The Tron Foundation made an official announcement.
Steemit and Tron are partnering up.
After months of speculation, it is now revealed. Steemit will be incorporated into the Tron ecosystem. As stated in the release, it is going to mean that each person holding STEEM will have a token swap for one based upon Tron.
Together, TRON Foundation and Steemit Inc. will look to create further value for their users and to augment their advancements in decentralized technologies, including moving old STEEM token to a new TRON based STEEM token, giveaways to the existing TRX users with the new TRON based STEEM token, as well as a new accelerator program towards the developer community.
https://medium.com/@TronFoundation/steemit-joining-tron-ecosystem-6ad66584d0b
This certainly will enhance the reach of Steem and its applications. It will also bring Steemians back in touch with DLive (remember them?).
Speculation was that this was going to take place. Now it has. Ned moving his tokens around gave many insight into what was about to occur.
It seems to be official now.
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Image from article linked
Posted via Steemleo
Anyone notice how Ned's twitter account now says "formerly @steemit"?
I don't get it. STEEM has better token properties than Tron. If STEEM becomes a Tron token, that's a downgrade?
Or did he just buy STINC and everything stays as is?
How do SMTs fit with this? This is confusing af. Not sure what to think of it yet.
The only thing for sure right now is that Sun is a frickin marketing GOD.
Right. But steemit inc has low funds that we steemians always realise but Tron has huge funds to grow steemit. I think, It's positive for us.
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I guess this means stinky (STINK) will stop selling steem and just that will make our price go up.
Posted via Steemleo
It sounds like STEEM becomes a TRON token because old holders of STEEM will get new Tokens on the Tron Network. It is kind of like Golem and Ethos are Ether tokens but they are still Golem and Ethos. STEEM will be a Tron token but still be called STEEM.
Tron bought BitTorrent (BTT) but there are also independent projects on the Tron platform. I guess that Tron is willing to buy other projects unlike, say, EOS who is just EOS and doesn't own any of the other EOS tokens.
we need to know what will happen to our steem power
This has all the hallmarks of a major cluster fk about to happen.
That seems to be the standard. Each business decision I've seen made from the platform owners has been poorly planned and or executed.
And the platform has really just stagnated, and the numbers of users reflects that.
It already is @flemingfarm.
The he said, he did not say is already in effect. The post was up, then it wasnt.
Is it Steem or is it Steemit Inc?
Not off to a great start.
Posted via Steemleo
I would say it's popcrn time but I am thinking that all we are going to get is a raging inferno.
Change is inevitable but change for the sake of change usually ends up in disaster.
majorly major!
Their wording on this is entirely confusing. I hope someone steps up to clear the air.
Sun’s tweets are talking about STEEM being reorganized in the tron network and all Steem projects moving to tron. Not sure what that’s supposed to mean.
The distinction between Steemit and Steem has never been more cloudy than right now 🙈
Posted via Steemleo
There will be a livestream tomorrow with Justin Sun & Ned Scott.
I was thinking the same thing. There are a group of Witnesses that have a say in that. If he bought controlling interest in Steemit Inc (or all of it) I dont think he has the ability to override the rest of the community. I do not believe he has a majority of the tokens unless there are others who are already throwing in with that.
It will require a lot more details as to what is taking place.
Plus Steem has the active user base. Tron does not seem to have a ton of applications that are getting a huge amount of use.
Posted via Steemleo
Can they even do this without our approval? 🤔
I'm not able to grasp what that would even look like to be honest. More confusion than anything else on my end at this point, lol.
But can SteemIt do these kind of changes with our tokens? I don't think so. They can migrate their STEEM to TRON, but not ours. Right?
Well, we do hold steem in a steemitwallet...
Posted via Steemleo
Yeah, how does a "marketing guru" like Justin Sun fuck up this royally to confuse Steemit and STEEM? These "800 Steem projects" are not just gonna come running over to Tron just cuz Justin cut a deal with Ned. All of this seems really really weird.
I'm betting it's just Steemit getting acquired, and the SMT they would have built on STEEM is now gonna be built on Tron. So is it gonna be called Tronnit?
