My opinions on the Tron news

in Hive Governance7 months ago (edited)

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I really don't know how I feel about this news. I had a gut feeling it was coming for a while now, just not sure how it would be presented and play out.

There are so many scenarios and ways this can play out it. This could be the death of Steem, it can be the birth of a better Steem, or something in between. Only time can answer that question and mostly likely the AMA won't completely answer that, but it should give us more information to work with.

I am concerned for the future of Steem, our community, and our governance. I can't picture how Steem will look in a 3-6 months from now or even 30 days and that worries me. To be honest, this isn't a new feeling though.

I am anxiously waiting for the AMA today but I suspect there will still be many more questions in my mind when it is done. I have talked to a lot of people and have heard opinions both positive and negative about this news.

I believe this could end up being good for Steem or bad and there is no way to tell until we get further along this journey.

Some thoughts

Justin Sun has a lot of money, and Steem isn't a direct competitor to Tron in that Tron does not have social media functionality, so I feel less incline to believe he would buy Steem just to eliminate competition like Microsoft would do to assimilate companies for the sole purpose of removing them from the ecosystem.

Steem offers a lot of value and features that can benefit Tron, so I believe some merge or coexistence is more likely the case.

Steem entire ecosystem could fit into a smart contract on Tron with similar functionality as we have now. I am concerned it wouldn't be able to handle the transaction volume of Steem without drastically impacting the network. I suspect this isn't one of the options that will play out, but it is a possibility.

Justin Sun bought Steem with the idea of it benefiting him in some way. This could mean price but I think the current and future Dapps is the real treasure. It is unlikely he would invest so much to take over Steem and let it go to zero.

Justin Sun has a lot of money for marketing, and has a lot more developers than we do now. If he really wants to see his investment thrive, he has far more resources than we have ever had.

While a lot of these thoughts are hopeful, I do believe there is a good chance the way we see and use Steem today will no longer be possible. If Steem moves to Tron completely, there will likely be some sacrifice of functionality, first maybe governance, then maybe simple things like delegation.

I think the greatest thing at risk will be our governance (witnesses). It is likely the witnesses will be replaced or removed completely in the move to Tron. This will drastically reduce the influence Steemians have on the blockchain and I think it is one of the greatest things Steem has to offer.

A lot of people are nervous right now, I know I am. I don't have a single thing to say that would calm you down or make you feel better about this. I am just as concerned and disoriented as you are.

At this point, I am waiting for the AMA and see how that goes before I form any real opinions of this news. There are really too many directions this can go and we have no real solid information to hint where it may end up going. Your guess is likely as good as mine.

I wish I knew more, but I am just as blind sided as everyone else.

I don't want to go anywhere, I love Steem and want to see it survive. I will do anything in my power to see to that.


I will leave you with one fact to put things in perspective.

Yesterday, the market cap for Tron went up around $150M dollars. At the time, that was almost twice the total market cap of Steem. Steem ended up going up around 33% since then, going from $76M to around $100,482,290 now.
This does not account for SBD, which was around $7.5M and now over $8M

That's a lot of new money going into Steem in a single day!

I highly recommend joining the AMA live at 9AM PST / 12 PM EST.

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If the purchase of a single entity is enough to send the decentralization we've been fighting for / dream of, down the toilet, then I guess we were never decentralized enough...

I am very optimistic about the future of Steem and deep down I know that those in charge will do their part so that this blockchain can thrive.

PS. Nice to see you expressing yourself Mark.

we truly never were decentralized..

some voices tell us that since years--

that those in charge will do their part so that this blockchain can thrive

In a decentralized system this person is you. Delegate away your responsibility and you put the power in somebody else's hands.

I take full responsibility and I am all in with Steem. Regardless if it goes down to zero or if we have to fork the chain. How about the rest?

It's up to them.

Shit is definitely getting interesting, the only real value any social network has is its people/users. No matter how great a product is, if no one is willing to use it, it is worthless because value is a human construct. In my opinion I do not think Justin will do anything drastic to piss off all the users of STEEM since that is what he basically paid for, but anything is possible, I guess we will see...

