Post hard fork, what will happen to STEEMIT and STEEM?
Now that Justin Sun of Tron has taken over the STEEM blockchain, and many pissed off Steemers forked the chain and created Hive, there has been a pretty expected question: What next for STEEM?
We all expected Justin Sun to realise that his "investment" had become redundant, and sell off his STEEM tokens to try and make his money back.
Well, he didn't do that. Instead, he decided to start censoring content on Steemit, as well as banning users who didn't share his point of view. These two acts go against the whole mantra of Steemit, and this has caused a lot of users to leave.
In fact, most of the popular dApps on the STEEM blockchain have migrated to Hive. Equally, most big writers having had their posts deleted or been banned, have moved house over to Steemit.
In addition, within just 3 days of being listed on two major exchanges, the price of Hive was significantly higher than the price of STEEM. I'm still waiting for ATH to sell my own tokens, but that is a feat of its own.
So what happens to Steemit?
Well, I don't know for sure. But that won't stop me from giving my own opinion.
I believe that most people would either migrate to Hive eventually, or the new users who have yet to join STEEM would join Hive instead of joining STEEM.
In addition, I believe that since the community over at Hive is really and truly decentralised, they would attract many new users eventually. Although some popular dApps like DTube and the likes are still on the STEEM blockchain, I believe that a drop in the number of users would convince the creators to move house.
(Also, the Hive logo is so much hotter than the STEEM logo, but I digress)
However, if Justin decides to maybe sell of STEEMIT or sell his stash of STEEM tokens, we might have two amazing decentralised publishing platforms on our hands.
Either way, only time would tell.
Thanks for reading!