The Take Over: Welcome To Our New Overlord Justin Sun (My Opinion On The Current TRON/STEEM "Merger")**UPDATE: New Video By Justin SUN Inside**

in hive-167922 •  2 months ago  (edited)

On Valentines Day it was announced,

Ned Scott (Steemit Owner) sold STEEMIT to Justin Sun.

My Thoughts And Opinion On That Sale

Before I get to my Opinion On The Current News That Justin Sun Bought Steemit first lets take a look at the events that transpired before the official change of power. As noted above the transition of the Steemit ownership was announced on Feb.14th (valentines day thus prompting me to poke fun at the timing of the announcement with my box of Steem Chocolats in the opening screenshot).

Lets go even further back ..... In December of 2019 I reported the rumor on my Steemit blog in the topic, Steemit Has Been Sold?? (Articles & Source Provided). I was by no means the first to report but it was at this time the Rumor of a TRON takeover/merger was a very hot topic among those of us who frequent the Steem blockchain. This news mainly came from one source but was being reported by many different news outlits. A couple of those reports and sources can be found below.

NewsLogical

Founder Justin Sun is set to add to the collections of projects he has at hand, as a report claims the CEO is set to purchase content distribution platform Steemit.

Source: https://newslogical.com/tron-sets-to-acquire-blockchain-content-platform-steemit-report-claims/

Huoxing24

Mars Finance APP (WeChat: hxcj24h) reported on the front line that on December 9, according to people familiar with the matter, it was revealed to Mars Finance that Tron is about to acquire the blockchain project Steemit. Five days ago, Sun Yuchen, the founder of TRON, revealed on Weibo that two recent mergers and acquisitions have been completed.

Source: https://news.huoxing24.com/20191209235130489696.html

....Early Indication Of The Merger (Take0ver)

In January of 2019 it was reported by NewsLogical that at the niTROn Summit in San Francisco, Tron Foundation listed ORACLE among its partners. It also listed Aurora, Steemit, Pantera and some other firms as its partners.


Source: https://newslogical.com/oracle-steemit-already-partnered-with-tron-trx-but-no-one-is-talking-about-it/

After the announcement of the sale, Justin Sun and former Steemit owner Ned Scott had AMA (Ask Me Anything) broadcast on Dlive and also streamed and answered questions from other social media outlits such as Twitter. Below is a replay of that AMA originaly created and posted by Steem witness @aggroed.

Now For My Opinion ....

I think its obvious that STEEMIT is going to be headed to TRON. To think otherwise is wishful thinking, Justin Sun is all about building up his brand which is the TRON brand. What-ever his initial reason for purchasing STEEMIT was, its very likely thats the plan that is still in place. In his video when answering questions about STEEM(it) and its future he more often than not ended his answer with,"For Now". That to me means, yous can continue on with what yous are doing but the orginal plan of migrating to TRON will still take place.

With his purchase of STEEMIT he manage to aquire a large stake in the STEEM ecosystem. Not only did he get the most notable interface on the STEEM blockchain he also attained a large amount of STEEM tokens. There's been rumblings about how much in total he has attained but regardless of that total number, it's allot. In fact its enough that he can dictate who our top witnesses are thus regardless of if you like it or not puts him in a very powerful position.

The powerful position in which he fairly and honestly attained scares many. There's been many conversations and post created threatening/ discussing a fork in which removes this power from Justin Sun.

My thoughts on that ....

Justin Sun attained his STEEM and the Dapp Steemit fairly and honestly. If the witnesses and community here are willing to simply fork him out that sets a very bad precedent. Who is going to want to invest a pile of money in a blockchain in which the community is willing to fork out someone who has fairly attained his stake. From a logical standpoint, I certainly wouldn't.

What's Our Course Of Action

First we have to remember that STEEMIT is not STEEM. Justin Sun can migrate STEEMIT to Tron but he can't just up and take the whole blockchain. The blockchain can and likely will still exist after the migration of STEEMIT to Tron. When this migration takes place, its reported that a token swap will be offered. You give Justin Sun your current STEEM token and then get a STEEMTRON token in its place (which will further add to his holdings of the orginal STEEM token).