It's pretty much a concerning situation as steemit Inc has enough Stake to vote 20 their own witnesses to straight away replace the current top 20 and do what they like to the chain, I wonder if that was included in the "commercial" agreement. However like you,a lot of people are trying to keep and open mind and hope to see a better and thriving steem.

Thanks for this...a level head is good for now. This may be a great thing for us but, it has many ways it could go bad too. Hopefully today’s live streem is positive.

Hi @themarkymark, let me throw a "macro thought" at you, immediately ahead of the AMA.

Justin Sun paid $4.5 million to have dinner with mega investor billionaire Warren Buffet. Warren Buffet's made his billions as a value investor who goes into undervalued companies with solid ideas.

Three weeks ago, the two had their dinner. Justin Sun may be many things, but he's not stupid. You don't spend time with "The Oracle of Omaha" and not come away learning something.

Now Justin Sun has — because we don't have a better word for it — acquired an interest in Steemit, Inc. and, by extension, influence over the future of the Steem ecosystem. Steem is highly regarded by many (including Weiss Ratings), but grossly undervalued. It's a great blockchain... with lots of functioning dapps with USERS and many new use cases in the pipeline.

While we were caught in our own storm of news yesterday, yesterday ALSO marked the day Dan Larimer's "Voice" project formally went into public Beta. Interesting timing? Coincidence? Probably not...

Consider the possibility that Justin's move was wanting Tron to compete with (and beat the snot out of) Voice... and the Steemit, Inc. deal was the most viable option to do so. He has the resources to fast track a lot of the developments that have been collecting dust on Steemit, Inc's shelves.

I cannot even begin to comprehend the functional aspects of the Tron/Steem alliance, but my thought is that this was not a move to abandon the Steem blockchain...

Soon enough, we shall know more...

I also thought about the timing with Voice, but I think this was a mess up. I do not believe this was planned to be discussed on this timeline.

Or he and Ned and Dan are in Cahoots with Voice to get rid of Steemit! See Justin can make even more money that way too! I'm sure Justin is an even larger inside investor in Voice too lol!!! These kind of whale sharks can make money driving businesses under as they can bringing them up. Maybe Buffet put him up to it!! The price of STEEM over the coming weeks and months will tell us. If it goes down a lot then this was all a scam!! STEEM dropping hard o nth3e AMA news, so the invisible hand of the market is already at play! I had to power down and will hope it gets bid up so I can sell if / when it does!! Hopefully they can keep this charade going for another year and a half so I can make a decent profit on STEEM at least?????? I do not want anything to do with any tron-steem unlimited / centralized, and not planning to convert over!! If it's the end of the witnesses, it's the end of STEEM!! Justin blowing his nose on the AMA, lol eew! And he can barely read SMT and say steemit correctly, i don't buy a word of it!! If I were you i'd power down too Justin case, lol! Back to Bitcoin!!

The stake @steemit held has always been a centralization threat to Steem. As it now has passed from @ned to @justinsuntron, @ned's former restraint regarding deploying that stake to seize control of Steem governance is now removed, and @justinsuntron clearly has reasons to deploy that stake to do so.

The AMA has just ended, and the Witness Forum begins presently, and we'll know more after that.

I do hope your determination to vouchsafe our current blockchain, token, and community extends fully to decentralization, censorship resistance, and anonymity as we have enjoyed them on Steem to date.

Thanks!

Since Justin acquired that stake. It's too late to try to nullify it. He actually bought it with his own money.

Steemians missed the opportunity to rid of that stake.

Maybe. @bryan-imhoff suggested that rendering witness votes subject to 1 Steem 1 vote would solve the problem of Tron presently being able to replace all the witnesses at will. Tron would still be able to throw several witnesses into the top 20, but not 17 of them if this HF is effected.

I believe we should immediately make that change.

Thanks!

