As I watched Justin Sun move another 3.6M STEEM into the HKDEV404 account, I was thinking about how much this hostile takeover has cost him. I am not talking about the coins he has been buying to wrestle control, I mean to his public and likely private reputation. It is probably this cost that affects him the most and drives his ego to keep doubling and tripling down - clawing for a victory. He can't win.
I was also thinking that if Justin or Tron had any competitors out there in the crypto space that wanted to punish him, they could easily keep buying a little bit of the liquid Steem and making him extend further. Who knows, for a few million (which is nothing for some projects and investors), they would be able to exact a very heavy toll on Justin's holdings and his relationships.
Relationships are important.
So, this is happening and while it might not be an ideal outcome, it might just be the best it is going to get. I have no more details than what is in the post, but I am guessing that at some point there will be a snapshot taken that will become the starting point for the new chain, whatever it will be called.
@blocktrades and a group of developers are going to fork the chain into a new place that will look much like this, except it will be minus Justin Sun and the stake that he bought, which has been hanging over the head of Steem like the sword of Damacles since the start of the chain - well, the restart. It is important to note, no property is harmed in this process.
The beauty of digital real estate is that it is unlimited. The beauty of ownership of blockchain property is that it can be transferred. The beauty of cryptocurrencies is that what gives them value is demand. When it comes to the value of STEEM, we are that demand and the value goes where we demand it to travel.
Essentially we are under siege, but rather than defend the walls, we copy paste everything of value within the castle and give it a new address. What is of value? Us. It is us that gives Steem any real value at all and it is why Justin Sun was interested in the purchase, as it would have given him an active and dedicated core community to build from - but he fucked that up. He may get very aggressive once this is reaches his ears, so be prepared for that stake of his to activate - lucky he doesn't like downvoting... ;D
Regardless of what happens though, this can be a pretty scary undertaking for all who like myself, do not understand all of the technical aspects, but at least feel heavily invested in the outcomes. This is part of the risk acceptance though and it has always been on the cards since day one, and highly likely due to the way that day one started. Perhaps with a fresh start with a group of people who have been active for the last few years, the distribution is at a point where it can be used effectively to build a community that deserves better than it has got thus far.
I have put a massive amount of effort into this place, but as I said on the @blocktrades post:
Ok. Let's go.
Once we are gone - there isn't much left.
Taraz
[ a Steem TBA original ]
Yes, it would seem that the time has come to simply take the show on the road. It would seem that a lot has been happening behind the scenes, and there is broad based enough support among developers, ex-Steemit, Inc. employees, witnesses and key stake holders to simply vacate the premises and say "Here you go, Justin. HAVE your Steemit, and have fun with it!"
After all, Justin is very good at shitcoins... now he can have another one, while we take the value somewhere else.
He definitely has a few shitcoins to his name now :D
Honestly, I’m so excited about this I can’t even describe it, JS will be left holding a heavy bag, with no support.
You can’t buy a community, he will learn it the hard way.
It is going to be a pretty interesting turn of events. Not sure for better or worse - but it will turn.
Two more months of stalemate would be good, for me any ways, I don't get a lot of my post, but with the depressed price, I am getting more STEEM. I like the world reach of the Steem Block Chain, I like how many countries have people posting and socializing on the Steem Block Chain. I think this is something that Sun does not get, I think this is something that a lot of the witnesses don't get also. I've never really been a crowd follower before, but I like this crowd of mis-fits we have on the Steem Block Chain, I like the openness, the freedom, the drama, and even a little bit of the trauma. In the case of this community, I will be a follower, and follow where most go, so long as the choice looks right to me. No need to keep jumping from one frying pan to the next hoping one can get out of the fire. Now off to look at blocktrades post to see what was said.
What did you think?
I would move to that one more so than one run or made by andrachy. Blocktades at least has always communicated and kept it's users informed of happenings. I can not be swayed by some of the others that talk of projects, especially those that were supposed to be a communications director and only made a few communication post to the community of what was going on with steemit and it's progress.
I really hope if it comes to the light of day, that the world participation we currently have on Steem Block Chain will follow. I like talking/typing to people from The Netherlands and Finland area all the way down to the south tip of the African Continent, jumping over the water to Australia new Zealand, and Argentina, then back to the north, all four corners of the world.
I never found that on the other social sites when they came out and I found them, from day one I could see that Steem Block Chain was not an echo box of one country of one group of one culture, but a true melting pot of various and wildly different points of views at times to the normal echo box places.
If I have to make a choice to accept the airdrop and convert I think I am at the 85% point that I would.
It won't be necessary, as it will be airdropped on stake as it is now (or at time of snapshot) . The Steem will still exist on Steem, but I imagine that it is going to get rekt in price as people dump.
Yeah, I've seen a lot of people powering down, who knows if the new chain does start, I still have my almost 3000 SP powered up. I can't believe that I have that much already, I am almost back to a two cent vote at 100% power, maybe on the new chain I will be able to give a valuable vote more often. I don't really know how the change works, but I do know I will not be powering down, so if the airdrop is based on powered up steem, i have a bit now.
https://steemdb.com/steem/@blocktrades/why-i-won-t-be-compromising-with-justin-sun/reblogs
All these delicious rehives
I still feel it was a pity it came to this point. but here we are, so roll with it.
No argument. I have a couple of hundred STEEM branded silver rounds.
Nobody wanted this.
