From “Ninja Mined” to “Ninja Sale” …it’s a bit of a mess.!! My thoughts on the Steemit / Steem Story.

#Steemit / #Steem - “Ninja Mined” to “Ninja Sale” …it’s a bit of a mess.!!

My thoughts on the #Steemit / #Steem Story

Readers of my Blog will know that last week I decided to take a break from #Steem.

This decision did not come easy, but I felt now was a great time to take a backseat in promoting #Steem and #Steemit and leave it to those that had the full support of the #Steem Community.

What a time to take a break.!!

Obviously, it comes without question that these last few days have seen some of the most challenging times for both #Steem and #Steemit and I have decided to return to share with you my thoughts.

First of all

Before I begin to share with you my thoughts, I would like to thank all those for their kind messages of support for my work, both here on #Steemit and also on twitter.

My thoughts

Obviously, what I am about to share with you is my thoughts and my thoughts alone.

These thoughts are not meant to be taken as advice, nor should they be taken as any Investment recommendation.

Background

Having been first introduced to #Steem and #Steemit back in the Summer of 2016, I knew from the outset that this was something special.

From the beginning, I openly shared with everyone my thoughts on both Ned and Dan and that these guys were geniuses.

These thoughts has never changed.

Despite what has recently taken place, as with Dan in the past, I maintain the upmost respect for Ned.

Secondly, it comes without question that I fully support all the amazing technical people that have worked tirelessly in developing the #Steem Blockchain.

These guys have worked at the cutting edge of technology and without them, there would be no #Steem.

This takes me on to Justin Sun.

From the outset of hearing the news that Justin had agreed to acquire #Steemit I have supported this unconditionally and will remain to do so until proven otherwise.

Technicals vs. Commercials

Readers that have followed my Blog these last few years will know my thoughts on this very subject.

For the past +2 years, I have been repeatedly trying to get the message out regarding the concentration of the Delegated #Steem Power on the Technicals and whether this concentration of Power had been made at the sacrifice of the Commercials.

Despite repeatedly trying to get the message across, no one was listening.

“Ninja Mined” Stake

As we all know, from the launch of the #Steem Blockchain there was a high concentration of #Steem mined by Ned / #Steemit.

This mined #Steem has often been referred to as the “Ninja Mined” Stake and it's ownership has been debated on may occasions in the past.

Commercial Arrangement

This takes me on to the acquisition of #Steemit.

Without having details of the Commercial Agreement between Ned, #Steemit and Justin, it's difficult to know for sure what Agreement is in place.

However, unless there is a Contractual Agreement in place that clearly states without question that this “Ninja Mined” Stake was not Ned's to sell, then as far as I am concerned, he can do whatever he likes with it.

It was either going to be Justin or somebody else

As I have said in the past, whether it was going to be Justin or somebody else, sometime down the line Ned would have wanted to exist #Steem.

This exist, without any Contractual Agreement in place as to who is the rightful owner of the “Ninja Mined” Stake was always going to be a major problem.

Sure, there will be a few out there that will say that there was nothing in writing but simply a Verbal Agreement that the Community owned this Stake.

Sadly, I am not convinced that this argument would stand up to scrutiny.

Unless it was a Contractual Agreement, I believe Ned has ever right to sell it.

"Why did the #Steem Community not bid for and successfully acquire #Steemit and the “Ninja Mined” Stake?"

I am sure that by now that there will be some out there spitting at their screens in disgust, but like I said earlier, these are only my thoughts.

While these thoughts are being digested, this takes me nicely on to asking the question I have been asking repeatedly in the past....

"Why did the #Steem Community not bid for and successfully acquire #Steemit and the “Ninja Mined” Stake?"

With all the tools at our fingertips, the acquisition of #Steemit and the “Ninja Mined” Stake by the #Steem Community would have been very simple and easy to have achieved.

Soft Fork and Justin's response

Following the announcement of the purchase of #Steemit and the “Ninja Mined” Stake I have kept out of the Soft Fork and Justin's response, simply because I don't know what had been agreed between Ned and Justin.

I have, however, read countless messages, reports, articles, views and opinions and all though there has been a lot of great content, there has been a mountain of misinformation.

Sure, I am not agreeing nor condemning the actions taken by Justin, he has simply done what anyone else would have done to protect what was his, whether the rightful owner or not.

Likewise, the #Steem Witnesses have done what they thought was right.

It's a mess.!!

Like I said at the beginning, this is a real mess and can only be resolved by sitting down and laying everything out on the table.

A real shame

It is a real shame that we are where we are, but I would strongly advise that people take a good look at what we have.

We should look at the Facts, look at what has been Contractually Agreed, look at what the Intentions were, and hopefully come to a mutually agreed resolution that all Parties agree on.

Willingness of ALL Parties to get through this mess

It boils down to one thing and one thing only.

The willingness of ALL Parties to get through this mess.

Without this willingness in place, I for one, cannot see a way forward.

Thanks again for reading.

Stephen