The TAO of a win-win solution


For Steem and Tron

Set the Steem blockchain free by letting go of some SteemIt Inc. controlled accounts.

Buy out mister Sun Justin.

This is based on the assumption that with the take-over of SteemIt Incorporated, by mister Sun / The Tron Foundation, there was a proper due diligence investigation done. And mister Ned Scott, former CEO of SteemIt Inc, had informed the buying entity about some agreements between the Steem Community and SteemIt Inc. As to be found published on the Steem blockchain. To some extend this could actually be seen as a legal binding contract. Is the buying entity bound to this as the new owner of SteemIt Incorporated, that might be a question to be answered in court. Could the new owner(s) really be held accountable for the promises / agreements made by the former owner(s) of SteemIt Inc.? But most of all, my question to the Steem community would be: do we want SteemIt Incorporated, under new ownership to be a risk for the forward movement of the Steem blockchain? To me part of the 'win-win' path {CN:TAO} would be that the Steem blockchain moves on substantively, meaning the ties with SteemIt Incorporated will be cut. And before the people from the Tron Foundation start to freak out, rest assured mister Sun can leave with a lot of Steem, as he made clear that he wanted.

There will be legal bindings, a contract published on the Steem platform, where he has to confirm, in writing that SteemIt Inc. will pull out off the Steem blockchain with all of the account it holds the private keys off. With a promise that all those accounts will have their keys reset, or handed over to a still to form Steem Foundation. If mister Sun wants to stay in he has to come to terms with the Steem Community too. But as seen from my point of view it is either in full, honoring the agreements / promises made by SteemIt Incorporated, or completely get out, yet with a bag full of Steem. In the event of the last option, to which mister Sun would have to agree publicly on the Steem blockchain, there has to be made a business deal. First I would propose to set up a Steem Foundation, maybe done so by the former employees of SteemIt Inc., with the help (and support) of several Steem Community members. We need to fully back them, the community as one voice. (It probably may be needed to raise some funding for this.) Summarized: SteemIt Inc. gets out completely, Steem Foundation gets in. Everybody happy...?

Learn from these events and adapt.

In a way we could thank both mister Scott and Sun for this challenge they gave us as the Steem Community. Now I know there are still a lot of Steemians angry at both, some even filled with hatred. But I belief feelings do not help to solve this, they only create more fire and at some point we all get burned. So, I suggest being realistic about it. Mister Sun wants out? Okay, but we need to 'haggle' first, because we want the Steem blockchain to move on. Let us make a deal. For some reason mister Sun does not want a 13 weeks Power Down. And he wants an exception for the three centralized exchanges that were using the Steem funds of their clients to enforce governance over the Steem blockchain. Where I guess he wants out at the same time, also with a 24 hour Power Down exception. Now, how to do this, without destroying the Steem Blockchain and/ or the value of Steem? Some sort of guarantee construction would be preferable. As mister Sun / SteemIt Inc. and the Tron Foundation might want to pull all Steem out, through a kind of 'Ninja' Power Down, this would cause a lot of damage. Killing off the Steem blockchain, using the Steem taken out as a way to construct TronIt Incorporated. Who knows, but that is not something the Steem Community wants to support, I think.

For mister Sun to have his part of a 'win-win' deal he will have to give something too. Well, more than just something. Maybe the funds he wants out will be put in escrow first. Or he has to store an amount of Steem first in some accounts that will be in control of a Steem Foundation. These accounts may be multi-signed and be unable to vote for witnesses, they will be merely there to fund development, on-boarding new members, delegation and so on and so forth. This can all be done through coding. It can even be coded in that a temporary execution is to be done. Where one address receiving funds from any address controlled by SteemIt Incorporated will trigger the 24 hour PD exception for a few accounts. The same goes for the three exchanges that conspired with mister Sun to take-over governance of the Steem blockchain. And maybe more Steemians want to get out, because of the expected market dump of Steem. That is a tough one. We put it in two proposals, with the SteemIt Inc controlled accounts not taken into account if they are used to vote, want will be a 'YES' and the other a 'NO' to the final bail-out proposal. (And after it is done, make sure this is going to be prevented from happening again ever...)

Not passing START for free though.

Like I wrote, there will be a price attached for mister Sun and his conspiring associates. As there are consequences to be met, like the costs of Amazon hosting, maybe it is better to implement IPFS. Who gets the domain: SteemIt dot com? (Preferable the Steem Foundation) And what will the bail-out be like? It is of no question to me that mister Sun and his conspires can just walk out the door with bags of Steem and destroying the blockchain within 24 hours. He was the one taking a risk buying from mister Scott, now he has to deal with the Steem Community next. So, they want out, fast, preferably the day before yesterday. But they cannot, as they are put into a 'check' position and every day longer gets them closer to 'check mate'. Let us make a deal, for a temporarily 24 hour Power Down, but for all who want to. Payouts will be locked for 24 hours. And it has a price tag: 25% has to go into the new funds, and only after this condition has been met, the one time completer Power Down can be done. A one time event. But, every Steemians gets the chance to do so. There has to be a consequence, as the price of Steem might drop severely, even if for just a short amount of time. Take it, or leave it, as most of us want the Steem blockchain to move forward.

This will all be temporary code, a soft-fork, or whatever the name will be. Steem 0.3, the liberation of our Community. And I am merely suggesting an idea, a concept, where the mutual goal is to really have all the remains of SteemIt Incorporated out. Where mister Sun and his associates still have a profit winning mood and the same goes for the Steem Community. Can there still be build a bridge between both blockchains? In the event of mister Sun pulling out all his stake, I do not know, but maybe once that is settled there can be a co-operation between the Tron and Steem foundation. But I'd rather see the SMTs become a reality as soon as all the skeletons of SteemIt Incorporated are buried. And the Steem blockchain moves on as a substantive entity, with a large supporting Community. But some changes have to be made to prevent future Sybil and Reversed Sybil attacks, for instance. Challenges on the road to a new path, the future TAO of Steem.

Steem on!


Unleash the Steem Lion, take charge.
txgacj.jpg
_Image of lion CC0 license, courtesy of ractapopulous._

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05.03.2020 10:46
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