HF21: Heaven or Hell?

Words
300
Reading
2 min
Listen
Play
7y

It seems like there were a few trials and tribulations while the STEEM blockchain went through its 21st hard fork. I tried posting soon after the technical fork here but ran into some issues. I couldn't upload photos or check on other user's wallets or interact with the Steem Engine sidechain for a period of time.

So I went to bed...

But when I woke up, my post had been posted! So seems like HF21 is not that bad. At least the transition was aight.

The real question for me is

What happens to bidbots now?

If we look at the top bidbots, we get an idea of how much STEEM is locked up there because of the ability to earn returns:

Just with these top bidbots, that's a huge sink of 10,911,941.679 STEEM. According to penguinpablo@penguinpablo's most recent STEEM on exchanges report, there are about 95 million STEEM on exchanges. So we are looking at a worse case scenario (The Scenario from Hell) of an increase of 15% to 20% of STEEM supply on exchanges assuming that all bidbots power down and their delegators send their STEEM to exchanges.

The best case scenario (The Scenario from Heaven) is that those delegators find alternative places to delegate their STEEM and none of them reach to the exchanges. Maybe they want to delegate to the bidbots of great up-and-coming projects like leo.voter@leo.voter or one.life@one.life and earn some SCOT tokens.

The truth is probably somewhere in the middle. But that is what I'll be watching for the next few days to try and get a feel where STEEM price is headed.

Happy Hard Fork!

PEACE ✌🏼

HF21: Heaven or Hell? | Ecency