Thoughts On the Steemit Debacle

The STEEMIT drama shows both the failures & successes of DPoS. This is DPoS working as it should. Both sides could of handled this better.

My understanding is Justin Sun Tron wants to use the company stake he bought for voting , the stake Ned said would never be used for voting. The community moved to block this through the witness system. In a sense they averted a hostile takeover.

The only thing Justin Sun Tron is really guilty of is breaking the community trust. He should of had more respect for the community and presented his changes for a proper vote instead of flexing his muscle and basically saying with his holdings he’d shape things as he pleases. Maybe he didn’t understand or realize what he was doing, but he basically tried to declare himself a dictator of Steemit and the community quickly tried to put him in his place.

Yes Justin Sun Tron owns Steemit and a large stake of STEEM. The community however is supposed to control the system. That’s how Steemit was set up, and that’s DPoS in action. Justin is free to use the stake he purchased with Steemit Inc any way he chooses, the community is free to fight it or walk away. It’s unfortunate he didn’t respect Ned’s promise to never use that stake to game the system or sway votes in his favor.

My final thoughts are this. This isn’t going to end well for anyone. I’m sure some version of Steemit will remain but it may never recover as the place it once was. Eventually someone is going to fork the project, or the drama will get so bad, people are just going to walk away.

I think what the exchanges did with users funds is completely unacceptable. Using user funds to sway a vote against the community is just outrageous. I can’t believe any exchange agreed to this. Another example of the need for decentralized exchanges. This gives new meaning to “Not your keys, not your coins”. This was a huge failure on the exchanges part. On ethical grounds, I’ll think long and hard about trading again on any exchanges involved in this shit show.

Funny thing about trust is once it’s lost it’s really hard to get it back.

Update, what’s happening?

It’s been awhile since I posted here! It’s coming I promise… I’ve been super busy updating the website and getting my design business set up and situated. The design business still has a long way to go. In the meantime I’ve been updating this site, and working on all kinds of new features.

The directory is now up and running. Still working on this project, but I’m happy with the direction it’s taking. If you have any cryptocurrency related link suggestions for the directory page, please include them in the comments section of this blog post.

Directory link: bitcoindood.com…

I’ll be adding a podcaster and youtube directory for crypto related shows. If you’re a podcaster or youtuber and would like to be added, please comment with your links. I know there have been a lot of new shows added to the crypto space in the last year or so. I’m a little out of the loop. Any suggestions would be greatly appreciated. Just comment with the show link!

After so much time, the News Agregator is back up and running. I coded it in NodeJS and so far so good. If you have any News Sites you’d like to see added, please post the link in the comments section for consideration.

New Aggregator link: bitcoindood.com…

The news agregator is currently being updated about 4 times a day.

I’m also working on a new blog theme! I’ve been working on WordPress theme design, and this part of the website will soon match the rest of the site. I’m hoping to have this theme up and running by the end of the week.

Once the blog design is updated I’m going to start blogging again at least once a week. Topics will vary. If you have a cryptocurrency, you’re an influencer, or you’re running any type of crypto related business, DM me on twitter and we can make arrangements for an interview if you’re interested.

Besides that I’ve got a couple new features I’m getting ready to add to the website. I’m keeping those a secret till I get the bugs worked out. I’ve been doing a lot of front end web dev stuff and learning so much. As I learn I’m adding features to the site.

Thanks for reading. Industry specific blog posts coming soon. Please leave any suggestions in the comments.

Cheers
The Dood 🙂

I’ll Be Back To Blogging Shortly – Currently Working On A Site Redesign.

I’ve been silent. I’ve been posting a lot to Steemit. For the most part, I’ve been working on updating my HTML and CSS skills. I signed up on two boot camps to learn the latest codebase.  I didn’t realize how dated my coding style was till I began taking these courses.

With that said, I’ve been working on an update to bitcoindood.com…. Should have it up and running in the next week or so. Expect more modern features, and a lot of upgrades coming soon.

Thoughts and Musings of a Shitcoin Trader.

I want to get back to blogging on here. For the most part, I’m going to be posting my thoughts on trading bitcoin, shitcoin, and other crypto related topics. I may post the occasional chart, I’ll definitely be posting opinion. Maybe pepper the posts with some tech reviews and anything I’m currently playing around with.

I’ve been involved in the cryptocurrency community for a while now. Man time fly’s! It’s been close to 6 years. When I first started this blog I intended to post about my journey as an altcoin trader. That part of the blog was lost when I changed servers to a new host. I started over in a different direction, and now I think I’m planning on returning to that theme and the roots of this blog. I may or may not do the occasional interview, but for the most part, I’m just going to be sharing my thoughts and musing on everything that’s going on with me as a trader and what’s happening in the crypto space in that particular moment in time. Hope whoever reads this, enjoys the posts!