Article States That Justin Sun and Tron will Acquire Steemit

in #steemlast year

https://globalcoinresearch.com/2019/12/09/breaking-justin-sun-and-tron-to-acquire-steemit/

For the record, I am totally spreading an unconfirmed news report. However, it certainly is fun to speculate about it. I have no inside information and have not seen this story confirmed or denied at this time. Of course I consider the story and whether it is true or false. All news is good news!

For fun I decided to buy the rumor and picked up some Steem for the rumor pump.

According to Chinese media Mars Finance, Justin Sun is looking to acquired Steemit, a part blogging platform, part social network, that rewards contributors with Steem tokens. Steemit was created by Ned Scott and EOS founder Dan Larimer. The team launched the social media platform Steemit as the first application built upon Steem blockchain.

Personally, I would not mind if someone like Justin Sun who has visibility and assets purchased a controlling share of stake or perhaps the article means he might purchase SteemIt, Inc.

I also want to say the article is very scant on any details or facts, so it could totally be fake news. Also based on our branding it is hard to tell if it means Justin would try to acquire a controlling stake or the company of SteemIt.

In any case even if it is a rumor, it's a fun one. It would be an important merger/partnership between two projects which is exactly what I am expecting to see in the near future. Projects starting to combine resources, communities and other points of synergy.

In my opinion our biggest problem is lack of visibility and marketing and everyone knows Justin knows how to do both.

Sure will be interesting to see how the story pans out, I for one would be fine with the news, if it turned out to be true.

How would you feel?

@whatsup

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How would you feel?

All depends on whether or not our stakes will be invalidated.

Why on Earth would your stake be invalidated?

Wouldn't it be rather obvious for them to fork away with a new token once they have acquired Steemit Inc?

Invalidated is probably the wrong word.

I'm imagine the scenario where Justin would acquire STINC stake and use it however he pleases. Which is fair because it'd be his stake then. But, may not be as great when he could control consensus through witnesses. I suppose that could go either way.

Of course, there's also the whole "scare" of Chinese government coming in from the shadows and stuff.

From a more practical point of view, I guess I don't really care if it means my stake is worth more than it is currently.

There is one thing I'm a bit puzzled...why delist STEEM from Poloniex if he were to acquire STINC or Steemit.com?

Steem is a community and can fork away from a hostile takeover. That's why I don't think this rumor is true.

It doesn't matter if the community can fork away.

Rebuilding the connections with exchanges, etc. is not instantaneous.

Steem can't fork away.
We had this topic many times in steem's history, but we hadn't a single community fork.
Only competent and intelligent users leaving in masses..

Steem can fork away though, we didn't in the past because there was no reason for it.

Zumindest kein Grund der groß genug war um so etwas wie einen spaltenden Fork in Gang zu setzen.

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Nö überhaupt nich.
Dass eine dezentrale Plattform nicht wirklich dezentral ist, ist nicht wichtig genug.

Inwiefern willst du denn durch einen Fork die Plattform dezentraler machen? Und wäre etwas mehr Dezentralität es wert zu riskieren, dass die Chain sich spaltet? Imo nicht.

Absolutely. There are many ways tron could benefit that would not make for a healthy platform and he has the resources and following to go through with it.

But I’m just here for the ride, hoping for the best. That was a short pump...

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We just wait and see.

Now I get it, yeah there would be some unknowns for sure.

tronsocheap2.jpg

 last year 

That soundtrack tho

Lol

I swear - Haejin is Justin Sun :)

Warum grosse Reden schwingen, wenn man es mit 26 Zeichen bis in den Wolfecast schafft?
Ganz großes Tennis!
!BEER

Hups?!
Danke für den Hinweis!

Well it’s understandable to me, why else would aggroed (name dropping to add more fuel to the fake news fire) use tron services for fundraising and accept tron via splinterlands if the witnesses and stinc weren’t wanting to sell to Justin.

Also makes since Tron is the one who will be partnering with SMTs to create a tron backed Steem token!

It would be a good way to compete with EOS to acquire Steemit before voice is launched on the EOS platform. Beats trying to compete with their warchest when you can just buy a proven product for cheap and use your marketing skills to improve its position.

