Motivation...
Since I have seen lots of repeated questioning out there (comments, discord, etc) and attempting to not get the head of @ats-david cracked up in half, I have decided to help clear some confusions if I can.
Therefore I am throwing this post (which will probably get edited multiple times), to share some Q&A about what people perceive about the recently announcement from the next Hard Fork of STEEM, called "The Hive!", aka HIVE. Basically the attempt to continue decentralization of MANY things.
So, lets begin right away!
FAQ (being updated via comments and others)
I will be updating this section with questions/answers I see around... Also check Hive Discord.
- What will happen to all my posts, comments, SBD/STEEM (liquid, savings and PoweredUP), etc?
Answer: It will all be mapped into the HIVE blockchain. Nothing will change, except that STEEM will be called HIVE form then on. This assumes you have switched to the HIVE blockchain of course. - What do I need to do to BEEEEEE in the HIVE blockchain?
Answer: Hopefully nothing. If most of the dapps migrate as well (very likely), you will feel a smooth migration and notice nothing. But if that also concerns you, then be knowledgeable that most dapps already allow you to point to specific RPC nodes, which are basically gateways to the blockchain. Hence, if you point for example @esteemapp to STEEM, you post into STEEM. If you point to HIVE, you post on there. But if you used a web front-end like https://steemit.com, then now, just use https://hive.blog instead. - If I sell all my STEEM now, will I get an account?
Answer: Yes, you will still have an account on the HIVE blockchain, but you will have the same exact tokens there that you had on STEEM at the snapshot time. - What happens to Steem Engine tokens?
Answer: "Steem Engine" is considered middle layer (between the Blockchain, like currently STEEM blocks get produced by #witnesses and the Front-end, like https://hive.blog, https://steempeak.com or https://busy.org), therefore, if they decide to migrate (most likely), it's going to be on their honor to reflect things on the new HIVE chain. Basically speaking, everything will be the same for you. - After the snapshot, can I sell STEEM?
Answer: If you are able too, yes. But be mindful that if 99% of all dapps and middle-layers migrate to the new chain (very likely) then you will have no one but Justin to trade with. And I am sure he will not buy your STEEM, so basically, its worth nothing. - What happens to my reputation?
Answer: Will be the same at the time of the snapshot. Again, you will most likely notice nothing really changed, except that now you are on the HIVE blockchain, which by the way, will be more cool and more secure than what STEEM currently is. - Does our STEEM and SBD in savings get transferred over to HIVE as well?
Answer: Yes. Again, everything will be mapped at the time of the snapshot. - What happens to the payouts of posts that are pending payouts at the snapshot time?
Answer: They will just payout on both chains. - What happens to my delegations?
Answer: They will just continue to be as they are if you don't change them at the time of the snapshot. - What happens after the Hard Fork if I start powering down now?
Answer: You will still be powering down and still receive HIVE equivalent to what you have in STEEM, but after the fork, you will be powering down HIVE instead of STEEM. And be mindful, because one of the changes after the Hard Fork is the power up governance delay. If you power up later (after the fork) you will need to wait 30 days for that power up to take effect on your voting for witnesses. Other things don't get affected (like voting posts, etc). - Do I need to change any keys?
Answer: No. The keys will be the same exact ones you used on STEEM. - When is it advisable to change keys?
Answer: Ok, this one is different. And trying to explain why many out there recommend to change your keys after the Hard Fork, the reason for that slightly confusing recommendation is because if you were using the steemit.com front-end and used for example your active key, or your posting key, or in some cases, your account password. Then it means the front-end owner (Justin Sun) "might" have your keys recorded on the logs or somewhere else. For this reason and whenever ANY other tool/front-end is compromised, you should ALWAYS change your keys if used on those tools/front-ends. When? As soon as you can. To be clear, it's not because of the Hard Fork that you should change keys OK? - Do I need to change the recovery account, from @steem?
Answer: You were always free to choose which account should be used for the recovery of your account. But if you don't trust @steem account, you can change it to whomever you trust.
Another ATTEMPT TO EXPLAIN aLLin1 GO!
Imagine that the Steem chain could be put into a copy machine...and at 10am EST on Friday, we run the Steem chain through this copy machine...and the copy machine spits out an exact replica (a copy) of the Steem chain. So now there are two Steem chains.
Then imagine we just slap the name "Hive" on the copy.
That's what will happen...minus the ninja-mined Steemit stake (and a few other accounts).
Probably the best explanation from @ats-david π€£I am sure... π π€£
Hive OpenSource Repo?
Here https://github.com/openhive-network/hive
More questions?
Comment bellow and I will answer/include them on this post.
Check these Cryptocurrency π³Cards
by @forykw 
[email protected]π
eSteem.app | π¨βπ»GitHub | πΊYouTubeβπ»
Telegram | π¬Discord
Dear @forykw
Thanks for this FAQ. I resteemed it already.
I've been trying to figure out what to think about entire situation. In my opinion - neither Justin or most old witnesses aren't to be trusted - and it's just power struggle.
Regardless, we're all going to be affected in ways we cannot yet predict.
