RE: I guess I have to talk about the Tron thing? by yabapmatt

View this thread on: hive.blog | peakd.com | ecency.com

Viewing a response to: @edicted/i-guess-i-have-to-talk-about-the-tron-thing

hive-167922 · @yabapmatt · Feb 14 '20

$1.00

> Steem 100% migrates to Tron and our blockchain is left derelict.

This is what I think will be happening.

> I don't see a reality of how this can happen...You can't just plop all the Steem code on Tron and expect it to work.

You can't just "plop" it, but you can build it. They said very clearly in the announcement that: 

> TRON and Steemit’s development teams will immediately begin working together to bring Steemit and other Steem blockchain based DApps to TRON blockchain.

So they make a new token on Tron called "STEEM", and they work with the Steem core developers who now work for them to rebuild the Steem posting and voting system as smart contracts on the Tron chain.

> It makes a lot more sense for this whole "token migration" business to be a two-way street that goes in both directions permanently.

No, it doesn't. Justin Sun wants to take Steem and make it part of Tron.

👍 therealwolf, edicted, bryan-imhoff, donald.porter, practicalthought, cardboard, freddio, reverendrum, op0

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@dobartim · Feb 14 '20

$0.03

Awesome news for all investors

👍 hamletnow

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@edicted · Feb 14 '20

good... luck?

I mean obviously if you're worried then I am also concerned. 

I personally can't envision exactly how this worst-case-scenario plays out.  A highly successful hostile takeover seems unlikely somehow, with almost the guarantee of some kind of fork. No?

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@bryan-imhoff · Feb 14 '20

$0.76

How I visualize the worst case...

Converting tokens actually requires a swap. Users give their Steem in exchange for “TronSteem.” This is of course voluntary, but with every user who makes the switch *(and many will, to follow dApps that are lured over, fear of being left behind on a chain with no formal development team, etc.)* Tron’s governance stake in the original Steem blockchain grows. 

Unless a large majority of Steem stakeholders refuse to switch, Tron both builds “Steem 2.0” on their chain, and simultaneously assumes full centralized governance control over “Steem 1.0.”

I can foresee a Steemian community that wants to remain independent forking... but we would be the forked branch, not the original. That means a new token, no exchange listings, liquidity, or value to start... I honestly don’t know if that branch survives.

This is *all* speculation, I’ll be eager to hear conversion details tomorrow.

👍 tipu, donald.porter, cardboard

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@cardboard · Feb 15 '20 (edited)

$0.04

Ouch... when the worst scenario is the one most likely to happen :/ But what about steem power? You can't swap those (without power down). But what about steem power? You can't swap those (without power down).

👍 bryan-imhoff

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1 reply

@freddio · Feb 14 '20

you are in for Steem 2.0 fork like Steem classic?

With SMT and Communities without Steemit inc?

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@freebornangel · Feb 15 '20

Sounds like the next hardfork will have more than just smteees!

As long as the witnesses keep running what we have nothing changes.

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@lordbutterfly · Feb 15 '20

Could you guys fork out Steemit.inc before Justin takes control of the stake and votes in his witnesses?

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