaster4450! You received a personal award!

<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@taskmaster4450/community.png</td><td>Thank you for the witness votes you made to support your Steem community and for keeping the Steem blockchain decentralized</td></tr></table>

<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@taskmaster4450) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=taskmaster4450)_</sub>


**Do not miss the last post from @steemitboard:**
<table><tr><td><a href="https://steemit.com/steemitboard/@steemitboard/use-your-witness-votes-and-get-the-community-badge"><img src="https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmTugCUsoXX762vg1CuHRrpnPbfnjPogp8iCGv7F2kSVuj/image.png"></a></td><td><a href="https://steemit.com/steemitboard/@steemitboard/use-your-witness-votes-and-get-the-community-badge">Use your witness votes and get the Community Badge</a></td></tr></table>

###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!
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@wattersblue ·
Good one. And in the process steem loses several of the few remaining large exchanges it has left. They were just doing what they thought they were supposed to be doing to support a HF. This is evidenced by the fact they removed their votes. Steem is lucky to be on those exchanges in the first place, and it sounds like if the community continues to run wild like this, it won't have em for much longer. Great work.
👍  ,
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vote details (2)
@bryan-imhoff ·
The best thing these exchanges can do for themselves is a normal 13 week power down. Yes, I'm against "bailing them out" from a political standpoint, but let's look at the practical side too.

Hardforks are not to be taken lightly. Past hardforks developed over months by the team that built the blockchain have still resulted in unforeseen bugs which created chain halts, wherein the blockchain froze to protect consensus. 

Justin's management has resulted in the loss of the entire blockchain team from Steemit Inc, and his engineering team has shown little understanding or competency with Steem. They may be a fine group of techs, but they'll be rushing through a massive change that fundamentally alters the blockchain economics *(do you really think there won't be glitches when stake can be moved between 3 different accounts during the 7 day payout calculation and used to triple vote the same content?)* with no experience and very little chance they’ll be able to repair the chain in a timely fashion.

If Justin gets his way I have little doubt that *everyone’s* stake will be unintentionally frozen for an extended period of time.
👍  
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@taskmaster4450le ·
$0.17
Really?  

Show me one hard fork where which included staking customers tokens and then voting on block producers.  Show me one.  

Hard forks to exchanges do not include that.

Stop with the bullshit rhetoric.  Hard forks do not include the exchange staking anyone's tokens.

Posted via <a href="https://steemleo.com/">Steemleo</a>
👍  , , , ,
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vote details (5)
@kemio ·
@taskmaster4450le i totally agree with you,i do not know why the guy is licking the asses of those exchanges.....

Posted via <a href="https://steemleo.com/">Steemleo</a>
👍  
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@practicalthought ·
This.
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@valued-customer · (edited)
So, criminals that stole their customers money are going to no longer provide services to the Steem community if we 'continue to run wild'?  I will weep bitter tears should the entire world not condemn these scoundrels that have fraudulently and criminally taken the money of their customers for purposes of political skulduggery while owing those customers and the entire market a ficudiary duty to protect those very funds.

Anyone that is so foolish as to ever again put a single satoshi in the hands of such provably corrupt thieves deserves to lose it and more.

Fuck those exchanges, and fuck you.
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@practicalthought ·
> So, criminals that stole their customers money are going to no longer provide services to the Steem community if we 'continue to run wild'?

Not like Steem can fall to much further if it does get delisted from the 3 exchanges that used others money as if it were their own. I remember buying in when it was above 2.00 each, lol. Binance also seems to feel they are able to keep coins that belong to US based customers who were dumb enough to leave them there due ot the assurance they would be able to be withdrawn at any time, just not traded there.
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@wattersblue ·
If you are fine losing all your investment dollars here, keep on with this line of thinking, that's where this is going. A loss of major exchanges will eventually lead to a worthless coin.
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@yogajill ·
$0.02
With the time two hard forks will take to safely pull off, it makes no sense! It is a longer, risky complicated way to go unless there are alterior motives. The quickest safest way is -as you mention- for the powered up accounts to begin power down!! Though it's not obvious they even know how to activate this function! 🤦‍♀️

But, Roy made a few things clear, Tron wants fast power down and Steem is nothing to them. It's not worth their time which they've already spent too much time in this mess. If i read between the lines, Roy says this quick power down is to rebuild relations with these exchanges which i cannot see why we'd want to engage with after who they've shown themselves to be, Tron really wants this for themselves so Sun can dump his coins. And, from what i understand Tron is not willing to offer Steem anything other than destroying the Steem chain and getting out as fast as they can. 

It's pretty clear. There are no good intentions by Tron. They are 100% untrustable from their actions and communications. We will walk away from this holding hands. But, when we are far enough away from the fire we are likely going in a few different directions and Steemit will be no more. Roy also said the coding to do this proposed fast power down hard fork is already done.  I find that super cocky & even harder to believe. 

What a mess.

Posted via <a href="https://steemleo.com/">Steemleo</a>
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