Is a STEEM fork approaching? We´ll have STEEM / STEEM TRON Tokens
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Is a STEEM fork approaching?
What would be the consequences? Would it be something beneficial?
With the recent acquisition of Steemit.inc by Justin Sun, many analysts believe that an upcoming Steem fork is imminent.
In fact, certain events are happening that indicate that this may be a reality in the medium or short term.
Let's analyze ...
In my previous post, I talked about how whales can benefit from bifurcations and I took as an example what happened with BTC and BTC CASH.
When the Bitcoin Cash chain forked off the main chain, Bitcoin owners became owners of an equivalent amount of Bitcoin Cash. This is because the chains were identical until the fork occurred.
If a STEEM division occurs, the holders would own the same amount of STEEM and STEEM-TRON tokens.
This is a golden opportunity for large investors and for the so-called "Whales".
A rapid market capitalization is making STEEM prices increase, this may be the preparation of the land in anticipation of the fork. Instantly they can own two well-capitalized currencies. Think about it.
But ... how long would it take for this fork to occur? (13 weeks)
The sale of Steem.Inc, involves the sale of intellectual property, the Dapp Steemit and "the Stake". The Stake is the SP of the users.
That is, our STAKED STEEM was sold to TRON.
In the face of uncertainty, many holders have started POWERDOWN. This with the hope of having the liquid Steem, take it to the Exchanges and protect its capital in some other type of cryptocurrency or token. All this while the period of uncertainty passes.
But as we all know, the Powerdown takes 13 weeks. For this reason Justin must act within those 13 weeks and offer the best possible solution to Steem users and holders and convince them to stay.
A massive Powerdown would significantly affect the economy of the Blockchain Steem.
On the other hand, all projects based on delegations, such as @project.hope for example, as well as large Curation Trails as @curie and @cervantes would be affected, since to perform the Powerdown users must cancel the delegations they have active.
Not everything is bad news.
Forks are usually beneficial for blockchains. This is part of their evolution.
Strategic partnerships will always continue to occur between large and small businesses.
Those who think that Justin Sun is a fool who likes to lose his money, are very wrong.
No person in their right mind would make a substantial investment in the acquisition of goods, and then destroy them.
He saw the value of Steemit. He is appreciating the true value of Steemit.
I am sure that positive times will come for everyone. The first improvements are already being felt with the recovery of the value of the currency.
Justin Sun stated that SMTs will continue their course as they are currently being developed. This is an extremely important and trust-generating decision.
Developers will have the opportunity to adapt their Dapps and continue to work with Steemit.
But in the face of the possible wave of massive powerdown, Justin must act quickly and give concise statements that build trust.
In my personal opinion, I will continue publishing and working as I have been doing. I will continue to trust Steemit.
Those of us who have stayed here and suffered with a 0.07 $ Steem in 2017, who have lived through so many HFs and have seen how half of the active user base left, must be certain that better times will come for Steemit.
@juanmolina
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@juanmolina, I may be completely wrong but in my opinion whatever is going on it's not making any sense because in yesterday's Livestream it's clearly reflected as Justin doesn't know about Steem much and with that said, Justin said they will launch SMT's, now that means SMT's going out of Steem Blockchain?
Then calling Old Steem and New Steem on posts, then saying that now New Token will represent on exchanges as Steem. And then said that we will work towards the growth of Steem and Steem Users.
Some may take it contrary but yesterday's Livestream was sounded like a Joke, in my opinion only most interesting aspect of Yesterday's Livestream was Justin Sun's 10% Laptop Battery 🔋 Life. 🙂 👍
I am enjoying this Journey but definitely Steem Community deserve better information and clarity than yesterday's Livestream. I am always bullish about the Steem Blockchain. Stay blessed.
So far after seeing yesterdays AMA I'm more optimistic about future of steem and steemit than I was when @Ned was "our captain". Before we had captain who didn't give a shit, had no money, no marketing skills, no vision, no contacts and was full of sh*t.
Justin may not be the perfect solution, but right now I think that things will either get better or worse. But at least we may start moving in some direction.
Cheeers,
Piotr
Hoping that we will going to move Forward. Stay blessed brother.
Here is the catch about this fork: you don't get to keep both tokens. It will be a swap, so you will have to give up the old steem tokens.
