A cautionary tail of poking a sleeping bear...

Sometimes it is better to let sleeping bears lie then to poke them and have them eat your arm.

Anyways, here is the timeline of recent steem events:

• Justin Sun and Tron buy Steemit.com and Steemit,Inc from Ned Scott in Mid February

• Next few days Justin Sun and Tron announce buyout but give very vague and conflicting details on how it will be structured

• Top witnesses band together and decide to initiate a soft fork to prevent Justin Sun from putting new witnesses in place

• Top witnesses initiate Soft Fork to preserve the steem governance

• A week later Justin Sun gets exchanges to power up their steem and vote in 20 new top witnesses in order to gain access to soft forked (out) steem

• Several long time steemit,inc employees resign

• Several exchanges pull their witness votes

• Steem community rallies up support and gets 7 new (old) witnesses back within the Top 20

• Another long time steemit,inc employee resigns

• Justin Sun tweets witnesses hacked the blockchain and held his property hostage

And that is basically where we stand right now...

(Source: http://metooquarterback.com/poke-the-bear/)

Does anyone have any questions on things?

I know I sure do!

Overall, I personally think most here are going to be ok either way, eventually. At worst there will be steem classic and steemtron, with classic likely being similar to the status quo from the past few years and steemtron likely being the coin of steemit.com and the one marketed and promoted by Justin Sun and Tron.

The price of steem may go lower in the near term as those frustrated over the current happenings exit, but in the medium once the dust settles term I think current holders may end up alright.

The price of steem may even go higher in the very near term if there some form of price war in order to get each side's witnesses in.

To me though, this mostly just looks like Justin Sun reacting to his stake basically being frozen, which he viewed as a hostile and unprovoked event.

He responded in a way that many probably would have had they been in a similar position.

This isn't me endorsing what is going on here, but I do understand it and it doesn't surprise me.

Either way, we will know more about his specific intentions as the week goes on.

The community rallying like they did today and getting their own witnesses back in was encouraging to see.

Which is another reason why I think most here are going to end up ok either way.

Stay informed my friends.

-Doc