Updates From Steemit Inc Team And Justin Sun's Involvement
It appears the rumors about Justin Sun and Steemit Inc were not totally unfounded.
There was an interview with Sun where he asked him about this topic. Sun not only did not deny it but he basically confirmed it.
He talked about the active acquisitions while also mentioning one they invest in.
Here is some of what was said.
Sun: We are backing the projects but we are not the person who leads those projects.
Interviewer: This applies to Steem and Poloniex.
Sun: Yeah. Yeah. So ah and and also Wink.
Sun then goes on to add this:
And also Steem, we haven't said anything about Steem yet. So, its all, like, in commercial discussion. We havent released any news.
Sun appears to confirm that is some kind of investment that either went to Steem (I presume it applies to Steemit Inc) or will be going there.
Take a listen for yourself. This part starts at about the 20 minute mark.
As exciting as this is, there was other information that came out from the Steemit Inc team. @aggroed held a Witness Forum with the team on there. We heard a few things discussed that I feel are important.
The first has to do with scaling. Aggroed asked @vandeberg about it. He is one of the blockchain developers for Steemit Inc. He went on to say that, while not able to give a precise transactions per second or how much traffic Steem could handle, that he feels Steem can scale better than most, if not all, other blockchains.
When pressed on the order of magnitude that the blockchain could handle, he did say that he believes it would be well beyond a 10x from here. The reason why it is so difficult to answer is because not all transactions are the same. They will vary in size and scope.
Either way, the point was clear: Steem's ability to scale, according to one of the main developers, outpaces most of what is out there. This is something that should be encouraging to everyone.
There was also a lot of discussion about SMTs and Communities.
The hope on Communities, according to @elipowell, is that they go fully live in the next 60 days or so. They are staging it in and one of the things that will accelerate it is for the user base to post in the communities. The goal is to have real world, thriving examples.
Another piece that Eli reveled is that Hackernoon is looking into the possible use of Communities to adjunct their website. This is a fairly decent sized community and would be a great addition to the Steem platform.
Finally, the question that most everyone is wondering is when will SMTs go live? When is the hard fork going to take place?
Vandeberg also took a shot at this one stating they are still uncovering some bugs in the software. While he would love to get it out as soon as possible, this is not going to happen until they believe there will be a seamless release. As long as they are still finding some glitches, they are going to keep updating and setting up new testnets.
One point he did make is that he is optimistic that it can take place before the Bitcoin halving that is taking place on May 12th.
Thus, we could see SMTs live within the next 90 days.
Here is the full recording.
http://www.steempeak.com/dtube/@aggroed/8zdzood3iey
There we have it. Information that came straight from the different sources. Justin Sun has a serious interest in Steem and is putting some money up to back that. Communities and SMTs are moving forward and the belief by both Eli and Vendeberg is they can be live in the next 60-90 days.
A lot of great stuff happening at this time. Things are getting very exciting.
If you found this article informative, please give an upvote and resteem.
Posted via Steemleo
It's funny some steemians were worried if Justin was involved because they think he is a poor investor. I have no opinion but that's what I'm hearing. Perhaps just jealousy
From what I can see, an investment in Steemit Inc, if that is the case, would be a sound investment. The team is getting its act together and rolling out some software that is needed.
Posted via Steemleo
Great to hear. I don't follow you for bearish news about STEEM ;)
Justin is worth like 92 billion dollars according to Google so I find it interesting how ANYONE can say he’s a “terrible investor”
Thanks for sharing some updates about what is happening in our community and on our blockchain. I appreciate being able to come to your blog for information like this.
Thank you for the compliment. I am glad that you find my posts helpful and informative.
I cant ask for anything more than that @sumatranate.
Posted via Steemleo
Now the question is: is he referring to Steem or actually Steemit Inc? If I understood him correctly, then Sun is pretty much only interested in increasing the value for TRX & BTT.
Hard to know when people use the terms so interchangeably.
He did say it was part of the investing and let other people run it...
To me that sounds more like Steemit Inc.
Posted via Steemleo
Great news, thanks for continuing to give us the 411.
Posted via Steemleo
Always a pleasure to bring updates like this to everyone.
Posted via Steemleo
In a DLive stream (I transcribed it) he said he wants to expand to decentralized social media.
It only makes sense since that is where he is starting to go. I believe that most are going to branch into social media. In fact, it only makes sense to make your platform social media when you think about it.
Posted via Steemleo
That is super interesting. And very exciting! Thanks for sharing the news, @taskmaster4450.
What? are you saying that @itstime is Ryan Selkis?
You are right. Corrected that. I wasn't even thinking this morning.
Posted via Steemleo
Must have been too excited...
If Hackernoon is going to adopt the SMT protocol, then that could be huge! The word will spread out like wildfire in the computer nerd community if a lot the users get excited about the possibility of earning crypto for their contributions.
It's better to fix all the bugs to make the release as smooth as possible than to rush into releasing SMTs as soon as possible.
I cant agree more @markkujantunen.
I would prefer them to go a bit slower to have less headaches when the hard fork is done.
Posted via Steemleo
Always good to have good updates of this kind especially at the moment I have less time with my crypto kid. Thank you so much for your value here.
It is a joy to bring out updates like this @chesatochi. We are getting closer to some game changers actually going live.
The rest of 2020 is going to be very interesting.
Posted via Steemleo
Something is not adding up.
Why would he 'invest' in steem and forfeit poloniex users' steem?
Taking steem off the exchange is not consistent with expanding steem's reach.
Is he buying stinc's ninjamined stake?
Hopefully, our dev's are on the ball and ready to fork out more bad actors if that proves to be the case.
Hard to know what he is after. He could be investing in Steemit Inc the company.
Posted via Steemleo
You mean pulling their bacon out of the fire because they failed miserably at running a business?
It remains to be seen if that guy is any help.
That's exactly what I would do in his place if I was a morally corrupt scammer that wanted to stack up on Steem.
I'd delist it with a short notice no one sees. When ever a exchange delists a token there's always a bunch of that token left there. If you make it so rarely anyone sees your delisting then you're left with 800k Steem like in this case.
He already controls a whales stake and didn't have to spend a dime.
It's not looking good on the homefront, imo.