Thanks for this wonderful update, I think everyone is in the state of doubts but we all hope for better steem🙏❣️🙏 ❣️

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Wow, I have never seen a post like that from yourself! You sound totally despondent mate.
Thanks for the link to the AMA...is that the same Dlive that built itself here then buggered off?.
Take it easy and don't let things fuck up your weekend and off-chain life.

Yes the same dlive.

Many steemians are going through the same and waiting for AMA to get answers of various questions.

It is unlikely he would invest so much to take over Steem and let it go to zero.

I also thinks the same and he must have some solid plan in place to take steem ahead however we need to wait for that. I am also waiting for AMA session. Thanks for sharing this post.

We isnt used to dealing with people, only investors. Tron barely has any users so it will be interesting to see what he says today.

I have this feeling that we want to lie to our self that tron will have some mercy on steem, and give its independence .... looks like the intention is clear, they want everything on tron, steem a tron token,....

Steemit.com the first dapp to move there, and then convincing other dapps as well .... take the steem token branding....listings on the exchanges as well .....abandon the steem chain and give the swap option ...

Just I think Justin and even Ned are not totally aware of everything that has happen here in the last year, especially with Steem Engine ... to them is just steemit.com ....

Looking at this, I will go on and give the right to speculate that there will be a fork ... the question is how much of the community will support each of the options ... how much of a convincing (buying) they will be willing to do ... and there are a lot of individual groups and subgroups now on the Steem blockchain .... it will be a hustle

Thanks for your opinion and I wish the best as you do.
I will be sleeping during the AMA. However, I will sleep sound knowing that they are having it ASAP and even on a Saturday. I hope this communication is regular.

to be real, if he wants to attack steem this way to move it to tron, is like a copy.

So why he should spend money to buy Stinc to copy it into tron? As you told he has money for marketing.

Like make a copy of Steem on tron and give Users some free tron. It would be cheaper overall.

Plan B for Steem can be a fork from the current Stage with Testnet SMT and Communities without Stinc Stack.

It would not be that bad i think. Maybe with onboard Token on SPS to give Dapps the chance to onboard Users for "free".

Overall we are the Users. We have the power.

Steem entire ecosystem could fit into a smart contract on Tron with similar functionality as we have now. I am concerned it wouldn't be able to handle the transaction volume of Steem without drastically impacting.

Im not a techie but if performance would be impacted then indeed it cannot be cloned to TRON. It stops being steem at that point.
My fear is in his claims, which im hoping he goes back on today that he will token swap Steem. Even an airdrop would be a negative since now you have two competing chains using the same dapps. (Unless he does a peg)
Im very fearful of this change..
Dubrovnik is nice this time of year

Change is always hard, and it is rarely pure goodness, even when it is overall a great improvement. An analogy that comes to mind is moving to a better home. Maybe you get nicer floors or bigger bedrooms, but you realize that the new home doesn’t have quite as much storage or you get a new neighbor who has loud parties. But meanwhile you have many new amenities.

That’s how I look at it. We will likely see a big lift because of the investment and the upgrades that will come with that, but it won’t be the same. We should be braced for change — some good and some we will not like.

Lets just hope that this plays out well for us all.

Also, I hope that our witnesses still have a space in governance.

I can't help but feel it's something to be worried about, and I feel like it's more worrying than previous events have been.

The worst case, for me at least, is Steem essentially being killed off and a token swap for some shitty Tron coin is implemented instead, as a replacement.

I'd like to think they'll listen to the community and leave Steem alone, and let it remain its own independent chain, away from Tron.

I understand your worry man, let’s see if we can forge an understanding with the guy. He knows we are a valuable asset, perhaps even greater than the tech.

I have been wondering the same things since the announcement. Time will tell I guess.

Steem isn't a place bit might be more than a place😕

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In my opinion we cannot go waster than what we get right now with ned and elipowell management, so welcome to Tron and let make Steemit popular as Reddit and so on....:)))

I think the best thing we can do now is try to forge a relationship with Justin where we try to convince him what we know the platform needs to thrive because we know much better than he does and we would make tremendous allies for him to have with all of our collective experience in this experiment. I tried to put together an article pointing at what I believe we want as a community, I’d love your input and if you like anything I say in it maybe you could give it a bump so he might actually see it.

