Tron buys Steemit - let's find out what that means tomorrow :-)

in steem •  5 months ago 


Yes, that's a Sun on the horizon

Everyone is, obviously, talking about the Medium Post shared a few hours ago by TronFoundation. But if you hadn't heard about it yet:

Basically - a guy that doesn't even know we're all called Steemians sold his company to another guy that also does something with crypto. This might all 'just' mean the biggest stakeholder of STEEM, the coin, isn't Ned anymore, but is now called Justin.

There's also talk of a Steem Token on Tron:

Together, TRON Foundation and Steemit Inc. will look to create further value for their users and to augment their advancements in decentralized technologies, including moving old STEEM token to a new TRON based STEEM token, giveaways to the existing TRX users with the new TRON based STEEM token, as well as a new accelerator program towards the developer community.

And a Tweet from Poloniex that they'll support the 'Token Swap': We’re excited to announce that we'll be supporting the upcoming $STEEM token swap for our users!

That sounds scary, but what does it mean?

For now we don't know, it can mean a lot, or nothing much at all

I'm mostly confused and amused and a bit fascinated. Although my gut feeling is 'I don't want STEEM to move to Tron', I wouldn't mind having Steemit get some of the Tron marketing/funding while leaving Steem, the blockchain, to its witnesses. I would mind if what I build on Steem would suddenly be swapped to some Tron-based token without me having the choice to 'stay on Steem'.

But all is rather vague right now. All we can do is wait for clarification.

I don't have opinions yet, just questions.

My advise would be: Stay calm, try to get informed, and the best way to do so is by tuning in tomorrow at the live AMA (yes, on our beloved DLive as far as I know! :')) at 9 AM Pacific Time - which is 18:00 for us Europeans (-1 for UK). Immediately afterwards we'll all tune in to the Witness Chat on PALnet -, where we'll all discuss what we've heard on the AMA with Sun and Scott.

Stay hydrated, and don't believe anything until you've heard the people who actually know what's going on talk for yourselves :D

If we're lucky (?) @ned will bring his guitar and we can educate him on the term Steemians before he retires and enjoys his new-found Destiny. (Pun only for the Steem Informed.)

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interesting, I wonder what this means for steemit :)

What I'm hoping is the whole company was bought, including the developers, and they will be able to continue working as they have been before, only with a bigger budget, especially for marketing. But I know nothing yet :-)

I think so too, JS did not buy a product only to destroy it:)

No, but he might be able to force us to go with the TronSteem coin if that's what his plan is. After all, if all development will happen on Tron... Where will we be left with? Anyhow, we know nothing until the AMA :D

I dont know... none can force us to do anything, its all about the community and if he wants his project to succeed he needs us. Time passes really slow until this interview,lol. I am literaly killing my time until then,lol

Doesn't do any good to fret over it. What happens will happen and there is nothing anyone can really do about it. I am actually looking forward to seeing what happens.

  • Justin and TronFoundation realise "oh crap! this Steem blockchain thing is too complicated to just migrate over to some other chain. There seems to be more to it than just a token. These so-called Steemians are also a royal pain in the butt, unlike my Tronians(?), and are too independent minded" and decide to just leave things be. They change the Steemit logo to something fancy, call it Tronit, and just work like just another dapp on the Steem blockchain.

There, fixed the article :)

including moving old STEEM token to a new TRON based STEEM token

Did they use Google Translate?

We'll never know for sure, but I wouldn't be surprised. So every sentence in that post could still mean many things. It's vague. Steemit and Steem are two different things and where Ned is talking about Steemit, Justin is acting like he bought the whole Steem blockchain :D

Ned is talking about Steemit, Justin is acting like he bought the whole Steem blockchain :D

It takes people a while to figure that out, eh? ;) Hopefully Sun bought it to profit. Hopefully that profit will be shared with the rest of the STEEM stakeholders. I'm just gonna stay optimistic over here and watch what happens.

I hope Sun bought it to profit which means he'll want some of the developments to be successful - invest in finishing some of the technology like SMTs/Communities to get finished :D

And yes, as always:

It takes people a while to figure that out, eh? ;)

So much educating to do still ;-)

we can only hope that they did

Posted using Partiko Android


Not gonna lie. Very nervous.

Posted using Partiko iOS

I honestly don't think you have to. I've already seen a few witnesses say they don't want to be 'forced on Tron', so although there might be a Steem token of sorts on Tron, I'm not yet sure that means we'll stop existing. I know nothing though, just wanted to calm your nerves a bit. We'll know more in 18-20 hours.

Interesting times, that’s the least we can say! And that is always good, anyway it goes!

I mentioned in my last post I almost 'missed' the energy we felt during our last crisis, maybe I shouldn't have said it out loud :')

My FUD for the occasion: @ned is all in a twitter, because of a FOMO moment he had when he learned through Polly Cracker that Jerry Garcia's last guitar he ever played is going on the auction block on Monday. @ned needed some more money, the Guitar is expected to go for the price of 3, not one or two, but of three Lambo's. So @ned is going all out to raise enough money so he does not come up just a tad short of the selling price of Jerry's Last Played Guitar.

This is the only explanation that makes sense to me so far :D

I have to say it-I'm not sorry to see Ned's ass hit by the door on his way out. My opinion is that he's a petulant dickhead and he has been a net drag on the entire system.

Will it be better? Who knows? But I certainly have no fear going forward...

Hehe @bigtom13, I can always trust you speak your mind :D Yes, having him gone is not a bad thing, but having all the developers 'work for Tron' is what worries me - if that's what the plan is.

3,5 more hours until the live AMA on if you're interested in joining and hearing out what might happen :-)

Maybe. But remember that Steem is registered trademark, so "Steem Classic" can be "Meths" :P

In my opinion, the problem is that STINC has a huge impact on the network. Firstly - in 90% of cases people use "Steemit", secondly - it employs developers, thirdly - it has so many tokens that it can destroy Steem.

For those who will be taking "Steem.DAO" - Good luck. You'll need it.

But remember that Steem is registered trademark

IIRC, Steemit is a registered trademark but Steem is fair game. I vaguely remember a post from either @ned or @steemitblog to that effect at the time when they switched from blue to green and introduced the Steemit logo.

It's how I remember it as well :-)

  ·  5 months ago (edited)
Type Steem in search, in one of them, will be info about registering it. But maybe I'm wrong, because I'm not from USA so this might works different that I expected

Damn, maybe it was just the three-swooshes logo that was fair game.

I think Steemit is a 'protected' name, is Steem as well? STEEM isn't if I'm right?

See? This is why I always want to SCREAM if people use Steem, Steemit, STEEM as if they can replace one another :')

We'll see, I'm going to listen to the AMA first. Not a fan of Justin Sun, but we gotta get our information somewhere :-)

From my understanding reading a bunch of posts, you will have the option to keep using the old version of steem if it is still inhabited by witnesses who keep it running. Whether the token is worth anything is a different story.

Yes, technically Steem will run as long as our witnesses keep it running. That means this place will always be able to be 'our' community. If all technical development starts to move to Tron it will probably mean we lose all our listings on exchanges though and be left with a worthless coin. We'll learn a bit more in a few hours, although we'll still have a lot of questions after that I'd guess too ;-)

Could this be the reason SBD suddenly came back to life again, and steem started gaining traction in the marketplace?

Yes, some people have picked up on the rumours of Steemit being bought by Justin Sun, and in crypto there's a saying 'by the rumour, sell the news' - so I guess the 'buying the rumour' will have helped the STEEM price to move in the last few weeks/months.