Steem - If the news wasn't already confusing enough, wait until you see the Yahoo.Finance version...

in #steem11 days ago

If things weren't already confusing enough with the Steemit/Steem/Tron/Justin Sun news, wait until you see the latest version of it on Yahoo.Finance...

There are about a dozen news sites now reporting the latest news regarding steem and tron, most of which say pretty much the same thing.

And it's all confusing and unclear on the details.

The Yahoo.Finance piece, however, is right near the top of that list...

With an emphasis on this portion:

However, there appear to be conflicting statements regarding whether or not the Tron Foundation or Justin Sun actually acquired or invested in the startup behind Steemit.

When reached prior to publication, a press representative characterized the deal as "a partnership move to scale Steemit operations."

When asked if Tron Foundation had made an investment in Steemit, the representative said:

"No, Steam chose to move to the Tron blockchain and the two wil launch a joint accelerator to promote more development of the Steemit platform."

When reached for comment shortly after publication, the Steemit team said in a statement: "A mutual agreement was made on both sides involving Steemit's future and more than money, Steemit required the infrastructure and community support of a scalable network that only TRON provides."

Sheesh!

So many things sound off with that, it's tough to even know where to begin!

The article in its entirety can be seen below:
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Blockchain-based social media platform Steemit to transition to Tron blockchain

The Tron Foundation and Steemit Inc have announced a strategic partnership that will see the blockchain-centric social media platform migrate to the Tron blockchain.

"TRON and Steemit’s development teams will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain," the companies said in a press statement.

However, there appear to be conflicting statements regarding whether or not the Tron Foundation or Justin Sun actually acquired or invested in the startup behind Steemit.

When reached prior to publication, a press representative characterized the deal as "a partnership move to scale Steemit operations."

When asked if Tron Foundation had made an investment in Steemit, the representative said:

"No, Steam chose to move to the Tron blockchain and the two wil launch a joint accelerator to promote more development of the Steemit platform."

When reached for comment shortly after publication, the Steemit team said in a statement: "A mutual agreement was made on both sides involving Steemit's future and more than money, Steemit required the infrastructure and community support of a scalable network that only TRON provides."

Yet Ned Scott, Steemit's co-founder, said on Twitter after the announcement that he "sold Steemit to [Justin Sun]."

Sun did not immediately respond to an email request for comment.

Hints before announcement

Tron founder Justin Sun indicated that such an announcement was forthcoming during a podcast interview earlier this week, as noted by a Steemit user in a writeup on the appearance. Sun was quoted as saying that the Tron Foundation has

"We are backing the projects but we are not the person to lead those projects," he remarked. When asked by host Ryan Selkis if that includes Steemit as well as crypto exchange Poloniex, Sun said yes.

"And also of course Steem, like we haven't said anything about Steem yet. So, its all, like, in commercial, like, discussion. We haven't, like, released any news," he continued.

This article has been updated with additional information.

(Source: https://finance.yahoo.com/news/blockchain-based-social-media-platform-160041426.html)

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Looking forward to some much needed clarity tomorrow during the AMA with Ned Scott at Noon EST.

Stay informed my friends.

-Doc

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Holy shit. We are all fucked.

Hahahaha

Posted using Partiko iOS

Goodness. Part of me hopes that Justin just deletes Steemit so we can remove this confusion between Steemit and Steem. What a shit show this has been. No announcement from the official @steemitblog nor @elipowell. The fact that we have to wait for an entire day just stinks. Why no coordination?

No announcement from the official @steemitblog nor @elipowell.

This was Ned's doing, solo. Steemit employees couldn't speak on his behalf. And we all know when Ned does a thing it's flawless, right?

Pretty sure there's been a lot of coordination. It's just that none of it involved us. Why discuss meatpacking with cattle?

this is why eneryone hates steem as a investor. Is like the real amatuer PR tactics. Nobody knows what happens.

It will be very interesting to see what the community will do in the following days... most probably a lot will start "power down"!😉

Some will... Others will start voting posts like horny Easter rabbits to hoard as many rewards as possible...

i like it :) hits the nail on the head :D

Honestly, it would surprise me if Ned shows up for the AMA

He’ll probably play some guitar lol

Posted using Partiko iOS

Posted via Steemleo

Baahahaha, Play Freebird!!

Posted via Steemleo

No play Don't Stop Me Now

Nah, he'll be the backing vocals.

Thanksfully not. I hate to be negative, but that guy always has annoyed me :D

There is something odd about him haha

As much as I'm disappointed with whatever deal has been struck with Tron, I'm relieved that I don't have to worry about what Ned will do next. He seems to have zero communication skills, not ideal for a social media platform.

It's obvious we are screwed and that these two guys (Justin & Ned) are terrible at business. WTF kind of press release is that!?
The guy bought (I think) a social media blogging platform and then he release an ambiguous press release that creates 10X more questions than answers.

I have to say though, the announcement by @ned today saying he will take questions tomorrow (huh?) keeps right in line with his business "acumen".

Posted via Steemleo

if neither did buy out the other, then they must have formed joint venture... As a person with degree in business administration, I see no obvious alternatives...

"A mutual agreement was made on both sides involving Steemit's future and more than money, Steemit required the infrastructure and community support of a scalable network that only TRON provides."

Just this week on the Witness chat JustinW was saying how he believes Steem will scale better than most, if not all, other blockchains.

Another piece to a foggy puzzle.

Posted via Steemleo

Hes fuding right off the bat to justify the swap. Steem with SMTs, in my eyes is far superior to TRON in absolutely every way.

I believe that is the consensus of people on Steem.

Posted via Steemleo

Network might not mean blockchain, but network of people?

Just remember: Justin is the master of marketing. I think it's all part of marketing this confusion.

But... let's see what tomorrow happens.

Indeed, stay informed.

I think they want to push value of STEEM and SBD as low as possible before the swap, so the correction after the swap will be bigger... The real question though is what will happen with all the Steem Power during the swap... Maybe all the ifs will be answered eventually, but some people are lazy to dig up the information...

Tron may be buying the steemit dev team and expanding it significantly. In this deal they're certain to scoop up any major profit. I can see some scenarios where this situation is much less of a big deal than everyone thinks. Centralized companies get bought all the time and just carry on after business as usual... just a matter of funding and profit sharing.

Bingo. My main takeway is more resources for steem and steemit to help them succeed.

"...Steam chose to move to the Tron blockchain..."

So Tron is where we go to play games now?

"Steemit required the infrastructure and community support of a scalable network that only TRON provides."

This is rediculous statement. it is the other way around. STEEM is the better chain and did just solve the infrastructure/scalability problem forever. it makes no sense to migrate to TRON, because that is a downgrade.

I don't know much about the token, but I am quite sure that transactions are not free...