I can do you one better since Ark has a presence on the platform. Tron is working with Ark and Steemit to “combine blockchains” so that when either platform becomes congested in the next bull run they ark will be able to figure out the cheapest blockchain to run the transaction on at that time and make it happen seemlessly allowing resources for either blockchain to be used by either blockchain and therefore integrating a tron reward pool on Steemit as part of the deal. Verified by no source whatsoever.

That actually sounds very good! That's precisely what should be happening a lot more often in the space. Blockchain projects should not be islands. I've been saying for years that interoperability is key if the sector wants to tackle real world problems and challenge legacy systems effectively.

I think some excellent partnerships NEED to take place in crypto. While the rumor seems to be petering out a bit, to me I love to take part in an important early merger.

Can you elaborate on how Ark is joining up with steemit? I am behind on the current crypto news. Thanks.

It was a joke. I was creating fake news.

Eos platform is called voice? When is it due to drop?

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Yeah EOS new social platform is called voice. I haven't heard any updates from the initial announcement besides they are still working on it. No release date as far as I know.

Release date for Voice Beta is February 14.

O nice thanks!

Valentine's Day ❣️

I'm with you @whatsup.
With this "News", I see STEEM pumping to at least $1

I mean SBD at $1

Funnily enough I was just thinking about how a partnership with Tron would be good just the other day.
I mean look at the success of @splinterlands.
Tron is know for its games and a partnership with a blogging platform where players can post game reviews and walkthroughs. I mean really it just makes sense . And with the launch of SMT’s and communities on Steem as well as NFT’s on @SteemEngine , there really is no better time then now.

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Steemit is not Steem.

Between @steem, @steemit, and @misterdelegation, Stinc has about 60 million SP. Add to that a few other accounts and X STEEM on exchanges. Some big accounts like @freedom are question marks.

Overall though, Stinc has ballparkish something like a quarter or maybe a third of outstanding Steem.

Yep! Also though we know they are operating very close to the margin. So, it could be a great thing.

I have no issues with it. We need some big news to get some eyeballs and that would sure do it.

Hold on! I was sure that Samsung will buy Steemit... How can Justin Sun buy something that is already sold?

@whatsup,
I think they mean $trdo instead of #tron lol :D

Cheers~

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Wow that would change a lot for us.

According to Chinese media Mars Finance, Justin Sun is looking to acquired Steemit,

Spelling error. Unfortunate sign of fake news.

Yes, it was still an interesting idea to discuss. :)

How would you feel?

Seriously, this looks like fake news like earlier this year.

But who knows, the price of STEEM has been low for a long time and Steemit, Inc is a private company. Who knows what the state of its finances is. But I consider that less likely that this being all fake news.

It may really be happening. Justin Sun and Ned Scott have been tweeting back and forth about partnership before.

Last Friday, LoMoStar (a Chinese app) has been announced to have been bought by a Russian gaming company and now we'll have our LoMoCoin swapped for Lemon Game tokens, so I wouldn't be surprised by another M&A.

I wouldn't mind it, despite the fact I favor current steemit team I somehow think they haven't build sustainable business and should seek for a partnership

I think it will be awesome! I hope it is true! That is why Steem Monsters changed their name to Splinterlands awhile ago for the TRON integration. I am excited!

The earliest mention of it I've seen has been a Russian site but am sure there may be earlier mentions. Even if it's false it'll be fun to watch it spread through crypto media.

Pretty sure that wont happen although i wouldnt be surprised if he tried. Whats Steemit.inc stake worth nowadays? 10-15 million USD?
Buying the company and liquidating it would not only kill a legit competitor if he got the company cheap but it would allow him to shill TRON more via Steemit thats by far the biggest and most successful crypto dapp.

why do you hate Justin Sun so much?

I love steemit but you have to admit Justin is 100x better at marketing than anyone involved with steem... would be nice to be up over 1 billion market cap again

Because hes a shitcoin shill with 0 credibility. He fakes trading volume, transaction and user numbers, copies white papers, lies... TRON is filled with illegal or borderline illegal gambling dapps, Bittorent literally funds piracy and content theft.
He buys up companies and turns them into a Tron shilling machine without creating anything of value.
He "fakes it till he makes it" and now that idiot investors gave him money he wants to buy one of the only things in crypto thats worth a damn?

No thx.