Personally, I care to learn how many people I know will move to one chain or another. To see who I would lose if I choose one option or second one. Probably I will try to maintain my presence on both chains.
Yours, Piotr
Keep reading and being around... and you will be fine =) You are an already very well known accountant =)
Go with the Hive Mind Bruv!
What about the rewarding system in the new chain?
For now the same as we have now.
@tipu curate
Upvoted π (Mana: 0/4 - need recharge?)
It's all going to the new chain =)
Appreciate the recognition.
You could sell on the exchanges I think, although the price might plummet after the fork. But there are always people trading steem even if they're not actually blogging/vlogging on the steem blockchain. I've come across quite a few people who are simply traders and never post anything on steem. They just buy and sell whatever crypto that interests them and that includes steem.
Just my 2 cents, but yes, the price could plummet to absolutely nothing.
I am expecting it (STEEM) to go very low indeed... at least 75% of current price... and that's a very optimistic estimate.
Not immediately though, the price will drop sharply within the next 3-4 months, by which time most people will have powered down their steem and will start dumping.
Unless ofcourse Justin continues to have his brainfuck and changes PD to 24 hours and people dump soon after they move to hive!
LOL! That would even lower the price quicker! LOL
Thanks for this, the time taken to explain, found many answers from questions raised in comment stream and content above.
Glad it helped. Makes my effort much more rewarding.
I am happy with the FAQ a part of my questions is answered. There was one more but I forgot.
I still do not feel comfortable because of the German post I read. It feels as if you made not mentioned it here that those seen as the enemy are not welcome.
My answer about the power down and delegations is answered now. Thank you π
Thank you for the feedback and acknowledging the effort here. Totally the thing about this community.
I will point more to this post and partly translated it to some Germans. Thank you again I stop by to stay updated. π
I wish you a great day. π
Great to hear that. I will do another round today to see if thereβs more questions/answers to add.
Was quite exhausting the day due COVID-19 stuff, but I am always eager to get home to check the Hive!
I thought too life would be easier with children at home, no rush etc but more people have questions, are chatting, the teachers make a mess out of it, we struggle to get online which takes a lot of time and in between I try to stsy updated. So it's good to have you and your FAQ. π
π same happening at my place... and i have 4...
I assume we get used to it. π
HIVE sounds really exciting @forykw! Thank you for compiling this FAQ. Would you know if our SBI and steemauto upvotes will be copied to HIVE as well?
Both SBI and steemauto run middle-layers, so it up to them to migrate to HIVE.
I know steemauto already confirmed. SBI, not sure, but most likely everyone will migrate to HIVE. This community is too powerfull =)
excellent post and quite illuminating in the middle of all this situation, I didn't know if it was going to be a copy of steem or something else. Can I make a Spanish translation in my blog? many users of my community have no idea what to decide because they don't even know what this new platform is going to be about
Sure you can, but be mindful that I am constantly trying to edit this post to fix any mistakes or add new information. If you reference this in your post, then it would be helpful for whom reads it, so they understand that you might need to check on my updated to update your translated post.
Otherwise, you can just resteem or cross-post into a community and then ask people to google translate... probably not ideal, but good enough.
thanks for the FAQ cool tips @forykw
No worries mate. You just came in at a super active moment of this community. Hopefully this will be a smooth ride for you too. I know you are kick smart as me... probably more! LOL
Yeah sweet, transitions are positive when the right team has acted so I'm all for the up and move.
I think the biggest question I have is where all my favorite communities will be based in? Will it be the new Hive or Steem? I think SteemLeo had declared they will be moving to Hive but I am not quite sure what the other communities/games will do.
It will be a difficult decision. While individual users like us can continue to post on both chains, communities will probably have to choose one.
It will be a hard/confusing week for many, next week. But then it will all shape. I will be on both chains too, helping steemians convert to hiveians.
Anyway, if most people use the web interface... it will be quite simple to migrate all of them... =)
I have a slow connection and like many am a mobile user only. I can seldom use a web interface which means my days on the block chain are counted.
You can use @esteemapp or the new stuff coming... =) works quite well for me.
@esteemapp is very slow if it comes to loading. I can not use it with my connection. And if it doesn't load posts only notifications in a list which do not load. I do not know how to solve this.
When was the last time you tried it? Please drop those comments in the discord channel. They will be useful to improve the app, for @good-karma team.
Thanks a lot for the feedback. Let's keep working on the positive way =)
Last week I tried it and scheduled it for 4 pm at 5:30 or 5 I noticed it was not posted so I put it back into draft and published it myself. I told it many times before but it doesn't work. π
Yay!
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I should have to remove all my delegation now in preparation in moving to Hive...
Not worth it... in my view.
Please don't be annoyed.
Will my steem power also move to Hive?
Yes. Everything.
Okay
Thanks
Steem goes high
$0.36
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There are still a few people using Steem and I reckon they'll buy our Steem.
yeap... hopefully they can buy mine too in 13 weeks, after my power down gets initiated.
I mean... if Justin wants a chain for profits, then all he is going to get is users that want the same.