I still don't have the slightest clue of what will happen with Steemit after the take over by Justin Sun, which I guess is what it was. I asked last night where the 75 million Steem he bought came from and was told it was from Steemit, but Steemit has less than 30 million, this means there are some pretty big accounts out there that have probably been dictating policy with their votes that I didn't even know about, which makes me feel kind of dumb.
I know there have been some discussions with Mr. Sun online about what the plans are but apparently these have not been of much use because it seems no one knows what will happen. Like for example Steemit had several full time employees, will they remain on the payroll? A stupid question probably but I do think the developers should stay, just for the simple reason that they know more than anyone else about what is being done on or for Steemit.
Then we have the big question, what happens to the Steem owned by everyone here? This is what has the whales and big stake holders really worried. Will they be able to get out of this without losing any significant amount of money? Actually I think this takeover will be good for these people, I think Steem's price will go high, maybe not sky high but definitely well over a dollar and that should be enough to get at least what you put in.
My stake is small I own close to 700 Steem so if things go bad I will have lost close to two hundred dollars, which would be quite useful in my hand but also losing them will not really hurt me except for my mind asking me why I was so stupid and didn't sell before. On the other hand if it were to go to, say $8.00 (It has been there) then I would be great, see I have about 160 liquid Steem and just that would let me pay an outstanding debt I have and I would still be a minnow.
Of course nobody knows exactly what Mr. Sun's plans are, he might turn out screwing all of us but I think realistically he is in it for the money so we will probably benefit from this take over. So we might as well just continue writing, commenting, up voting, making videos etc. as if nothing has changed. We can't do anything about it so let's try to live with it.
