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RE: What does the death of Steem mean for cryptocurrency?

in #steem5 years ago

An outside entity could buy large quantities of Hive from exchanges and/or buy several large accounts directly. This new entity could have influence with exchanges, which could lead to yet another take over.

As you mentioned also, this is quite unlikely.
Hive would see a massive pump in price with these quantities purchased and witnesses have 30 days after powering up these massive hives to HP to investigate and react.

But yes, it's not impossible if done very clever and over a longer period.

HIVE ON!!!

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I think it would need to be done through a combination of actions. Someone could gradually accumulate Hive on the exchanges and we would not necessarily notice much of jump in price. The Hive could be distributed to over 50 accounts so that a large accumulation of Hive is less noticeable. There are also several large whale accounts that have been inactive for a while. It is possible these could be bought without anyone noticing.

All of this requires a bit of work and could become expensive if Hive pumps. We also have to consider if it is worth the effort to control Hive. I would guess, it would most likely be a competitor. Fortunately, I don't believe the biggest centralised social media platforms consider Hive a real threat. By the time they do, taking over Hive by accumulating Hive will become considerably more expensive. There is also the possibility Justin could try buying up lots of Hive and plan a takeover out of spite.

I am in favour of turning unlikely into close to impossible. Changing consensus voting could do that.

I 100% agree with your opinions/thoughts.
Well, let's hope it will not happen!