Steem - Justin Sun just wants to make some money?steemCreated with Sketch.

in Funny7 months ago

Perhaps we can come to some sort of a win-win after all

Listening to the conversation between Justin Sun and the Witnesses it sounds like Mr. Sun just wants to make some money...

As of right now I am only half way through it, but that is my opinion of things thus far.

Here's the recording of their conversation if you'd like to listen along:

In my opinion him making money as well as everyone else making money should be something we can come to some sort of agreement on.

A win-win of sorts.

Unless of course we are dealing with Dwight, which he aren't, hopefully...

(Source: http://www.quickmeme.com/meme/3fwe)

Like I said, it sounds like Justin mostly just wants to make money off of his investment, which hopefully is something we can work with.

Stay informed my friends.

-Doc

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He wants to make money, but look how he is doing it. He's attacking his own investment. This is a 51% attack. He's calling our witnesses and consensus itself a hack. He's used investor funds to vote in his own puppet witnesses and unlock 70 million coins and fully centralized the chain. We are extremely vulnerable now.

He has no idea what he is doing, and it's very concerning. I would take any deal to get this stake refrozen to secure the chain. I don't see how that's going to happen.

There is a language barrier and I wouldn't get too hung up on the exact wording used. It seems very clear that he is just responding to the hostility that has been shown to him by freezing something he just paid $10 million for. He is only voting his people in to keep control of his stake that he just purchased. At this point it is looking like if the hostility keeps up, he is just going to dump the coins on the open market and steem be damned.

I'm not looking at any of the wording. Actions speak louder, and these actions are the worst ones possible. Worse than what we thought was possible (because of the exchange betrayal).

To me it just looks like just about everything we have seen is simply in response to having his funds locked.

Agreed! I tried explaining this to as many witnesses as possible before the softfork went thru. No one listened. Wouldn't you be pissed if 10 million dollars of your new company were frozen? I know I would be and I would definitely make an example of people who did it, regardless of the costs. We forced his hand and he had to do a show of force. This was terrible for not only steemians and tron but also for all centralized exchanges, this will change a lot of things in the crypto world.

Yep, and that very likely caused all of this mess.

Justin Sun should sell his Steem Stake in an auction so that new investors can come in who really care about the Steem Tech and community.

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That is actually a really good idea. My guess is that he would want at least $10 million (or whatever he paid). Any ideas for buyers?

So what else did you think investors are usually wanting?

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Well, there was some fear that perhaps he wanted to take out a competitor, or cannibalize steem in tron, etc. Sun made it clear he just wants to make money here.

Ok, I see what you mean. From that perspective it sounds much better.

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when was the meeting?

I believe it was last night or early this morning, depending on what part of the world you are in.

Mr Tron can make money, all he has to do is sell is steemit STEEM for 1¢ each.
i am sure at that level he can sell all that STEEM.

Else he has to increase the value of STEEM
and slowly sell his STEEM as the market is able to support it.

However, STEEM has no viable economic model.
Never has.

Agreed. I was hoping he could help change that but he's been villainized from the get go instead of really seeing if he could help in a positive way.

He's got to pay for that huge waste of dough buying lunch with Buffet.

Tron Foundation paid for that I believe, and it was donated to charity... which means... Tax write off.

And the PR he got from it was worth a shit load he gets bag holders excited with shit like that and it puts him in a room with powerful connections

Have not seen or done the math on the value of ninja mined hordes. My guess is that Mr. Sun could have sold half of STINC's horde to get his investment returned as of the day of he and @ned's AMA.

It was shortly after that when all hell broke loose and one would need a lucrative patreon account to have the time to keep up with it all. 😎

It takes 13 weeks to power down. Therefore, they had to wait at least 7 weeks and power down the whole amount to get half in 7 weeks. Powering down the whole stake itself can create a panic.

Moreover, argument was mainly that STINC ninja mined stake was for Steem's development not @ned's own property but he sold it as his own property. It means that @ned has sold a stolen property. If witnesses, able to get top 17 witnesses in t20 then they can lock the STINC's stake and force JS to deal with @ned.

However, current witnesses position is a lock down situation: 7 from the community and 13 from the JS. If everybody make some compromise, JS will market and develop Steem, Steem's price will increase, JS can sell his stake slowly and get out. Future developments can solely done by the community developers funded by the SPS. Even SPS can be increased from current 10% to 15-20%.

The main culprit is @ned. He drowned a blockchain from rank 3 to almost out of 100. Investors bought millions of Steem on promise that STINC's fund will be used for development not for personal gain.

However, witnesses and community can pursue both JS and @ned, but it will not bring a positive outcome either. The best win-win situation would be let pump Steem for JS's own sake and let him sell out to make it widely distributed. Future developments will be funded by SPS and there will be no big stake holder who will be able to control all the witnesses or control blockchain. At the end, decentralization wins!

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Except it would have tanked the price very quickly so he wouldn't have been able to get anything near the current market prices...

So basically, there won't be money for development. We'll have to come up with some tool to allow steem-users to earn money by improving the steem blockchain. Should be similar to what SPS is.

Except that is mostly going to witnesses and their projects... well previous witnesses anyways. Though I would hope that could be used to pay for SMT development or some other actual blockchain development.

Yes of course... their projects... But the most important project which is the core blockchain was responsible of Steemit INC. So we'll need to come up with a solution to this. I hope @roadscape, @vandeberg and @gerbino help with the transition.

If they don't, I don't have high hopes going forward. Hopefully they figure out a way to take their jobs again.

I have listened to this recording and it's sad to say but it seems like the steemians (witnesses) are much more hostile than Justin Sun, it really disgusts me! I am sad that I ever supported some of these asshole witnesses with a vote. Not only that, they are expecting him to hold up a bargain he didn't make (and possibly didn't even know about). Once again, people should still be mad at @ned, not at Justin Sun. He probably would've of been a better owner than @ned, but now we will never know for sure cuz he doesn't want anything to do with steemit anymore, and I honestly don't blame him. However, I do blame the witnesses tho. The witnesses continue a hostile environment throughout the entire video and that surely doesn't create good business relationships and I only hear Justin Sun being reasonable, even after the witnesses drew first blood. They started this war, bottom line. And if the chain falls apart it will be completely their fault from these aggressive actions. Just one crazy hippies opinion.

Some of the people on that call have no business being on a negotiation call with Justin Sun and Tron ever again. They were a very poor representation of the steem community and were way too hostile and aggressive to get anything of value done. Not all on the call, but some.

Agreed. Thanks for sharing this video friend. You deserve a !BEER :0)

Justin Sun is a lot like Donald Trump... Notorious business man who knows how to run a business, but doesn't know how to talk with common people.

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