STEEM is still not Steemit, even if Tron buys Steemit.

Okay, this needs to be repeated. STEEM is not Steemit. I talked about this two years ago:

STEEM Is NOT Steemit. STEEM Is More Valuable Than Steemit.

STEEM is still not Steemit, even if the Tron Foundation buys the Steemit, inc assets.

If you're not clear what's going on, check the latest posts from the major crypto news outlets and PR wires:

Cointelegraph: Steemit to Shift Its Proprietary Blockchain and Token to Tron Network

Where did they get "proprietary" from? Proprietary is relating to an owner or ownership and the Steem blockchain is not (to my knowledge) owned by anyone.

Coindesk: Steemit Sets Up Shop on Tron Network

Businesswire: Steemit Joining TRON Ecosystem

Steem is a blockchain run by independent block producers called witnesses distributed around the world. You can see them listed here: https://steemd.com/witnesses

Controlling the "Steemit" logo, brand, .com website, and the like does not change who runs the chain and ultimately makes decisions about the protocol and technology. Code is currently developed primarily by the Steemit, inc team and proposed to the active, token-elected block producers for their evaluation. Some hard forks have been rejected by the witnesses before, so it's not a rubber-stamp process.

As you can see from https://steemproposals.com/proposals, some decisions are voted on directly by the token holders as a signal to the block producers how they should go (such as the power down period change discussed as a potential addition for the next hard fork):

I say all that to say it's ultimately the token holders who have the final say in DPoS governance for what Steem (the blockchain) does. There are many different front ends to the Steem blockchain beyond just Steemit.com. The Tron Foundation and Steemit, inc can come up with various plans on how they want to move forward, but if the Steem community doesn't agree, they can simply ignore any agreements and move on forward using the existing chain as is. I'm not suggesting that's the best plan of action, but I want it said clearly so people understand this is a decentralized community-run blockchain. Centralized companies making agreements about their own token stake and sale of assets doesn't include the blockchain itself, as far as I'm aware (but I'm no lawyer).

As to the token holders, they've been through a lot:

To this day, STEEM has been one of my worst financial decisions (I think I put in around 9 BTC near the left side of that graph only to see $2-$3 STEEM go down to $0.07). A lot of people believe in STEEM (myself included) and held through the bear market because it's a blockchain actually delivering value to normal people and doing the thing it set out to do. It's also been one of my best life decisions. I've made many friends here, enjoyed three years of Steemfest events, and created a home for my content. This is my home on the blockchain as I mentioned 13 hours ago, before I knew about any of this Tron business:

So where are we going from here? What will happen next? Will there be a chainswap of content or tokens over to Tron? Will the community support such an activity? Will Steem users have to get Tron wallets to interact with some new chain? Will the token price go up, go down, or become something completely new as a reborn Tron token?

I think it's accurate to say no one really knows yet. If the Tron Foundation controls Steemit's token stake, it's possible they could vote in their own producers and centralize everything. It's also possible the community could decide to fork out their stake to create a new chain (similar to Ethereum Classic or Bitcoin Cash). I think it's far too early for any such speculation, but I am happy to see STEEM and Steem back in the news (even if it's just because of Steemit). If you're still not clear about the differences between those terms, see my post from two years ago referenced above.

Either way, it will be a wild ride. I'm happy to be on it with you.


Luke Stokes is the Managing Director for the Foundation for Interwallet Operability as well as the Interim Executive Director for the EOS Foundation. He's passionate about voluntary systems of governance and has been involved in bitcoin since early 2013. He's been a witness for the Steem blockchain since early 2018 and a custodian for eosDAC, a community-owned EOSIO Block Producer and DAC Enabler, since its inception. With a computer science degree from UPENN, he built, bootstrapped and co-founded the shopping cart software company FoxyCart over a ten year period and is now focused on blockchain technology as a means to create a world we all want to live in. He currently lives in Puerto Rico with his wife and three children and enjoys discussing everything from philosophy, to consciousness, to voluntaryism, to love and awakening. lukestokes.info UnderstandingBlockchainFreedom.com fio.foundation eosdac.io

I'm a Witness! Please vote for @lukestokes.mhth


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  • @jacobtothe

    I have put nothing into STEEM except my time and creative effort. I am curious to see where this goes, but I will withhold judgement until there is something more concrete to consider.