"I don't want to go anywhere, I love Steem and want to see it survive. I will do anything in my power to see to that."

this.
and i would love to see steem & SMTs :)

Perhaps Justin Sun will bring about some stability to the way things work around here. One thing that hasn't really worked for most of the life-time of Steem has been the Steem Dollar.

Witnesses: Let's make Steem Dollars worth one dollar. You do not need to fund me
a single Steem Dollar for that. All you need to do is set your price feed to accurately
reflect the USD price of the STEEM token. The market will do the rest.

For you @themarkymark and @yabapmatt, your price feeds are high. Looking at BitTrex the exchange rate is 0.228 USD/STEEM as of 14:57 UTC but your price feed is 0.238 / STEEM. It's a full cent higher than the real price. If you would simply update your price feeds more often I think that should take care of the difference.

What happens when prices are too high? The Steem Dollar has weak backing. How much does a cent difference make? If all Witnesses had that and I convert $1 of Steem Dollars into Steem, I wont get $1 worth of Steem instead I'll get 0.96 USD worth of Steem. This is often where the price goes. I have a high opinion of @aggroed but setting that aside, @aggroed has its price feed 0.268 USD. Which means the Steem Dollar when converted with that price only backed with 0.85 cents worth of Steem.

These witnesses @steempeak, @aggroed, and @drakos have price feeds that are way too high.

How the price feed is supposed to work:
The published price feed should reflect that of real price of Steem in USD. See the white paper. This is so
the Steem dollar can be well backed by a USD worth of Steem. When these
prices are too high the backing just doesn't work. For most of the history of
Steem it hasn't worked.

Please fix your price feeds.

Most of the Witnesses are keeping the correct prices. Please vote up these others
at the expense of the other four if necessary https://steempeak.com/me/witnesses

君子循理,故常舒泰;小人役于物,故多忧戚。

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That you would compare us to a Japanese Anime character, Shutai the Lizard, is very insulting.

We are not depressed, and we are not defeated!   Have a nice day!

我们没有被打败! 祝你今天愉快。

I have TRX and STEEM. How will this merger affect my digital assets?

It is unclear right now.

Really like your thoughts from someone like yourself. My perspective is quite simple. I'm not a tech guy, I don't know much about blockchain technology. I've just been traveling the world enjoying life for the past 16 years. I've been able to do it mostly based on savvy investing skills in traditional things like stocks, commodities, etfs, and real estate.

To me this is a no brainier. Steem is down 98% from it's high. Justin Sun is a smart investor and bought the company at a huge discount compared to a year ago. He will build it up and maybe resell it at higher price. He bought it, because he thinks he can make the price of the crypto currency go up, along with the winds of a fresh alt coin bullmarket at his back. Very smart. You, I, and everyone holding steem/sbd or blogging here will benefit greatly.

Now think if it was the other way around. Lets say Steem was making new highs, it's 10 dollars per steem....then Justin Sun buys it at it's all time high.....That would be sketchy as hell. Everything is going great, then a change in management. Not good. It would spook investors.

But we have the opposite scenario. Steem was down and out, mis-managed no resources to build on, making new lows; furthermore Ned already made his millions and has no motivation to do anything but live the high life off his mega fortune. There is nowhere to go but up for steem, hence the price has already almost doubled since rumors of the acquisition came out.

On another note! You are the man Marky Mark! You've kept me steeming with my travel blog by supporting me with your huge up-votes. With out you I would literally be making almost no money off my blogging efforts here at the previous 13 cent steem. I would have likely walked away, feeling bitter and defeated like so many have this past year. So thank you so much for keeping me in the game!

Steem on Brother!

From Nha Trang Vietnam!

-Dan "World Travel Pro!"

非常好

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No Need for Steem's Worst ManSlaughterer @themarkymark's Opinion.