Warning: Steem witnesses executed a hard fork on 2020-05-20, seizing 23.6M STEEM from 65 accounts. The funds were transferred to an account named @community321, the ownership (and intentions) of which have not been revealed. The witnesses claim to have been targeting accounts which defended against a hostile takeover in early March, but at least 2 accounts on the list have been inactive for over 4 years.

Coverage:
- Decrypt.io: Steem network to seize $5 million from its own users
- SteemPeak.com: Official Announcement by @softfork22888
- GitHub.com: view steemd HF23 changes

What you can do:
- Send exchanges a notice of the pending class action lawsuit.
- Switch to HIVE, the community-led fork. Visit Hive.blog and Hiveblocks.com.

A perfect storm of disasters by tarazkp

View this thread on steempeak.com
· @tarazkp ·
$42.84
A perfect storm of disasters
<div class="text-justify">

I was reading a post or two from the SCT community, and other than being able to count to 10 in Korean, I had to use Google translate. There seems to be a fair bit of talk about "Hive" and one of the posts was about what would give the token value against STEEM. Again, my Korean is shoddy and I have little faith in Google translate's ability, but it seems that they haven't considered that many people are going to dump Steem onto the market, rendering the STEEM token quite rekt. 

https://i.imgur.com/pMeEbxq.jpg

This is speculation of course, but I would imagine that a lot of users will dump their Steem in favor of Hive Tokens in a chance to get a better ranking with a coin that has a 25% lower supply. They also don't seem to consider who the holders of STEEM are, other than themselves, who they apparently consider among the only buyers of Steem. 

This might be true, as if I remember correctly, it was Korean exchanges that pumped SBD to the moon in a market that only Koreans could participate in. But, I might have that wrong, so don't quote me - it was crazy times. SBD has a very small marketcap and is very easy to pump - *and dump.*

However, with 344M STEEM in the current supply and only about 100M coming out of the inflation pool over the last 4 years, who actually holds all of that liquid Steem on the exchanges? I would say, quite a few of the people who are likely going to be migrating their resources over to a new chain. 

>After the snapshot, is it Dumperama?

While I am pretty disappointed in how all of this has played out so far, people are pretty predictable and they will go where there is value. The problem is, who is going to buy Steem at the very lows when they didn't buy at 9 cents recently under relatively good conditions with SMTs arriving? Probably the tiny group of people who have been instrumental in this clusterfuck and then, Steem is back at early 2016 with a small group of large holders. How'd that play out? Who knows, perhaps STEEM will get pumped to the moon on Justin Sun hype, but that hype will fade and there won't likely be much left of what is meant to be a content delivery blockchain.

As said, it is all very disappointing that it has come to this, but maybe it is the best thing to do for the community, kind of like ripping off a band-aid, except instead, it is the ninja-mined stake. 

>I wonder how many Steem holders there will be in 13 weeks from now?

I see the markets as all speculation without even project-level sentiment for most of the alt coins. I don't think most people know that much about what they buy, no matter how much they buy, as long as they think they can make a gain on it. Remember that people bought into Bitconnect *knowing* that it was a scam - believing they could get out fast enough. Generally, no one is faster than the people running the scam. 

People are predictably greedy, and I think that we are in a near perfect storm for crazy, with people globally heavily affected by the virus conditions and all of the knock on effects it has, including the collapse of the financial sectors that will have repercussions for years. Remember though, it was back in 2009 that the bitcoin Genesis block dropped in response to a very similar kind of economic situation and how it was handled. 

Over the next weeks and months, there is going to be a great deal of panic buying and selling as what people have considered safe loses its floor, and what people didn't expect to hold, could very well recover fast. Perhaps, these are the times for many crypto projects to start earning their value by providing utility and meaning, instead of riding on pure speculation.

If you want to make money from a community, you will likely first need a community.

For me, I am just playing it all by ear as in real life, things are not going as well as hoped and there will be plenty of belt tightening to come at a time where we were so close to being able to relax and start to enjoy some of what we have worked for. 

But, there is always next year, or the year after that, or the one after that one....