  • @denmarkguy

    Right now it seems like everyone is just milling around in a circle, not knowing what's going on.

    THAT part, sadly reminds me of the old days of tech/dot-com companies where millions billions were made and lost simply on "Big Announcements" that had none of the functional implementation aspects even considered. The great investing guru Peter Lynch (creator of Fidelity Investments' famous "Magellan" mutual fund) liked to call it "di-WORSE-ification."

    I don't know, though. And I understand the distinctions you are making, but I am still confused as to what this partnership means. I guess we'll just have to wait and see...

  • @kadirq

    yes steem big steemit

  • @dalz

    You are the first witness to speak about this and point out the thing that steem community knows ... steemit is not steem.... there is a lot of confusion now, and the manner in how this was done and announced is not so welcomed.... will see how evrything goes

  • @angel35mm

    Thanks so much for your thoughtful words regarding the Steemit/Tron activity. This would be a good read for those who do not have a full understanding of the distinction between the STEEM blockchain and Steemit.com. STEEM ON!!!

  • @prechyrukky

    Nice read. Some people are confusing steem for steemit.

    I love the steemit community as I have learn a lot here and build relationship, I'm just hoping the new leadership is going to do a great good to the community

  • @liberosist

    TRON and Steemit’s development teams will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain

    old STEEM token to a new TRON based STEEM token, giveaways to the existing TRX users with the new TRON based STEEM token

    It seems pretty clear Tron plans to abandon the existing Steem chain and move everything over to Tron, timing unspecified. Witnesses can't do anything about it as Steem witnesses have zero control over the Tron blockchain. Furthermore, Tron has already initiated a token swap on Poloniex, and other exchanges are likely to follow. Once swapped to TRC STEEM, current Steem witnesses will lose all control.

    Of course, current witnesses can continue the current chain as Steem Classic or whatever, but Tron's future of Steem is pretty clear now.

    Excuse the plug, but some discussions about this here: https://steemit.com/steem/@liberosist/steem-classic-anyone

  • @simplifylife

    What are your thoughts on the possibility of a potential airdrop of an entirely new token on the Tron blockchain for Steem holders and mayb that works similar to steem power...?

  • @enforcer48

    Where did they get "proprietary" from? Proprietary is relating to an owner or ownership and the Steem blockchain is not (to my knowledge) owned by anyone.

    Steem is a blockchain run by independent block producers called witnesses distributed around the world. You can see them listed here: https://steemd.com/witnesses

    Just wait till Justin give that dormant STINC stake a little push, eh?

  • @zaibkang

    Thanks for sharing this helpful information about steem and steemit partnership with tron or justin sun its helpful to clarify some aspects of this partnership and its affect on steem blockchain

  • @distantsignal

    Funny. I responded to your tweet before I saw this article on Steem! Ha! For what it's worth, I think that this could be a terrible development for Steem. Tron has numerous instances of bad governance and centralization. I much prefer the structure of the current Steem blockchain despite its flaws, but the way it sounds like Tron is governed would be an absolute disaster for those who want more decentralization and autonomy on social media networks.

  • @edouard

    but I am happy to see STEEM and Steem back in the news (even if it's just because of Steemit)

    I took a quick glance at your post from 2 years ago and saw no distinction between Steem and STEEM. Not sure what you meant. Great post though, I really think that the present hype could be bad if people don't put their watches on the same time (as we say in french). Headlines are always really simple but it's quite the task to accurately simplify a community led or decentralized business. It's good that we are at least challenged to capitalize on this momentum and it could help set ourselves apart from other crypto.

  • @bluefinstudios

    I am curious what the large, unspoken votes on the chain, say/... like Freedom, and what about the rest of the witnesses?

    What are they feeling?

  • @dadapizza

    Dude i am super confused lol craziness

  • @preparedwombat

    There’s so much we don’t yet know. But I’m not liking the sound of the token swap. And nowhere is @elipowell mentioned, just Ned. And we’ve seen what kind of communicator he’s been.