I am so ready and so excited! Let's do this! ❤️
Community. For better or worse. =)
Yep @tarazkp ...
... there are a great number of us in the exact same boat. For the sake of us all, I hope this is handled in a much more professional manner than far too much of what we too often experience "in here."
I will be keenly focused on how well communication is handled. And, once "the dust settles" what version, if any, of the original "ninja-mined stake" problem has followed us to this "Brave New World" ...
I would say that in regard to stake, the worst to follow will be those who have proven themselves predictable on steem. However, perhaps given a fresh slate, there is the opportunity for a new start for all.
I'm ready for that, but agree there is some nervousness around the release of the hopes that were here to invest in something new.
I experienced that with Whaleshares about a year and a half ago, when hardfork 21 was splitting the community. I wound up investing a lot of energy into trying to get that code set that was supposedly more fair to plankton/minnows going, but essentially the coin is worthless at this point. So I'm a little gun shy about trying it again.
This time there is a much more core part of the STEEM community and a lot more financial and dev resources that seem devoted to the new chain. I definitely see that at this point it is the only rational choice to at least try. Justin can absolutely not be trusted to negotiate in good faith.
Whaleshares was doomed from the beginning I think due to those involved.
Not sure how it is going to pan out, but after 3 years of hard work, I don't have much to show for it at this point - so - swing for the fences? :)
It still seems strange to me that Justin would invest so heavily and continue to do so only to crash Steem into the rock. I just hope there is not something we are missing and that this was his plan all along.
But, yes I am in favour of getting a new boat.
I don't think he had much understanding of what this place was at all. I think he believed that buying Steemit Inc gave him ownership of the blockchain.
Well, if a bunch of us move - mostly those who oppose his actions - then he can go back to his initial plan and port everything to TRON. Eventually, there will be a split also in the userbase: some will follow the continued dream of decentralization, others will continue to follow whichever highest token value and daily rounds of rewards collection from different dapps.
I’m pretty sure that even with his initial plans he counted on probably only 50-60% of the users to move. Which would still cause a massive bump in activity on his origin chain. Especially when those users eventually also start spending their earnings on TRON dapps, like has happened here with splinterlands, drug wars, and more.
I will be moving over to Hive but Steem will always be a special place for me. I think I will keep my Steem and just let it ride. I don't trust him but part on me has an interest in what he is planning.
This is so exiting that I think I now, for the fist time have to go and hoard some toilet paper. Oh... it's almost midnight and the nearest ABC open all night is too far... Still. I'm in and let's go and 100% with this!
It is going to be highly volatile I think, and far from a smooth ride...
I think the toilet paper will be needed afterward :D
I better go and hoard some then.
Here's some TP for ya...All the way from Australia!
Yes! Thank you! Added lotion. 😆
Everyone needs lotion. 😊
Lotion here, lotion there, lotion everywhere. :D
day by day justin sun seems to keep loosing his reputation because he dissapointed so many people who used to hold him in high esteem but now they see him as a common dictator and they are no more impressed with him...@tarazkp
Posted via Steemleo
People are easily impressed - as long as someone is rich.
We'll also be minus a ton of exchanges that we are currently listed on and essentially we should start a new promo-..... campaign which isn't a bad thing at all. Quite interesting actually...
It's just going to be way more bumpy that it currently is. At the beginning at least...hopefully...
with bumps come opportunities. Just imagine if you were here in 2016.
You mean being a part of a small group of people and grow my account in no time?
With bumps often come opportunities ya, but not always.
All I am saying is that if we choose that path we have to be 1000% sure that it's the right thing to do
No, to be part of it from the beginning.
There is no certainty, you should know that by now.
Given the track history of the exchanges, hoping that there will be some way to buy/sell directly circumventing the need for an exchange as we know them. It would do much for the new branding to offer something unseen like that in the crypto world.
Like always I don't quite know what's happening but I'm in if it's good. 😊
Posted using Partiko Android
Well, see you somewhere other than here , by the looks of things :D
!ENGAGE 25
@dkkarolien you have received
25 ENGAGEfrom @tarazkp!View and trade the tokens on Steem Engine.
ok GO!
Posted via Steemleo
:)
You took that picture?
Yup
Upvoted for rally car
Rally-X in this case ;)
How can I help? Let’s go.
Posted via Steemleo
Change is coming.
The community is where the valley is green.
Steem will be dumped like crazy.
Justin will learn something very quick.
Do not mess with this community
Posted via Steemleo
i hope this justin have future plan for steemit
I hope that you don't find the other chain.
That was a very welcome post from Blocktrades - Imagine the dump when we all move!
It is going to be insane.... PErhaps I should stay powered up.
I'm Powering down like you - I'm thinking a third of my stake is a sensible hedge. I'll probably take it down to 20K from the present 30K, then pause it. I was planning on a 50-70% PD until that Blocktrades post - It's fairly obvious now that Justin wants complete control over this chain.
I'm actually buying DEC with 20% of it, and then BTC with 80% - I figure I can probably buy more of the new token cheaper in the future.
Whatever, a PD hedge seems sensible ATM, the BTC rate is 2.4 (it was 2.8 but i missed that) and I bought a load relatively recently at 1.5-1.9, so it makes sense.
Yeah, it is what it is when it comes to price now...
I've left sites in annoyance before and I can do it again ;D
I was going to leave this on the blocktrades post but it's too scary so you get stuck with it instead, you're not scary XD
Congratulations @tarazkp!
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