Taraz
[ a Steem original ]

</div>
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 302 others
πŸ‘Ž  
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vote details (367)
@tarazkp · (edited)
All your disaster are belong to us


https://twitter.com/tarazkp1/status/1240025024897126400
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@kadna ·
$0.02
for translation use deepl - it is much better than google. You are back to Steem? What about hive?
πŸ‘  
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@tarazkp ·
$0.03
What do you mean? Hive hasn't started up yet, so I am still here til it does at least.
I am still disappointed that all of this has happened though.
πŸ‘  ,
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@kadna ·
Sorry - i thought that today there will be more informations and maybe i missed it - so i saw your new/old signing as a steem original and i was confused... and disappointed, too...
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@tarazkp ·
oh, never used deepl - thanks :)
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@por500bolos ·
$0.02
> for translation use deepl - it is much better than google.

Looks like deepl is totally  useless to translate Korean, Chinese, Japanese and all those oriental languages. };)
πŸ‘  
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@kadna ·
>Looks like deepl is totally useless to translate Korean, Chinese, Japanese and all those oriental languages. };)

thank you - i did not know that!
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@bashadow ·
I'm still kind of in a holding pattern. Still not 100% sure what I will do, I almost never am until I do it. Hard Forks in steem have never run smoothly, so I am not sure the Forking of steem will be an easy thing. I know they said an announcement will be sometime today, but perhaps they are having issues, It is back to playing the waiting game. They did get a ton of comments support and questions on their post yesterday, so perhaps a bit of reviewing going on. 

I just hope I do not need to figure out how to sell my steem then buy hive tokens. 
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@mrnightmare89 ·
It's true these things are unsure for now. But when community will fight it will be for sure. However we need a little time because not all of us has the same mindset. There are also greedy but we never know that it might help us from promoting steem. I heard "HIVE" first from @theycallmedan but I have no idea. But after reading your content. Thanks for sharing ideas about it.

!SHADETOKEN 5 
πŸ‘  ,
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@tarazkp ·
Lots of excitement to come.

!ENGAGE 25
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@misterengagement ·
<center><div class="center">https://steemitimages.com/0x0/https://cdn.steemitimages.com/50x50/https://cdn.steemitimages.com/DQmdHfkhCPGYcfUqZqT4Br3nsmCpeVPj1BcLoepVX2PYeAE/engagetoken.png/ </div><br><br> @mrnightmare89 you have received `25 ENGAGE` from @tarazkp!<br>View and trade the tokens on [Steem Engine](https://steem-engine.com?p=market&t=ENGAGE).</center><br><hr><center><sup>This tip bot is powered by witness <a href="https://untersatz.steem.design">untersatz</a>!</sup></center>
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@glory7 ·
$0.08
I am not sure which article(s) you read from the SCT, but I also agree with most of your conjectures.

I expect that both Steem and Hive will go down. I wonder who would put his USD/bitcoin to buy them. On the other hand, it is clear that there will be lots of selling pressure - people who hate current steem will sell, and people who are skeptical about Hive will sell (it was free airdrop so they even may not care about the price).

Based on this (and more), I expect that division would hurt all (in terms of price). So I tried to aid negotiations but it seems that compromise is not coming.
πŸ‘  
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@fknmayhem ·
That seemed more like a powerplay where the SCT community wanted to achieve a highly damaging outcome to the STEEM economy, based on greed.

I'm sorry, as an observer I didn't see that as trying "to aid negotiations". More as a "wanna Kingpin" move. 
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@glory7 ·
SCT community heavily invested Steem (i.e., bought lots of steem) and as far as I know they(or we) also try to enhance the STEEM economy. Of cource, opinions regarding specifics may differ, but it is natural (unless it is "centralized").

As the author of the original post mentioned, it is truenthat sct or korean community tended to stay away from the governance issues. We realized that all of a sudden our vote becomes critical, and started to learn what each party thinks and we also presented our opinions.

