The History of STEEM!
Once upon a time, in the land of cryptocurrency, there was a platform called Steemit.com. This platform was built on a blockchain called STEEM, and it allowed users to earn rewards in the form of STEEM tokens for creating and curating content.
Many people saw the potential in STEEM and began to invest in it, hoping that the value of the token would increase over time. Some even quit their jobs to focus on creating and curating content on Steemit full-time, earning a steady income in STEEM.
As the platform grew and more people joined, the value of STEEM began to rise. People who had invested in the token early on saw their investment grow exponentially, and they became known as "STEEM whales" for the huge amount of tokens they held.
But not everyone was convinced that STEEM was worth anything. Critics pointed out that the value of the token was highly volatile, and that it was often subject to market manipulation by the STEEM whales. They argued that the rewards system on Steemit was also flawed, and that a small group of users were able to earn the majority of the rewards.
Despite these criticisms, many people continued to believe in the potential of STEEM and the Steemit platform. They saw it as a way to earn a passive income by creating and sharing content, and they were willing to take the risk of investing in the token.
Then one day the CEO of Tron, Justin Sun, bought the Steemit blogging platform, and in February 2020, took over the Steem blockchain itself, causing the chain to irreversibly split in two, giving birth to it's descendant HIVE!
As time passed, the value of STEEM fluctuated, sometimes reaching new highs and other times plummeting to lows. Some people lost faith and sold their tokens, but others held on, convinced that the value would eventually rise again.
In the end, only time will tell whether STEEM will ever be worth anything. Some people believe that the platform and its underlying blockchain technology have the potential to revolutionize the way we create and consume content online. Others remain skeptical, and believe that STEEM is just another example of the hype and volatility that plagues the world of cryptocurrency.
Hi @coininstant
I know that this is very popular myth that is being spread around. But if anyone would dig deeper , then "truth" would shock him/her.
Building HIVE took months of coding and testing. And I found out that team behind HIVE blockchain has been working on it of several months before Justin even appeared in the picture. So trying to blame Justin Sun for causing this fork is far from truth. So very far.
How can you explain it? How is it that HIVE have been already beta-tested and ready to go public by the time Justin Sun purchased Steemit? I would like to hear
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good point, I hadn't heard that myth. The only reason I can think of is that if I recall steemit had just gotten out of beta, and hive hard forked the steem and beta tested version of steemit, so all they had to do was use a text editor to replace all instances of steem with HIVE and a few other things to hard fork and clone the new platform.
Honestly I don't know, maybe it was their plan all along, maybe it was like a back up plan because they understood the vulnerability and realized that it would only be a matter of time. Also some of the steem whales probably were in talks with dan, and they knew he was going to sell, so they got to work on plan B HIVE! haha Thanks for the interesting comment.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
thx @coininstant for taking the time to reply to my previous comment
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit