HF21: Heaven or Hell?
It seems like there were a few trials and tribulations while the STEEM blockchain went through its 21st hard fork. I tried posting soon after the technical fork here but ran into some issues. I couldn't upload photos or check on other user's wallets or interact with the Steem Engine sidechain for a period of time.
So I went to bed...
But when I woke up, my post had been posted! So seems like HF21 is not that bad. At least the transition was aight.
The real question for me is
What happens to bidbots now?
If we look at the top bidbots, we get an idea of how much STEEM is locked up there because of the ability to earn returns:
- @therising - 3,296,516.652 STEEM POWER
- @smartsteem - 3,011,321.463 STEEM POWER
- @appreciator - 1,699,378.639 STEEM POWER
- @rocky1 - 1,544,063.228 STEEM POWER
- @buildawhale - 1,360,661.697 STEEM POWER
Just with these top bidbots, that's a huge sink of 10,911,941.679 STEEM. According to @penguinpablo's most recent STEEM on exchanges report, there are about 95 million STEEM on exchanges. So we are looking at a worse case scenario (The Scenario from Hell) of an increase of 15% to 20% of STEEM supply on exchanges assuming that all bidbots power down and their delegators send their STEEM to exchanges.
The best case scenario (The Scenario from Heaven) is that those delegators find alternative places to delegate their STEEM and none of them reach to the exchanges. Maybe they want to delegate to the bidbots of great up-and-coming projects like @leo.voter or @one.life and earn some SCOT tokens.
The truth is probably somewhere in the middle. But that is what I'll be watching for the next few days to try and get a feel where STEEM price is headed.
Happy Hard Fork!
PEACE ✌🏼
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Interesting reasoning.
But in my opinion, there can only be a delegation movement at @smartsteem, because its delegates are hundreds or thousands and no one holds a delegation of over 1 million SP.
While for others, one delegate holds more than half of the SP:
@freedom in:
@appreciator 1,513,472.877 SP
@rocky1 1,513,472.877 SP
@therising 1,513,472.877 SP (46%)
@blocktrades in:
@buildawhale 1,325,927.170 SP
So the real question is who the heck is @freedom? And where did you find the delegatee details from?
https://steemworld.org/@freedom
But who dat? What is @freedom thinking? What if he loses his freedom because payouts decline? After all, there are a lot of other PoS options out there these days.
Posted using Partiko iOS
It's all delegated power so people will us it other ways to earn steem. You can use dlease and get daily pay outs. Follow a voting trail nad earn curation rewards or some of the other projects that are out there. I don't see it getting sold off. Most of it anyway.
Let’s hope! Now you can lend your crypto on Binance and get a pretty decent return though.
Posted using Partiko iOS
just a start we will have to see its consequences
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