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Response To Jerry Banfield’s Exit From STEEM


2 years agoBusy3 min read


@jerrybanfield recently made a post and a video telling how much he made from the STEEM blockchain in the last year. Basically it was $179,000. It is a sizable income and he is powering down his account and selling off most of his holdings. He no longer is interested in promoting this platform and feels everything on this platform is just making less than than the top 1% of people money and everyone else is fighting around for scraps and getting dumped on.

His video resonated a lot with me especially from the 15 minute mark on. He described how when he achieved a lot of power then he was able to engage with others with power but then saw everyone else eating dirt. While I don't agree with everything @jerrybanfield did like the JerryCoin pitch and I feel he could have approached things differently. Ultimately he said that when he tried to voice his concerns and offer solutions no one with power wanted to hear it.

In a weird turn of events he shut off his witness node two months ago instead of just collecting more rewards from this system. He is still running his paid upvote bot service.


Without vote decay he is still in 35th position. I'm asking @jerrybanfield to allow me to manage a witness node in that position and take over that shell account once he is completely powered down because I still think that STEEM might have a chance. The community is too strong and the development already done here is way too valuable for it to go away completely.

STEEM will survive even if it is always a whale hangout / circle jerk hell. With all the current problems that aren't addressed it will continue to have terrible attrition rates and leave people with a weird feeling.

In that witness position I will continue to support good content creators and also provide more support for some of the 3rd party development going on. Also I will be able to focus on STEEM development instead of working and focusing so much on EOS related stuff.

Also I will be developing a voting system where people with over 500 SP and a rep of 50 or more can vote on major platform issues like coordinated flags on accounts like @haejin . If a large amount of the community feels that issues like that are destroying the ecosystem here then the Witnesses will be encouraged to join the flag attack to bring accounts like that back into check instead of turning a blind eye to the problem and continuing to collect their passive earnings.

How ever low this dip goes we are likely to come out of it with 10 or 20 @haejin type accounts ready to create unstoppable content farms.

@jerrybanfield might not pay attention to my request but I might as well ask. The worst he can say is no.

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