The Steem News @ 15 February 2020 - Tron & Steem - Livestream & Witness Forum Summary of Discussions

Day 2 of the marriage between Tron and Steemit Inc brought much discussion and some information.

First up Justin Sun, founder of Tron and Ned Scott, co-founder of Steem and Chair of Steemit Inc held a livestream, billed as an AMA, on DLive.

Immediately following the livestream @aggroed hosted a Witness Forum on MSP Waves.

The Justin Sun & Ned Scott Livestream

This livestream went out through DLive (recently acquired by Tron) as well as YouTube and Periscope/Twitter. It lasted around 50 minutes.

Although billed as an AMA (Ask Me Anything) with questions invited before the event, it was more a presentation about Tron and Steem, with only a few questions being answered by Justin Sun.

However @justinsunsteemit did give some clarification on a few issues of concern to the Steem community including...

1. There are no current plans for a token swap of Steem for a new Steem/Tron token. There will need to be plans made before this will proceed.

2. Steem will continue to run independently for the immediate future, and the Steemit Inc team will remain in place.

3. A new product will be released next with new features. It is assumed this will be the new version of including Communities.

4. Tron will be investing resources, people and money, into increased development and marketing of Steem.

5. Justin Sun has no plans 'right now' to use his large Steem Power stake to vote on content or for witnesses.

6. As long as the Steemit Inc team are ready for it, then SMTs will be released.

7. Tron will be offering financial support for the development of DApps.

Justin Sun is "pretty bullish about the future of Steem and Steemit" and he "really cherishes the words of the Steem community".

Several people have produced summaries and responses to the livestream...

There were over 1500 people viewing the livestream on DLive. A recording is available on YouTube...

The Witness Forum on MSP Waves

Immediately following the livestream top 20 witness @aggroed hosted a Witness Forum in MSP Waves.

There were over 250 members of the Steem community present including most of the top witnesses.

The witnesses were invited first to give their general impression of the situation following the livestream.

Contributions included...

  • @timcliff - "Cautiously optimistic... wait and see... no rash plans. This could be the turning point for Steem to move in a positive direction"
  • @lukestokes - "Justin Sun could be the person to help Steem get the recognition it deserves. Cautiously optimistic but the community should be prepared if we need to act against a hostile takeover"
  • @yabapmatt - "Nothing changing for now. Justin Sun will be putting money into Steem. The ultimate plan will be put to make a new Steem token on Tron"
  • @aggroed - "For now cautiously optimistic"
  • @crimsonclad - "Positive. Let's make this work'"
  • @starkerz - "Very bullish. Justin Sun has a win-win vision. But our responsibility as a community is to ensure it will be difficult for Justin Sun to do a hostile takeover"
  • @therealwolf - "The community has been living under the illusion that Steem is fully decentralised, but it's not. It is important that the community has more Steem than Tron"
  • @thecryptodrive - "Whole thing was a bit soft. As a business owner on Steem I was uninspired"

@aggroed then posed the question to the witnesses "Under what circumstances would you support a fork?"

Responses included...

  • @lukestokes - "If the fork would remove property, we must consider very, very carefully before forking. Only go for a fork if there is a hostile takover that puts the chain at systemic risk"
  • @drakos - "We need to be very careful about forking anyone out. Forking is not a good idea. Who would do ongoing blockchain development?"
  • @yabapmatt - "A fork wouldn't do anything that Justin Sun would care about"
  • @starkerz - "Need to have a mitigation plan in place. We should look out for danger signs"
  • @crimsonclad - "Only fork if Justin Sun is voting for witnesses"
  • @jarvie - "Would fork right away to get rid of the attack vectors, so Tron doesn't have the opportunity to do a hostile takeover"
  • @therealwolf - "Should focus on the positive things we can do with Tron money"
  • @thecryptodrive - "Would a negotiated fork be possible?"
  • @fredrikaa - "Important not to lose perspective. Things were not perfect before"
  • @themarkymark - "At some point in the future Steem will disappear into Tron - that's a fact"
  • @jesta - "The community is involved, the community cares. It is the devil we know v the devil we don't"
  • @themarkymark - "Should prepare for a fork, but doing one now is premature. Otherwise against forking as it will reflect on the integrity of the blockchain"
  • @aggroed - "Should get Tron to sign an agreement that they won't use their stake to vote witnesses..."
  • @mcfarhat - "Should open lines of communication"
  • @lukestokes - "Justin Sun may be more in alignment with the Steem community regarding marketing and promotion"

The discussion then moved to the witnesses' outlook for the future.

