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RE: Old Chinese statues at the Temple of the Reclining Buddha.
This is a good and short conclusion of what is happening.
I don’t know how long Steemit will last. Sunny could power down within shorter time (than the old rules of 13 weeks). Then, he could sell all his Steem to recoup his investment.
Take care.
I checked your powerdown in your wallet.
You could make your powerdown go faster if you cancel and redo it.
Mine is 25%... I have 6179-> and powerdown amount is 1545. That's 25%. (4 weeks)
In your case... you have 1613 -> and your powerdown amount is only 160.
but 25% is 403. You could get more now if you cancel and redo your powerdown.
at 160, it will take you 10 weeks!!
This means that sunny will kill steemit in 4 weeks, I suppose.
You mentioned that
The answer is 4 weeks!!
@kaminchan
So also we can assume that J.Sun will artificially pump up steem in about 25~30 days to get as much bitcoin as he can from selling off his STEEM (just like he did with HIVE).
Thanks! I was thinking the same last night!
Too tired! Must get some coffee first!
Cheers.
I am not certain whether he will dump Steemit or when he would do it.
The question: Does he see Steem blockchain as a useful tool in the long run?!
He had made lots of enemies already. People now know what he’s really like as a businessman.
Will those remaining bloggers continue to play his game? There are still many big accounts with lots of Steem. If half of them start powering down and get out, what would happen to the price of Steem.
Is it worth his while to continue to prop up the blockchain for the remaining bloggers?!
So, if people stop blogging, there is no income stream or much reduced income stream. How could Sunny make profit out of the company?
There are so many questions with no answers.
But he would be able to obtain all the sleeping accounts’ Steem after the owners have left.
The blockchain may be intentionally degraded so that people could not move anything or do anything. Natural degradation would make him look better in public.
Of course, I may be wrong in my speculation.
Wait and see.
I think you are right @kaminchan. They are always looking for an excuse.
I find this man very interesting! He reminds me of someone used to know!
He won't end well in the long run, though.
We'll see.
So what should I do? Power down on Steemit?
I noticed that full power down takes only 4 weeks now!
Do I power down and sell, and then buy Hive?
Or, is the money in my Hive wallet still there? I don't get it.
Later, if my funds in steem are inaccessible, does this mean that it would be gone from the Hive wallet, too?
Give me some insights here. Thank you
Your fund in Hive wallet is very safe; it’s on another blockchain, more secured as they have most of the best programmers from previous Steemit Inc.
But I don’t know what will happen to Steemit wallet in the medium term. Other people, who still don’t know what’s been happening, will probably have a big shock one day!
Now, Blocktrades has stopped buying Steem from our old wallets, because of the secret hard fork.
I have difficulty trying to deposit my fund with Poloniex.
How do you get your fund out of your account?
Cheers.
P. S. Just found an old post in Thai about the transfer of fund. Quite a learning curve!
For me, I send it to Binance.
Just did it after having some food! That post was very good and understandable.
I have bought BTC with my fund. Now, I just wait for the right time to power up my Hive account!
So glad I did it without making any mistakes. The other day someone was complaining about losing lots of money because of missing Memo.
Cheers.
oh most definitely we need the memo! the memo is the thing that communicates with sending the money to the exchange!! yikes. Without the memo, how can the money get there? That's like sending snail mail with no address or zip code.