  • @justineh

    You and I both know he could easily control consensus with Steemit inc stake and his.. he can do whatever he wants.

    The wording in the announcement is a slap in the face as it’s very much implying they control all of Steem.

  • @ecoinstant

    Thank you for this! I knew it to be true but it is great to hear you say it. I have awarded you my witness vote just now.

    I am building quite a few projects on steem right now, including @quintaesencia working with the Transparency in Governance initiative, so I will do whatever is necessary to defend the independence of our infrastructure.

  • @mariuszkarowski

    but if the Steem community doesn't agree, they can simply ignore any agreements and move on forward using the existing chain as is.

    Amen.

  • @intrepidphotos

    I am of the "all publicity is good publicity" bandwagon. This will either shake up the ecosystem in a good way which we all agree with; or finally motivate the people here with vested stake to start a truly independent blockchain without steemit. Either way we will win in the long run I think. My guess is that they may simply link the steem token to TRX in a claytons way; steem really runs on steempower not steem so they could have steem on Tron and then when you vest it is linked as steempower on the steem blockchain which continues to do its thing and have its own governance structure. I think his main game is increasing perceived user volume on TRX DAp listings so he can get closer to ETH.

  • @gillianpearce

    I was feeling reassured until I saw @liberosist's comment and your response and now I'm not so sure again.

    No point in worrying about it though at this point.

    It would be a huge shame if the communty is lost and I was so looking forward to Steemfest this year.

    Thanks for making this post Luke. Let's hope we hear from a few more witnesses soon.

  • @newageinv

    My early thoughts are that there must be an incentive to current stakeholders to move and swap to a new blockchain which may be dilutive to our stakes. In the finance world, majority stakes have a premium.

    Posted using Partiko iOS

  • @steevc

    There's a lot of negative talk going on, but you are right that Tron will not control the Steem platform, although they may end up holding a lot of Steem. It is resistant to hostile takeovers. That's not to say the witnesses cannot come to an arrangement with Tron. I will be interested in what Ned has to say tomorrow.

  • @mermaidvampire

    I am hoping they (the witnesses) cannot be bought.

  • @bozz

    Well said. I have seen so many posts on my feed about this lately and yours is by far the most level headed and well explained given the information we currently have. I will be interested to see how things move forward from here.

  • @dirtbike

    I'm pretty sure that if Justin is going to migrate steemit to the Tron blokchain, steemians will be given their fair share of the new coin. He is not going to screw over the original users as that is the core of the entire platform. I'm pretty optimistic that this will be a big win for steem holders. We are now backed by a billionaire!

  • @chesatochi

    At this point, I will continue as usual and adapt to this change!

  • @adetorrent

    Don't ruin it. The price is going up. Let it hit $10 before making this kind of pragmatic post mate.

  • @bashadow

    This one thing people will have to wait and see what reality is going to bring, we can speculate and it is fun to do so. If the witnesses do not want to go the direction steemit.inc wants to travel they just do not approve any changes to the code. Nothing will prevent steemit.inc from forking off steem and trying to merge the Tron and Forked Steem block chain, but steem block chain should continue.

    I know some people think that steemit.inc developers are the only steem block chain developing team, but there are others. Steempeak has a team of developers, they have some changes they would like to see and from what I read on one of there post they are prepping their proposal and asking for user input on what will be their HF proposal for after the SMT hard fork. So development will not die as some people seem to think.

    At the end of the day I think we are all going to just need to wait and see, maybe Monday will bring more light to the subject.

  • @jeffjagoe

    Seems like it's going to be a big mess... but I'm hoping for the best.

    If what is being said is true, it seems like the Tron Foundation plans to render the current Steem Blockchain and current STEEM token obsolete... which gets me thinking... was this purchase really just an attempt at a hostile takeover of the network?

  • @starworld

    If I correctly read the information available on the migration of Steemit to Tron, it would seem to me that Steemit will NO LONGER be based on the Steem blockchain, but rather will be based on Tron's blockchain. In short, the current Steemit forum platform and its membership base, is simply being sold to Tron, in which case, Steemit will no longer be controlled by the Steem/Steemit team, but rather by Tron's. Who knows? Perhaps there will be a name change too...how would Tronit sound?