Ahahahhahh, I love Tronnit! LOL
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WTF. Thank you for the heads up. I'm glad to see I'm not the only one confused as to how this could possibly work (Steemit v. Steem). GTK it's not just my normie non-techie brain going, "wait, what?"
Maybe STEEMIT inc will split off, and SMT themselves into a TRON token!
that still leaves us here on steem to keep building!
What I read is that each app will be offered a 'package' (read: accelerator bribes), probably the witnesses too....
This is quite distressing but I am keeping my eyes open.
The best scenario I can think of is a bunch of hardforks happening, and the tokens splitting and our steem still being worth steem, while our steem is also converted to tron.
Split that blockchain?
My steem-engine tokens mean something and steemit inc cares nothing about those tokens.
Posted via Steemleo
i like that scenario ! Did they buy steemit or our coins ?? this needs to be clarified and soon, they can have steemit.inc , now problem, but i dont give up my steem for tron shitcoin scammer ! ! I did not consent to selling my steem power to nobody ! i have had them now almost fours years !
The post was removed by the Tron foundation.
Well that didn't take long.
Perhaps someone spoke out of school.
I wonder if Sun knew the difference between Steem and Steemit Inc?
Posted via Steemleo
It's back again. Confusing as fuck.
Does this mean that Steemit, Inc has been sold to the Tron foundation. They still don't own the chain.
I agree with you on that. Although Steemit Inc does do the development for the Steem blockchain so without them, there needs to be blockchain devs stepping up.
That is something to consider.
Posted via Steemleo
Tron foundation has money to throw around. Perhaps they made an offer to Steemit, Inc that it could not refuse. Knowing that all the Steem blockchain development is done by Steemit, Inc, Justin Sun decided to take over the chain to make Steem users into Tron users. Tron has money but few users.
People hate on Tron and i get why but one thing it has, that is the most important thing is network effect and simplicity. Call it what you want, the tech is not the best out there but this is not what matters. Adoption is what matters. Ask JVC about VHS.
Tron has great marketing. I don't know anything about the quality of the chain. It's a DPoS chain.
Son is live streaming on DLive tomorrow to go over the details and POLO just announced it's relisting Steem.
The same day as the Voice Beta, geez makes you think.
Like him or hate him Just just went to God tier for marketing the way he teased and launched all this together the dude is a marketing genuis and imo purposedly released the annoucement this day since Voice is getting started.
Yeah well that is public attention 101.
Try to steal the thunder from someone else when they are bringing the lightning rod out.
Sun did usurp Voice a bit.
Posted via Steemleo
They are not relisting STEEM(the token you know)... they are relisting a TRON token that will be called ... "STEEM"?
You're right. I was thinking it would be Steem, but they just acquired Steemit.
But if they have enough STEEM TOKENS they can acquire governance of Steem pretty easily.
And it sounds like they are paying people for steem tokens... which could get them there.
Big things ahead!
How can Steem Tokens be converted to Tron Network Tokens? What happens with the Steem Blockchain, Steempower and Ressource Credits???
I can't really make sense of that Statement or do they mean that Steemit.com will become its own Tron Tokens at some point?
Because how should Steem Blockchain run without Steem Tokens??? lol
Maybe think smts. A tron/steem token is possible let's call it treem 😃
I would say that is a problem. The Witnesses have a say over that.
I think there is miscommunication in the release. Is Sun getting Steemit or Steem? The Community has a say over the later.
Posted via Steemleo
They can't get steem unless they hostile takover... which i guess means sell your tokens to another party who now has enough voting power to elect 20 witnesses that all do what they want and they can do any blockchain decision they want.
But with this said we have very little details. So all speculation.
I am thinking the same thing. Not sure how any of this is going to work out.
Posted via Steemleo
The market will have its say and at the moment, the market likes the news. Steemit wont die due to lack of funding anymore im pretty sure.
Fork, Split!
