Reflections: Justin Sun, TRON, and STEEM ... My $0.02 ...

in The LIFESTYLE LOUNGE5 years ago (edited)

"We interrupt our regularly scheduled programming" ... Given all that has happened over the last 2 to 3 days concerning momentous changes to our Steem blockchain, I would like to get some thoughts on it down. For those of my readers who might find them of interest ...

And ... As I have written before, serving as a "log" of sorts, for my own purposes, when the day comes when I may wish to look back on them.

I want to write specifically about the announcement on Friday that the Justin Sun-led blockchain company TRON has purchased SteemIt to "usher in a new era of decentralized social networking."

Source: Post on Cryptoslate saying "investors aren't enthused"

Source: Post on the Daily HODL saying "old Steem tokens will be converted to new Tron-base Steem tokens."

Over a long career, enjoying success in 5 different industries (and now retired ...), I have seen the results of the takeover / buyout of one organization by another a number of times. Some "up close and (very) personal" and others from more of a distance.

In each and every case
the initial projections of either
pending doom or
irrational euphoria
were
wrong!

During the initial phases of each one, a common element were people running around "with their hair on fire" and spouting off on this or that based on very, very limited information.

The "antidote" to this problem? What I asked for in my simple request to @justinsunsteemit in my comment:

"... there is a universal truth about our human nature! We do not handle communication voids well. In the absence of the requested good, clear and consistent communication, the resulting void will be filled. Quickly. And you can rest assured, it is very unlikely to be filled in a positive, constructive manner."

"I trust you will have @andrarchy and whoever else you assign this mission-critical responsibility working hard on this, at the outset of the day-to-day activities to bring the TRON and STEEM organizations together. Starting Monday. If not sooner ..."

What is the old saying, "... ask and you shall receive!"

Today, I was pleased to see this post from @exyle on his @blockbrothers Witness account (one of the very first I supported, after "jumping in" to our Steem blockchain in May 2018 ...) interviewing ... @andrarchy!

There are many highlights in this 3Speak video, but what I needed to hear was between 10:20 and 12:21:

  • "... maximize their investment ..."

    No business with any sense at all would do otherwise ...

  • "... connect the platforms in mutually beneficial ways ..."

    The foundation to good business, that I wrote about in one of my first Steem posts ...

This latter point was followed by Andrew talking about the token details which would tie both blockchains together, while preserving their independence!

With the best intentions in the world (hopefully), what will actually happen? Is there sufficient trust and good faith amongst all parties to achieve the best intentions? Who knows ...

What I am certain of is we'll all find out soon enough. And I will personally be focused much less on what is said, than what is done! If the actions line up with the words, great! We will have evidence of some integrity amongst the principals and that will be a very good indicator for a bright future, for all of us!

  • Note of Encouragement: Joining the chorus of many others emphasizing the importance of it, there has never been a more critical time for you to vote for your choice of the many Steem Witnesses from whom we have to chose. No one will frankly care much what we have to say. It will be the witnesses, who should represent us, that will make the difference. Chose well!!

________________________

Before closing, I can't let the work of one of the very talented people on our Steem blockchain, @geekgirl, go by without comment.

@geekgirl's post: "We asked for Moon, they gave us Sun"

I really admire creative talent I don't have. Like this meme and the cleverly worded captions in it. Great stuff! If you agree, please support her efforts!

Closing


While I could write a lot more on this topic, I will move on to more productive investments of my time. And when I next post, I'll be picking up where I left off on my "Back to Eden" Gardening series, from the peace and quiet of my own garden.

In the meantime, I’d love to hear any feedback you may be inspired to provide.

Until "next time," all the best to you for a better tomorrow, as we all work together to build up our Steem Communities and add increasing value to our Steem blockchain! 👍 😊

Respectfully,
Steemian @roleerob

Posted using SteemPeak and “immutably enshrined in the blockchain” on Monday, 17 February 2020!

________________________

P.S. Wow! At "press time" for this Steemian, we have SteemIt Inc "rolling out" their "close of business" Monday statements:

  • @andrarchy's "My Statement on Tron's Acquisition of Steemit" post

  • @vandeberg's "My Thoughts ..." post

  • @gerbino's "The future of Steem" post

    You'll probably (haven't read them yet myself ...) want to read what they have to say!

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SteemPeak: An awesome interface for our Steem blockchain.

Check it out!

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Well said brother. I’m cautiously optimistic about the potential of the partnership. It could lead to some great marketing and injection of resources for Steem. But I’m also powering down a little of my Steem just in case. It’s a good time to be in the crypto space. Hope you are well. :)

Up well before 🌄 (here) @nextgen622, interesting to learn, while you have some optimism, you are still powering down some SP.

The early impressions made on this Steemian by the combination of a decentralized blockchain and its resulting lack of any restraint on our uhhh ... "human condition" reinforced for me that I would not invest more than I am prepared to lose. We'll see soon enough what Mr. Sun truly has in mind with his latest acquisition. I'll go from there ...

Nice to hear from you, my brother. Thanks for stopping by!

Hello @roleerob, good night for you😉

I don't really understand the impact of the acquisition to my activity on steemit 😯 I have tron wallet because it's already has a co-operation with splinterlands about a year ago. I don't read any negative view from the witnesses I voted or people I follow. But many of other steemians who trade steem and tokens are confusing. I think..it's because im a dumb person when it comes to crypto and blocks 😂😂😂

I will wait how's your nano ledger works if steem goes to the sun😉

Up well before 🌄 (here) @cicisaja, interesting to learn from you that TRON already has a partnership with Splinterlands. Perhaps that gives you a greater peace of mind on this acquisition than others apparently have.

The early impressions made on me by our Steem blockchain reinforced for me that I would not invest more than I am prepared to lose. We'll see soon enough what Mr. Sun truly has in mind with his latest acquisition. I'll go from there ...

Nice to hear from you, my friend. Thanks for stopping by!


P.S. You're not a "dummy" by a long shot. 😉 I think the future of this type of technology must ultimately rest in applications which hide the technical complexities from the rest of us, who are not programmers ...

Hoping that all this is positive for our blockchain ..
Happy week dear friend and may God bless you and your family.

Good morning @blessed-girl. We will all find out soon enough what kind of a person and the organization surrounding him has just purchased the largest single block of SP which exists. If there is any benevolent aspect to it of any kind, which is our hope, he will take steps which not only increase its value, but the value of the stake of the rest of us along the way. We'll see!

Buen día amigo :)

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Hi @roleerob

I wonder what's your view on that issue today - over 7 days since your post? Are you more worried or optimistic?

Yours, Piotr

Hi @crypto.piotr,

While I understand the rationale behind it, I am not a fan of softfork 22.2. If you or I had invested millions of $$s into something, which was subsequently threatened by actions taken against it, what would your reaction be? Favorable?

I am neither worried or optimistic, but realistic, IMHO. These recent events just underscore for me the challenge facing blockchain technology - dealing with human nature, in all of its uhhh "glory" ...

Mr. Sun might have saved himself from some of this, had he been more prudent in how he chose to handle effective communications. He wasn't. As a 29-year old, in my view he made a major mistake. Trust, which is always fragile, was broken ...

What has he learned from it and, more importantly, what has he chosen to do about it? This will presumably be the single most "talked" about topic on our Steem blockchain for days and weeks to come ...

We'll see!

I just realized that I never actually thanked you for your comment. Big thx.
Cheers, Piotr