HIVE launches in less than 1 hour
After a few months of useless negotiations between the community and Justin Sun, the fork is here.
(Source: Coingecko)
A fork is always an interesting situation for a blockchain, because instead of a "swap", as promissed by Justin Sun at the first day of Steemit Acquisition, both chains will coexists, and probably one of them will have more value than the other.
By the way, if you are happy with STEEM rise in price, sorry to break the news, but expect som dramatic price drop on the next few days, as it always happens when a fork happens.
Wich one will thrive?
That is a hard question to answer. There is a lot of possibilities that might happen, and a lot will depend on wich direction each chain will take.
On one side, Justin Sun (and those who support him and his actions) will have full support to do whatever he wants.
Only time will tell if he will actually do good things for Steem blockchain
On the other side, The Hive is aiming to be fully community controled, excluding from the start, the Steemit Inc. stake (wich will be directed to a development fund, just like the SPS we have here today).
The good news is, we can choose to participate on both of the chains, and decide later.
What can we do?
We, normal users, can't do much but watch how things unfold.
For me, i will just wait and see.
Join the community in our migration to Hive, a community built blockchain for the community. All Steem account holders will receive equivalent stake on the new Hive blockchain.
Please follow @innerhive on twitter for more information.
Hi @phgnomo
2020 is bloody intense so far. I wish both HIVE and STEEM would do well in the future. With 2 different directions. Both being succesful.
ps.
Project.hope will be supporting content created by all authors collaborating with us so far. Regardless if they will be posting on hive or steemit. Or both.
Personally I believe, that majority of users will post same content on both chain. Most likely original publications will be posted on HIVE and then Steem blockchain. And we will support all of those posts the best way we can.
Hope it does clarify project.hope stand on this issue?
Yours, Piotr
Dear @phgnomo
Few months? negotations with Ned do not count. And negotations with steem community lasted only few weeks and from the very day one it has been very obvious that many old witnesses will do anything to escalate conflict.
I've read yesterday one of statements coming from blocktrades, that they were working on new HIVE chain for few weeks. It's hard not to have impression, that entire conflict with Justin has been a smart plot. That we all were manipulated and even weeks ago group of witnesses already knew that eventually they will migrate entire community to their own chain.
It sounds sad, but I think we were all being played out here. Obviously it's way to late to change things so best we can do is ADAPT.
Not really. Blocktrades + few witnesses will fully control The HIVE. So it will be super centralized blockchain. I don't expect community / regular users to have anything to say here. And those who will criticize it's governence will be surely silenced, downvoted, muted and destroyed.
Did you expect such a huge price jump? Recent spike in price of steem has been incredible. Surely more than I expected. I wonder if we will experience huge crash right after airdrop.
Friend of mine suggested, that it could be Justin purchasing a lot on some of his proxy accounts. Knowing that he will get large amount of new HIVE token. Knowing also that witnesses will be powering down and trading steem to HIVE. So he could sell his HIVE tokens, earning quite a decent amount of money. Knowing that demand for HIVE token will be very high in upcoming days.
I wonder if we will witness and large stakeholders will dump their STEEM right after airdrop on new HIVE chain will take place.
The truth is, that if old witnesses will power down right away and dump their steem - then they may damage part of Justin investment and make him lose out little bit. But it's most likely just a small % of his porfolio.
At the same time all of us, those who invested their live savings into steem will suffer the most. Our investment will be crushed, without much of a chance to do anything about it :(
In my opinion blocktrades and other large accounts, who will build their fortune on migrating community to new HIVE chain - they should wait a bit with dumping their steem tokens. To allow others to do it as well. Just my 2cents.
Yours, Piotr
Well, i have no doubt that they were already working on the fork for a while, probably since day one.
I meant community driven in theory at least. But seeing how things played out, with some people like @steemchiller (from steemworld.org) being excluded from the HIVE airdrop because they disagreed with old witness by voting on some of Justin Sun witness, well... it is looking as the same old same old... We have to wait and see how everything will evolve.
This is what usually happens when a fork is coming to any chain (those supported by exchanges, at least). A huge increase on demand, then a big drop on price.
Long term though, it will all depend on how each chain will be conducted on the future.
That will probably happen.
We are on hive!! What does it mean for Project.HOPE?
I believe both will thrive if the team behind both projects work a bit harder and aggressively. For me, I am sticking to both chains cause I am hopeful both will turn out successful.