Some will take that offer and others will not. This will split the current STEEM group in two and then we have a battle of Original Steem Token vs. TRON Steem Token and its very likely Justin Tron wins that war. The reason for that is a token is only as valuable as the exchanges that accept it as a currency for trading/selling. Justin Tron has more resources in this manner then the broken up STEEM community will have and the majority of the Exchanges will likely side with him and list his new Steem token and remove the current. If the exhcanges decide to keep the current STEEM token listed than that will be a huge win for the STEEM community that decides to stay with the blockchain we have all come to love and enjoy.

Forking Justin Out Shouldn't be done but ....

We can "fork" ourselves out. A clone of the current Steem blockchain as we know it can be created and we all start fresh and push forward to the goals that are already in place. I see this as a morally acceptable thing to do while not jeopardizing the integrity of the STEEM token / blockchain.

Current Best Course Of Action ...

In short, Power Down but don't panic. Having liquid STEEM allows you more options than having Steem Power in which takes weeks to fully turn liquid. You should also keep in mind that Justin Sun spent millions to aquire these new assests (Steemit and his STEEM tokens) and it isn't likely he wishes to see either burn to the ground. Lets take a look at one of the screen shots I already posted in this topic and that is being shared by many other Steemians in their topics on this subject. Full disclosure, I haven't started a power down yet and don't plan on doing so anytime soon.

It's not all bad, things may very well work out for the better. Justin Sun is a smart man and is very successful with many resources at hand. He quotes some partnerships such as Samsung, Opera in is tweet and he also mentioned them in the AMA video. I have no clue what this man has planned but he certainly peaked my interest so lets not come to the conclusion of the worse case scenario but lets look at this from a positive but skeptic standpoint and open our eyes to all the new doors that have just been opened.

Share Your Thoughts On The Situation Below ....

Updated on 02/17/2020 To add below video!

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  ·  2 months ago Reveal Comment

I think you are right about the part tha t Steemit/STEEM as we know it might be over but the question is .......................

Is that going to be a good thing or bad thing?

A: Only time will tell.

Hi @rentmoney

Thanks for sharing your opinion. It's surely very hot and catchy topic at the moment. And I like to see what is general opinion so again - thanks.

If the witnesses and community here are willing to simply fork him out that sets a very bad precedent.

Very well said. Justin is a business man and our community can be considered an asset or hostile problem.

In short, Power Down but don't panic.

For many projects out there - this means cancelling delegations. Most curation projects will take a huge hit :(

For many "small people" current takeover may be nothing more than changing 'ruling party'. Those in power will change, but show "must go on". And it will. With current whales (of which many are very hostile towards users) or without.

Also would you perhaps know how much STEEM did STINC sell on the market on monthly basis to cover their expenses? I stronly believe that Justin will not be pressured to follow this strategy. That would greately reduce SELLING PRESSURE. Wouldn't you agree?

ps.
I remember years ago FB bought Instagram. Even more worries and fear took place at that time. And few years later both exist: FB and Insta. Perhaps there is lesson to be learned here.

I decided to be optimistic.

Solid read. Upvoted already :)
Cheers, Piotr

For many projects out there - this means cancelling delegations. Most curation projects will take a huge hit :(

Sadly that is true and I by no means want to advocate to hurt any ongoing projects but in the same breath I need to speak my mind on what I think is best. I 100% believe there is going to be a token swap and no-one knows for sure how that will take place. For example there might be a time limit on swapping tokens and if our Steem is locked up as SP, that won't be good as it might put those who decide to swap tokens up against a time frame.

Also would you perhaps know how much STEEM did STINC sell on the market on monthly basis to cover their expenses? I stronly believe that Justin will not be pressured to follow this strategy. That would greately reduce SELLING PRESSURE. Wouldn't you agree?