Posted via Steemleo
Also steemit runs the API that most people use. @anyx has one that could be used i suppose. But we may need to make the SPS much higher for him. haha
You loose your resource credits in the present system if you sell your steem tokens to whoever the party over there is that is buying them from you in exchange for that other token.
swap would be like steem tokens would be using tron blockchain then what would be the use of steem blockchain
How is this good for STEEM... TRX is worth less than nothing..
TRX has a much larger supply.
More supply means everything is worth less.
Posted via Steemleo
It also means you can buy more with less.
Value of their token doesn't really mean much in my opinion.
1 million #shitcoins is still just a pile of shit.. 💩💩💩
You give up your steem token you give up your stake in the governance of the Steem blockchain. We have yet to hear what sort of governance they are offering.
Perfect time to sell. What a shame
Sell the news bro, sell the news...
Luckily i started my powerdown a week ago
I did too.. but I guess I will have to increase the power down amount
On the bright side, I can now easily use my Tron along with Steem. On the bad side I have lost the little diversification I had in my holding!
I'm actually a bit worried about this as Tron has yet to prove it is moving towards decentralization and censorship-resistance. At least there will be more resources available to push improvement and perhaps many of the problems will be tackled.
Thanks for sharing.
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wow, I wonder how all this will work ? Will we also get rewarded with Tron Token? Either way this is some exciting news
Awesome news!! I am sure this will only help Splinterlands as well!!
Also I do remember DLive.. I was actually the very first person to live stream on DLive when they launched at like 3am! I used to live stream VR on DLive all the time before the left Steemit.
https://steemit.com/dlive/@stealthtrader/8b7a4660-3ba1-11e8-8283-8f78150dfecd
Is it good though?
Time to sell steem?
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Forgive my ignorance but why does he make it sound like the steem blockchain is going to be discontinued. I thought it was just going to be steemit would run on both blockchains and perhaps atomic swaps
I mean surely Tron can't replicate the inflation and all that steem has become over the last few years a snapshot allocation for steem users seems like i'm getting a shit deal for my stake.
I dont want to jump the gun but I need more clarity on this one
Let's hope it takes longer than 13 weeks to implement, and at the end of 13 weeks, the price is at $5 or more. Win-win. ;)
Lol we can surely sell the news and with Justin theirs always more hot air to pump his shit coin! I’m keen for the AMA they know they going to get chowed and I hope steemins don’t hold back rip them new ones
Man, that message is confusing as hell. Plus Justin has been known to bail out of projects at the last minute, tho I guess either way being marketed by one a hype master wouldn't hurt
Do we need to powerdown our STEEMPOWER to get the new token? how we can do this it takes 13weeks?
RIP STEEM.
That explains why some TA future charts look so bad for STEEM.
STEEM Classic to be invented by community. 🚀
Steem Classic, I love the sound of that @aggroed ;) no pressure lol
Posted via Steemleo
I like to be excited about this news so excited it's gonna be.
Worrying has never made anyone feel better.
2020 sure is off to an interesting start.
I just wish that JS doesn't touch our wallets ;>)
Tron coins - I almost sold all of mine recently - are interesting too though.
Thanks for the info / update :>)
This is surely a big news that will create hype around Steem and will most likely push the price upwards in the coming days. Cheers!
Joke of the day..
Ahahah
Posted via Steemleo
I agree with all of the comments, this is not news because I can't so much as assess what the headline is exactly. Confounding Steem and Steemit is extremely annoying.
I'm not sure it is good for STEEM coins.
So witnesses and hodlers are just supposed to fall in line?
Yuuup. Or they could stay in line and we could FORK! Split. And hopefully not splat
Posted via Steemleo
Thanks for information!
My two cents about the news. Ned left Steemit, Justin Sun took over. No point speculating about tokens its a waste of time.
Except we own tokens so we like to speculate on things we own.
Posted via Steemleo
Steemit is joining TRON. That is such a big joke. I just hope Justin didn't pay much for this :P
Steem is much bigger than www.steemit.com which is just one interface to the steem blockchain. Read my post https://medium.com/@gokulnk/no-tron-didnt-buy-steem-blockchain-210beb71fbaf to know more.
Thanks for the information
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