RE: Rogue HardFork on Steem will STEAL PRIVATE PROPERTY

[coruscate]

One question I have if anyone can help...

Are the funds being deleted (I keep seeing people use that word), or transferred to another account that is owned by steemit? If it’s the latter - how are they able to transfer the funds without the private keys of the users? Do they first null the account and then the funds are available to be transferred? That’s the one piece of this I’m still trying to get my mind around! Thanks for the help!

Comments

[joelsegovia]

Actually why they did is to copy the code used for Hive hardfork, but instead of sending the funds to Steem DAO they will send them to a "Steem treasury" account.

On Steem there's a comment from @fredrikaa that wrap the situation up perfectly as to how can we differentiate these two forks.

Yes. Anyone is free to create a new fork with whatever code and data they want. But there is one key difference here, namely whether or not the owners of the accounts whose states have been altered will themselves have to go through the trouble of first getting the support to run a version with their tokens, and second to have that token listed on exchanges and to thus gain value.

While I was strongly against the Hive exclusions, at least those excluded did not have to do anything to keep their existing STEEM balances. Those who forked to Hive created a new token, and did all the work to get it listed on exchanges and recognized in order to hold value. On the other hand, if those affected by the alterations of balances included in this fork want to run a version with their funds, then granted that this code gets accepted by exchanges, they will have to come up with a different token with a different name and do all the work to give it value.

Thus it is not apples and apples. In one instance, the affected party is imposed with a significant cost in order to retain the value they once had. Wheras in the other instance, those excluded from the HIVE fork has kept everything they had beforehand.

Again, I disagreed with the exclusions, as well as the spam and other attempts to make Steem unstable. But still, this logic does not apply equally.