Hyping rumors and looking skyward

in hive-167922 •  5 months ago 

It has been a very busy day at work - so, has Justin Sun and his Posse bought Steemit Inc yet?

I had a quick look through Twitter and it didn't have an update, but there were a few people conflating Steem with Steemit Inc. I guess if the rumors are true, we are going to have to again let people know that Steem isn't Steemit Inc. Thoiugh, they are pretty influential.

Especially with the size of their stake.
...or whoever owns it now.

This actually brings up quite a massive question as for most of the life of the blockchain, the Steemit Inc stake (at least ~70M) has been largely unused, though some portion of it has been delegated to some applications to help them get off the ground. While there was an unwritten understanding that the stake would be used to influence the operations (that much) of the platform, if it has been sold to a third party, that "contract" is unlikely to remain valid. The question is,

WWJSD?

What would Justin Sun do?

This sets up the conditions for what could be one of the largest changes Steem has ever seen as it would mean that a "non-Steemian group" would have the largest and most influential single stake on the platform, and all the privileges comes with it. Voting for witnesses included. Will this be a good thing for Steem, or will it turn authoritarian and challenge the decentralized nature of the platform? Just remember though, while Steemit Inc has a lot of Stake - The Steem community has more - something that every investor into Steem needs to recognize and understand in regards to their responsibility to the chain - well, I think some staekholders will understand that.

At least, it seems that the Steem pump last night is based on the hype of rumor, which is something that Sun is relatively good at creating around his projects. Perhaps having Steemit Inc will mean that one actually has use case and a strong community to support it, other than pure speculation.

While necessity is the mother of invention, uncertainty is the mother of possibility - and this does create uncertainty around the future of Steem, not necessarily its survival, but its direction. As a social experience, Steem behavior is influenced by all kinds of interactions and news like this can both cause fear and also invigorate the community. Last night in chat with a few people, there was far more invigoration than fear as most who are invested and interested prefer the volatility of the unknown than the stagnancy of the status quo - it is what makes them traders and developers toward a better (and more valuable) future.

With the access to other non-crypto communities that Sun has, the opportunity for onboarding many millions of users is possible, and with SMTs and communities around the next corner and a bullrun gearing up t potentially dwarf the 2017/18 run, the timing may be perfect for Steem to showcase its technology, scalability and ability to provide access for normal daily users as investors and contributors. Will Steem start to fulfill some of its real potential?

What do you think?

Are you ready for the moon - or waiting for the Sun?

Taraz
[ a Steem original ]

Onboarding

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Not sure but I dont think that Steemit INC will sell all their stake .... it may be some partnership, shared project or something similar ...

Its a DONE DEAL !!!!!🤣😃😄

Agreed. I think Steemit, Inc and Sun may be entering into a partnership of some sort.

Dunno, the account updates yesterday are strange perhaps. Either way, it is nice to have a little bit of excitement around :)

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When can we start talking about Lambos? I wasn't here last time. This the first bull run for me.

I wouldn't call this a bull run yet, well not compare to last time anyway :-)

BTC crosses and holds 10,600 then we can start the Lambo and bull run talk.

There will be no ATH until maybe in the winter of 2021/2022.

False! ATH coming in 6 weeks.
200k by Christmas 2021 :D

Ah, anything above $20,000 would an ATH. But who cares? Yes, $200k by Christmas! :)

10,600 or 16,000 ? :D

10,600 to start the talk. 16,000 to start the Lambo shopping. Or at least a Corvette.

As @paulag says, this is just the beginning :)

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I have seen others here on steem also share about the same topic. it does appear that Justin kinda confirmed this. Interesting times. But they might just have a big community launching with smts. I know steemit inc were hoping to launch smts with partners in place. Intersting times ahead

Yeah, it is just rumor for now, but at least it is something.

there are so many something, soon steem will explode :-)

:D yeah, it is fun :)

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thanks for the engage, I need to start distributing these myself

If nothing else, it adds some bloat :D



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if he got all the 70mil think that would not be that great, but i think they would not do that. if he got that 3mil that was moved around, that could be a good thing. hype plus new users would be a good thing

