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RE: Statement on Softfork 0.22.2

in #steem5 years ago

...if you're a rational and risk-averse investor, you'd do well to liquidate your STEEM holdings and invest in more secure projects

Yes, that is exactly my thinking as of about 6 days ago.

The soft fork does secure the chain somewhat and could be considered an encouraging sign for token holders, but if we now have an adversarial relationship between Steemit and the Top 20 then that's a major concern.

At the end of the day the blockchain has potentially just lost a substantial development resource. Hopefully it can keep it's exchange listings or the token price will be in serious trouble. That's not FUD, it's just reality.

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Regarding exchange listings - as I've mentioned several times before, Justin Sun owns Poloniex and is in bed with CZ from Binance. I'm sure you've seen the multiple Tron, Wink, BTT etc promos run their before. If Justin Sun wishes to execute a hostile takeover, and Steemit.com, Poloniex and Binance supports it, who do you think other exchanges will support? I still hope Justin takes the high road and comes to an amicable agreement with Steem witnesses. Either way, it certainly is a risk high enough to justify considering hedging your investments, or at the very least power down to keep it in liquid form. Be safe, all the best.