A couple warning signs for me (didn't listen to the talk).
What is meant by a token swap? Can they force such a thing?
Steemit owns the wallets, which means Justin does now. What are the implications?
Not sitting right with me, but I'm in with house money at this point (got out my investment and put it into Cardano), but still thinking of powering down as well.
A token swap would mean that Tron would give us their version of their new Tron-Steem token, to use on their platform, and to let the original Steem token fade away. It may be a 1:1 swap, or a multiplier. I have no idea at this point, although if Steem forks in light of this, the Steem token may live on in an active blockchain.
The consensus for the token swap would be Steem losing any monetary value, as he would be merging them and has the money to get the exchanges to recognize his new token as the official Steem token. The forked token wouldn't be recognized, much like the other types of forks that have occurred with Steem, from what I've been reading.
What I don't understand is why he would buy Steemit and merge the idea into his chain. Seems that by doing away with the Steem system, it would've been easier just to create his own on his chain from scratch, as I'm sure there are many like myself who have no desire to be on the Tron blockchain. Seems this will create more ill will towards him than already seems to exist in the cryptosphere. Although his back and forth on saying swap, then not swap, then swap a few hours later again seems to indicate he doesn't really mind ill will, lol.
So much is in the air now that I'm just going to control what I can... powering down some to reduce my locked up exposure. My first power down set is available in a few hours, so it's new terrain for me, but I prefer to protect what little I have here in Steem by at least having it liquid - or trading it out. I can always earn more here on Steemit if the chain lives on, or like you, won't have much interest in hanging out on Tron's new spin-off outside of earning no-risk crypto to trade out.