  • @esecholo

    You got burned hard by Steem... Horrible investment... Steem is a good crypto but some of these witnesses are absolutely ruining this chain.

    Nobody actually wants to buy Steem anymore and if they do now its because Tron is making the currency popular in the short term. Might as well start selling Steem soon, after this Tron news breaks out to the masses, that will make the value of Steem climb and then it will collapse once regular users get wind of what's going on with Steemit... Steemit is the second largest DAPP on the Steem blockchain, this move to Tron is a MAJOR blow to Steem (currency).

    Short term gain, or a long term loss. People need to choose soon.

  • @decentralizd

    100% agreed Luke.

  • @yonnathang

    We're home! :v:

  • @flemingfarm

    I am not sure I trust the witnesses to do anything but lock step their way to tron. Shouldn't the witnesses have been putting pressure on Steemit Inc to actually do something with this place? Seems like a massive problem that could easily be forked out of the equation once sun has control of inc's tokens.

    The token swap/sale is direct evidence that Inc cares little for the user base as has been evidenced the past years. Sad really.

  • @ajinkyajagtap

    Thanks for the info. Following you to know more about future developments and to see how this goes ahead for the community in general.

  • @uwelang

    Good to see and read that words @lukestokes - my first reaction was similar. Due to job related busy times I am bit off towards all developments and news. Usually I only have time to play and use a lot of the great DApps on the Steem blockchain in the evening or over the weekend - but now I was a bit shocked and concerned. It is way to early to judge what will happen though. Glad to have people like you still here.

  • @osakaghoul

    tron may offer higher scalability and people able to create accounts without a hassle. This could be a huge thing. The official team to my understanding is running out of money and i think these type of partnerships are good for future, lot of blockchains will do alliances in near future and we have seen that happening already.

    Only thing to worry about is tokenomics, will old chain operate alongside new one or what. However experience with Tron Dapps and DEX's been pretty much hands down best after EOS, so im looking forward to this.

    I also will support people forking out or moving to other chain. I'm very excited nonetheless of the future :)

  • @fervi

    I disagree, but time will tell. Steemit sold its entire token control package, and that's enough to massacre the project. But they keep many projects alive. It's STINC that employs programmers, it's STINC that has the most popular and best working node, it's about them that you have thousands of videos on Youtube.

  • @vlemon

    Great post and thoughts. Very nicely formulated. I never liked Ned but he really is a piece of shit...

  • @ubongj

    This is very explanatory.. Thanks for this

  • @lordbutterfly

    Luke, THATS THE NARRATIVE!!!! And thats whats important with the exchanges. You guys need to band together and "virtually lynch" the witnesses Ned told about this ahead of time.

    We need to stand together and throw such a massive punch to the face of the fucker Justin that THINKS he can buy a blockchain. Thats what he is trying to do.

    HE WANTS TO BUY A BLOCKCHAIN.

    If he manages to do that then Steem has no point in being a cryptocurrency. Dlive was just a centralized website like Twitch and he bought it. Steem isnt Dlive. What happens to witnesses? They dont need you. They have super representatives.

  • @thefirstwave

    I will list you everything that Steemit will receive from a partnership with TRON:

    1. Greater decentralization: With a probability of 99%, Steemit will move to Bittorrent hosting.

    2. Speed: The TRON blockchain is the fastest at the moment.

    3. Popularity: Bittorrent and Dlive users, WinK players and many other TRON applications do not have a common social platform - it will become Steemit.

    4. Convenience: TRON platform is incredibly convenient and has user-friendly interface.

    5. Reliability: the TRON blockchain is resistant to quantum computers.

    And of course low commissions: 0.000001 TRX is enough to not pay a commission at all.

  • @flaws

    I'm very worried about the fact that Tron can centralize everything, I don't think Steem is ready for a fork, how disastrous do you think that scenario could be?

  • @drutter

    https://steemitimages.com/640x0/https://cdn.steemitimages.com/DQmatVxbchr7UNJqKUBbR69iVdxRn3TTP2P94v35aTQ6er5/image.png

    Ironic that this place you're speaking of, and linking to, this place that is immutable and permanent.... is Steemit.com :D

    Sort of funny that you said that, after this post, and the title you gave it.

