Thoughts on TRON acquiring Steemit INC?

in Steem Think Tank3 years ago

Details are still low resolution and we don't know exactly what it all means so lots of this is speculation... but...

Seems like a lot of discussion going on in chats on discord/slack.
But why not have a discussion here on Steem Blokchain... which btw was not acquired today.

THOUGHTS? Let's use communities to do what they're made to do.


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 DApp listings so he can get closer to ETH.

Very interesting idea that seems like a maybe viable compromise.
We just need to maintain governance and stay decentralized.

Having tron working WITH us is not a bad thing in my opinion. It's whether or not they want to control us.

Agree; but Justin would know that steem is not made up of passive users but a rowdy bunch of independent first adopters. Lets just see what they announce tomorrow. I am optimistic on this; first time I have seen steem come up in my generic crypto news feed since ... well since forever.

Another thing to consider is that poloniex may just be creating a liquid swappable method between tron and steem.
If poloniex has to make sure it's always liquid that means they may never power up the swapped steem and thus have no impact on governance.

This for me is the crux of the matter. If they have no intentions on our governance and are only here to add an awesome service. Then i'm likely to say

"Welcome TRON with open arms"

For me I really want to know what their intentions are on governance.
And I guess what they plan to do for development on the blockchain in the future.

Agree. We will all find out in time. Prepare for the pump like we have never seen before as if Justin is good at one thing its media.

How can i prepare... my tokens are pretty much all locked up in SP.


  1. poloniex buying tokens to swap is so that there is a bridge between the two sets of tokens. They keep them liquid and they don't use them for governance. And we get an awesome need feature set.
  2. Ned is officially out and those tokens are now held by tron foundation that we can hope is more decentralized... having those tokens not centralized in the hands of one person is a big win.
  3. Tron chooses to not screw with governance and their stake is not held by one individual.
  4. They see that steem and steemit could make them some good money and they believe in what we're doing and want to help with our visions.
  5. They continue to employ developers to build the blockchain
  6. They also start integrating lots of tron dapps for us to use.
  7. They integrate bittorent which tron owns as a way to host content.
  8. They bring lots of hype, better marketing and maybe some money

This could all be amazing news... that's one timeline. I'm an optimist so that's what i'm hoping for.

You are right @jarvie, the blockchain was not acquired.

One point to consider is the fact that Steemit Inc does the coding for the blockchain and they are going to Tron with the acquisition. Thus, all the projects in the wings, like SMTs and RC pool, are likely on hold.

Tron could keep hiring those blockchain developers and keep them doing those projects. Or they quit and work for the community.

Seems like a lot of discussion going on in chats on discord/slack.
But why not have a discussion here on Steem Blokchain...

This is something that always puzzled me. Why do people always go off-chain for these discussions?

which btw was not acquired today.

Just speculation, but my "reading between the lines" of that announcement makes me suspect that Steemit believes they have enough stake to install a panel of friendly witnesses and control the blockchain's destiny.

Lots of unanswered questions at this point...

"Why do people always go off-chain for these discussions?"

Couple reasons spring to mind: the chats there aren't on chain, and thus permanent records - and potential evidence at trial. Also, DMs. We need DMs on Steem yesteryear. Memos are too clunky and public.

Couple reasons spring to mind: the chats there aren't on chain, and thus permanent records - and potential evidence at trial.

Good point. That's a difference in perspective. I generally assume that anything I type on the Internet or in e-mail is permanent, but if you don't start from that assumption, then chat would make sense for some purposes.

There are also bots and voice/video messaging that make chats more useful. I guess I overstated my point a bit.

Memos are too clunky and public.

Too clunky, yes. It's actually possible to encrypt a memo and make it private by preceding it with a pound sign (#) though. I think that a better user interface could actually make Steem's DM capability pretty useful and private.

Even encrypted comms provide metadata, and history reveals that is a useful attack vector for bad actors.

