Steem update regarding the change in ownership

mexbit (60)in #steem • 5 years ago

In the last few days I tried to digest this change. It could have been easier if the new owner had not posted some information about migrating steemit.com to Tron and later deleted it again. Not sure if some assistant was using his twitter and he had something not understood...

One thing which is totally clear to me is the fact that @ned is gone is a huge plus for me... how on earth could he manage this great project so poorly and then hand over the management to a management team which does not hold any Steem (at least that I know of). The incentives were misaligned in my eyes. Also @ned sold all of his stake after making bold posts like "EOS will render Steem anything over my dead body." - so really? This is like he was fighting like a lion over making the project a success?

The Steemit Inc developers themselves were doing a decent job regarding advancing the blockchain, some projects were distracting and counterproductive (EIP for example), others like including some ads were really an act of despair... You are holding as a company (supposedly) 80 million Steem, so at the lowest point still 8 million USD worth, but need to recur to AdSense (also called AdCents) revenue to keep the lights on? This can hardly be explained... if somebody can confirm the 80 million Steem figure please leave a comment...

If there were no 80 million Steem then the question is why would Justin Sun buy Steemit inc, so my best guess is those must still exist. Patents to the technology could in this case be a reason for buying Steemit Inc and then use the technology in his TRON project. In either case I think the almost finished SMTs will start soon.

Assuming that Justin Sun holds millions of Steem, either by buying them the last 18 months on the market or by buying those through buying Steemit Inc I think he will bring fresh air to the project and have the price soar, as he has no money constraints and is a visionary with a lot of energy in my eyes.

So all in all my view of this situation is very positive although there are some unknowns regarding the details and motives for the transaction. We will have to wait and see what his next steps will be.