The Potential Upside To Justin SunsteemCreated with Sketch.

in SteemLeo5 months ago


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For the past few days, after the new broke of Justin Sun acquiring Steemit Inc, we have hashed and rehashed the downside to all this.

The question is will we see some upside?

To answer this, of course, we are going to have to presume Sun is looking to maximize his investment in Steem. He is sitting on roughly 70 million tokens meaning a massive increase in value of this ecosystem could end up rivaling the value of his holding in Tron.

If this is the case, what is the benefit of a guy like Sun being involved with Steem?

Money

The most obvious starting point is the money he has. This guy is not poor nor are his projects running on a shoestring budget. If there is something that needs to be done, money does not stand in the way.

For the Steemit Inc team, this is going to be a departure from the norm. According to what was said the other day, the company never really left "survive" mode. Sure it added advertising to the website but that does not go very far. Overall, decisions were made, mostly, based upon the expense that came with said decisions.

This will not be the case with Sun. He is not going to worry about a few thousand dollars holding something up. Naturally, this does not mean there will be reckless spending. What it does mean is sound ideas will likely get funded.

It is something that takes on new meaning with the introduction of a couple make rollouts. With both Communities and SMTs being launched in the next couple months, the ability to throw money behind them is very appealing. It is imperative that the word get out about what these upgrades do for Steem and the entire cryptocurrency industry.

The resources are now available for that.

Marketing

This is something that was overlooked by the Steemit Inc team for obvious reasons. When operating on a tight budget, the marketing funds are usually the first to go. As just mentioned, with two major upgrades on the horizon, it was likely that not a lot of stir was going to come from marketing.

We now are looking at a different situation. It is ever more likely that a budget will be established for the marketing of these features. This will help the rollout and bring more eyes to Steem.

At the same time, Sun, by the way he behaves, is a marketing figure. He has large followings on social media and has a way of keeping his name out there. The lunch with Warren Buffett is a prime example. He is now known by many outside the cryptosphere for that.

If one of the things holding Steem back was the lack of attention it was receiving, this should no longer be the case.

Controversy

There is no doubt that Sun is a controversial figure. He elicits strong opinions. Many love him and think he is great; others call him a scammer and a farce.

In this way, he is similar to another controversial figure, Elon Musk. Perhaps this is by design since Sun many his money investing in Tesla stock (along with Bitcoin).

It is often frustrating to deal with these type of guys. They make things up as they go along, shooting from the hip if you will. Their timelines suck and are often off by a country mile. Thus, we have to dig through all they say to determine what is real versus exaggeration.

It doesn't matter whether a guy like Sun is pacifying his supporters or stirring the anger of his detractors. What is important is that both are paying attention.

A Face

Steem lost the known face when Dan Larimer left. He is now associated with EOS. This was coupled by the fact that Ned went into hiding, opting not to promote Steem nor Steemit Inc.

While success can come without a face, such as what happened with Linux, Steem is now tied to one of the "big names" in the world of cryptocurrency. Sun is up there in name recognition with Buterin, Larimer, and Hoskinson.

At the same time, tied to the marketing, Sun has no problem putting himself out there in the public eye. He is not a "behind the scenes" guy. Attention is something he appears to enjoy which will only draw more eyes to his projects. Steem is now one of those projects.

Quick Decisions

This came from the interview with @andrarchy and @exyle. One of the things Andrarchy said that was so important was that Sun was the type to take an idea and say "do it now". There was no waffling or wavering.

In an industry that can, at times, be fast paced with a lot of innovation, that is vital. Much of it might stem from having the resources to do what is required to back these decisions up. Whatever the reasoning, the fact that projects are going to starting moving is crucial.

Once again, the track record over the last few years seems to indicate that Steemit Inc operated in the reverse manner. Decisions took a long time to make and then, even when they were, it took forever to get started. Couple this with the constant shift in focus and it is easy to see why things were slow to get done.

It appears that the opposite will happen now with Sun involved.

As mentioned Sun is controversial and his acquisition of Steemit Inc falls into that category. However, if things do go right, there is a lot of potential upside for him being involved in Steem.

We will have to see how things unfold.


