An old fox may lose its hair

in Dutchland7 months ago

But it will keep its foxiness.

A take on what the goal might be behind the actions invoked by mister Sun Y.

First impression matters.

Many seem to have missed the first set of threats made towards the Steem Community as done by mister Sun Y. and his Tron Foundation. To summarize it: "Steem will be moved to the Tron blockchain." First impression very bad, using those kind of announcements. They set off my alarmbel and it seemed I was not the only one. Some were deaf and blind to those threats. Maybe they saw mountains of gold, no reasoning possible there. Luckily a large amount of Steemians did see we were/ are under attack by a hostile external entity. So our own Steem Community Witnesses moved back in. Thanks to the large amount of supporting Steem Community members doing the right thing, taking the side of the Steem Blockchain and its Community. One does not make a (business) deal with evil, ever. No talks, no negotiations, nothing, nada, njente! That summarizes my take on it.

Are you still here? Okay, because here is what, I think, is likely going to happen. Sun Y. is going to control a lot of Steem, as are his collaborators in this hostile take-over attack. Is he going to sell the Steem that he gets his hands on? Forget it, try to dump 70+ million Steem on the market, that is crazy. And though he seems to have a somewhat bipolar personality, he still can be quite smart. Do not mistake his rants for just some dumb chit chat, it is all tactics. Just repeat lies loud and often enough and a lot of people will just swallow it down for the truth, hailing their new 'leader' (A part olf a large sub-community has proven they did fall for it.) All tyranny is build on that principle. But hey, we are voluntarists, smart substantive thinkers, well most of us Steemians, I guess. Some might not have understood right away where the temporary soft-fork was ment for, but they'll get it sooner or later. It was temporary, as it was stated by our elected Steem Community Witnesses. But maybe it was ignorant to do just a temporary soft-fork... Time will tell.

What is going to happen?

Well, mister Sun Y. already told the (crypto) world what he is planning to do, right from the start. He is not going to sell the Steem he purchased through buying SteemIt Incorporated. But what could he do? Well, he already told us, from the beginning. Remember the Bitcoin forking blockchain splits? Some (centralized) exchanges held futures for that, which could be traded, even before the actual splits took place. Setting a nice price up front... Market manipulation? Well, some would call it 'just' business, like some do here on the Steem blockchain. Many others do not, as the massive amount of votes for the Steem Community Witnesses has proven. Does it matter? No, it does not, as mister Sun Y. and his collaborating accounts will offer a Token Swap as soon as the Power Down {PD} has been completed. As the Steem Community still holds ground that would take 13 weeks, but for mister Sun Y. that is way too long. So he wants to speed up the Power Down {PD} time drastically, for the planned Token Swap and to help the collaborating exchanges get the Steem of their clients back. The attackers did not expect the Steem Community to step up like that though. So he got angry...

But why a Token Swap, old-Steem (Steem Blockchain) for new-Steem (Tron blockchain)? Well, a large part will be handed out to the TRON (TRX) Token holders. And there probably will be issued a lot more of those new-Steem Tokens. Plus there will be a use for them. A new kind of SteemIt (TronIt?), but now connected to the Tron blockchain. Tron as a blockchain seems pretty useless so far, so it had to add some interesting dApps to it. Like Dlive for instance, that had its own blockchain. After draining some Steem out of ou blockchain, as you probably may remember. But now their own Lino blockchain is going to end and Dlive will move over to the Tron Blockchain. More interesting even to add would be a social media and application platform like Steem, with a very active involved community. Imagine adding that to the Tron Network, have it live on the Tron Blockchain. That would sure make the Tron {TRX} Token a lot more attractive. (Guess who owns a lot of TRX?) It is all about making a fairly uninteresting Tron Blockchain more valuable, by adding dApps to it that will gain a lot of attraction. And thus create a growing interest by the Crypto Market. 'New-Steem' would add a lot of value to the Tron Blockchain. At least, that seems to be the goal.

Time though...

In Korea these hostile 'business' take-overs are known as 'eat and run' {KR: 먹고 달리다}. And maybe Sun Y. could have gotten away with it, if there had not been a Steem Community that took charge and prevented it from happening. He was not even able to take a little nibble. That seemed to piss him off. And so he asked his collaborators in this whole scheme to help him, using their customers funds. And all of a sudden these smart business people seemed to have been dumbed down overnight. Or they have stupid people working for them, who should be sacked right away. But it could all be a part of the plan. Move Steem out off the Steem Blockchain, to the accounts of the collaborating exchanges (mark their names) and make the Token Swap happen. My guess is that it is about that, as everything seems to point towards that kind of execution. It is not the Steem blockchain mister Sun Y. wants, it is the Steem that is locked inside to become liquid. So a Token swap can be done, using the collaborating (centralized) exchanges. And then the question comes, who has some major TRX stake in the Tron blockchain? Well, is that really so hard to guess...!?