I do agree with you we need DMs.


Yep exactly ... let's move the chats over here in general.

Two thoughts, off on a tangent: (i) I wonder how long Sun has been loading up on Steem at bare-bones prices - maybe from Steemit's monthly sales. He could have considerably more stake than just what he bought from Steemit in this particular transaction; and (ii) At least Sun "eats his own dog food". He's doing the AMA tomorrow on DLive. That's a nice contrast with many of the Steemit folks, who have never really made any substantial use of their own platform - at least under their own names. It could bring a nice boost if Sun were to start blogging here and linking to it from Twitter.

Back on point, I'm having a real hard time visualizing how this token-switch is gonna work. Totally migrating the blockchain along with author and curation (and beneficiary?) reward functionality would take some serious time & effort, and the announcement didn't say anything about SBDs, delegations, the SPS, free transactions, or SMTs. It's a lot more than just a token. All that technology adds some serious value for someone to just stroll in and destroy. I don't see it happening.

I'm imagining something more like a TRON-based token that's pegged to the Steem token, so that everything on-chain stays basically the same (at least for a period of several years of migration and integration time), but anytime someone trades out through poloniex, their Steem gets parked and replaced with a pegged TRON token that they can withdraw into their own wallet...

I'm definitely interested in learning what comes up on tomorrow's AMA. Hope I can make it. Overall, I guess I remain optimistic, in a guarded way...

My feeling is that it's starting to sound a bit better from what I'm hearing. Like they may not have big aspirations and conniving plans already... but may just like the company and want to be involved and just want to make both chains work. Nothing really solid to go on... but i'm starting to feel less worried.


This is something that always puzzled me. Why do people always go off-chain for these discussions?

Chat is easier sometimes. Depends what kind of conversation you want. If you want a well thought out conversation. the chain is the way. If you want an emotional conversation, chat is better. imo

The chain can always be forked without Ned's stake if it becomes a problem, can it not?

the info is i sold something and on the other side i bought something. and we don't know what is sold and what is bought. and Son doing an announcement on Dlive :D

I think we will burn steemit employes if all the work will be halted and they knew that it will happen (remember that the rumor started a long time ago).

Official staitment from @steemit (@steemitblog) would be nice, but we know how the communication is from their side so not expecting much.

What I can say at the moment is confusion... not a lot of details and maybe an intention to make steem a tron token .... like make a platfor a token .... how will that works out for all the devs ... what about smts, communities ... also looks more like a ned deal than the Steemit inc ...

Waiting for more to form an opinion, but for now ... initialy ...its not very positive

Yeah I was excited, but the more that is discussed and the more I think about it the more I realize how most people on Steem right now are the ones getting screwed.

Would love to hear your thoughts @jarvie.

I agree would love to hear from @jarvie. I need to do some more research.

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@gniksivart @dkid14

Posted a couple dozen thoughts in the comments.

Will be interesting to see what the market does in response. Could go either way.

If tron foundation needs more STEEM maybe they keep buying it up?

Yes exactly; I think that would be there plan to pump it as it helps the media cycle about this kick off to get a bit of FOMO going for the swap .

very hard to say at the moment, a lot of questions, what will happen with the Steem blockchain, are all DApps moved to Tron or will there just be a token swap (in both directions)? But with TRON's marketcap and exposure Steemit can become a top crypto project again 🚀 Exciting to see what happens, crypto is always good for surprises.

A two way swap just so Tron can claim user base increase while the steem main chain survived intact would be the best outcome.

Honesty, the most annoying part is lack of information. Justin's announcement was for sure just a marketing thing.

We have no idea about the details regarding the "integration", why did they need to create a "Tron-Steem", literally what the fuck is going on?

This just leaves everyone sitting here going... "Uh, what?"

Guess we should just continue on as normal until actual details drop...

Not sure what's happening exactly just yet but seems like people are all excited about it :D

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