I'm Back!

in tron •  8 months ago 

Hello there friends!

I'm back from vacation and a wicked gaming addiction.
Wasn't that fun?


I hear there are rumors

of Tron buying Steemit Inc. What are they buying exactly. Thinking of what happens when companies traditionally get bought, they are usually buying the infrastructure. Therefore, we have to ask ourselves:

What is there even to buy?

You can't buy the code because it's open source. You can't buy the logistics because their are none. The number of employees are sparse and you can't replace them because the overhead of learning the code is too great.

The one thing that can be bought is Steemit Inc's massive stake. However, what would be the point of that? To make a deal that would make them pay more for coins than they would if they just waited for the price to go down further? If Tron was truly thinking about buying Steemit Inc they'd of already been aggressively buying up coins and pushing the price up while looking to make that deal after the fact. 13 cents for Steem is not expensive. A 10-20% gain based on a rumor is nothing. This is crypto, and the liquidity is terrible.


Remember when Samsung or whoever was also going to buy Steemit? It's all nonsense until it's confirmed. When we look back to why crypto is nothing like dot com we see that all the reasons to buy a company don't apply to the cryptosphere. There is nothing to buy here. It would be easier for them to just make a separate company that uses the Steem blockchain, but what would be the point of that when they already have their own blockchain? This news is vapor, and it comes at a time when Steemit Inc seems to be doing just fine and on the brink of releasing SMTs and communities. Who sells their company at a time like this?

On the other hand, a rumor about a large scale acquisition like this might allow one to dump more coins onto the market as the demand to buy goes up. Seems a lot more likely. Free money.

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Yeah I saw the rumor just now and it seems stupid lol but let people hype things up. Probably whales trying to get an increase in price and they dump their stake.

I agree. This is bullshit and fake news until confirmed. The rumor has been let out to cause a pump in the price.

Man, I hope you're right overall. WB BTW.

"Who sells their company at a time like this?"

I note some that should have, like Yahoo.


  ·  8 months ago (edited)

Nobody buys aggressively 60m+ STEEM from a pool of liquidity of around 120m and a total virtual supply of 367m! Yes, Steemit, Inc. stake has value, and it's much higher than the market price. But...

On the other hand, a rumor about a large scale acquisition like this might allow one to dump more coins onto the market as the demand to buy goes up. Seems a lot more likely. Free money.

This is very likely and my first thoughts.

Less likely, could be that someone is testing the vibes it creates in the community by associating the two blockchains and throwing Jason Sun name in there...

The main thing he would be buying is steemit.com. My guess is that he wants actual users more than anything else. I would doubt he would have any interest in developing and progressing the Steem blockchain or token, so my guess is he would just try to use the acquisition to get everyone over to Tron which would probably spell the end of Steem. Sure people could still run Steem nodes and keep the original chain running, but in reality Steemit, Inc controls Steem. They control the only real developers on the platform, the exchange relationships, the main app on the platform, etc.

Of course, this is just a rumor with really no basis so far, so it all may be a moot point.

Agreed totally.

With a social blockchain filled with engaged and vested citizens, any news can travel fast. True or false.

If I were to buy out the steemit stake, I would do it when it is at its lowest value...which is pretty much now. Otherwise, what is really of value is the community of thousands of individuals and you can’t buy that. Easier to create one with incentives and marketing, which the prospective buyers have plenty of budget for.

Welcome back, happy gaming and carry on!

Posted using Partiko iOS

Justin did buy out Poloniex and they hold tens of millions of coins... let’s see what happens lol

Posted using Partiko iOS

There's around 3.5m STEEM on Poloniex currently, according to @penguinpablo's weekly report about STEEM on exchanges from 5 days ago. It dropped fast after they announced they will no longer support STEEM and there is a deadline to withdraw it.

Maybe is a partnership. But something is going on there is a week old super whale with 10 mill steem https://steemd.com/@rap7tq6vu58ujg

That account seems to be related to the Bithumb exchange (if you follow the chain of how that account was created).

Finally some sobering common sense amongst the dreamers..

Posted using Partiko Android

Welcome back and yes something smelt a bit fishy about this whole Tron thing. Looks like someone just wanted a quick price hike or was bored in their flat so had to make something up, anything!

Just going to wait for prices to come back down again which they will/are and then pay day comes again and then we load up to "horca" (half orca 25k SP).

Communities and SMTs are going to be the reskin the steemit front end needs, it'll be interesting to see how it plays out