No STEEM coin swap in near future! Steemit on Samsung Devices?

in steem •  2 months ago  (edited)

Justin Sun just announced no immediate coin exchange/swap for current steem.

Steem will run on it's own for foreseeable future with Tron resources helping make it and Steemit.com thrive.

The AMA is live now:

https://mobile.twitter.com/justinsuntron/status/1228725665282674690

For those that missed it, the recording can be seen here:

My big takeaway so far is that he is going to leave things as is for steem and steemit.com.

The governance will remain in place and things will run as is, including SMTs being rolled out shortly.

It sounds like he will mostly just be using his vast resources to help steem get on more exchanges and help get Steemit on Samsung devices...

It sounds like it could be a big win for steem.

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Are you sure? Did you see the video he made himself?

Steem is definitely a "value play" in the blockchain world... we have actual users and actual functioning use cases.

My mind keeps connecting the fact that Justin Sun had dinner with Warren Buffett (albeit for a heft price) three weeks ago... and now this. I wonder what they talked about? I wonder if something discussed greenlighted this deal in Justin's mind...

Yep, Sun mentioned that the community was the entire reason he made this deal... steem/steemit was one of the few blockchain/crypto places that actually has users...

If he values the community, how then does he think of swapping tokens?

Posted via Steemleo

Exactly. He flat out said he values the steem community.

Hmm, good and beautiful words. As we anticipate Communities in a few weeks, let him create a Tron community and we'll begin to see how true he is.

Posted via Steemleo

Regarding Buffett, I wish that was the case.

From everything I have gleaned, this deal had been in the background for a long time. Just waiting for the right time to be consummated. It would be nice though if Buffett had some part in it though :)

It might just be wishful thinking. But chances are you don't sit with "The Oracle" and not come away with some learning. Maybe even something as simple as "buy the proven value."

Yes, I'm sure the deal had been in the works for a long time. As I recall, there were some "hints" leaked as much as 2-3 months back. As for the timing, I have a feeling it was quite brilliant: The Tron/Steem alliance totally overshadowed the announcement that Dan's "Voice" project formally went into public Beta yesterday...

Justin Sun 1 - Dan Larimer 0

Yep agreed. The crypto space didn't even notice the Voice launch. Did it even launch lol?

Well said.

steem desperately needs to get on more exchanges so i hope to see that happen

Yep, agreed. That has been a glaring issue if steem is to survive for some time now. People may not want to admit this, but getting Tron's backing may be what ends up saving steem. As long as Sun and Tron do what they said in the AMA and mostly stay in the background, provide resources, and let steem continue as is, I think this is going to be overwhelmingly positive.

i am surprised the price didn't move more on the big news? 👀

Well for one, not nearly as many people saw this vs. those that saw the initial announcements yesterday. Plus it seems people don't necessarily trust Sun all that much. It may be something that is factored in price wise over time.

once everything has migrated to tron does that mean then that users would be rewarded in tron tokens as well as steem, or instead of steem?🤔

I'm not sure everything will be migrated to Tron, time will tell. For the immediate future steem will continue to operate as is with Tron's financial backing.

I wish to see STEEM on Uniswap :)))))

i dont even know what that is?

Uniswap is a liquidity pool based decentralized exchange (DEX) on Ethereum blockchain

was just reading a bit more on it, looks interesting 👍

These were my thoughts as well. Sounds like it could be a win for Steemit.

I think it likely will be. We will see over the coming weeks/months.

In the real sense, no two tokens are of equal value. A swap would always better one party.

Posted via Steemleo

I think it's BS. Justin saying what should be said after an acquisition. The reality after most acquisitions is the acquired company goes away. Power down imminent for me.

Interesting theory. You know like 5 companies own every other company on the planet?

Yep, that generality is off by a few million miles.

This isn't exactly accurate...

You're right. It depends on the industry the acquired company is in. There's not much history of crypto companies being acquired....yet. Sun doesn't know what he's buying, or their names. My gut says the hastily prepared "talk" because it definitely wasn't an AMA, was to keep the masses from powering down right away. I'd be more comfortable watching to see how it goes, if the power down wasn't 13 weeks. Thirteen weeks is too long if the wheels start coming off.

True. I'd say watch what happens with the Steemit,Inc stake. Though Sun actually mentioned a passive investment in steem several days prior to that, what he said in the AMA was right along those lines again. Plus it's what he has done with other acquisitions. There is a lot of evidence to suggest he is just now the largest investor in steem and wants to make many multiples off of what he paid for it down the road.

very nice to here, and goodluck... for every one...

This certainly sounds like a win-win scenario. We get to keep our STEEM, while also getting to see Steemit and the whole ecosystem get some much needed cash and resources to keep it running, while also having a solid bedrock for future developments. Hope to see more features get added soon!

The whole notion of getting Steemit onto Samsung devices is rather interesting, since Samsung has made some integrations with cryptocurrency in the past. Certainly, some exposure for Steem unto the many millions in the world that use Samsung devices could be great!

Justin Sun just announced no immediate coin exchange/swap for current steem. Steem will run on it's own for foreseeable future with Tron resources helping make it and Steemit.com thrive.

Of course, since the AMA (this morning) he is saying on Twitter that the migration to the Tron network is now beginning.

https://twitter.com/justinsuntron/status/1228971875851632640