Goodbye Ned, Hello Justin
Well everyone has by now heard the news that hit on Friday, Ned Scott has sold Steemit Inc to Justin Sun, tech entrepreneur and founder of TRON, as well as current CEO of BitTorrent. The responses have been all over the place, from people being happy about a change from Ned to someone like Justin who has a much bigger social media presence, to the more erratic, the end is nigh and we need to fork Steem or dump it now. Firstly, don't panic, take a deep breath and calm down.
My advice is to firstly get as informed as possible about exactly what is going on, a very important point to note is that Justin Sun has bought Steemit, not Steem. What he bought was a company called Steemit Inc, which employs developers who run infrastructure and develop the blockchain, as well as the website domain steemit.com, and lastly about 75Million Steem or approximately 20% of the supply. What Justin did not by was the Steem blockchain, that is owned by all the steem token holders, you and me.
"Sometimes it seems as if there are more solutions than problems. On closer scrutiny, it turns out that many of today's problems are a result of yesterday's solutions." - Thomas Sowell
I really recommend you watch the Steem Witness Forum video above if you were not able to join the live-stream on Saturday. This would be a good place to begin, to get a vast amounts of different takes on where things could be going next from folks who all have a wealth of knowledge and care greatly about us and our Steem community.
A few related posts to get you up to speed with everything that's been happening with the sale of Steemit Inc to Justin Sun, as well as a few concerns that have been highlighted.
@justinsunsteemit - Excited about TRON&Steem/Steemit collaboration
@aggroed - Justin says Steemit is migrating to Tron: Time to Panic or Things will be OK for Now?
@therealwolf - Protect & Govern STEEM: Vote for Witnesses NOW!
@pharesimAn interesting development happened today, when Justin tweeted the following, "Steemit to Shift Its Proprietary Blockchain & Token to #TRON Network." which is kind of the opposite of what he said he would do, let's hope there was some kind of miscommunication.
"Both free speech rights and property rights belong legally to individuals, but their real function is social, to benefit vast numbers of people who do not themselves exercise these rights." - Thomas Sowell
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Join me tomorrow for more lessons on these really easy to understand concepts.
Thanks for popping in, hope you liked the post. Please leave me your thoughts and or opinions in the comments below, have a beautiful day.
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