▶️ Steem Is Hardforking To Create Hive | EP#283

Hey everyone Scott Cunningham aka @scottcbusiness today we’re gonna be talking about steem hard forking and starting a
new chain entirely called the hive blockchain and the reason that this is
such a big deal is cuz this is actually happening in a very very small timeframe
this is happening on Friday which is the 20th yes the 20th so very very soon I’ll
probably post this tonight so it’s happening in two days and there’s a lot
of questions there’s a lot of concerns I’m going to give my thoughts and just
share some of the information so that you guys know everything that’s going on
so it’s happening on March 20th this is going to be very very big because this
is the kind of original community of steam that wants to move over it’s
mainly the witnesses and some major gaps have already announced that they will
also move over now the question really is are all the daps going to move or
move over or are the majority and as well as are the majority of witnesses
going to so the general consensus that I’m getting right now is for the most
part the majority of the witnesses are gonna move they’re gonna let the Tron
sock puppets basically take over steam and I guess naturally we’re gonna see a
lot of the daps move over as well and you shouldn’t really even notice a
difference on the actual interface of these Deb’s it will just be the
background like the back network that will actually change so for the user
there shouldn’t be a huge huge change aside from just like the actual
blockchain itself and maybe there’ll be a new interface or something like that
for hive but for the most part your experience should generally stay the
same if anything it should get better because on hive they’re going to have
more policies in place for decentralization
because the whole motivation for this was that Justin son had bought steam it
he had 70 million steam steak from the ninja mine steak from steaming and if
you’re confused by any of this I’ve covered the original issue already in
another video so you can check that out but just to briefly reiterate it’s that
he bought this steam he wanted to use it for governance or whether or not he did
the steam blockchain witnesses set in place a policy that he couldn’t he then
went to all the big exchanges that held steam and Gotham to take user funds and
then stake those in for thirteen weeks and vote on governance and voting their
own witnesses basically centralizing the chain so a large motive and and and
naturally he ended up speaking with a lot of the witnesses a lot of the talks
didn’t seem to be very productive and my assumption is that’s what brought about
this as the solution they’ve decided to create a new blockchain called hive and
one of the major major differences is that there will be a 30-day delay
between powering up and being able to vote on governance essentially this will
give them enough time in the future if anything like this ever happened again
that they would be able to block them from being able to do this while this
does give them more like emergency power it will essentially and it centralizes
in in a way it kind of centralizes the power more with the witnesses but it
will prevent anything like this from happening again because basically steam
will become a centralized blockchain and hive wants to ensure that that won’t be
the case also hive will be carbon copying essentially everything from
steam on Friday so whatever you’ve gone on steam your posts your your
cryptocurrency will all be copied over into the new hive blockchain so it
should be a one to one so if you have a thousand steam power you should have a
thousand hive power etc for all three currencies the hive back dollar steam
back dollars steam our hive power in hive and steam and
they’re going to copy everything over except for the steam it’s take accounts
and all of their related accounts including the Tron sockpuppets and the
reason that that is so important is they don’t want them to also be able to you
know have a major influence on hive and the ninja mine stake was a huge point of
contention or is it the right word anyways it was a huge issue that they
had to deal with and they don’t want that coming up again in the new
blockchain so that also creates a bit of curiosity and confusion and and raises
the question will the hive blockchain be worth more because there’s 70 million
less of the token and that’s largely gonna come down to how exchanges react
to this whole thing so on Friday everyone who owns steam
will have duplicate of that asset in hive so say hive was worth the same
esteem you just doubled your money so there’s got to be something that is
going to you know affect this right like there’s no way that you’re just gonna
have double the Steam price won’t change that’s – wishful thinking what
realistically will probably happen is steam will probably lose a lot of its
value realistically if all the DAPs start to switch over and and people just
stop using steam or you know these exchanges start all lists hive they
might even d-list steam it really all depends on on how that plays out so the
two major factors here are will daps move over and will exchanges cooperate
with hive or work more with steam because we’ve already seen exchanges
very biased Lee work with Justin and you know it’s hard to trust these exchanges
anymore because they took user funds and then
voted on a completely unrelated blockchain and tried to interfere with
its governance that is very very concerning that is like a bank trying to
interfere with a political election and doing so successfully and then not
getting in trouble for it so that is why we’re seeing all the
things that we’re seeing because we don’t want to ever see something like
this happen again so this should be a good thing and this should actually
strengthen the value behind hive and because there’s way less tokens it
should have more value but again it really also depends how many people are
even aware of this how many’d apps are going to switch over and will exchange
is actually cooperate so there’s another thing to consider it’s like how many
people actually are aware of this how many people actually keep up with
everything that’s happening on Steam well a bunch of people even realize that
they’re using hive on Friday because they might just keep using the daps that
they’re using and those daps might have switched over they might not even know
so the interesting thing is going to be is there going to be changes to these
depths that’s gonna make it more obvious that now you’re using hive vs. steam how
is the where is the awareness going to come from and that’s also part of why
I’m making this video because obviously I don’t have a huge audience but if
every single creator on steam makes a video or a post about this I’m sure the
majority of people will catch on in the same way that we all kind of United and
came together around ensuring that we voted back in our original witnesses and
you know even though this has really caused a lot of problems with steam I
think the original community is stronger than ever in I’m pretty certain that
we’re gonna see the majority of them switch over to hive because steam at
this point is basically becoming owned by Justin and people want a
decentralized platform that is owned by the community so
I’m hoping that everyone kind of works with this and works with the original
witnesses and moving everything over I hope to see some of my favorite gaps
move over again there’s already big there’s already been some big
announcements from certain gaps I believe splinter lands was one and I
will update in the description the other ones that did I just can’t remember off
the top of my head right now but again you know we don’t know exactly what’s
gonna happen but I am concerned that steam will lose a lot of its value
luckily all of your assets will be duplicated over to hive the question is
here now that if you’ve got steam on an exchange will you get an airdrop it’s
only if exchanges work with you so you’re either better off to sell your
steam or put your steam back in your steam account so you can get the
duplication and then maybe sell I feel like there’s going to be a ridiculous
sell-off on Friday after that all happens we shall see
most of my steam is powered up so I can’t really do much about that but um
you know we’ll just have to see how all this plays out but again the main things
that you want to look out for are our exchange is going to be listing hive
will ad lists team and our adapts going to move over these will be the major
major indicators of the actual value of hive obviously also how many people are
actually moving over to hi but that’s very hard to track compared to the other
ones because I’m sure these DAPs will make announcements as well as certain
exchanges block trades and one other smaller exchange has also announced that
they will support it again I forget the name but I will add all this information
in the description so you guys can get a very thorough documentation of
everything that I found when I was doing my research anyways let me know what you
guys think about this I think this is huge huge news again this is happening
in two days so if you’ve got your steam on exchanges you’ve got to sell it off
before it plummets or you got to put it back on
steam so that you can get your free hive because there’s no guarantee that
exchanges will honor the duplication or the free airdrop of the hive so you know
take that as you will make sure to act quickly again only two days left and if
you did watch to the very end of this video I really appreciate it make sure
to comment hashtag number one hymn in the comments below so I know that you
watched the very end let me know what you think about this do you think this
is the right move by steam witnesses do you think blockchain is going to be a
success would you have called steam a failure do you think it’s going to be
just really centralized now do you think exchanges will be with hive or against
it let me know all of your thoughts in the comments below
you are amazing have an amazing day I’m Scott Cunningham aka @scottcbusiness
signing off Cheers

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