Not sure we wanna be a kingpin(nor could we) - as far as I know, we simply wanted to actively involve and wanted to hear from both sides before making a decision.
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@tarazkp ·
Both will take a hit short term and perhaps steem will recover. I am sure there will be plenty of cross posters to add some content volume, but who will stay and vote on them is a question also

The negotiations never really needed to be aided. Once the centralization of the chain became an option, it should have been rejected utterly and completely.
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@glory7 ·
My guess is the same that there will be lots of cross(double?) posters. We will see whether that would continue in the long run, though.
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@whatamidoing · (edited)
$0.04
The snapshot should really be from before any of this was decided, otherwise the witnesses and development end are going to make out like bandits and some people are going to be needlessly fucked because they weren’t in the know

Maybe from the day the tron announcement was made? Or the day the sock puppets came in?
πŸ‘  , ,
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@tarazkp ·
Won't happen. Some always make out like bandits - but let's see where it all is in 3 years again.

!ENGAGE 25
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@whatamidoing · (edited)
well then eventually history will repeat, but I’ll be along for the ride, and have as much fun as I can, bandit ;-)
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@misterengagement ·
<center><div class="center">https://steemitimages.com/0x0/https://cdn.steemitimages.com/50x50/https://cdn.steemitimages.com/DQmdHfkhCPGYcfUqZqT4Br3nsmCpeVPj1BcLoepVX2PYeAE/engagetoken.png/ </div><br><br> @whatamidoing you have received `25 ENGAGE` from @tarazkp!<br>View and trade the tokens on [Steem Engine](https://steem-engine.com?p=market&t=ENGAGE).</center><br><hr><center><sup>This tip bot is powered by witness <a href="https://untersatz.steem.design">untersatz</a>!</sup></center>
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@marcybetancourt ·
$0.04
Your reasoning is very objective.
I read from beginning to end that after the storm calm will come. Will it be possible? My question is -when will the storm end?
I'm just creative content (with many difficulties due to limited internet connection), depend on investors. Again I wonder: -will there be new investors?

To watch the storm you have to get away from it. This is how the disastrous landscape will look as it passes.
πŸ‘  , , ,
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@tarazkp ·
I think there will be new investors in Hive if it creates some "buzz" and gets a bit of onboarding publicity.

!ENGAGE 25
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@misterengagement ·
<center><div class="center">https://steemitimages.com/0x0/https://cdn.steemitimages.com/50x50/https://cdn.steemitimages.com/DQmdHfkhCPGYcfUqZqT4Br3nsmCpeVPj1BcLoepVX2PYeAE/engagetoken.png/ </div><br><br> @marcybetancourt you have received `25 ENGAGE` from @tarazkp!<br>View and trade the tokens on [Steem Engine](https://steem-engine.com?p=market&t=ENGAGE).</center><br><hr><center><sup>This tip bot is powered by witness <a href="https://untersatz.steem.design">untersatz</a>!</sup></center>
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@overkillcoin ·
$0.04
Shouldve been powering down this whole time, but I wanted to battle Sun's sock bitches :-/ Oh well at least I'll have my hivey's 
πŸ‘  , ,
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@tarazkp ·
Yeah, it is what it is and those who didn't give AF will benefit as normal.

!ENGAGE 25
πŸ‘  
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@overkillcoin ·
At least Sunny Boy won't get his instant power down for now :)
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@misterengagement ·
<center><div class="center">https://steemitimages.com/0x0/https://cdn.steemitimages.com/50x50/https://cdn.steemitimages.com/DQmdHfkhCPGYcfUqZqT4Br3nsmCpeVPj1BcLoepVX2PYeAE/engagetoken.png/ </div><br><br> @overkillcoin you have received `25 ENGAGE` from @tarazkp!<br>View and trade the tokens on [Steem Engine](https://steem-engine.com?p=market&t=ENGAGE).</center><br><hr><center><sup>This tip bot is powered by witness <a href="https://untersatz.steem.design">untersatz</a>!</sup></center>
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@whatsup ·
$0.03
TBH all it takes for Steem to pump is a bull market and some marketing.

While I know many are angry and will dump, I am not convinced it is a death sentence for Steem.

I don't pretend to know what Justin will or will not do with it now, but I find it more likely he will market it in a meaningful way than those we already know.

