Let's pretend for a moment that you bought out a major company that sells, say buttplugs. The Buttplug Company has a Lion's market share in the Ass-Insertion Industry, and you're super happy to have it. However, things start going south when you decide that things need to change a bit. The company currently makes these buttplugs in stainless steel, but you just so happen to own a Pig Iron foundry. So, only a few weeks after buying the company, you prematurely tell all of your loyal consumers that the Buttplug Company is gonna make some serious changes.
Needless to say, your customers are beyond pissed. They really liked the way things are, and coming along and pissing in their cheerios for the shits and giggles really rustled their jimmies. After a series of gaffes, policy changes and outright bullshittery, A group of really competent employees give The Buttplug Company the finger and head out to make their own Buttplug Company. Granny Beez Buttplugs promise to keep the same stainless steel design of the original, but chrome plated, a fresh rebranding and a promise to keep on doing things the way the Buttplug Community likes it. Here's the kicker; if you were a loyal customer of the The Buttplug Company, you get a Granny Beez Brand Buttplug... FOR FREE. That's how they do it.
At this point, you're PISSED. You don't want any of the employees to talk about Granny Beez, and you start punishing people for doing it. Several months and gaffes later... more employees leave and create their own company too. At this point, you're losing both employees and a big portion of your market share because people are tired of your shit. So much for growing a brand huh?
A Comedy of Hard Forks
I'm not going to go into incredible detail on this one, because @paragism already did a crack job at covering the newest Steemit Debacle. I wrote about the Tron Buyout back in March, and Sadly... my crystal balls were innacurate. BUT, do you know who called it? @paragism did:
You Psychic Son of a Bitch.
Give this man a follow. He deserves it more than I do. Read his articles and tip this man. However, for the sake of talking about this I will give you the cliffnotes.
1.) Steemit will hard fork again.
2.) The new fork is gonna be called Blurt.
3.) You get an airdrop of Blurt tokens on the new platform.
That's damn right. Read Paragism's post to find out what you get. They already have a snapshot for May 20th, so what you had then is what you have now on Blurt.
The Asshole Opinion on This
Justin Sun Screwed up royally. In the oppressive shine of his ass, people got pissed and decided to make a place where things can be better. It has been said more than once; you can buy a company, but you cannot buy a community. People are not gonna bend over and wait for the anal insertion that you're more than willing to give them. In the case of Steemit, they're gonna go to a place where the Sun doesn't shine.
This has been a HUGE case study in the potential downfalls of Delegated Proof of Stake. I think that DPoS has many great qualities that make it worthwhile, but the consensus in light of changes can polarize the stakeholders. It's a major flaw in the system. Axiom 3: People are HORRIBLE at managing themselves. Consensus is hard.
Steemit was a great community, and one I was extremely excited to get involved with. I was terribly disheartened when I heard of the Hive hard fork, but I supported the cause of Hive. When you have had enough, you have had enough. Justin destroyed a once great community that was the first of its kind, and it's like burning down a wonder of the world. The annals of Crypto History will look back and laugh at Sun's incompetence. They will also be dumbfounded in the irony of his actions; a man who started a cause for decentralization did the exact opposite.
I'm gonna be active on Blurt too. Viva LA Revolucion.
Thanks for reading.