And what will happen to my Steem Blockchain account?
We all have a Steem account. With it we registered with Steemit.
The Steem tokens that I own are directly related to the blockchain. NOT exclusively with Steemit.
When migration is done, we should preserve our reputation for steemit. If we want to keep our voting influence we should keep our stake.
Then suppose the swap is done. Each of us takes his stake to Tron and will the liquid steem remain on the STEEM Blockchain? That is what you say?
Makes sense.
I just posted this explaining better how I view this situation:
https://steemit.com/hive-175254/@phgnomo/the-steem-is-dead-long-live-the-steem
But basically, steem blockchain will keep going, as long as there is witnesses a running it, but all the support will be removed from Tron foundation.
People will have to choose Wich steem they want to use, because a token swap means you have to give your tokens in exchange for another.
Once the swap is completed, the tokens you have had staked will no longer be "steem", nor will they belong to you.
The original Steem tokens will remain on the blockchain steem (obviously) and belong to Justin. Who will have to buy them all and make an exchange for the new Steem-Tron token.
What will be the platform chosen for this mega-exchange?
The exchange will be made 1: 1 for another token of which we do not know its value. And, assuming that its initial value is the same as 1 STEEM, we don't know what behavior it will have in subsequent weeks or months. It could lose value, then we would all be sad and feel that we lost our money and our time.
But it could also increase its value. Then we would all be very happy.
https://twitter.com/JuanMol63152204/status/1228914823423053824?s=20
#posh
Thanks for the post, I'm worried, but I want to trust that the steem blockchain is going to survive this particular situation in which Sun has bought a fairly emblematic company that I read has 10% of the total circulating Steem.
As we are in a stage of speculation, then let's speculate:
Maybe Sun wants to take over the entire Steem Blockchain.
Then he started by acquiring Steemit.Inc.
He is playing huge chess. While distracting your attention with pawns, he is placing an bishop in line with your queen.
@tipu curate
Upvoted 👌 (Mana: 5/20 - need recharge?)
Dear @juanmolina
One of the hottest topics right now :) Wherever I look I see people discussing current events and wondering if this is hostile takeover.
For many "small people"- current takeover may be nothin more than changing 'ruling party'. Those in power will change, but show "must go on". And it will. With current whales (of which many are very hostile towards users) or without.
Right now my impression is, that if FORK will take place then those who will stay behind will have to deal with old witnesses. For many people it may be a great deal, however I never managed to receive any support from any of them except of @thecryptodrive. At the same time I was downvoted, threatened and insulted by few others.
Would I rather move away from current "rulers" or would I rather stick to them? I know my answer already. Do you know yours?
Large amount of SP is being locked in delegations. That would require extra week to cancel those delegations. Definetly cancelling delegations it will affect many projects our there.
And reality is that Justin already acted. His recent interview with Ned proved that his communication skills are already better than Ned's and lowering tension is surely a priority.
Wouldn't you think that Steem with @ned as a captain (the way it has been for very long) was kind of going nowhere? I surely didn't have much hopes earlier on for better future. Justing most likely will care more about our community than Ned did.
Have a great monday buddy,
Cheers, Piotr
It was just Steemit and not Steem. Steemit may just have their own SMT and scale to ensure easy exchange between Steem and Tron.
Hello Friend how are you?
Time without knowing about you.
When I say STEEM I refer to our cryptocurrency.
I am aware that the sale was from Steemit.Inc.
Right!
In fact the exchange will be both ways.
Tron will bring his presence (capital, money) to the blockchain steem.
That will be good for Steem in the long run. How I see it, if the number of people on Steem remain the same and we have new money from TRX people, it's a big victory for Steem
You´re right dear friend. I agree.
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Hello @juanmolina, thanks for sharing your opinion.
Sabie decisison friend, I think we have reason to be optimistic, it is illogical to invest a lot of money just to destroy valuable assets, I also think they are seeing the potential of steem.
hi @juanmolina
As I have been saying, I think everything will be positive for us because it lacks logic that someone invests in something to destroy it, so I don't think Justin takes that path, it is a matter of being patient, optimistic and waiting. Meanwhile, creating positive noise and adding is the best thing to do, from my point of view.
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