Responses included...

  • @theycallmedan - "Extremely bullish. Must keep all options on the table, and be prepared. The community should be optimistic and be ready to grab the opportunity"
  • @fredrikaa - "As a dApp owner I see this as positive. Growing with this momentum is a good thing. Plenty to work with, but need time to reflect. Use energy like this to move forward. Bullish, but cautious."
  • @adsactly - "Be more positive than negative"
  • @lukestokes - "Take time to breathe. Still early"
  • @jarvie - "Optimistic but cautious. Lots of things Justin Sun can bring to the table"
  • @starkerz - "Massive, massive opportunity. Funding now available means everything will get completed. But must get our butts covered just in case. Guaranteed winner. Very, very excited about the future."
  • @crimsonclad - "Optimistic, rather than pessimistic. On a level that we were not optimistic with Ned. It is an opportunity to get Steem spoken about more widely"
  • @aggroed - "For now I'm excited. The marketing and capital will be great for us. As long as STEEM is still on the exchanges, the chain is still running and Justin Sun is not voting for witnesses"

In summary, the consensus seemed to be that there is no immediate need to hard fork, but preparations for all eventualities should be considered.
Channels of communications with Justin Sun and Tron should be opened, and ideally some agreement should be reached.

Overall, the mood was optimistic.

@starkerz summed it up well ... "Positivity with Caution"

For reference Justin Sun has now made his first post on Steem...

The Tron / Steem news is still generating a lot of posts expressing a range of opinions.

Including some from witnesses...

And many from leading community members (in alphabetical order)...

And a few from DApps...

Media Coverage

KEY DATA  [ from CoinMarketCap & @arcange ]

Steem price US$ 0.259 16 Feb '20 2.19am UTC
CoinMarketCap Ranking #72 16 Feb '20 2.19am UTC
FCAS Score 755 / A 16 Feb '20 2.19am UTC
SBD price US$ 1.03 16 Feb '20 2.19am UTC
No. of Whales 37 14 Feb '20
No. of Orcas 366 14 Feb '20
No. of Dolphins 2222 14 Feb '20
No. of Minnows 9300 14 Feb '20
Alexa rank ( #15,178 16 Feb '20 2.19am UTC
Unique visitors ( 217,740 / day 16 Feb '20 2.19am UTC
Page views ( 500,802 / day 16 Feb '20 2.19am UTC

Follow @penguinpablo & @steem-data for more statistics.

This is #259 (15 Feb '20) of this daily news service.

[ graphics by @pennsif ]

Comments 40

I guess that devs would have additional incentives at the moment as @justinsunsteemit did mentioned that there was going to be some sort of a grant/supoort from Tron Foundation for developers.. I think that alone would pull more devs in.

The partnership does seem like a great thing, however we shall see in the coming weeks on how the execution of what is being said take place.

16.02.2020 04:29

Yes, it will be interesting to see what is on the table for devs. Could open up a lot of possibilities for increased developments and userbase building.

17.02.2020 00:13

Thank you for summing it all up and creating this detailed post.
Let's see what the future holds and be prepared.

16.02.2020 05:49

The next few weeks will be interesting for sure.

17.02.2020 00:13

As always this is very useful as I missed all the action yesterday, so thank you so much @pennsif. Your work here is of great value.

16.02.2020 06:00

Glad it is useful.

17.02.2020 00:21

Those comments from the witnesses reassure me somewhat. I know others are panicking, but it shouldn't be in Tron's interest to trash Steem. There may be opportunities. Will they compromise on the freedom we have?

16.02.2020 07:56

I'm a bit confused about the panicking, we're not even sure what's going to happen yet. Or are people worried that the current price is all they will get?

