Justin Sun tweeted again! Is it time to panic? Is it time to celebrate?
I know everyone is really sensitive right now and scared. We've gone through a lot and it's a little terrifying to have someone new and powerful on the chain. It's especially scary when the first thing they announce is that the Steem blockchain is migrating to Tron via a token swap. That sets a rough stage.
As a group it was looking like we may have gotten through that though...
- Tron announces the token swap
- Something happens that changes his mind
- Justin gets on dlive and says there won't be one and will support the chain
- Conflicting stories come out, tweets get deleted.
- Now we have this tweet.
On first pass reading this tweet it's easy to think he's pushing the exact same message of Token swap and no more Steem as a blockchain, but because I've been paying extreme attention to grammar this tweet isn't horrifying so much as promising. (Grammar seems to be the basis of the fraud that corporations masquerading as governments use to deceive us into consent).
Steemit to Shift Its Proprietary Blockchain & Token to #tron network.
Ok, Steemit can shift to whatever Justin wants (assuming the die hard team of trauma-bonded Steem hardcores at Steemit go along with it).
Proprietary is just wrong. It's opensource. So is the website. Steemit.com, the domain, is owned. Steem technology is for everyone! (PS witnesses have it all backed up).
But both are nitpicking though. The real deal here is the phrase "to the "Tron NETWORK." NETWORK!!! NETWORK!!!
Does that say blockchain? No. Even if he doesn't get everything about steem do you think he knows the difference between a network and a blockchain?
The number 1 threat this community feels was proposed by Justin via the "token swap" to a different blockchain. That would be the deal of a lifetime to a million projects in crypto, but apparently that's not the case to most Steemians.
A shift in tone
He started out with the token swap plan, but this Tweet is indicating a shift. As I read it he's moving away from token swap and into integrating the two together.
What's the best things that steem could possibly ask for? Users! How could we get them quickly? We'd be incorporated into a larger network. What is this tweet saying he's going to do? "Shift Steemit into the Tron network." That network includes 100 million bittorrent users, I dont' know how many tronians, and a marketcap of billions. that's a good network. To me it's a dream network to leap into. As a businessman I'm thinking about the massive potential this brings. It's unprecedented for Steem.
And if the whole conversation hadn't started with a token swap this would be hands down thrilling!
I get the fear factor is high here, but I maintain this could be the biggest opportunity for Steem in the history of Steem.
Here's the next full sentence.
"Tron has partnered with steemit." Technically they acquired them and that seems like wordsmithing to make that more polite.
"A major blockchain-based blogging and social networking website." Yep, steemit.com is a website that uses a blockchain.
"to provide its network for #steemit services." What's this mean? Well get rid of the middle and put it together. "Tron has partnered with @steemit to provide its (tron's) network for #steemit services"
That's a great sentence too. Tron has partnered with @steemit. @steemit is referencing steemit as a company. To provide [the Tron] network for #steemit services. #steemit is an acknowledgement that steemit as a business is different than steemit as a service. #steemit is closer to the website or the #steem blockchain. So, he's saying he's going to provide the #tron network for #Steemit services.
Again. That's bad ass!!!
Seriously, there's a scenario here where Steem literally just hit the blockchain lottery!
This is all great, but what if he's just going to nuke steem and we want to stay on steem?
Well, for that you'll have to consult the founder of blockchain defense mechanisms. Theodore Roosevelt-
Justin owns steemit.com, a bunch of Steem, 2 opensource repos, and contracts with some very talented and extremely devoted steem hardcores. He's now integrated with passionate content creators, business leaders, and elected witnesses.
In the worst possible scenario envisioned by Steemians where he attempts to shut down steem I imagine the following happening within a week.
- The chain splits. Nearly everything is left the same except Steemit stake is zeroed and a new name is applied to the chain.
- A bunch of infrastructure appears overnight to replace the steemit nodes. Full nodes cost $50/month to run now.
- Existing relationships are used to open up exchange listings for the new coin
- Steem devs come out of the woodwork to help
- Versions of steemit.com appear overnight supporting the new coin
- People power down and leave
- Justin has 75M steem tokens that are plummeting in value, a chain that's vacant, a website no one uses, and a PR disaster.
What's the best case?
Exactly what I read in the tweets he's making.
If I had to say outloud my number one hope for the next step for Steem it would literally be this. And I'm cautiously optomistic it's happening.
Maybe I'm naive. Maybe I'm an idiot. Maybe he's a liar. Maybe this is terrible, but FOR-NOW I'm really fucking stoked, but also preparing for the worst.
And he has 75M steem now. He's aligned with making Steem kick ass. Which do you think is easier to do 10X steem or 10x tron? My guess is that with minimal effort he can net a hundred millions by helping this place rather than squashing it. And that's good for the WHOLE-NETWORK.
What's in it for Tronians?
Well, if this thing works out then all the apps and dapps that get built here because this chain suits them will incorporate tronlink and accept tron, and build all the voluntary bridges possible. Troners get new apps, new sinks for Tron, new tron hodlers, and Steem gets new users, new investors, and new opportunities.
Shit's exciting. Incentives are aligned. Preparations for the worst are underway.
Overall, I currently see this a giant fucking win, and here's hoping the eternal blockchain upvotes us all.
Lastly, I lost a whale vote on my witness and dropped to 16. It's a struggle to be in the top 20 without the @freedom or @blocktrades vote. I'm literally the only one on the chain who is doing that. If you value what I do here please vote for my witness or proxy to @minnowsupport. We don't have to agree on everything, but if you think that I bring value to the Steem community and the Steem token price please vote my witness.
Update 1. @d0zer found this
Which was released today. It says two conflicting things. 1. Steem will move to the new token. 2. Steem will join the ecosystem.
Clearly this story needs to be followed.