Remember the Justin Sun fiasco? Well, that has me to the STEEM governance deciding to fork the STEEM blockchain to create a new cryptocurrency.

If you read my last post, you'd have gotten the full gist. If you didn't read it, you can do that here.

The bottom line is: Tomorrow, the STEEM blockchain would be forked, and a new cryptocurrency would emerge.

Why should you care? You already own STEEM. You'd be getting your new crypto coins once the fork happens.

Well, I'm saying that once the fork is over, the value of STEEM would reduce by a pretty big margin.

All the former STEEM Devs would be working on making this new cryptocurrencies great. And the only holder of STEEM left, which would be Justin Sun and you, would want to sell the now valueless STEEM.

This would lead to everyone trying their best to get rid of their STEEM tokens- at any price, to anyone willing to buy them up.

Add that to the fact that some people only bought STEEM to participate in the fork(I am one of those people😉), and would be selling off their STEEM once they get the forked currency.(which would eventually be of greater value than STEEM)

This is kind of a heads up warning.

Remember when BCC(now BCH) forked from Bitcoin? That day was pretty bad for Bitcoin investors, because everyone pulled out money from BTC to buy up some BCH.

And now the same thing might happen with STEEM.

With everyone who bought STEEM solely for the fork selling, and Justin Sun probably trying to sell his stash, and STEEM investors pulling out their money from STEEM to buy the new coin, the only way for this coin is down.

What do you think of the hard fork, and owning STEEM afterwards? Let me know down below.

Thanks for reading!