Question, what is TRON actually buying? The Steemit Inc Stake? The Steemit Inc developers? Do they think they bought the blockchain?
Why have a token swap to a new token? Why would they need that at all as they do not need Steem to make a new token and it would be ridiculous for them to buy Steem tokens and then turn them into TRC or whatever they will call it? If they want Steem dApps on their network, they do not need Steemit Inc for that at all.
Interesting times for sure!
I am also guessing there isn't much need for Steem Witnesses over at TRON, which is interesting in itself. About a year ago there was talk of forking Steemit Inc out of the chain, well, it looks like @ned may have forked them. Maybe bent us over and forked all of us. There doesn't seem to be much open discussion from the witnesses at the moment and I am guessing they are as confused about what it all means as everyone else.
Well, since Steemit Inc are/were the main developers for both of these, it obviously brings their realization into question. What is a strange one is, TRON could run an SMT on the Steem blockchain if they wanted a new token, as that is what they were designed for, right? It will scale at least.
As said, TRON doesn't need Steemit stake to attract Steem dApps, as they are independent, centralized and owned interfaces and experiences. All they really need to do is make some space and offer them an incentive to move on over. However, they don't even really need to do that either if they can develop interoperability between the blockchains so that they can service both/ many communities.
Generally, companies can buy other companies to get access to a user base, which is why Facebook bought WhatsApp for 19 billion dollars, but the Steemit community isn't very large in comparison to the purported 20 million in the TRON ecosystem, so it seems like a little bit of a waste of money.
However, I have always said that the community on Steem is the most valuable thing about the blockchain as, it is we who are the users that give it use case. Without users, not much of value happens here. But, buying stake (however large) doesn't mean the community come part and parcel with it - this isn't the Steem company, it is the Steem blockchain. The thing is, Steem doesn't need to fork to keep going at all, it just has to keep going as it is and as long as witnesses keep the chain running, it runs.
Yeah, me too. But, as I have said often enough, dealing with uncertainty is part of the investment game and in uncertainty there is a lot of potential. I have no idea yet about token swaps and migrations and the like but, one thing is for certain, no one can buy the blockchain itself as, it isn't owned. I think that all in all, while it is going to create a lot of speculation, it seems that what TRON want is to build a partnership of sorts with their ecosystem and the Steem community and blockchain.
Perhaps we have something they need, perhaps they have something we need.
Taraz [ a Steem original ]
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It's a token pumping opportunity disguised as a company sale IMO.
Few months back when I saw the news about tron buying steemit I thought it was a rumour. Like you said steemit is about the community and I guess that's what tron needs. But why the token exchange? Is something I am yet to understand
Indeed there are many uncertainties we just got to watch and see them all
This has all the earmarks of a hostile takeover. Are SP hodlers just supposed to say sure, go ahead and swap my Steem for your shitcoin?
It’s early on and we certainly don’t know all the facts, but right now my gut does not feel good.
Tron has very few users. The 20 million figure quoted is absolute bullshit. Check out stateofthedapps.com/rankings:
These are the only Tron apps listed:
Pitiful. At least someone is using Steem apps. Nobody uses Tron. It's all marketing, hype and money. I own Steem Power and thus a small degree of power over blockchain governance. If STEEM were a token on Tron, I'd have no power on blockchain governance. Nor would I have any Resource Credits.
Yeah. Not really sure how this is all going to pan out.
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They could always have an incentivized token swap and reward in bonus TRX along with your new steem or something similar. Time will tell but Justin is not stupid; and he knows how to play to a crowd (who often act like sheep with the right incentives).
Yeah, confusing but two things I know, Steem is greater than Steemit and Steemit dev are not the last cookie in the box, Steem Blockchain have excellent developers.
And the price keeps going up...
This is either going to be the smartest thing ever happened or the reason ned's name will live in history as the the biggest idiot of all times
It makes sense for Tron to create a token on their network that represents Steem. Tron's inflation economics make no sense and Steem is superior. If they buy a huge chunk of Steemit Inc's stake and airdrop it onto TRX holders it could be very interesting.
Communities / SMTs? Well, since Steemit Inc are/were the main developers for both of these, it obviously brings their realization into question.
It would also be really good if Justin hired his own small team of programmers to learn the Steem ecosystem. He certainly has the money for it.
I guess we'll see how it turns out? Could turn out fine or be really ugly... reminds me of HF21.
Holy shit, I got a baby and take a few days off and suddenly this happens.
Why can't #steem keep it's shit straight without me?
"The thing is, Steem doesn't need to fork to keep going at all, it just has to keep going as it is and as long as witnesses keep the chain running, it runs."
Maybe. @steemit stake is substantial enough to control the witnesses, and if Tron has acquired @steemit's stake, which it appears it has, then Tron can replace extant witnesses with ones that support whatever Tron wants to do to the code.
In that event, for Steem to continue to operate as it heretofore has without changes to code Tron may seek, Steem will need to fork out @steemit stake, essentially becoming a new platform and token to enable legacy operations.
I guess we are in the "wait and see" mode. maybe some answers tomorrow, but most of the times when Ned did do videos or spoke, no real answers were forthcoming. Imagine this could be the digital Saint Valentine's Day Massacre. Well speculation is bound to be rampant, and is sure to lead to some entertaining reading. Maybe by Monday we will know more, then again, maybe not. After all one of the last things Ned posted was about a new project he was working on, and nothing hardly at all since then.
The value is going up but not sure what Justin wants. I read the medium post. Justin bought steemit inc. It is irrelevant knowing steem is decentralized. I am thinking Justin will try to elude us to come over his new social media, hoping steem blockchain to go hiatus
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Interesting times... I guess my time off is over as plenty of diligence will be needed to see how us stakeholders proceed. 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.
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This whole thing is so confusing it had a physical effect on me - I'm tired. A bit sleepy, even. Just like that. 😔
“However, I have always said that the community on Steem is the most valuable thing about the blockchain as, it is we who are the users that give it use case. “
I think this is the key. It is actually exactly what I was thinking must be one of the main goals here. It’s a big difference between just numbers and true numbers. Maybe we are not so many on the Steem blockchain, but we are real people, we are devoted, we know about blockchain technology, we breath decentralized technology. Like you say the value is within the community, and our ability to influence in the crypto sphere
What interesting times we live in!
Steem always will be good for Tron Let's see if also will be good for Steem
from reading the comments, people are very concerned and confused.
You said this in a comment "Sorry about Steem... it may be ded." I assume you mean dead and do you really think this?
My speculation: Since Block.one is about to launch VOICE, Tron maybe needs a equivalent counterpart. And since the Tron Foundation didn't developed a model to do so... Maybe Steem will become what Voice will be for Eos. Could be positive to put money and communitys together.
Steem as a whole would make a good torrent tracker.... Just saying. LoL.
I really don't know how I feel about this.
A huge part of me is saying power down, and just move on. Idk, it's becoming too much stress, and stressed things break. Am I at my breaking point?
Nahhhhh... but this isn't helping.
Long live STEEM!!! RIP Steemitians, you never existed to begin with. Sorry for your loss Justin Sun, you baught a sinking ship that we were gonna fork out anyways.