BREAKING: Ned Sells Steemit to Justin Sun of TRON
In a shocking Tweet which came to the public just a few hours ago, @Ned the chairman of Steemit Inc announced that he has sold Steemit (for an undisclosed amount) to Justin Sun, the founder of the TRON blockchain. Ned Scott was quoted in the tweet as saying "after four beautiful years, I have sold Steemit to Justin Sun."
A few moments later, Justin Sun via his official Twitter handle confirmed the deal by replying to Ned's tweet with the following words, "Steemit 2.0 Steemit #TRON and #Steemit leading in a new era of decentralized social networking."
The announcement has been trailed with mixed feelings. A Twitter user by the username Sergio Mendes responded:
However another Twitter user named Stephen Kendal expressed a high level of optimism when he tweeted:
Similarly, another Twitter user simply identified as R.W Michaels believes that Steem is now in good hands with Justin Sun. Here is how he puts it:
The news of Steemits purchase by Justin Sun has finally become official after weeks of speculations on the cryptospace. With TRON's market cap and Justin Sun's influence in the cryptospace, it is expected that his acquisition of Steemit will build some hype around Steem which could lead to some bullish trends (as we are already seeing) for the Steem token in the coming days.
The question of whether Steemit will succeed or not depends on to what extent the blueprints of Steemit Inc under @Ned is executed and the confidence in which the stakeholders have in the new management. Hopefully, there are better days ahead for Steemit and perhaps Steem.
Steeemit.Inc was sold but what about the blockchain?
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I think the blockchain is not part of the deal for now.
Is it steemit that was sold or the steem blockchain. Also what do we say about SMT, is it a mission impossible?
so many questions, right?
I also wonder what was sold to them.
According to what the tweet says, what was sold was the company Steemit Inc.
But I suppose this is going to affect the Steem Blockchain, I am looking forward to seeing the effects.
Steemit was sold, not Steem. As for SMTs, only time and Justin Sun will now tell. Cheers!
It somehow came to me quite as surprise. I don't think I really believed that this could happened. And yet.
What's your view @gandhibaba?
I've shared it already on your latter question. I think this news will be generally positive for Steem as it will give us more exposure because of the prominence of Justin Sun (the dude met with Warren Buffet recently) and sits and dines with crypto gods. I hope that I am not wrong. Cheers!
Well, I'm pretty surprised, I think I read a week ago that Sun was interested in investing in Steem, but I wasn't expecting this news.
I'm also quite surprised at what is happening. As long as Steem keeps going up, this is a great news.
Dear @gandhibaba
I've been just reading about STEEM Token Swap on poloniex and I was wondering - what does it mean to all those who powered up all their STEEM?
Will we witness entire blockchain powering down? That would require cancelling all delegations, right? In that case all curation trails would also receive a serious hit. Most current projects would collapse (months of looking for support with delegations).
I'm also curious if Steem-engine will be affected - and how? Any view on that issue?
Also I wonder if we can still expect HIVES and SMTs or those promissed will not be delivered. Quite worrying questions.
Yours, Piotr
Hello @Crypto.Piotr,
Sincerely I cannot pretend to have answers to all the tough but quite important questions that you've raised here. No one knows exactly what is happening until we reach more updates in the coming days.
I don't think this will happen because what was sold was Steemit not the Steem blockchain. The stake that we powered up is on the Steem blockchain, not Steemit.com. If Steemit migrates to TRON, there will be clear cut procedures on migration that should be seamless.
Steem-engine is built as a side chain and can decide whether or not to migrate to TRON. It shouldn't be affected.
This will now be up to the TRON foundation that will replace Steemit Inc.
Above all, my responses are my opinions and could turn out entirely wrong. But I believe that there are better days ahead for us. Sun will want to make his money back, and that can only happen if he gets the confidence of the Steem community. We'll see what happens. Cheers!
In my opinion, this is a change for the better. I remember when there was the problem that TRON had when they said it was a scam and made it drop its price, dismissing it harshly. Still, it stood up to the situation and continued to work and is still more used than STEEM itself. This change of hands, I am sure will allow Steemit to grow and evolve. Maybe this is what this blockchain needed to be promoted and known by the whole world.
If anything, I'm sure it's a hell of a great way to promote Steemit.
Thanks for the news
https://medium.com/@TronFoundation/steemit-joining-tron-ecosystem-6ad66584d0b
Thanks for stopping by. I think I agree with you that it is for the better, really.
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I am optimistic about the respective one, I think this was the momentum we were waiting for in steemit and that this time things will be going well, although I have the doubt that it will happen with SMT?
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Yea I share your optimism too and believe that SMTs will be launched as Sun stated during the AMA. SMTs may come on TRON, no one knows for know. Cheers!