16.02.2020 08:31

I think it is more on censorshipfree zone (by central command like the mainstream media), freedom of decentralisation, and hostile takeover

16.02.2020 09:04

Again, we don't know how any of those things are going to play out.

16.02.2020 09:32

Again, we don't know
How any of those things are
Going to play out.

                 - shanibeer

I'm a bot. I detect haiku.

16.02.2020 09:32

Usually people panic at the unknown. Which can be normal.
Let's just hope what Justin said he holds up his promises

16.02.2020 10:35

I agree.

16.02.2020 10:37


17.02.2020 00:24

Everything is up in the air at the moment.

17.02.2020 00:24

We really don't know how it will play out. Loss of freedom here would be an issue for many, but others just care about the rewards. We do not want to risk losing our Steem regardless of the price. By the time of Steemcamp we should have a better idea.

16.02.2020 12:43

Still a lot of unknowns, but the general consensus seems to be leaning towards the positive.

17.02.2020 00:22

Thank you for the summary, really helpful.

16.02.2020 08:33

You're welcome.

17.02.2020 00:36

Thank you for the effort of putting this all together. I was in and out of the conversations all day but I'm pretty positive after hearing all the conversations now after being initially concerned from what I was reading after the announcement.

Dust will settle in a week and we'll know more in 1-3 months as things unravel (I've been saying that a lot haha)

16.02.2020 09:18

Wait and see mode for the moment I think...

17.02.2020 00:40

@pennsif Muy Buen resumen!, lo comparto.

16.02.2020 09:58

De nada

17.02.2020 00:37

It was really good to read this all and see what happens. I am a little concerned but optimistic about what this merger could bring. I wish they talked more about the future in the AMA but how can you do. Let's wait to see what the new product they roll out is.

16.02.2020 10:49

Good communication will be key...

17.02.2020 14:47

What i see is steem market are going down again.. So sad but the truth everybody hate tron coin..

16.02.2020 12:22

I will have to go have a look at these commentaries that you promulgated. By the way; thank you for doing so.

Yesterday I watched the AMA. I did not really come away being anymore enlightened than I was the day before. Hopefully, it all works out well.

Once again; thank you so much for providing the SteemNews. It is a wonderful resource!

16.02.2020 12:53

You're welcome.

The AMA did leave us rather short on the useful answers front. I am sure we will get some answers just in time.

17.02.2020 02:52

So much crazy happened on a single day 😅

16.02.2020 13:22

A great big couple of days!

17.02.2020 14:47

Hello. I'm a new user. I'm very confused about the issue regarding tron, especially since there are very diverse views on the trending category. Thank you for the thorough explanation! It cleared up some of my confusions.

16.02.2020 14:31

Hope you stick around, should be a fun ride.

17.02.2020 14:48

Yes, I'm sticking around for now.

24.02.2020 18:55


16.02.2020 14:35

Hi! Clearly I will have to come back here after I have a bit of a think and leave a comprehensive comment, because the one part of one sentence you culled from the live talk is quite cutesy, and quite misleading on my overall stance. I know that that wasn't your intention, but that's how it's come across, so it will be on me to better clarify. That whole 'lost in translation via the news' thing that's happening with Tron isn't limited to Tron.

16.02.2020 16:35

Hi Crimmie, I debated whether to include it, but ookie is such a lovely word - it was too good to leave out 😀

When the recording comes out I can add more context. But in the meantime feel to drop a line that you would to see there instead and I will edit in.

16.02.2020 16:39

Wicked awesome job with the summary of the two chats, @pennsif - thanks for putting this together!

16.02.2020 16:55

You're welcome Traci. Certainly plenty of material for the news these days...

17.02.2020 14:49

Thank you for this @pennsif - for whatever reasons, the maelstrom passed me by and I've had a bit of catching up to do. Great summary.

As I said on Twitter: I'm hunkering down and planning to ride out the storm. Wait and see.

Thanks again for keeping us up to date with happenings in Steemit.

17.02.2020 10:05

Glad it is useful.

Good plan I think to hunker down and ride out the storm.

17.02.2020 14:50