I'm not sure, it wasn't a small amount but I do agree, Justin Sun won't likely be doing the same regardless of what path he takes with his new found assests. But make no mistake about it, if Justin Sun decides to move STEEMIT over to Tron and create a new STEEMTRON token, those who decide to stay behind will be facing a very tough battle. Justin Sun has tons of cash and lots of resources, he's likely to win the battle of what token gets listed on exchanges and plus he will own a very large portion of the STEEM token as we know it today.

I remember years ago FB bought Instagram. Even more worries and fear took place at that time. And few years later both exist: FB and Insta. Perhaps there is lesson to be learned here.

This is best case and the one that I hope happens and might happen but likely under the TRON blockchain not the Tron & Steem Blockchain although I wouldn't completly count out the latter.

Thanks for the comment and sharing your thoughts.

!ENGAGE 50

Dear @rentmoney

Thank you for your prompt reply. appreciate it.

It definetly feels like most people are worried about token SWAP. It seem to be one of major concern - and I fully understand that.

I've just posted my own "little 2 cents" about TRON and Steem and I mentioned you as a "voice of reason". Check it out :) (link to my post)

Yours, Piotr

It's me again @rentmoney

I just realized that I never actually thanked you for your comment. Big thx.

I wonder what do you think about current situation?

I think what we are seeing is a direct result of the witnesses forking Justin Sun stake. I don't like how Justin Sun regain power but I fully expected him to fight back at some point.

Going head to head with Justin Sun isn't a good idea. The man has allot of money and lots of resources. The witnesses are kidding themselves if they think they will "win" this war.

Its mind blowing to me that the witnesses thought Justin Sun was just going sit back and do nothing while they fork out his power.



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Why is having liquid Steem an advantage? Will liquid Steem be necessary to do the token swap? Also, if there ends up being a fork, will we be able to double our money like when Bitcoin forked into BTC and BCH.

Because we can't move around our SP. Liquid Steem can be traded/sold ect. thus giving us more options. I nor does anyone else know for sure how the token swap will work.

Most hardcore steemians didn't even like steemit lol, I remember when ned said we would love to sunset steemit.com and people were raving now that Justin wants to move it onto his chain its a problem lol

I don't see why Tron and STEEM can't run in tandem, certain things happen on Tron and others happen on STEEM and the system goes on where dapp owners can decided which or how to use both chains

STEEM wasn't doing much in any case, i'm riding this one out to 0 so I don't mind

I don't see why Tron and STEEM can't run in tandem

I agree with this but if moved to TRON and a new STEEM token created, it'll be a teir two token with TRON being its parent. No different then how the Steem-Engine tokens are teir two Steem tokens.

I'm ready to fork out - we don't need TRON scam - I'm for the original STEEM
Арни-одобряет-Арнольд-Шварценеггер-Знаменитости-yes-yes-yes-1137141.gif

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You need to watch blockbrothers latest video with andrarchy. Will answer all the FUD 👍

I'm not worried, I'll still be creating content regardless. That video is more than what we ever got from the previous steemit owners for marketing so hey, a good start ;)

I'm not worried either but that video shows there will be a movement of STEEMIT to TRON and an attempt to move the STEEM token to TRON under a newly created TRON token.

Yes it does but I also suspect that the narrative on the Tron marketing campaign will change this week once the Steemit Inc team have spoken and aligned communications with Tron's marketing department.

If you have seen the Blockbrothers interview with Andrarchy, it will help clarify things and we'll know more in the coming weeks.

Exciting times ahead I think

Exciting times indeed ...

!ENGAGE 50



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I really hope justin doesn't destroy our beloved steem/steemit

and also I commented because I just staked some beer (I now have 20) and wanted to try if this works

!BEER

I don't think Justin Sun wants to destroy STEEM but I do think he want to continue to grow TRON via adding STEEMIT and a STEEMTRON token to his list of things to continue TRONS growth.

I hope not much changes for a casual blogger like me. I like how it is right now tbh.

I was on the fence with powering down since I still want to upvote users contents. I guess I will take your advice serious since you know the steem eco-system much more than me. It makes sense to be cautious. Thanks!

I haven't started a power down yet and I'm not sure the best route of action but the most caution option (as I see it) is to have mostly liquid STEEM as it gives us more options than SP does.


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