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#steem

Steem Classic, anyone?

@liberosist@liberosist (72)2386d

I know, it's probably best to wait for more information, but thought I'd speculate on the announcement.

Be warned: this is pure speculation, and I could be totally wrong.

These dudes know how to groom their hair, will give 'em that. But Ned does not look like that anymore.

Edit: Here's the original announcement from Tron: https://medium.com/@TronFoundation/steemit-joining-tron-ecosystem-6ad66584d0b

Key emphasis on these lines:

TRON and Steemit’s development teams will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain

old STEEM token to a new TRON based STEEM token, giveaways to the existing TRX users with the new TRON based STEEM token

Anyhoo, the wording in the announcement sounds very much like the Steem chain is being abandoned and much of the existing infrastructure and dApps are moved to Tron. That's speculation, but what definitely isn't is that there's a token swap coming soon to move from STEEM from the Steem chain to Tron network. The question is - how can they make such decisions without witnesses approving it?

The answer is, they can't. The Steem witnesses, and indeed, the existing Steem chain at large, will have nothing to do with the TRC STEEM token.

Does that mean witnesses are fired? Yes and no. Which means, there's going to be a split in the Steem network, one that continues the existing Steem chain, and one that moves to Tron.

Someone with better information, please educate us.

Addendum: Poloniex has confirmed the swap. Yes, the STEEM tokens are being moved wholesale to the Tron blockchain. Additionally, there are giveaways for TRX holders. I certainly hope those tokens come from Steemit Inc's stake, but either way, that's pretty bad news for inflation.

Addendum #2: Ned is more candid. In no uncertain terms, he has sold Steemit Inc to Justin Sun / Tron.

Update, 1 hour later: Others seem to be interpreting the announcement similarly. My only hope now is that the transition is gradual and well thought out. We'll find out tomorrow.

Update, 3 hours later: As mentioned above, I just wanted to clarify that we don't know the timing. It seems obvious now that as per Tron's current plans, the current Steem chain will be abandoned and everything moved over to Tron. However, what we don't know is how long this process will take, how gradual the transition will be etc. We'll find out more tomorrow.

Update #3: I'm seeing a lot of chatter about how "witnesses will decide". No, witnesses have no say in the matter. Tron has their own witnesses, the Steem witnesses are irrelevant to them. All Steem witnesses can do at this time is a) convince exchanges/Tron not to support the swap; or b) let the swap happen with TRC STEEM becoming the new STEEM, and continue the legacy chain as STEEM Classic or whatever. Of course, there'll be an interim period while infrastructure and dApps are migrating to Tron that Steem witnesses will still be needed to keep it running. But once everything is migrated to Tron, Steem witnesses will have no influence whatsoever. That is, unless Tron have some wild new plans for the migration that we haven't considered. We'll find out tomorrow, as always.

Comments · 28

  • @anthonyadavisii(73)· 2385d

    I've been reading through Tron's documentation and, to be perfectly frank, the notion that a system as complex as Steem could possibly run on Tron is laughable.

    https://tron.network/sunnetwork/doc/guide/#get-started

    https://developers.tron.network/docs/trc10-token

    l3zu6k.png

    https://cointelegraph.com/news/steemit-to-shift-its-proprietary-blockchain-and-token-to-tron-network

    I can't believe our community is this naive.

    If anything Tron should be running on Steem, it's NOTHING compared to Steem...

    It's just another smart contract platform with a couple bells and whistles.

    This whole thing is a damn shame, really.

  • @notconvinced(62)· 2385d

    Meh...I need to know a lot more before I do anything. No info, no roadmap, no decision from me. I don't jump at political hype, so screw Tron until Justin says something of substance. None of us need Stinc!

  • @optout(59)· 2385d

    I'm all in for STEEM Classic. To heck with Tron!

  • @arcange(79)· 2385d

    Congratulations @liberosist! Your post was mentioned in the Steem Hit Parade in the following categories:

    • Comments - Ranked 9 with 81 comments
    • Pending payout - Ranked 4 with $ 56,35
  • @abdex9(66)· 2386d

    I'm gonna power down all my alts and this😢😲

    Posted using Partiko Android

  • @sanjeevm(78)· 2386d

    Yesterday I was thinking, not buying steem at 0.12$ was a regret, and now after reading this, I think, may be it was good to hold any further buying till things clears out. And all the SPs anyway are prone to the risk, but there is nothing we could do, with a 13 weeks power down. I think, we will definitely see some more updates in 1-2 week on where we are heading.

  • @justinsunsteemit(58)· 2386d

    Today, TRON joins forces with the Steem community & Steemit. We are so excited about this collaboration and value the voice of this thriving community. By committing a meaningful percentage of the STEEM token, TRON now aligns the same interests with the Steem community, to bring the value to STEEM token, to keep the core value of decentralization, to grow a one-of-a-kind decentralized social media platform. Steem community and Steemit team have been pioneering the decentralized social media initiative and now with this strategic partnership, together we have more resources, capital and bandwidth to make this goal achievable. The fact both TRON and STEEM went up today post the announcement only proves that the market and industry at large view this partnership as a mutually beneficial alliance. We will work closely with the Steemit team and Steem community on the details of how we will execute this collaboration step by step. Please join us in this endeavor, follow me on Twitter @justinsuntron, and voice your opinions as we pursue this exciting journey!! Thank you!

  • @lordbutterfly(80)· 2386d

    Im getting the fuck out. This wont end well. Justin doesnt give a shit about a few million so he probably wont negotiate. A split community loses and CZ is friends with Justin so he will just delist legacy Steem.