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Posted via Steemleo

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Someone to blame for the stagnation here is no longer the whipping boy. There is a buzz. Tron has some good marketing and a story.

All of this is passively good for the blockchain. Imagine Justin isn’t just some Chinese government funded, Huawei-type data collection agent and an actual investor and innovator! Then we are talking positive growth we have all been keeping he lights on for.

Interesting times and about to get more so I think!

Posted using Partiko iOS

For some reason steem has much more impressions in twitter than tron !

I find myself wondering if he's willing/able to hold SBD to the peg.
If he throws a heap of money at both sides to keep it at $1, that would be incredible.

Many times in the past I mentioned @justinsunsteemit and #Tron as an excellent example of marketing for steem or steemitinc.
Mostly I earned laughing or no reaction at all, now you can imagine how happy I was as I heard Justin buying Steemit.
In my eyes, the best what ever could happen to Steem. 👏👏👏

Posted using Partiko Android

Those characteristics of Sun are so revealing, though very positive for a cryptocurrency community like steem.

The only aspect I'm worried is the "do it now" syndrome which is not the best strategy for a community-governing platform like steem. if this shows up, we'll always have a feud generated.

In all, he looks to be a great leader that will help us scale the crypto platform like steem to high heights.

Posted via Steemleo

Justin will probably just create buzz for Steemit (on TRON) and his blockchain. Expecting him to shill STEEM (the blockchain) is a bit too much to expect.

What's also too much too expect is for the public to be able to tell apart the Steem blockchain and Steemit. The difference is lost on most journalists and even some Steemians.

It was always that way and will always be.

Until the name Steem fades into the background and the DApps move front and center, we are going to see the ongoing confusion.

Posted via Steemleo

What I indended to say with the above was that in the hypothetical case Justin Sun decided to shill Steemit while letting Steem fade into oblivion, he wouldn't be able to do that because it is impossible to advertise Steemit without advertising Steem.

Why would Sun want Steem to lose value when he is the majority share holder by a huge margin?

After replicating Steem on Tron he might want the original chain dead.

It Makes No Sense To Try And Jam Everything Into A Single Blockchain

Who says the man is sensible. After all, he's jeopardizing the reputation of Tron by actively meddling with Super Representative elections with his large premined stake.

How do we know he's REALLY playing with his own money? Some of these Musk-like guys get all their funding from the major PTB... And any platform that can currently be used to question those same PTB--even a little bit-- will always be a threat to them.

@taskmaster4450, Thank you so much for sharing your Viewpoints.

In my opinion Choice Of Words by Justin Sun creating Confusion, i may be completely wrong but this is my opinion, where Justin Sun said that swapping will happen between Old Steem Coin to new Steem TRON Coin, in a way it's sounding as, existence of Steem Token is in question.

In my opinion still there is so much clarity is needed to process with it.

Have a wonderful time ahead and stay blessed.

Posted using Partiko Android

There is still a lot of uncertainty taking place.

The original stake is still a major issues.

Posted via Steemleo

Then let's wait and see. Have a great time ahead.

I see a lot of people concerned about any potential switch over. The fact remains though that he does have to legally give notice and a proper amount of time for those invested here to power down their stake rather than to take it over to tron. If he fails to do so he could face multiple lawsuits, maybe he has the kind of money needed to settle those suits I have no idea...nor am I invested enough to care with my measly sum but if I was worth thousands or millions I surely would be.

Thank you for your feedback. We never know what will happen. Let's flow with the Cycle Of Life. Stay blessed.

Very informative article! Thanks for sharing your insights!

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Absolutely... Hey Taskmaster can you drop me an email? I want to run something by you and see what you think.

Where at?

I am on discord taskmaster4450 #9768

Posted via Steemleo

Hmmm... interesting. It prompted me to look up Justin and Tron on wikipedia which did not paint a favorable image of Tron https://en.m.wikipedia.org/wiki/TRON_(cryptocurrency) - I know wikipedia can portray the bias of the authors which makes me wonder about others opinions?

Posted using Partiko Android

very interesting...

Unless he takes steps to eliminate the ability of nasty, ideologically-bent people to downvote every post of others without ever posting themselves, nothing else he does will ever matter.

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