For those confused by Steem/Tron News, there is an AMA tomorrow morning with Ned Scott

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If you are confused like the rest of us as to what exactly this news means for steem and steemit, there is an AMA tomorrow morning with Ned Scott at 9:00AM, Feb 15 (PST).

Here's the link to the AMA:

https://twitter.com/justinsuntron/status/1228350993420578817

We haven't heard much from Ned over the past year, it will be interesting to see what he has to say.

Overall, I am cautiously optimistic that this will be good news for steem and steemit.

As it stood, steem/steemit was bleeding users and had very little money to right the ship.

It appears there will be some sort of coin swap for steem, but again not sure how that will work out exactly...

Plus it also looks like Poloniex will be re-listing steem once again:

https://twitter.com/Poloniex/status/1228352737081020416

Though it looks like the purpose is mostly for the coin swap...

Interesting times ahead...

Stay informed my friends.

Image Source:

https://twitter.com/realNedScott/status/1228364811622322178

-Doc



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31 comments
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Notice the crickets coming out of Steemit Inc.

One thing they were not very good about is communication....right up until the bitter end I guess.

As for optimism or pessimism, this is so confusing hard to tell where this is going. A terrible way to announce this.

On the bright side, Sun and Tron have the marketing aspect, something Steemit Inc did not. Also, as you mentioned, the resources are there which is not the case with Steemit Inc.

If Sun was smart, he would let Steem keep growing as it was while having a hand in Steemit Inc. He then gets the best of both worlds.

It does not sound like that is what he is going to do.

Posted via Steemleo

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(Edited)

It will be interesting to see how a migration of existing coins works... Will they have more or less value? A good thing steem had going right now is that it was so cheap, less than $100 million in total market cap. It's possible the swap gives more value due to it not having a ton of value currently...

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I thought it was pretty obvious that they're going to make a token on Tron that represents Steem. You can't migrate Steem to Tron completely without changing everything and getting rid of all the witnesses and the blockchain itself (which of course would create a fork as we aren't going anywhere). This announcement once again has the stink (STINC?) of Justin Sun's egregious over-hyping.

Several articles about it talk about an airdrop to Tron holders. I wonder if they bought a chunk of Steemit Inc's stake to perform such a capital injection. That would actually be really good news... as an airdrop of Steemit Stake onto Tron holders would increase our decentralization by magnitudes.

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Yep, and hopefully they would hold it as opposed to Inc slowly selling us to death...

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(Edited)

And in the announcement they mention partnership several times. And Sun mentioned earlier this week a financial backing in steem... those kinds of comments don't sound like what one would say if you were completely getting rid of the steem infrastructure...

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He certainly added to the confusion by contradicting himself with his statements.

What we know is Ned sold Steemit Inc along with Steemit.com. What else is in there is up to anyone's guess.

A few witnesses already said they have numerous copies of the blockchain filed and will keep it running.

It looks like there might be a fork coming up.

Posted via Steemleo

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This is the way of the crypto.
Don’t like it
Fork it.

Posted via Steemleo

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Regarding Steemit,Inc they may not be allowed to comment yet. Judging by the wording, it sounds very much like Ned Scott owned Steemit,Inc and Steemit.com. Remember that Ned had (hopefully still has) millions of steem so perhaps he saw this as the best way to get more value for his coins...

If not and this was just a final cash grab to get value from steemit.com before it was too late... then well.. that wouldn't be so great. But we really need more details before we can speculate too much...

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That is true. They might not be allowed or might be trying how to frame it.

I think it safe to say that Ned owned Steemit Inc and .com. They are now in Sun's hands. The token swap is an interesting aspect to this.

Then there is this:

cointelegraph.com/news/steemit-to-shift-its-proprietary-blockchain-and-token-to-tron-network

What is proprietary blockchain?

Posted via Steemleo

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Interesting and adds even more confusion. Notice how they mentioned steem having bugs in the article... steem didn't have any bugs recently?! If they are talking about hiccups with the HF that is something else entirely...

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Thinking the same thing.
How does @steemitblog not have a post up about this today.
So bad.

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If steemit only purchased by justin sun then steemit will migrate to tron blockchain in coming months what will happened with steem blockchain and steem cryptocurrency

I think currently Steemit is number on dapps on steem if its left steem blockchain it's not good for steem blockchain but if steem also purchased by #Justinsuntron then it's a very big and good news its good for every cryptocurrency investor

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It's currently unclear exactly how it will work out. It says steemit.com is sold and it says coins will be converted to new coin on tron... the rest is up in the air.

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https://esteem.app/tron/@lukestokes/steem-is-still-not-steemit-even-if-tron-buys-steemit

I think Above post is helpful to understand and clarify some points

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(Edited)

We all know steem is not steemit, but speculating on what can and cannot be done at this point without having knowledge of the inner workings/details of the deal is pointless...

We have to wait until more details come out.

The facts as we know them right now are...

  • Steemit.com is sold to Tron
  • Steem coin will be exchanged for new Steem coin on Tron
  • Somehow existing steem apps will be migrated over?

That is what the announcements have said, the devil will be in the details.

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Let's see what happened in coming days and weeks

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Well ned is in the spotlight again .... never liked that guy

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Hopefully he just helped all of steem and not just Ned Scott.

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It is something I believe will be awesome for Steem blockchain!

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Why do you think that?

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We need to embrace new changes and my gut feeling say is good to move forward.

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(Edited)

I actually agree with you here. I think steem/steemit was likely on its way to a slow death without a miracle. This may be what ultimately saves it. Though we need to see the terms of this deal to fully make an opinion on it.

Though this may not be good for the steem blockchain itself, it may be good for steemit, content creators, and current steem investors, but we will have to wait and see...

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Exactly, we are going to have a clear picture in a few weeks from now.

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(Edited)

Wait, as I understand, Steemit Inc/Com doesn't own Steem blockchain, right?
Even if they own big chunk of total amount of Steem it doesn't mean they own it.
All they can do is fork away and convince all Steem users to migrate to new branch of Steem. If we don't like new Steem, we can stay at old branch using busy, steampeak, dtube or whatever what is run by Non Steemit Witnesses.
It means there can be Steem classic and Steemit/Tron version of Steem. independent one from another.
Just like BTC/BCH/BSV or ETH/ETC
Not a big deal. Also it doubles your portfolio in a way :)
Am I wrong?

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Thanks for sharing! I'll be looking forward to this AMA. There's a lot of unanswered questions out there. Though just like you, and surely many others, I'm cautiously optimistic that this could be the boost that Steem needed for some time.

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