I mean no offense to anyone when I say that.
πŸ‘  ,
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@tarazkp ·
$0.03
I assume it will become a pump and dump target, especially after a price crash. A bull market can raise all tokens and I also assume there are going to be plenty of crossposts.
πŸ‘  
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@tobetada ·
there is going to be a lot of volatility; personally, I am more leaning to hodling :)
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@tarazkp ·
hodling and cudling is what I generally do.
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@d-pend ·
$0.19
Losing 95% of the value of my crypto in the last bear market has made me feel pretty resilient in the face of price dumps. I am confident that whatever protocol demonstrates its ability to provide value and attract an active userbase will eventually rise. That said β€” I would expect to see some pretty crazy volatility in both HIVE and STEEM in the short term, especially in light of current world events.
πŸ‘  
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@tarazkp ·
>I would expect to see some pretty crazy volatility in both HIVE and STEEM in the short term, especially in light of current world events.

Yes, it is going to get crazy.
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@tonytrillions ·
An informative masterpiece 
!giphy marvelous

Posted using [Partiko Android](https://partiko.app/referral/tonytrillions)
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@giphy ·
<img src="https://media0.giphy.com/media/1dLxycTACHRZu/giphy.gif?cid=0aaf8a74d4e1b0ef09bb44e38b9cda60d6de0f2500f04d34&rid=giphy.gif" /><br><a href="https://giphy.com/gifs/conversion-gfycat-limits-1dLxycTACHRZu"><img src="https://files.steempeak.com/file/steempeak/echobourdon/SCyDAmrs-PoweredBy_200px-White_HorizLogo.png" /></a><br><hr>giphy is supported by witness <a href="https://untersatz.steem.design">untersatz</a>!
πŸ‘  
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@arcange · (edited)
JOIN THE REVOLUTION
![](https://i.imgur.com/1IisxxB.png)
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@flemingfarm ·
$0.03
It feels like Steem will become an Asian site now like weibo or whatever else is used. I have no desire to be associated with anything of Justin's and will sell everything related to him. I have no use for dictators or tech bros. 

Time for us to swarm the Hive and make it what Steem never could be.
πŸ‘  
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@indigoocean ·
I agree completely.
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@tarazkp ·
Not sure. It might be that for quite some time, there is a community overlap, how large that is will depend on how each side moves going forward. 
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@shortsegments ·
$0.53
Yes, into the storm we go, marching forward into a sunny sky, but howling wind.

Marching into danger, hoping to find freedom, hoping to build a home.

Marching into danger, hoping to find freedom, hoping to not be alone. 

Marching into danger, but heading away from war, 
leaving certain failure, for the chance to be more. 

Marching into danger, with our emotions on our sleeves, signaling our behavior, to steady our resolve. 

Marching into danger, leaving the home we know, 
accompanied by friends we know and other brave adventurers, whose intentions we don’t yet know. 

Marching into danger, potential enemies around every corner, but friends to the left and right,  hopefully watching our back. 

Marching into danger, leaving the home we know, hoping for a better tomorrow and to build on what we know.

Posted via <a href="https://steemleo.com/">Steemleo</a>
πŸ‘  , , ,
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@tarazkp ·
!ENGAGE 25
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@shortsegments ·
https://twitter.com/shortsegments/status/1240337334538653696?s=12
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@misterengagement ·
<center><div class="center">https://steemitimages.com/0x0/https://cdn.steemitimages.com/50x50/https://cdn.steemitimages.com/DQmdHfkhCPGYcfUqZqT4Br3nsmCpeVPj1BcLoepVX2PYeAE/engagetoken.png/ </div><br><br> @shortsegments you have received `25 ENGAGE` from @tarazkp!<br>View and trade the tokens on [Steem Engine](https://steem-engine.com?p=market&t=ENGAGE).</center><br><hr><center><sup>This tip bot is powered by witness <a href="https://untersatz.steem.design">untersatz</a>!</sup></center>
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@jacobtothe ·
$0.02
I plan to HODL my STEEM for now. I may be irritated with Justin Sun's management of STINC, but the blockchain itself may be salvageable. I plan to primarily blog on Hive, cross-posting to Steemit for a while with an invitation to join Hive.
πŸ‘  
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vote details (1)
@tarazkp ·
>but the blockchain itself may be salvageable. 

Yep, and it might do okay once there is a catalyst to drive the change needed. 
πŸ‘  
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vote details (1)