The stall that is happening right now for mister Sun Y. and the collaborating (centralized) exchanges, does kind of piss them off. Especially now the whole (crypto) world is watching them up closely. All kinds of lame excuses have been made by them, but it does not change the fact that they abused their clients their Steem to try and take governance over the Steem Blockchain. What will the response be of the (crypto) world if those exchanges would support a hostile take-over Token Swap on their platforms? That was not how it was supposed to go, right mister Sun Y.? Mister Scott N., maybe he can move into a Tron supporting position, or maybe he already has (Seems like it, as he is promoting a Veto right to be added to the Steem blockchain.) None of our business? Well if he only had kept an open dialogue with the Steem Community, things might have been going rough, but he might have been granted to take a lot of Steem out. My guess would have been about 75%, from the SteemIt account. Like a golden farewell handshake. Probably some would have opposed that, but it would have been worth it. None of that though, we are now in an impasse. But, no deal with mister Sun Y. No faster Power Down, but 13 weeks for him and his collaborators. Just like all the others.

No talks, no deals with evil.

It will be hard to stop mister Sun Y., his collaborators and mister Scott N. from what they have planned. Steem will split, with the idea that 'our' blockchain will die out, because it will not get supported by the collaborating centralized exchanges. First a PD {Power Down} moving VESTS right away to the collaborating exchanges, without re-staking it of course (Draining the SteemIt Incorporated controlled accounts.) Then there will be a Token Swap followed by a de-listing the 'old' Steem Token, that means the current one. And then the claim will be made that the market decided that 'new' Steem is the only one to support. Of course that is manipulated, but who could stop that from happening? So, Sun Y. then expects the original Steem Blockchain to die out, so it seems. This is how it is done with Dlive and its Lino Blockchain at the moment. And of course he may expect most of the current Steemians to move over. Which would be a tough but merely economical choice to make, I do understand that and respect it. You see, it is like a game of Chess. And mister Sun Y. and his collaborators think their strategy is a guaranteed 'check-mate'. Only the game is taking them longer than it was expected. It was such a cunning plan, of those sly foxes. But then the honey-badger (Steem Community) showed some guts...

Now, I really do expect this to happen. And if more Steemians are going to vote for those zombie 'witnesses' then the needed hard-fork for the fast Power Down {PD} will become activated. And it will be selective for some accounts, even putting in some VETO rights for the SteemIt Inc. / mister Sun Y. controlled ones. Governance on the Tron Blockchain will be controlled by large TRX {Tron Token} holders. And those who have a lot of TRX will get a large part of the 'new' Steem airdrop. Who owns the most TRX? Hm, again, a very tough question. Oh, there will be a lot more 'new' Steem than there was 'old' Steem. My guess is billions of them, could be like tenfold perhaps. A total of 5 billion 'new' Steem, that is also the weak spot. Suppose 'old' Steem keeps it at a maximum of 500 million and it keeps its blockchain going as a Community driven one, that the price of 'new' Steem could become as worthless as one TRX! Or even less, so in Market Capacity, 'old' Steem would pass the 'new' crappy one easily. The swapped Tokens could get burned, so 'old' Steem would become more scars than 'new' Steem. Even better, especially when the Smart Media Tokens {SMT} get launched. Smart Contracts next? Why not? But I do not think that a scenario like this can be prevented, not even through a hard-fork. So, if a split is probably inevitable, then why not make it a solid rock hard forkening, honey badger style...?

It was great while it lasted?

That feels like the sad part. Somehow these events seem like they are going to happen, backed by a lot of banksters money, in a time of a worldwide economical crash. And I expect many Steemians to become Tronians, but no hard feelings. As I can understand that many cannot afford to lose what they have build up on the Steem blockchain. Honestly, I do get that. You move to where ever there is work and thus pay. It will split our community though and that is the saddest part, I think. Again, do what you have to do, nobody else can decide that for you. We need money, the banksters (sounds like gangsters) version that is, unfortunately, to get by in this thing called life. Therefore sometimes tough, unpleasant, choices have to be made, I do absolutely understand that, like most of us in the Steem Community. My choice is already made, I stay here. And if this ship goes down, I will go down with it. It does not have to be like that.

Maybe we are the living proof of that what does not kill us will only make us stronger. The near very future will tell. What to do now? That is up to every single one of us to decide. Maybe I am wrong, maybe I am right. As stated, I understand if many will choose to go where they think their investment is safe. Steem wise one might state there is a lot at stake. And then there is also this worldwide panic that struck recently, so I am thinking about investing in toilet paper. Hard to tell where all this mass hysteria will take us. And if Crypto-Currencies will be the safe haven it was claimed to be, so far I am not convinced.

Whatever happens, happens, concerning Steem and everything else. Wish you and those dear to you all the best.

Stay cool in mind and be safe in body.


Things are not always what they appear to be.
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Image CC0 licensed, courtesy of Isabella Aquintana

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