...and look at the bigger picture.
Forget the post I wrote below! JUSTIN SUN ESCALATED THINGS... AGAIN!
There are very few things certain or fixed at this point, but all parties want a way forward as far as I can tell.
But first of all, which are the parties?
- Tron + Justin Sun
- Exchanges Involved
- Steem Community + Former Consensus Witnesses
- proxy.token (also part of Steem Community)
This is not a two sides game, it's a four sides game. While exchanges sided with Justin Sun in the coup, they are the only side we know EXACTLY what they want to resolve ASAP. proxy.token also saw an opportunity to play referee and make some demands to have their support, but I believe they are negotiable and people behind proxy.token are part of Steem Community, they just want to push for some changes they wish, understandably.
proxy.token shouldn't be ignored, as I've been saying for a while, but at the same time we shouldn't consider exchanges automatically in bed with Tron.
I believe Justin Sun said it right, when he said exchanges are not his friends. They just do business together.
And this business just went terribly wrong.
Exchanges will negotiate directly with whom holds the power to release the powered up funds quicker. As long as that party wishes to negotiate.
There is also the time after the dust settles and they would have unlocked their customers STEEM and paid pending withdrawals. It's their move then, especially if this status quo continues for long. Try to think strategically.
Justin Sun talked about at least a partial exit in a few months, while the community would like something in return. But this situation is very fluid and subject to negotiations, so we won't know for sure what will happen.
If Justin Sun wants a partial exit, I don't see going with it through the market as a good solution. It would take him forever to unload without crashing the price. And since he said he is on Steem as a businessman and seeks profit, this is unlikely something he would want. The partial exit will most likely also be something negotiated off the market. In which case, we will have another super-whale. Or an existing one on steroids.
There is of course the possibility he will sell Steemit, Inc. entirely, for the right price. Although in $ amounts probably its stake is the most valuable, I always considered the most valuable asset of Steemit, Inc. its employees.
Update: Is 50-50% partnership in Steemit, Inc. an option, with a partner agreed by the Steem community, which of course can pay for a negotiated price for half of the current Steemit, Inc.? Not necessarily 50-50% on STEEM holdings. Partners can have the ownership of different Steemit accounts.
There is of course the possibility to continue the collaboration in this form, but this would be difficult, in my opinion... There's little or no trust and very hard to recover it. And how can he do what he's best at (hype Steem), when everyone in crypto knows the history between the parties? Maybe I'm wrong though.
Maybe in the next meeting with Tron, witnesses will prepare a list of questions and give it to them in advance. It shouldn't be conflictual, but rather seeking the resolution of the conflict. Something that can be negotiated on, or on which they can express their position.
Media coverage for this conflict is dropping, understandably. This is no longer breaking news. And media was generally Steem community's ally. The current status quo in not working in anyone's favor I believe.