    Wer fucked. Ill pay attention to what happens but most likely im out... Was a good run.

  • @itstime(61)· 2386d

    To steem classic

  • @cryptokos(64)· 2386d

    We won't see you again steemit.com and we will see decentralized steemitclassic.com and steemit.com as a tron owner? Or steemit.com it will remain classic and the throne will have a new domain? I am very concerned about this issue. Also I am interested in the question what will happen if the witnesses can't hold steemit.com separate.

  • @steemitboard(66)· 2386d

    Congratulations @liberosist! You have completed the following achievement on the Steem blockchain and have been rewarded with new badge(s) :

    You made more than 4000 comments. Your next target is to reach 4500 comments.

    You can view your badges on your Steem Board and compare to others on the Steem Ranking If you no longer want to receive notifications, reply to this comment with the word STOP

    To support your work, I also upvoted your post!

    Do not miss the last post from @steemitboard:

    Valentine's day challenge - Give a badge to your beloved!
    Vote for @Steemitboard as a witness to get one more award and increased upvotes!
  • @creativetruth(71)· 2386d

    Not sure how this works.

    If the witnesses were able to make a divergent blockchain right now, would we be able to fully escape the Tron's Black Sun? Or has Ned had some kind of secret ownership keys all along that locks up everything the current witnesses are capable of?

  • @holoz0r(78)· 2386d

    Great analysis, thank you. The discussion spurred my multiple comments regarding Golos is a pertinent point that other people seem to have forgotten about. I'm glad your readers are able to recall, remember, and draw parallels between current happenings and the past.

  • @vikisecrets(80)· 2386d

    It all depends what Justin Sun has to offer, I am also not against a partnership, if it is in the interest of both Steem and Tron, this can also bring Steemit back as a top crypto project. Alternatively, it is also possible that the Steem blockchain forks off into Steem Classic and burns the Steemit stake like mentioned by @liberosist and continues to operate as is with DApp support and only Steemit Inc moving to Tron. Exciting times ahead of us but hoping for a good solution :)

  • @freebornangel(72)· 2386d

    This what we get for not forking stinc out earlier, imo. I'm following whichever fork gets it right. I've till got my golos keys, but that blond ass smashed golos a long time ago.

  • @daltono(81)· 2386d

    I like the idea about this being how lite-accounts are created. We shall see.

  • @osakaghoul(67)· 2386d

    Tron could be part of creating "Light accounts" on the platform perhaps. Lets wait for more info, im sure the space is big enough for new steem 2.0 and steem classic if that happens.

  • @edicted(83)· 2386d

    You are assuming a lot of things friend.

    Anyhoo, the wording in the announcement sounds very much like the Steem chain is being abandoned and much of the existing infrastructure and dApps are moved to Tron.

    So much of that sounds downright impossible. Do you have previous experience with Justin Sun? Everything out of his mouth is an over-hyped lie. I don't understand why the market is still perma-bullish whenever he opens his mouth. Nothing he says has the weight that is implied.

  • @chekohler(76)· 2386d

    Lol I prefer being called steemthereum Tron can keep steem classic

  • @lauch3d(66)· 2386d

    you dont need to wait it is pure game theory regarding the voice launch. Wrote about it in december:

    lauch3d 62 Dec 11, 2019

    Now when Sun buys Steem(it) there is the following problem:

    destroying Steemit or even the game mechanics of the Steem chain (which is not impossible) would kill the competition which Steem is, which would be a gift to Dan and Block.One.

    pumping capital into Steemit.Inc and the head developer team would benefit Steem but it also would bring Sun return, which is kind of a hedge.

    doing nothing...well would probably end in favor of Block.one

    --> so he would be better off buying Steemit.Inc as an investor.

    Why has Poloniex delisted STEEM right before Sun revealed his investment in Poloniex? Was he interested in weakening Steemit.Inc?

  • @brittandjosie(76)· 2386d

    Time is the key here, and we can also think that this might give us new opportunities.

  • @distantsignal(66)· 2386d

    Does that mean that the original Steem blockchain can continue developing or is this the end?

  • @valued-customer(75)· 2386d

    "...there's going to be a split in the Steem network, one that continues the existing Steem chain, and one that moves to Tron."

    Not sure about this actually. A 'legacy' Steem would in fact be a new token, since @steemit holds enough Steem to vote in witnesses to effect whatever code Tron seeks to implement.

    We'll see what comes, but I am deeply troubled by the prospect of Tron assuming control of Steem. Steem is presently the only vector for my posts. I have been banned, blocked, or unwilling to use other platforms due to censorship issues, and if Tron significantly changes Steem's censorship resistance - which I believe is certain, due to it's dependence on China - Steem will no longer be available to me.

    That being the case, I'd like to here and now express my appreciation for all you've taught me during my tenure on Steem. If I get the boot, I will miss your insight and forthright speech.

    Thanks!

  • @simplifylife(74)· 2386d

    Confusing times! If the steem tokens are moving to the tron platform, what happens to steemit and how are the STEEM going to be mined from here on? What happens to SBD? My head is eploding LOL!

  • @jeffjagoe(77)· 2386d

    this is going to be a mess

  • @vvk(51)· 2386d

    First Steem fork Golos has experienced something similar: in August 2019 old Golos team migrated to a new EOSIO-based blockchain, while old Golos was saved by witnesses, and also old founders stakes were frozen.

  • @soyrosa(75)· 2386d

    I need a LOT of opinions here.

  • @condra(68)· 2386d

    Insane things are afoot!