Snake oil salesmen were great marketers as well, the best, doesnt mean id want them running steemit.

So you rather pay $24,99 PER movie instead of just watching them for free thanks to bittorrent?

I get its nice and all to be a "legit" but do you REALLY need to give more money to the entertainment industry which is the only industry that is not effected by recessions. (just like the mafia)

Id rather walk into a store and just take the beer instead of paying $6,99 for a six pack.

It doesnt matter if you think some industry is mafia like or not or how much money you think they should earn.
Those are just justifications for content theft and now you add a token to it?

Let me ask you this.
If you saw someone literally rip off someone elses post here and get rewarded for it, would you downvote?
I would. I would downvote even if i thought the guy that got his content stolen was a prick and a douchebag.

So you can steal from someone because he's rich? Come on...

The Congress shall have Power [...] to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries. *

 last year 

Sometimes I think it's probably easier to onboard people to the benefits of snake-oil at this point.

Depressing

Youre probably right.

Exactly this.

I think it's worth really less than 15M.
Max 5 in my opinion but I may be wrong.

I can totally see him wanting Steemit for the community and the platform.

I don't care if people hate him, crypto will see mergers and it would be interesting as could be

Im not denying that it would be interesting but so was pulling a fishing hook out of my finger this summer. It was an interesting sight.
Doesnt mean i want to do it again.

If Steemit.inc didnt have as much stake as they do id probably not have a big problem with this but since they hold as much as they do they are a huge liability. I trust Steemit.inc not to abuse the power that came from the early mine which they are not doing but i dont trust Justin a single bit.

I trust steemit inc and all the rest of our stakeholders too, to sit and watch the project languish.

We need an influx of excitement, energy, money.

If Steemit inc. wanted to sell, it could mean that their backs were against the wall and they didn’t believe in the sustainability of our future.

If communities and smt’s are really supposed to bring life back into this place (I think it will), why sell you’re stake when it could easily be worth double or triple in the next year?

Edit* and the pump begins 🎅

If this is true and Steem inc is considering this, maybe put future isn’t as bright as we might think. In that case I’m all for Justin Sun gaining a stake. Worst case we sell our stake once the price pumps if we don’t like what he’s done with the place lol

The future is as bright as you make it.
Development and marketing is what we need.

Also, at times companies just don't have the knowledge or resources to take a company to it's potential alone. A smart business owner knows this and also sometimes competing companies join.

The last company I worked with was acquired 5 times in 10 years, never once was it because we were failing, it was because we could be stronger.

Also, we all know that steemit inc is cash poor and their constant sell pressure has hurt the price. I call that backs to the wall.

great points whatsup! Well rumor or not, the price is up at least, so I'm hoping for the best!

Wanted to buy a huge chunk of Steem next month if the price stayed low, but I guess the universe is telling me to buy BTC and see what happens lol

Cmon. SMTs, Communities, lite accounts from Steempeak, Splinterlands...
Just because we might be used to the news and need a constant stream of excitement as internet users, doesnt mean we need the "Announcement of the announcement guy".

Look around steem, find an exciting creator, theres enough of that to enjoy while we wait for the test net to end.

Thinking about the price of Steem all day every day kills what this platform is about. People, content, engagement, dapps etc...

You don't get to define what this platform is about.

You only get to define what it is about for you

Well no. Its pretty well established what this platform is about. Pretty sure it was from day 1, even before the whitepaper when it was just an idea in Dan and Neds head.
The platform is about diversity of people, content, ideas, monetization of content, and whatever else. Its not only about "how much does steem cost today".
You can explore only that side of it (which indeed is not what you do) but its not the only side of STEEM.

Who said I am talking about money, I am talking about painfully slow development.

Painfully slow adoption, zero marketing and most of our efforts going into changing our own chain and attacking our own userbase. Which is NO WAY to build a product.

👀

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Yes, the marketing might get better but what about decentralization? Have you forgotten the co-founder of Tron left the project this year because he said it was no longer decentralized? Source

Also "32.6 billion Tron (TRX) worth approximately $744 million are not in circulation, indicating that they are held by the Tron Foundation. Notably, Justin Sun is the Founder and CEO of the Tron Foundation.." Source.

In my opinion Tron means danger to this platform.

