How I lost over 50$ worth payout because of the funds seizure by Steem Witnesses?

in hive-175254 •  last month 

Note: If you are lazy to read the whole article, you can skip to the last paragraph.

My experience on Steem was never a pleasant one in the last 2.5 years. I invested a lot on Steem looking for opportunities and unfortunately I couldn't see my funds grow. The price of steem kept falling like anything because of many unfortunate events on Steem. I have also been sincerely posting articles every single day and most of the time my rewards end up in cents rather than even dollars. Only in recent times I have been getting some decent rewards for my posts. I have been using the @likwid service for the past two months on steem because of the inconsistencies in the blockchain. Recently, the witnesses did a seizure to nullify some of the accounts with the help of a hard fork. This has also affected me in a little way.

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I was expecting a 50$ payout on my post and a 16$ payout on another post that was voted by @appreciator. I had set a 100% beneficiary to @likwid to get the rewards in liquid. Recently when there was information spreading about the hard fork 23, I was curious to check who were the 64 accounts was getting affected because of this. I noticed the name of likwid in that. I don't know what harm they did in this context. As far I see likwid was a good service that was benefiting the people on the blockchain. It was also not something that was introduced recently or after the chain split. It has been there for a very long time. They also do a decent curation service as well along with likwid service.

I was so surprised to see their name on the list and it was more than 4 million steem that was nullified from their account. I was curious to check if my payouts were fine or not and the day before yesterday I noticed that I had not been getting my rewards on steem for the past 12 days. My last payout from likwid was 12 days ago. I approached their discord server and asked for help and it looks like they are already screwed and I'm helpless like everyone else who had their pending rewards on likwid. Today the team posted an article listing out the authors who were affected because of this.

https://steempeak.com/steem/@likwid/operation-affected-by-hardfork-23

According to me, if there was something wrong with the likwid service, a notice should have been given to @likwid to stop their activities or some negotiations should be made. Because of this funds seizure from @likwid account to @community321 account it is not only affecting the @likwid service but also the other individuals who were using that service. With frustration I would like to say that this is a stupid move by the witnesses.

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If a group of people can seize the funds from the wallet of certain accounts, what safety the blockchain provides to the investors. All the new investors of Steem Blockchain and people who are staying invested should think about this and make a wise decision. If the seizure can happen today for all these 64 accounts, this can happen for any of our accounts as well in the future. Forget all the problems and politics we have on Steem blockchain, the fundamental safety of the assets itself is into question now.


Were you also someone who was affected because of HF23? What do you feel about the HF23 and Steem as a whole? Please share your thoughts in the comments section.


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That's bad, a lot of people are affected because of this change, Steem is dead. We have invested so much of our money, time and thus all in vain. We all have to start all over again in hive

Yes, I'm at least glad that we were able to recover our investment to some extent in the form of Hive. No hopes on Steem anymore. It is going to just die slowly.

But what makes me feel sad is that there are still people who are adamant and believing on steem.

I don't believe in steem anymore. I had started full powerdown back in January and cashed out all my coins.

I don't post on steem. If there is any automatic setup available that allows me to crosspost my HIVE articles on Steem, I will be glad.

I'm thinking of creating a service like that. I may not be able to do that immediately but over the course of a few weeks I can code something like that. For now I'm manually posting all my articles both on Hive as well as steem. 😉😀

Yes there can be service which can post on both, but the question is will you trust SteemConnection with your keys.

People belive in steem only who are actually getting the benefit or cashing out coins still

Yes that's quite true. There are people who still get benefited from the platform. So, no wonder they would be supporting it.

Wait... Are you saying that 4 million steem was just taken away for no particular reason? That would be the loss of ~800k dollars

You didn't follow the events that happened on Steem? The witnesses nullified over 64 accounts and all those accounts had a collective total of 24 million steem. They did it with a hardfork. Steem is no longer safe. 🙂

You can't really be so sure with Justin. He is insane and he can do anything. (Some day he might land himself in trouble though)
I think the most unlucky persons were @mottler and @freedom.
The former has been inactive for two years and the later had just delegated his/her steem to bots.

Yes I agree. Many bot accounts and community accounts were dependent on @freedom. It is going to be a tough time for those who were dependent on @freedom delegation.

Hi, @bala41288.

Apparently blockchain technology is not as safe as they describe it. In the end, it's the same as life, those who have the money are the ones who rule. Just like in real life, the wealthy can ruin anyone they want. It is unfortunate.

Thanks for sharing

Yes I guess Proof of stake is like that. If you are wealthy enough with enough stake, you can rule this blockchain. Any proof of stake would work the same way. 😀

Yes, you're right. Perhaps from a grim point of view, it is an excellent investment scheme for large investors.

Yes, large investors rule the chain. 😀

😀