Did Justin just? That's kind of catchy.
It seems like a lot of things went down within days at the same time and to me, it feels a bit too coincidental to let it just a bunch of random activity completely unrelated to one and another.
Seeing how Justin has been acting out, his attitude is always to win. No matter what actions he needs to take. I don't see it too far off that he will do whatever it takes to crush the competitions and let us be real, we kind of made hive a direct competition both against him and his pride. With this, we saw revengeful acts as expected.
However, I am surprised how far Justin decided to go with this though and it leaves such a sour taste in my mouth to think how many people got in trouble with his reckless actions.
Before we move on this is mostly just based on my own speculation, so don't take it as a fact-sheet, please. Luckily I am indeed allowed to share my own opinion on this blockchain
So why am I calling this a coordinated attack? let us break down all the events:
1. Pumping Steem
As Hive slowly climbed over steem in price it was clear Justins spot-free honor was at stake. If anyone believes that a normal person would buy any steem after all of this bad reputation Justin managed to give steem, then I would like to give you a reality check, and that is looking from a buyers perspective: Steem is a dieing, centralized blockchain with a person in the top who clearly is not to be either trusted or predicted. Even with his censoring, any person would see this.
Nobody is buying steem, nobody but Justin and whatever connections he has who are gonna manipulate the coin to the end of the world. That is why we saw a huge spike recently in steem(that's falling slowly again now). All that was, was an attempt to get above the price of hive(at that time was 19cents, vs steem's 14cents).
Justin wants to show his steem is the winner here, so of course, nothing stopped him to go further all in the name of his ego.
2. Dumping Hive.
I think everyone would expect a dump in hive coins, many people brought into steem before the hard-fork just to get free coins, of course, those people are selling, fair game. But doesn't it seem peculiar that hive really just dives with 40%- within hours?
Coincidentally just as steem pumps?
I believe this was really to create a large space between them and hive. Some people say there's gonna be more dumping on the way but actually I think the otherwise and here is why:
Someone brought shit tons of steem before the hard fork, that was clear on the price where steem were flying to over 200% almost. I bet you that steem never powered up, and I bet you even more than many of those brought coins were just sold, a coordinated sell to really drive down the hive price.
Now the pump of steem and the dumb of hive isolated might not look too far off reality. But here comes the biggest part:
3. Freezing major steem account
Through an absolutely awful excuse, Justin with his mouth full of salvia found some of the bigger accounts on Steem and said;
Yeah, you are not going anywhere with that fortune.
Millions upon millions of steem that most likely would over the next couple of weeks be sold either to something else or even more likely into Hive now sits there, unusable for the only reason that Justin wants to see the price of steem go up and Hive down. He doesn't care about who the accounts voted for in the past, he doesn't care about the steem blockchain, he cares about profit and pride.
Freezing these accounts is a kind of Justins way to stop a leakage with gaffa tape. It might stop the water for a while but eventually, the water will pour through again. (Yeah, I also suck at metaphors.
So from pumping Steem, dumping hive and make sure some of the wealthy people cannot sell any steem or buy any hive, make a pretty well-coordinated attack to get ahead in the race.
At least for the short-term perspective, but the finish line is far away.
Justin and steem are gonna go down. Nobody in their right mind would want to have a stake laying there when he freezes personal accounts and puts lie after lie out there. Even people who don't care about decentralization and just sees profit and investment are not gonna touch steem even with gloves us.
His actions are so short-sighted it hurts my eyes. the temporary pump of steem will quickly reverse. The dumb of hive will fall into stronger hands. People will sell more steem for hive, especially those who got their funds frozen(and trust me, they will get it back, that is why Justin made it a soft-fork and not a hard-fork, he knows they will be coming for it).
Justin is doing us all a favor, more hive per steem is always appreciated, let us be the ones profiting from his actions.
At these prices, I am going directly to get hive for all my steem until prices reverse. If things stay like it is for another 10weeks and I sell my remaining 42k steem at these compared prices I will have over 100k Hive!
Don't panic guys, as times goes we will slowly move away from Justin and his steem.
Until then:
Source
THIS!!!
Exactly my thoughts man, exactly my thoughts... I think for Justin, this whole thing has long been more about his ego and vanity rather than actual profit or anything else. He is like a little stubborn kid who doesn´t want to lose and do all the dirty tricks and cons not to lose but exactly as you mentioned, it´s just so ridiculously short sighted :D The whole crypto world already know for a long time that current Steem = one entity and that is our filthy little Justin and nobody else is ever going to support or buy this coin anymore. I am 100% convinced it´s only a matter of time before Hive starts to beat Steem really hard on every single level possible. By that time, let´s get even more Hive for this bargain price ;)
I agree brother, it's absurd how far he went with this. A sour looser I'm calling it. (probably he haven't realized he lost yet) lol
Justin sun is another one of these crypto millionaire kids who has no idea what he's doing but got really lucky. Now he thinks he is a genius businessman because has a following of people who drool over those who have wealth.
Yeah, I agree. As one saying goes: "This Sun is not very bright." It´s just lucky :)
Obviously he's dumping whatever HIVE he was airdropped to his secret accounts he had on Steem prior to the fork. He's propping up STEEM by defending 17 cents while selling HIVE on the cheap. That's costing him money. There is no free lunch. Bring it on, Justin. At the end of the day, he will have left everyone on Steem with a foul taste. The chain will die.
"The chain will die."
It´s already dying ;)
It's already an empty graveyard, haha
Yeah, I resonate with this totally. I'm still a little sickened for those folks Justin is screwing over who are really just trying to get their funds off STEEM and transition to a better chain. I really hope Justin pays for what he's done. But my focus is primarily here on HIVE.
I decided yesterday not to wait for my STEEM to power down. I'm just going to go ahead and buy the equivalent amount of HIVE at these depressed prices using BTC, then replace the BTC with sold STEEM after the powerdown completes.
I actually thought of buying as well but I thought I have enough Hive already! So just gonna change all my steem for now! :-)
Pablo's report tell us who's powering up but not necessarily whos buying. He's still doing them for STEEM despite them censoring his posts. I did well from yesterday's dump and got myself almost 10k HIVE.
Since then it has got even lower, not good.
I'm also about to change 4k steem into Hive now! Good times!
Justin sun don't know himself what actually he wants to do with steem, just taking steps some irriatating and childishly.
Kind of relieve post because I was thinking that if Justin continues to pump steem and cause hive to fall. Then when will it ends
Noone knows when it ends. Guess we just have to hold on
the pump and dump will likely to continue for some time now lets see and grab this opportunity :)
Whatever happens to the Hive price is now down to him I guess...
It almost certainly is coordinated.
One wonders how long he can go subbing Steem for.
The marketcap of Tron is $887 million. Of course, he couldn't cash out but a small fraction of that. He probable has some millions or tens of millions in the bank. The cheaper the crypto market as a whole the longer he can continue. His pockets will be empty quickly come bull market, though.
I guess it is, hopefully he will run out of schemes eventually
I hope so, it's really quite immature and very sad.
I really just want these chains to go their separate ways!
Yep... you said it all. Justin's ego has helped me go from dolphin to orca in 3 weeks.
Let him pump steem with his own money while others dump hive. When most of the liquid hive is powered up in our accounts what is left on the exchanges will sell at a premium. Meanwhile steem will die a slow death. Or continue as a censored east Asian only site.