Fork! Just What I Needed...
Whereas that announcement had me concerned about the immediate future, the one today makes me think about the long term future as I think it is fracturing the most valuable component of the ecosystem, the community. While I appreciated the wording on the Steemit announcement regarding the community's decision to the future of the ecosystem, I always believe actions speak louder than words.
At this point, I am still undecided on what I will do with my stake as I honestly now consider it a lottery ticket for the future. I am leaning towards also selecting a powerdown just to be more liquid in case of opportunities as my stake is probably not going to incur in any opportunity cost in the short term. It would be sad to go that route as it could really hurt the long term value of the ecosystem and what developers and community has built over the last three years.
However, we learn a lot from these events. I am glad that I have been selective of exchanges in the past as the actions seen today from some of them is concerning. Luckily, it only proves that we should never hold assets on an exchange as we all know, "not your keys, not your crypto." I wonder how liquid they can become if all owners ask for their crypto/Steem. It may be a digital example of a modern day bank run! Perspectives will be interesting to evaluate as "bad actors" can be seen very differently across the community.
For me, this is poor timing as my schedule this week between work and my relocation will be a nightmare. Adding this is unfortunate as I have been looking forward to writing some posts about my experiences with the moves as well as some assets I have been buying the last two weeks (luckily, not Steem). The age old rule of not "putting all eggs into one basket" is key here as I can live without Steem being worth anything so I wish luck to everyone on the edge!
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Yep, rough start to the week @newageinv! As I wrote about here in this comment sequence with @steemchiller, while I was not a big fan of the SF 22.2 move, I really hoped to be proven wrong. Guess not ...
Serious, serious dialog underway about what to do now, as there is a lot of water under this bridge and this "relationship" between Sun / TRON is barely 2 weeks old. If the proposed Hard Fork is executed, then wow ... Very, very expensive mistakes made ...
Not that you or I are asked for our opinion. I hope you get through matters closer to the heart and home there and don't let all of this trouble you too much. Hopefully you can stay focused on what you have some influence over ... 👋
Definitely interesting! I will be particularly interested to see how the exchanges spin their actions. The DPOS concept is also being challenged with this as blockchains continue to be challenged with their technology and adoption. A good learning experience to say the least!
Yep, although the Steem blockchain is "ground zero," the actions of CZ and Binance, as well as the others, are going to be widely debated for some time to come ...
We'll see soon enough, what we learned, if anything!