    As we know, Steemit DOES censor and deplatform. It's the Steem blockchain itself which doesn't.

    I guess you would have linked to that, if you could, but there's no direct link to the blockchain, only to front ends.

  • @vincentnijman

    This was very informative and eased my mind. Much needed at the end of an exciting day. Thanks for making it possible for us hypersensitive, non technical people to sleep at night.

    Signed,

    Li'l Hyper

  • @anthonyadavisii

    Think the first straw could be Steemit Inc shutting down or otherwise deprecating public RPC nodes.

    Second could be public RPC node providers to begin shutting down nodes as load cost continues to mount likely prompting a user exodus and probably sell off -> market crash.

    Last straw will be private node operators to shutdown as well as witnesses. Steem will then be a memory.

    This is my "doomsday scenario" but I'm not all doom and gloom. I see potential opportunities in all of this to rebuild.

    We need to start staging and deploying our backup strategies now. I've already tweeted /posted to this end and to my surprise. @CA_dawg was diligent in putting together a massive repo of forks.

    Steem, condenser and much much more.

    Think we are gonna be fine ultimately but there does seem to be a storm brewing imo.

  • @gregorlcaa

    Nice

  • @gregorlca

    Nice

  • @holoz0r

    No one knows what is going to happen next. The fact this was done on a weekend / Friday means we'll probably be waiting for further news and more answers through to next week.

    It's an interesting chain of events for sure, but it also makes me regret the fact that once upon a time, several years ago I didn't know the difference between Steemit and Steem. The cresencdo in that is the fact that my car's licence plate still reads "Steemit".

    How I wish I settled for "Steem" instead, the true vision that everything I say in a certain place has an immutable history that can be audited by anyone. I like that element. That's what allowed me to make a home in this abstract, yet decentralised platform that feels like the most familiar place, as highly technical as its underlying architechture may be.

  • @leoplaw

    So Steemit Inc has given up on delivering SMTs and handing off Steem to Tron. Too hard, let Tron take care of it. Tron, still haven't come up with a fully working product, so, it is a win win for Tron and Steemit Inc.

    I agree with the overall sentiment, we'll just have to wait and see, because as we know, the cryptosphere runs on hot air, rumour and vaporware.

    @lukestokes Ouch! 9 BTC that must still sing a bit.

  • @creativetruth

    My prediction: Sun's probably going to offer to buy all of the steem users by offering them some kind of "miracle token" if they dump/sell their steem to him and join the new tron/steemit centralized version of the chain. At first, it will be nothing like the current steem blockchain, more confusing, more expensive, and less interactive. Then promises will be made that things will get a whole lot better... (we know how long that takes).

    I can think of many people who will join in and say "everybody's doing it", "it's so much better!' I'd like to think most people will be smart enough not to fall for "I'll take what's behind curtain number 3" type of scam, but I'm not sure.

  • @lacking

    Since I can stop a power down so easily I've started that process. 13 weeks is a long ass time to wait and see if you've been buggered or not

  • @mattclarke

    SMT code is pretty much done, right? And public? So its possible Steem could end up on Tron, and Steem-classic could roll-out the SMT hardfork, minus SteemitINC's stake; meaning each of us owns our original stake, but now on Tron, PLUS a larger relative share of Steem classic, now with SMTs. Or am I missing something?

  • @brianphobos

    Uhhhh Ohhh @lukestokes The Super Delegates are coming for your lunch.

    The 50 or 60 people pumping a profit on this chain are shook.

    Most of us don't really care. I have a bigger investment in Tron at this point and a lot of others have quietly went out the back door with the majority of their money.

    If they do take it to a TRON token and Binance does that conversion because Justin and CZ are boys Bittrex would likely follow suit and the old STEEM wouldn't really be able to be traded anywhere and the community wouldn't be able to rally together and pay the extortion fees to get on these exchanges so it would just end up as a ghost chain with no exchanges like WEKU or something. Also if Steemit INC wasn't doing updates it is unlikely anyone would continue to push updates if the incentives weren't there.

    Most people would fall in line to hopefully join an ecosystem that hasn't slipped so far down the ranks on CoinMarketCap.

