There is a lot to digest with the latest hardfork happening on the Steem blockchain, expect a lot of volatility in the coming hours to days. As with everything in life, money would play a great part as to who stands at the end of the day. I like the idea of decentralization but also recognize its only a dream if the community isn't financially equipped to the support the chain. Its a bold move from the Hive developers but it also comes with risk, of which I would highlight below. On the technical side of things, I am confident in the abilities of the Hive team to keep the chain going given the experience they would have gain from running the Steem blockchain over the years. My major concern has to do primarily with the financial aspect of their plan, is this something they can sustain over a long period of time. They would have to keep a community happy and support developers, much of which would be determine base off the price of Hive token. One of the positive coming from this hardfork is the amount of prominent exchanges that is supporting this fork, however, the cloud of being listed on those exchanges still lingers.
The Steem blockchain has the comfort of finally being financially solid and Justin Sun has all the experience to pull this off and turn this into a huge success, however, much of this would be determine base on the community that is left behind. There obvious would be some selling pressure coming from the Hive developers who would sell their tokens to support Hive chain but this theoretically could span out a 13 week period. Likewise, some within the Steem blockchain would claim their Hive token and subsequently dump on the exchange. We could end up with a situation similar to Bitcoin and Bitcoin Cash that happen during their fork. Steem could move violently higher as a lot of selling pressure would shift away from the chain but also could fall if the community loses faith. The Hive developers especially the Hive witnesses must be able to absorb pain (financial loss) for up to six months because what happen on the Steem blockchain before Justin Sun took over cannot happen on the Hive blockchain. That would result in quick death of the chain as liquidity and selling pressure would drive the community back to the Steem blockchain.
As to the token price of Steem, SBD, Hive and Hive Dollars(Hive dollars, if its in their development) expect a lot of volatility as it would present great opportunity. Given the supply mechanics of Steem dollars and Hive dollars, this could jump crazy so be extra careful but there would be money to be made.
I am pretty neutral, as the title suggest much of where I go from here would be determine base on the price. I have rallied and continue to support Steem but if Hive presents an opportunity I would definitely look into it. If Hive is what Steem basically was over the last 2 years, I won't waste my time. I wish all parties involved all the best.
Wake up. Justin Sun never had any intention to help Steem thrive and never will. All he wanted was to dismantle it and move the apps and users over to Tron. This is what he clearly announced to the world right after the acquisition of Steemit, Inc. He got Steemit Inc’s stake at a basement bargain price. All he wants now is to dump it on unsuspecting buyers.
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You trade base on your speculation, that's your right
I am neutral on both parties, what i know for sure, it can't be business as usual for Hive team as what took place on Steem. The exchanges are about money, if there is money to be made, they gonna list it. Once they see, Hive does not have that kind of financial support as soon as the books dry up on the buy side, they delist it.
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You voted for Justin’s sock puppets.
Steem and Hive cost almost nothing to run. High token price didn’t bring about mass adoption even when the price was incredibly high. Fuck the exchanges, fuck speculation. Grassroots adoption, community and the core value of decentralization and censorship resistance are everything.
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I voted for witnesses from both camps. I am neutral. I have been here for over 3 years, seen many come and go. At the end of the day, people self-interest always run into confusion to that of the community. If you think the flags and the "who powering down" was bad on Steem, wait until you get on a chain where finances become an issue.
For your info, there been about 10 noble Steem clones, usually 6 months is their period and then it folds, when witnesses have to pay bills and developers need to take care of their expenses its going to be a nightmare. No one from Hive has put a financial plan in place, decentralization and the ethos of it only sounds good until you have your own self-interest to take care of.
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I don't.
I know there have been and still are several Steem forks.
Did you know that after MIRA it costs about $20 a month to run a full node? That's a frickin' cable subscription. The network effect of the current user base and all the apps, some of which people pay money to use (Splinterlands) is worth vastly more than that.
All the forks you're talking about were created years ago. The core community was always on Steem. Now Steem will die because everyone, including the largest stakeholder, Justin Sun will dump it. See you on Hive.
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one of the few posts I read recently that I agree with and that's exactly what I think!
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