Thoughts

Since the announcement about the acquisition of Steemit, Inc I've written and subsequently scrapped three different multi-page posts about my thoughts on the situation. I know I should post something to the community but I have been struggling with what exactly I want to say.

I don't want to come out reassuring everyone that everything is going to be fine since I don't really know if that is the case. At the same time I don't want to spread doom and gloom since there is definitely the potential for this to be a very positive change for the platform and the community.

I should also note that I have no insider information or knowledge about the current situation or any future plans, so I'm dealing with the same set of publicly posted, and very conflicting, information as the rest of you.

The downside is that a new entity has taken ownership of a large and potentially controlling stake in the platform, and more importantly has significant control over what the name "Steem" represents. It is possible that the ultimate plan is to move everything over to the Tron blockchain, as was indicated in a number of publicly posted communications, and any attempt to do so would certainly be a serious issue for the future of the Steem platform as we know it.

On the other hand, Ned is no longer in control and in his place is an organization with significant resources and expertise in precisely the areas that Steemit, Inc has been severely lacking. If STEEM gets listed and integrated in all of the places that Tron is currently - from exchanges, to Samsung, to the Opera browser, and more - and if it can be marketed and promoted to a similar level, it can do absolute wonders for the price of the token and unlock a world of new possibilities and opportunities for the growth and development of the platform.

A number of people have asked me what they should do in response to the news, and to that the only thing I can say is that you should carefully consider the facts of the situation along with your own personal circumstances and do whatever makes the most sense for you.

As for me, I am going to continue building, promoting, and generally pushing for wider adoption of the Steem platform as I have been doing, and I will try to use whatever power or influence I may have to turn the Tron acquisition into as much of a positive development as possible.

No matter what may happen in the future, I am honored and extremely grateful to have been a part of this community and this experience with all of you.

@yabapmatt


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  • @quantumnachos

    if it wasn't for your game and community built around it encouraging me to increase my crypto investment i would have likely left steem over a year ago(as it was the 1st thing that got me excited about investing in steem). i don't regret sticking around and im glad to have spent the time i have since then within the entirety of the steem community. you were a major contributor to that and i can only hope this isn't the beginning of the end for steem as we knew it. thank you yaba for all that you've brought to the steem ecosystem.

  • @deniskj

    I am just hoping Justin actually sees the benefit of having Steem as a separate entity from Tron. Waiting to see how it all develops.

  • @farizal

    BUIDL

    As for me, I am going to continue building, promoting, and generally pushing for wider adoption of the Steem platform as I have been doing, and I will try to use whatever power or influence I may have to turn the Tron acquisition into as much of a positive development as possible.

    Steem on and continue building addictive DApps like @steemmonsters

  • @dhimmel

    Thanks for sharing your thoughts. My feelings are similar. The outcome is a big question mark, with opportunity for major growth or destruction of this platform.

    However, now that I think about it, the situation is a win-win. One possibility is that Sun helps market and grow Steem without trying to convert it to a Tron dApp. The other possibility is that Sun tries to make Steem a Tron dApp and the resiliency of the decentralized system is tested. If Steem can't survive such an attack, then it's best to know sooner rather than later.

  • @reddust

    I want to see what is happening. I came back after leaving in disgust over management issues. This is an adventure for sure!

  • @andy4475

    I'm not very knowledgeable about Steem or Steemit Witness politics. So it's kind of nice to know that you are just as confused about the future (same as me). My SP is low so I won't loose any sleep worrying about whatever happens here, but I hope it's BRIGHT :)

    • Thank you for your honesty and frankness 👍 Time will tell I guess $trdo √
  • @abitcoinskeptic

    Thanks for your opinion. Good to know top witness is in the same boat as the rest of us. I think we should consider to push STEEM and STEEMIT (and possibly mrdelegation and whatever else got big without having to collect rewards or buy on the open market) accounts use the 'no vote' function...or at least think about having a proposal vote/survey on the idea. If 100 million SP says do it, maybe he would do it.

  • @rotfl

    We live in the interesting times here on STEEM.

  • @clove71

    I think it is going to be a great thing but regardless, Splinterlands is going to the MOON!!!

    Posted using Partiko iOS

  • @goldmatters

    I appreciate your thoughts Matt.

    I agree it’s super difficult to give any sort of analysis when really what we are doing is purely speculating.... but imo thats no different than any other time in the history of steem.

    Of course we have no idea what the future holds here, but did we ever? It’s my position that literally anything is better than the direction we were going pre tron and the price of steem had been a crystal clear signal that this wasn’t working.

    People often pointed to SMTS and Communities as a savior and as cool as I think those ideas are, as we know ideas are cheap and only execution matters. The truth is we have no idea what these two unproven features would do without a budget or marketing machine behind them but I suspect it would be... nothing.

    To me Communites while great, just bring us up to par with any regular social media site and who knows what SMTS are going to be. Without a utility tokens are meaningless and likely a very small percentage will have any value.

    My position has always been that the biggest and most existential mistake that Steemit inc made (with the caveat that this is circumstantial and i dont know all the details obviously ) was keeping funds in cryptocurrency which most people running a company would consider pretty reckless regardless of how bullish our opinions are on the crypto space.

    This is getting long winded but really my point is that I think this is a net positive for steem because without this level of funding that tron can provide I feel like we were in big big trouble.

    I’m cautiously bullish on the partnerships and like you, plan to support steem any way I can.

  • @coruscate

    Thanks for the witness update! Can always count on an honest and thoughtful response from you. ☺️

  • @apshamilton

    At the end of the day Justin Sun will move Tron over to Steem (not the other way around). Steem has better tech, a way better community and he doesn't control Steem but does control Tron so its the only way integration will work.

    He is a businessman who has made a big investment. Once he sees that his new platform is way better than his old he won't be nostalgic - he will make the correct business decision. Don't be surprised if he renames Steem as Tron and says he's moved Steem over to Tron but actually done the opposite.

  • @enjar

    If anything it brings up any weakness people have in their own handling if things of things if it goes one way or another. It’s always good to let the wins ride and this could be a huge win. I found it alarming how many content creators never had a backup of their content when things were going down and where freaking out.

    Always good to have backups and other plans in place if needed. Otherwise everything else should be busy as usual. Perhaps a new spring in many peoples steps if needed resources end up getting poured into projects as a result.

  • @bala41288

    Thanks for sharing your thoughts. We can continue our contributions to this chain with a cautious thought that the efforts we have put in so far shouldn't go in vain.

  • @cranium

    Thanks for the truth!

  • @jaynie

    As for me, I am going to continue building, promoting, and generally pushing for wider adoption of the Steem platform as I have been doing

    Yip. That pretty much sums up my way forward too. :)

  • @coininstant

    I hope we get some change cause the big witness themarkymark always flags everyone and acts like the sheriff on my blog!! I’m waiting for him to get fired, and for justin sun to fix this horrible situation!

  • @honusurf

    We need change, i need to move to tron!

  • @stuffbyspencer

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  • @epic-fail

    I wish you would have been the CEO of Steemit from the start. We would already be on the moon by now, oh well.

  • @chesatochi

    I keep going as usual!

  • @steevc

    I am carrying on as before with Steem. I do not depend on what I make here, but it is fun and I want to help other people who are far more needy than me. Justin is a businessman, like Ned, but he may be better at it. He just needs to understand that he cannot take over the Steem blockchain. If enough people see his actions as hostile they will fork it away from him. I really hope it does not come to that. People from the Tron community are signing up to Steem and it could become their main place to blog. We have a lot of cool dapps that add value and they might also move away if they feel threatened.

  • @lucylin

    I think whatever happens, it's a shake up for Steem.

    This place had an air of quiet, sinking, desperation, which now (how it feels to me, anyway), has gone.

    So it's all good, imo.

  • @coinchaos

    "The downside is that a new entity has taken ownership of a large and potentially controlling stake in the platform, and more importantly has significant control over what the name "Steem" represents. " -Yabapmatt Maybe if the community took their responsibilities to the network seriously there would be nothing to worry about, but..... We all know what happened over the last few years. lol

  • @oadissin

    The adventure on the steem blockchain continues for the greater good of the decentralized Internet. Peace.

  • @joythewanderer

    If STEEM gets listed and integrated in all of the places that Tron is currently...

    big if

    Thanks for sharing your thoughts with us, Matt.

  • @resiliencia

    Glad to hear this words frm you Matt!

  • @rosepac

    Superfluous, but it's okay to know your opinion.

    Nevertheless. Can anyone tell me if it is worth moving Steem's power to Steem today, or leave what little I have? as I have it..

    A small quick investment advice? Thanks, greetings : D

  • @jaki01

    Thanks for your thoughts! It's obvious that where there are opportunities are also risks involved, but nevertheless I tend to consider the recent change as positive.

    Considering the huge influence which Justin Sun potentially has when it comes to witness votes (and thus the control of the whole blockchain), I think every single STEEM account should only be able to vote for five to (at maximum) ten witnesses!

  • @binkyprod

    I too am waiting things out. I expressed in a post, which I tweeted to Justin Sun (probably won't read it but it's out there for him if he wants to read it), my hopes for the platform and such.

    If it transforms to something that no longer fulfills the needs that Steemit was fulfilling, then I will see what I do, but for now, I'm posting, still delegating, and just waiting to see what happens next.

  • @macchiata

    This is me going forward too !

    As for me, I am going to continue building, promoting, and generally pushing for wider adoption of the Steem platform as I have been doing.

  • @phusionphil

    You are Keeping My Witness Vote!!!

    It would be a complement if Samsung was interested in this platform, Justin Sun makes Javascript shitcode for webaddicts, nothing revolutionary I see abut Tron just got luck and made a few good deals.

    Nvidia is selling raytracing so really people will buy anything it seems, but not me. I will not be buying Tron and I am HAPPY I AM NOT ENDORSING TRON! I have no clue WTF Tron is but my cryptographer friends call it javascript shitcode.

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  • @shortsegments

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  • @rentmoney

    Thanks for sharing your thoughts @yabapmatt.

    As you said, the potential upside is there but so is the downside. Only time will tell what is next for Steemit/Steem.

  • @andrepol

    Thanks for sharing your thoughts. When I today saw you being at place 1 and then 2 of the witnesses, I blogged about this. I'm now taking a European break and look forward to find new perspectives in the moring.

  • @hone.heke

    Hi @yabapmatt, I see you as one of the very few sane Witnesses we have. It would be great if you could bring some balance to this situation through your commentary. I also know you as possessing integrity and substantial communication skills. Is there a chance that you could take a prominent role in the next conversation with Sun?

  • @shortsegments

    ✍️

  • @stefano.massari

    I agree with what you wrote. I also think that STEEMIT's weakness has always been marketing and now with this change of leadership, marketing could improve.

  • @karenmckersie

    Hi @yabapmatt , I installed the keychain on Hive but have been unable to post or do anything on Hive as It keeps saying to add my private posting key , it keeps telling me the posting key has not been added when it was added. SO I have not used and cannot use Hive now for 8 days, Do you know what's wrong!? Should I try to delete everything and start all over!? Thanks and keep up the great work! 😳 https://sdk.bitmoji.com/render/panel/402ccdad-3037-4e74-a13b-ddd639b1b29d-2b851cb9-3222-436b-9bb7-ff7645be9ace-v1.png?transparent=1&palette=1