@smooth. Are you maintaining your status as a Steemit witness up to now? I heard there was a takeover of the project by Justin Sun and his friends the exchanges hehehe. I want to know what are your opinions on the issue.
I reckon this shows that the exchanges might the real powers behind the cryptospace.
I stepped down shortly before the drama as I anticipated it (though not the specific details of what has played out of course) and was already feeling like my time investment there was getting to be more than I wanted, with upcoming drama likely to increase it.
Exchanges are clearly the real powers behind any proof of stake type coins. In practice, regardless of how theory is supposed to work, customers deposit huge numbers of coins on exchange which the exchanges can then use (legitimately, illegitimately, or in gray area situations) to dominate the chain consensus, despite having no real skin in the game at all. With other coins it is a bit more debatable. Obviously exchanges still have a lot of influence over what coins get traded and this influences their value, but it is less clear when influence is more diffuse among holders, developers, miners, and exchanges.
Sorry for OT for the AEON thread, if you want to continue the discussion please take it to a Steem or Steemit thread.