    Maybe @ned will play a new song for us tomorrow.

    Those in power will seek to remain in power.
  • @tychoxi

    That's a bit disingenuous, the whole point of this blockchain was that its value was tied to content creation and curation. Not to mention steem dollars/power.

  • @gregorlca

    Hi Sir Please donate me a little :) best regard

  • @marki99

    Well, as you said, token holders ultimately have the choice. Guess who is the only token holder that matters, with the biggest stake? Steemit, Inc. And as you also said they bought Steemit, inc.

    I honestly don't understand how you're not making that link already.

    It's not because the current management at Steemit, inc don't use the stake that Justin Sun won't as well.

  • @forykw

    STEEM hopefully can make history here and show how a technology can really change societies.

  • @justinsunsteemit

    Today, TRON joins forces with the Steem community & Steemit. We are so excited about this collaboration and value the voice of this thriving community. By committing a meaningful percentage of the STEEM token, TRON now aligns the same interests with the Steem community, to bring the value to STEEM token, to keep the core value of decentralization, to grow a one-of-a-kind decentralized social media platform. Steem community and Steemit team have been pioneering the decentralized social media initiative and now with this strategic partnership, together we have more resources, capital and bandwidth to make this goal achievable. The fact both TRON and STEEM went up today post the announcement only proves that the market and industry at large view this partnership as a mutually beneficial alliance. We will work closely with the Steemit team and Steem community on the details of how we will execute this collaboration step by step. Please join us in this endeavor, follow me on Twitter @justinsuntron, and voice your opinions as we pursue this exciting journey!! Thank you!

  • @krazypoet

    True that im with you bro I get it. We knew it was coming. But Positivity however you view it is a must. Tron$ rep is sad, but so is steemit$. But together we are all stronger. We are all reaching for the same goal to decentralize the world. Does not change the greed of imperfect men tho. Nothing is perfect but we take what we can in the most productive way we can. Its not an easy road, be glad it made some good people rich though, who have the same goals with blockchain. We are not at war with other blockchains we are at war with the corrupt system. We have to come together even if it takes swallowing pride and being humble. Let's do this. This is good if we swallow the red pill. Its only a glitch in the matrix. B⃤ E⃤ W⃤ E⃤ L⃤ L⃤

    Posted using Partiko Android

  • @paragism

    I need to know the detailed roadmap. Now everything is not clear. Most probably steemit will become a tron dapp. Steem will exist in two versions: Normal Steem and Steem Tron token.

  • @actnearn

    Let's wait for the AMA to know where are we headed. Its good to let them know the sentiments of the community. We are hopeful they also want community to be on their side of deal.

  • @coininstant

    Yikes, now they are going to try to take STEEM away just as the altcoin rally begins, I hope not! Hope this all works out, fingers crossed????

  • @valued-customer

    "...this is a decentralized community-run blockchain."

    With 1/3 of the voting rights concentrated in Tron's hands atm. That effectively limits the decentralization.

    I appreciate the heart and soul you've put into this platform and I know you're all in. I want every bit as much as do you to see it become the mechanism of transcendence from centralized platforms to the freedom and prosperity for all decentralization and Steem heralds.

    I have concerns, as we all do, that vision is not universally shared, and unknown unknowns presently leer at us from the shadows. I know that with folks like yourself standing with me, regardless of the terror the unknowns might engender, our mutual commitment to a free and prosperous future can enable us to smile right back at it, and keep moving forward towards a better world.

    If our home free of censorship and the governance of overlords is threatened by the dominance of one malevolent stakeholder that threatens to destroy it, threatens to fork it up, we can fork that malignant stake away, and cure the cancer that thinks it can eat us all for lunch.

    Censorship resistance, decentralized governance, and maintaining the freedom from KYC/AML anonymity ensures are my lines in the sand. I hope enough of us have the self respect and confidence in our competence to draw that line and paint it red.

    Thanks!

  • @joythewanderer

    I think it's accurate to say no one really knows yet. If the Tron Foundation controls Steemit's token stake, it's possible they could vote in their own producers and centralize everything. It's also possible the community could decide to fork out their stake to create a new chain (similar to Ethereum Classic or Bitcoin Cash).