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Yeah, I think he would want a lot more than 3mil, and he wouldn't get that off an exchange. Will be interesting to see what kind of deal it is, and of course, if it is.

not really used to think like milioner :D so 3 mil looked like a decent amount to invest. you are probably right

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I think the STEEM rally has a lot to do with the SBD Debt Ratio going under 9%. No more liquid STEEM printed. Anyone who wants to sell their earned SBD will have to trade it for STEEM thus creating buying pressure on STEEM unless they can sell their SBD directly on an exchange. And since SBD is trading above one dollar, no one is converting their SBD into STEEM, either. The supply crunch in conjunction with an uptick in demand like in the case of any alt in the top 100 resulted in a small pump.

I think the STEEM rally has a lot to do with the SBD Debt Ratio going under 9%.

Pretty sure it is the rumor that made the Steem run. Quite sure.

unless they can sell their SBD directly on an exchange

Bittrex has some volume, but I have just been trading on the internal market. The pump has come from buy pressure on exchanges.

Of course the STEEM pump has come from buying pressure on exchanges. But the price is determined by sell volume as well. Someone has to be selling. Less STEEM is being printed + uptick in buying interest => higher price.

There was very little resistance before sbd started printing, and very little last night too.

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That'll probably explain the pump. Still I don't think steemit will sell all their stake though. Even if they do, there's bound to be some sort of agreement ensuring things don't change too drastically too fast

I wouldn't sell all my stake at these prices either :)

However, who know, perhaps some drastic change is what is needed in regards to Steemit Inc.

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With the access to other non-crypto communities that Sun has, the opportunity for onboarding many millions of users is possible.
And with SMTs and communities around the next corner and a bullrun gearing up t potentially dwarf the 2017/18 run, the timing may be perfect for Steem to showcase its technology, scalability and ability to provide access for normal daily users as investors and contributors.
Will Steem start to fulfill some of its real potential?

Goosebumps.

Definitely!

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Will this be a good thing for Steem, or will it turn authoritarian and challenge the decentralized nature of the platform?

If the Bitcoin forks have taught large scale investors anything, it is to not rock the boat too much so as to avoid the nuclear option.

But, Bitcoin sucks ;D

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@tipu curate

Upvoted 👌 (Mana: 10/15 - need recharge?)

This is great news for Steemit and the price of Steem.

This seems to be a very positive thing if indeed it comes to pass.

Let's hope they understand that whales flopping around in the pool push newbs off the bread line.
(The main reason they are interested in being here at all.)

It's better now that the bots are gone, but large delegations to 'projects' sucks up the inflation even more efficiently.
Presumably those 'projects' are selling to pay initial launch costs, so they will not only shrink everybody's slice of pie, but they will be selling pressure, too.

Delegation leasing equals vote selling on steroids.
lucy-parsons.png

Man I have such a steep learning curve ahead of me.

I am sure someone from TRON can teach you :D

Are you ready for the moon - or waiting for the Sun?

sometimes.

What do you think?

Are you ready for the moon - or waiting for the Sun?

Sun or the moon, I don't care. I'm just here for the ride. And I can practically taste the Stefan's Steak house steaks in my mouth. I think we'll have a meet there sooner than later.

I think we'll have a meet there sooner than later.

And at my new place... in 15 years when it is nearly ready...

Exactly like The Money Pit!
I tried to find it on Netflix and HBO, but it isn't there.

You wait til you see the place... Tom Hanks was lucky....

Oh I know! You have to organize a Steem talkoot at your house. Ask people to renovate your house for free in exchange for food and beer. We should place our bets now to guess how bad the house will look after that. :D

I'm an excellent renovator. I can hold a hammer.

@galenkp is visiting in the summer and I was thinking about organizing a little meetup

Sounds fun! There we can all be awkwardly talkative and noisy, terribly silent, saying weird stuff, trying to avoid human contact, not listening but hearing everything and making weird faces like three kilograms of cabbage in stomach had something to say to all that sitting in hard chairs with uncomfortable clothes on. And that's just me, I wonder how all the others are gonna be like. Normal I guess. Unless I'm not invited, then I can stop being nervous and stop breathing to this paper bag I have for emergency situations.

:)