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.