    If steemit controls enough SP to decide their block producers, probably they can decide what the legacy Steem token is, right? Then Steem classic will only have value because of its users. How many gonna stay if that happens? I doubt. Where $ is where users is.

  • @yasu24

    Interesting! Resteemed this article. Thank you for supporting Steem community.

    Posted using Partiko iOS

  • @alexs1320

    You are repeating the same thing for years, but fewer and fewer people are listening.

    If Steem is not Steemit, please, Tell me who is using it and for what?

    Oh, yes, there are several online casinos and several sub-mediocre games with 100 active players at best

    How do you people imagine to do something constructive if you keep repeating the same self-deceptions for years?!

    Sorry, I've forgotten... It's Steemit... Place where marginal people who became gods at one moment enjoy their glory

  • @sneak

    Seems to me that if someone buys Steemit Inc, they are now the employers of the developers of the blockchain.

    Of course, the witnesses can refuse to run some new code if they don't like it, and maybe even fork. But practically, a new owner of Steemit means the ability to release legitimate new versions of the Steem software.

    Who knows how well that will go. In my experience, Steem witnesses seem much more interested in "proprietary" chain-specific minutiae that matter to a dozen people than the types of things I speculate any of Steemit's new owners might be interested in.

    It will be interesting to see.

  • @assfaceproject

    It's good to have another voice of reason in the all the confusion...

    Posted using Partiko Android

  • @optout

    I think this is horrible. Sun is a very shady character. This will not do Steem any good at all long term.

  • @coastline17

    Very informative as I was confused on this for a while when I first heard about it. Thank you.

  • @jeff-kubitz

    Precisely!

  • @sjacob

    As a member of the community and Steem enthusiast however, I am concerned that Steem will lose its core values and meaning, wonder whether our voices are truly immutable or if they have been up for sale all along the same as on all other corporate social media platforms.

  • @blackman1970

    So true

  • @lasseehlers

    Lets fork STEEM to #STEEMCASH : https://www.lassecash.com/steem/@lasseehlers/i-don-t-like-justin-sun-s-acquisition-of-steemit-inc-fork-his-stake-out-steemcash

  • @reviles

    This feels like a good way to go but only time wil tell:)

  • @unclemantis

    I have close to $1000 in steem. Did I buy at the wrong time? Will Steem be converted to TRON?

  • @promo.bot

    Good News for me

  • @phusionphil

    I use www.steempeak.com becuase I couldnt disagree more with the ethics practiced by the Steemit .com devs. Im almost happy to never have to hear of them again.

  • @roberto71

    This will be good for the two projects below the fears above the prices and together they will close much more to decentralize the network

  • @u89gw

    nice!!! edited This message was written by guest waivio_waivio, and is available at www.investarena.com

  • @mugsy7

    interesting

  • @doingdailies

    'run by' , you say ? .... that might be right but they're just nodes

    'developed by' ? afaik thats steemit ... excluding a few (d)apps running on it development of the actual chain is steemit and steemit alone , proposals might be given but the witness system is crooked, there's no way of knowing someone doesnt have 5000 accounts ... you can check how many of the auto-downvoters atm are voting on an account named puncakbukit for instance and afaik witness decisions on development are not hardcoded in any way

    all you need is enough nodes to continue, the fact that there's 50 or 20 who have 'decision rights' is nowhere written in stone, thats consensus (i think it used to be 50)

    i have no idea what they told the guy, lol ... i was hoping for change but it seems there will be none afaik its just possible that the dutch guy, aggroed and ultimatt already made ultimata threatening to close down if a migration happened

    but in essence, to function it does not need any of them or i must be missing something seriously missing and im not sure if its better off with or without

    no change is no change ... so if everything stays the same then nothing changes which means actually there's nothing interesting going on

    but i did get suckered into making a few comments

    too many for my own liking

    im gonna have to see something other than 4year old custom json with a nametag on it or something thats been on the shelves and talked about for years 'now suddenly appearing in two weeks' to be interested but actually

    i dont really matter to this puddle either :)

    all in all, other than the happy few who got to sell off during the 48hour bump

    nothing actually happened