It's hard to digest the whole situation regarding Steem, STEEM, and Steemit. I guess this is the only time when I referred to Steem as a whole, and this whole is on the edge in creating painful wholes in many of our hearts, the virtual ones of course. It's clear now that Justin Sun has bought Steemit, but it's not clear yet, what does that mean to Steem.
I know that it all started with Steemit, and it's actually the interface through which I created this account, that just got two years old, but I can't look at it the same way I did yesterday, before I read the news, although I am in fact writing this post on it. It's much more than just Steemit now, but unfortunately, from what I read recently, Steemit, which now is owned by Sun, can have much more control on the blockchain than what I knew about.
Theoretically, the blockchain can continue working, pretty much the same way ETC works after forking ETH, but do we really want a Steem Classic? I don't for sure, and I'll tell you why. My technical understandings on how this tech works in detail is pretty limited, but I can read psychology and that's what I want to en-light with this post.
So, for the Steem we all know, to keep on going further, and ignore Steemit Inc and its new owner there has to be a Witness Consensus, because they're running nodes, but the question now is... there are actually two questions, and the first one is: can Steemit vote for witnesses, and do that for the ones that they can buy for transiting Steem to Tron, and eliminate the more rebellious ones that refuse the transition?
If that's possible bye bye Steem, Steemit and all that we called a virtual home and a community. Nothing will ever be the same, there will be Steem Tron, as per announcement, and who knows what rewards will look like, how witnesses will work further and how much decentralized the blockchain and the social media platform will remain. That's worst case scenario, and the one that we all fear of...
The other option and technically the second answer for the second question is in regards of Steem Classic. If Steemit Inc doesn't have the power to influence witnesses and if they can fork Steemit Inc out of the blockchain and leave Justin with what he bought, then we will be left on our own and theoretically things will run further as they did till yesterday. Steem is going to transform itself into a Classic version, or it might remain as the original version, but how much value will it have on the market?.
You know, this guy that bought both Poloniex and Steemit, is an influential one, unfortunately, and he did that to profit himself and not you and me. I don't bite the apple of lets make things great for both the parties. There is no such thing, perhaps in some happy marriages it exists, but for the rest of the possible scenarios, it's quite often when a party has more advantages over the other. Hence, him being an influential crypto dude, he can really ruin our Steem on the markets.
He delisted it from Poloniex, and why he wouldn't pay CZ to do the same with Binance. Don't tell me Binance doesn't accept favors for favors because I don't believe it. I watched a whole hour of a crypto influencer, a Romanian one, that offered, for free, insights on how crypotcurrencies are listed on exchanges, and Binance is no expection to that rule. So, if The Sun wants that he can make Steem, Steem Classic or how do you want to call it, probably even less valuable than Dogecoin currently is.
He took it out of Poloniex, which I refused to use ever since he bought it, and if he does that with Binance and some other important ones as well, we're gonna blog for internet points, and that's it. Some of us will probably continue doing that, for the sake of community, but are witnesses really gonna run nodes for chips? I doubt that. Only if you'd be a millionaire one, and still, you would like a share of the pie.
Price wise Steem is currently doing OK, not great but OK. However if you pay attention to the top exchanges trading it, they're Asian and here comes the third question: will they resist Sun, and his charisma, if he intends on getting Steem, the way we know it, out of these exchanges and replace it with the Tron Steemshit? Be honest to yourself, when answering this question...
Hence, from my humble opinion, formed entirely on psychology of the masses and not blockchain technicals, we're pretty much at the hand of Justin Sun. And I don't like that at all, because I don't like him, and I don't care if he created an account on Steemit, or not, and started to post about the acquisition.
I feel highly disappointed about this situation, because my gut feeling is telling me we're not going into a good direction for ourselves. He can win some traffic for Tron, he can have his social media platform, while holding a piratery website as well, because for sure many will migrate to the Tron Steem, but I don't feel inclined towards that.
Yes, I came for the money, I am still thinking about the money, I will make money in this bull market, but other than that, Steem the way I experienced for more than two years is a one of a kind platform, totally different than the others, and I doubt anything that made it great for me, will remain unchanged after it transits. The ones that are only milking interested and only care about being part of a crypto project will not care about what I'm pointing out in here. A matter of fact appics has nothing against the transition. These cute girls from appics want their app running and that's it.
I wonder how much happy will they be when they will realize one Steem Tron token will be equal, in USD value, with TRX. Do you believe that if Justin can tweak the blockchain as he wished he won't change the total supply? I doubt he won't do that and I'll tell you why. Just to spread the news about Tron by airdropping free Steem to anybody and advertise, which will actually be his social media network and not yours.
There is probably the possibility that in time the Steem Tron will appreciate and it will at least get to the current value of Steem, but I don't have time for that. I love this project but if Sun fucks it up the way I'm thinking then I'm halfway to the door. Alternatives are being born quite at a fast pace, and a good one is publish0x, but I still can't come at peace with the idea that Steem can be ruined. I really can't... It's the first love of this kind.
Images courtesy of pixabay and free to use
Thanks for attention,