True rumor or not, time to spread the gossip. Free buzz to get the cryptosphere more aware of whats goin on here. And steemit isnt steem, so im good with the additional stability if they want to own the largest stake in the blockchain.

Hostile takeover??? :O

Or am I just getting all...
Dramatic

!dramatoken


Such drama, you've earned a DRAMA!

To view or trade DRAMA go to steem-engine.com.

Steemit Inc. is a business and if they choose to sell, who knows? Maybe it'll be for the benefit of the entire Steemisphere? My question would be, is if Eli and Andrarchy and others are under contract, do they come with the package?

Very emotional @whatsup, full of expectations, although I don't know who that guy Justin is.
If you're happy I'm happy. hahahah

baile.gif

We don't know if it is true. But it's a fun rumor.

He's the founder of Tron.

Well isn’t that an intersecting turn of events, if he can bring steem into the Chinese market more power to him, I’ll be sitting pretty on my investment

Well we'd pump ....before we dumped

I think it'd be good for any of us looking to get rid of our steem at a better price. Can't imagine it being good for the mid or long term future of the platform.

I don't see how it would be bad.

You think he really cares about if steemit works out or you think he cares about using it to promote tron?

I mean, I’m good no matter what happens. I wouldn’t mind a pump and if the community got overrun by tron SEO and scams It could be good for whaleshares or some yet to be released eos platform. And if not I’ll still be here :-)

I think it would be a great thing for him to have a platform with a community to help his own users. Have you ever tried to find information on how to use anything on Tron? It's a bigger mess than Steem by far.

Thanks

No doubt it would be good for tron! It's be great for tron

I guess it depends on how much stake of the network Steemit currently owns and those stakeholders that would follow Sun's marketing for chain changes. If it's enough to elect super majority of witnesses he could do whatever he wants to our base chain.

I was thinking about it like they purchase SteemIt Inc. The company, and some portion of the stake that would go with that.

In that position they could keep the team or not and add marketing and resources.

Yeah my biggest question would be how much stake is going to them. Not sure it would matter as a lot of users would likely kowtow to his influence regardless if he's the new 'boss'.

Very true

That’d certainly be a nice Xmas surprise and an optimistic start for the new year...

Nice!

Justin Sun is a nobody to noncoiners. To those with cryptocoins he is mostly considered a successful, but scummy marketer.

It will boost price if true, but it won't actually make steem any better unless it attracts developers and development. Looking at Tron's other projects I doubt this could be a long term good.

If he buys SteemINCs stake, a fork to remove ninja mined Steem should happen. Play both chains or sell one and stck with the other.

if they acquire steem, they will probably buy the whole ninja stake too ;)

Imagine in the event of a sale, a fork where all the ninja mined steem is burned or moved to the SPS instead of sold to Tron Inc.

That can not happen unfortunately, knowing people of Tron, they would never buy Steem without that stake included...

In the best case : Steem and Steemit stay as it is and we will all get benefit of that new partnership. So the Steemit team can continue their work and deliver the new promised features and improve the chain with less difficulties.

In the worst case : they will use the stake to put their own witnesses on Steem, make their own promotion on Steemit, and so until Steem, Steemit and we falls.

I cannot see the worse case you mentioned being profitable or wise for even tron.

🤷🏼‍♂️😂

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I don't know what to think about this...

I know you already know, but I wanted to make sure this got posted here. :)

@tipu curate
Now, I really hope that if it's true, he won't just milk the platform or use it to fund/shill his other projects... Anyway steem and it's community is pretty resilient so even if he decides to dump it, we'll still be here :)

Upvoted 👌 (Mana: 0/10 - need recharge?)

Is this true or fake news now??

It's unconfirmed

If confirmed please create a new article or state this somewhere I would love to know please

Here is the Weibo post by Sun Yuchen cited in the original Mars Finance App article (translated using Google from the original Chinese)...

image.png

...according to people familiar with the matter, it was revealed to Mars Finance that Tron is about to acquire the blockchain project Steemit. -Mars Finance APP (WeChat: hxcj24h)

No mention of STINC acquisition in the WIEBO post made by Sun Yuchen.


I am very nosey and very good at research.

Not sure what to think of this :/

This has got to be fake news...

Anyone remembered a time where someone said Samsung bought Steemit Inc? 🤨

It's not the first rumor for sure.

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