How I visualize the worst case...

Converting tokens actually requires a swap. Users give their Steem in exchange for “TronSteem.” This is of course voluntary, but with every user who makes the switch *(and many will, to follow dApps that are lured over, fear of being left behind on a chain with no formal development team, etc.)* Tron’s governance stake in the original Steem blockchain grows. 

Unless a large majority of Steem stakeholders refuse to switch, Tron both builds “Steem 2.0” on their chain, and simultaneously assumes full centralized governance control over “Steem 1.0.”

I can foresee a Steemian community that wants to remain independent forking... but we would be the forked branch, not the original. That means a new token, no exchange listings, liquidity, or value to start... I honestly don’t know if that branch survives.

This is *all* speculation, I’ll be eager to hear conversion details tomorrow.