Steem:Hive - 2:1 Ratio - This is like spitting up.
Steem:Hive - 2:1 Ratio - This is like spitting up.

By Juan Molina | Juan Molina | 9 Apr 2020


 

 

In the eyes of any newbie this would be irrefutable proof that Steem is still the dominant Blockchain and that Hive was only a cheap copy.

Many unbelievers who only came to Hive.blog just because they saw its initial price of 0.30 usd and because of the snapshot that allowed them to have more tokens, are already returning to Steemit and regretting having abandoned it.

They haven't gotten around to digging a bit and thinking: Why is this crashdown happening in Hive prices, while simultaneously raising the price of Steem?


Pay attention to clarify your doubts !!!


Before the Hardfork that launched Hive, it was announced that a snapshot of all staked and liquid tokens would be made. This would give all users and large holders the opportunity to get a good amount of "free" tokens.

 

Again the witnesses failed

After underestimating Justin's abilities, the witnesses were surprised by a masterpiece (dishonest or not) by the binance, poloniex and huobi exchanges. We all know how the 20 sock puppet witnesses were positioned.

Now they forgot to lock the back door again and Justin went back into his house.

When they took the snapshot, they also gave Justin hundreds of thousands of "free" Hive tokens. These tokens are being dumped in Steem, that's why we are seeing that rebound in steem prices, while in contrast, Hive is falling.


But this is like spitting up.

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In one way or another, many steem holders (Currently Active Hivers) are benefiting from these steem prices, since most Steemit accounts are currently on powerdown, with the precise and only intention of turning those Steem into Hive.

With a 2: 1 ratio (Hive: Steem) we will see how steem holders will increase their stake in Hive, thus demonstrating confidence in the new blockchain which will translate into Hive's price hike.

Although currently, Justin keeps many accounts frozen with millions of steem (@blocktrades for example, with 3,933,742.656 STEEM Stacked) this will eventually be reversed, adding millions of Steem that will transform into Hive.


Meanwhile Steem and Justin are enjoying an ethereal bonanza time.

 


Conclusion

The signals that Steem Blockchain is giving, thanks to its main Dapp Steemit, are not positive at all:

  • Brutal and blatant censorship of content.
  • Blog deletion. Every day the cases of posts erasure increase.
  • Changes in the TOS, where clauses were included that guarantee the total cancellation of user accounts.
  • Freezing of holders' assets. Who would think of placing their capital on a Blockchain where they can be frozen only at the whim of their current owner who wields fully centralized and tyrannical power?

I particularly loved Steemit. I still have a feeling towards that platform. But sadly I must see how he is dying and neither I nor anyone else, we can do nothing to save him.




@juanmolina

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Juan Molina
Juan Molina

I'm passionate about everything related to Crypto and Blockchain


Juan Molina
Juan Molina

I'm passionate about everything related to Crypto and Blockchain

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