Published: 13 Mar 2020 › Updated: 13 Mar 2020
Proposal: Solution to SPS and Ninja-Mined Stake
This Will Work
I've been thinking for quite a while on what something fellow witness 
@r0nd0n said the other day on one of his shows. Why doesn't someone write a proposal to buy the Steem from 
@justinsusteemit? I scratched my head and proceeded to ignite the storm in my mind as to how this could be accomplished. Regardless what happens in this whole 'stalemate', each side will have to sacrifice something. That's how negotiation works.
@r0nd0n said the other day on one of his shows. Why doesn't someone write a proposal to buy the Steem from @justinsusteemit? I scratched my head and proceeded to ignite the storm in my mind as to how this could be accomplished. Regardless what happens in this whole 'stalemate', each side will have to sacrifice something. That's how negotiation works.Let's Face It
I don't know a single person that is genuinely happy with the situation right now, do you? The ex-top 20 aren't happy and Justin Sun surely isn't pleased with the way this has turned out. It's not what anyone was expecting on either side.
The Primary Problem
I've sat in on multiple discussions and everything seems to keep revolving back to the ninja-mined stake that Steemit Inc invested their time and money into procuring upon launching this blockchain. Though, there is no written legally binding contract that states it is to be used to further the progress and development of Steem-based apps and dapps, people do hold them (
@ned) accountable in other forms of written communication, some of which is on the blockchain itself. The fear was/is, and why we are all in limbo with moving forward, is Justin Sun will use the stake to vote witnesses, effectively rearranging the entire chess board.
@ned) accountable in other forms of written communication, some of which is on the blockchain itself. The fear was/is, and why we are all in limbo with moving forward, is Justin Sun will use the stake to vote witnesses, effectively rearranging the entire chess board.To Prevent That
The former consensus and several investors decided to undergo 
@softfork222, which resulted in a retaliation from Sun, to set up his own witnesses and effectively free up his recently purchased assets. Which, brings us to where we are today.
@softfork222, which resulted in a retaliation from Sun, to set up his own witnesses and effectively free up his recently purchased assets. Which, brings us to where we are today.Quite a Challenge
After about 4 days, I stumbled on to something that got me thinking even harder and then lightning struck this morning. The hope was, that Steemit Inc would be the primary benefactor for the SPS and be contributing on a regular basis to the 
@steem.dao to assist in project funding. I had to do some math to get all the numbers right, and rounding up to the nearest Steem without decimals, I came up with 60,283,821 million. That is the amount (at the time of this post) in the three most substantial accounts that can sway things in Justin Sun's favor heavily, if he so chose to do so. Those accounts are 
@misterdelegation, 
@steemit & 
@steem.
@steem.dao to assist in project funding. I had to do some math to get all the numbers right, and rounding up to the nearest Steem without decimals, I came up with 60,283,821 million. That is the amount (at the time of this post) in the three most substantial accounts that can sway things in Justin Sun's favor heavily, if he so chose to do so. Those accounts are @misterdelegation, @steemit & @steem.What's This Have To Do With the SPS?
I say we buy it all from him using what we already have. This would require 4 things. All of which, would be a sacrifice for everyone involved. Negotiation is all about sacrifice and what one party is willing to give up to gain something even more valuable. The most valuable thing in the entire equation of this whole 'mess', are those three accounts. The question is, would any of you, benefiting currently or not, be willing to make the necessary sacrifice to ensure that our blockchain stays as is, or would you rather keep slowly pushing toward splitting to two different blockchains and having to start all over again? Here is what would need to happen:
- All current outgoing delegations from
- After 5 days,
@justinsunsteemit would have to initiate a full power down of all three accounts.
- All current proposals would have to be unapproved until completion of the entire transaction.
- We would have to use current funds in the
It's WIN-WIN-WIN!
With the current funding available in the DAO account, we could effectively buy all that he has powered down each week and then turn around and swap it for more SBD to buy it again the next week. The constant flux in swapping should keep the price at a stable rate, or we can agree on a set rate, that I leave up to you @justinsunsteemit. Upon writing this, the current market value of Steem is 0.1386 USD and SBD are worth 0.6775 USD. That is almost a 5 to 1 ratio and easily enough funds. My suggestion is to go by what 
@coingecko lists on their site as it is a neutral party, maybe an average for each week.
@justinsunsteemit. Upon writing this, the current market value of Steem is 0.1386 USD and SBD are worth 0.6775 USD. That is almost a 5 to 1 ratio and easily enough funds. My suggestion is to go by what @coingecko lists on their site as it is a neutral party, maybe an average for each week.
If there is a deficit, I'm sure to regain 'decentralization' of our chain, the community would step up in amazing ways. Maybe 
How Does It Benefit Justin Sun?
You (Justin) would be able to make your profit and unload the SBD, you could even have it pumped here or there if you like. You would also then be free of the ninja-mine and no longer have to worry about the obligations that came with it. Granted, you will have to give up the stake holding of three of the largest accounts in the entire ecosystem here, but it will be worth it.
We're Giving Up A Lot!
Yes, there are some good things that would suffer temporarily, but you have to ask yourself, HOW MUCH DO YOU REALLY LOVE THIS PLACE? We know @justinsunsteemit is all about the money, he's made that clear, multiple times. A lot of the community was pretty upset, though they understood, why the initial soft fork went in to play and got us all in to this beautiful little mess of a mess. The ninja-mined stake. Which, is to be used for advancement and development of our chain. Having it all recycled and essentially 'burnt' in the DAO, will do exactly that! Once there, the entire community will have the opportunity to decide what we should pursue and people can contribute on an unprecedented level! The former consensus witnesses said this wasn't about, nor had anything to do with the money and now is the time to
@justinsunsteemit is all about the money, he's made that clear, multiple times. A lot of the community was pretty upset, though they understood, why the initial soft fork went in to play and got us all in to this beautiful little mess of a mess. The ninja-mined stake. Which, is to be used for advancement and development of our chain. Having it all recycled and essentially 'burnt' in the DAO, will do exactly that! Once there, the entire community will have the opportunity to decide what we should pursue and people can contribute on an unprecedented level! The former consensus witnesses said this wasn't about, nor had anything to do with the money and now is the time to PROVE IT.
The Community
That's what this is all about. Preserving our 'way of blockchain life'. By approving this proposal and commenting below, you effectively agree, that this is a binding and therefore - legal - contract, to do exactly what has been stated - buy the ninja-mined stake from Justin Sun using the funds in the @steem.dao. Justin, you will also need to approve it and comment below that you agree and to what (reasonable & negotiable) price for the Steem. Thank you for your time, I'm going to go smoke some more hopium now.
@steem.dao. Justin, you will also need to approve it and comment below that you agree and to what (reasonable & negotiable) price for the Steem. Thank you for your time, I'm going to go smoke some more hopium now.Leave Proposal: Solution to SPS and Ninja-Mined Stake to:
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