Did Justin just? That's kind of catchy.
It seems like a lot of things went down within days at the same time and to me, it feels a bit too coincidental to let it just a bunch of random activity completely unrelated to one and another.
Seeing how Justin has been acting out, his attitude is always to win. No matter what actions he needs to take. I don't see it too far off that he will do whatever it takes to crush the competitions and let us be real, we kind of made hive a direct competition both against him and his pride. With this, we saw revengeful acts as expected.
However, I am surprised how far Justin decided to go with this though and it leaves such a sour taste in my mouth to think how many people got in trouble with his reckless actions.
Before we move on this is mostly just based on my own speculation, so don't take it as a fact-sheet, please. Luckily I am indeed allowed to share my own opinion on this blockchain So why am I calling this a coordinated attack? let us break down all the events:
- Pumping Steem
As Hive slowly climbed over steem in price it was clear Justins spot-free honor was at stake. If anyone believes that a normal person would buy any steem after all of this bad reputation Justin managed to give steem, then I would like to give you a reality check, and that is looking from a buyers perspective: Steem is a dieing, centralized blockchain with a person in the top who clearly is not to be either trusted or predicted. Even with his censoring, any person would see this.
Nobody is buying steem, nobody but Justin and whatever connections he has who are gonna manipulate the coin to the end of the world. That is why we saw a huge spike recently in steem(that's falling slowly again now). All that was, was an attempt to get above the price of hive(at that time was 19cents, vs steem's 14cents).
Justin wants to show his steem is the winner here, so of course, nothing stopped him to go further all in the name of his ego.
- Dumping Hive.
I think everyone would expect a dump in hive coins, many people brought into steem before the hard-fork just to get free coins, of course, those people are selling, fair game. But doesn't it seem peculiar that hive really just dives with 40%- within hours?
Coincidentally just as steem pumps?
I believe this was really to create a large space between them and hive. Some people say there's gonna be more dumping on the way but actually I think the otherwise and here is why:
Someone brought shit tons of steem before the hard fork, that was clear on the price where steem were flying to over 200% almost. I bet you that steem never powered up, and I bet you even more than many of those brought coins were just sold, a coordinated sell to really drive down the hive price.
Now the pump of steem and the dumb of hive isolated might not look too far off reality. But here comes the biggest part:
Yes I made that picture myself, Yes, I suck at cropping.
- Freezing major steem account
Through an absolutely awful excuse, Justin with his mouth full of salvia found some of the bigger accounts on Steem and said;
Yeah, you are not going anywhere with that fortune.
Millions upon millions of steem that most likely would over the next couple of weeks be sold either to something else or even more likely into Hive now sits there, unusable for the only reason that Justin wants to see the price of steem go up and Hive down. He doesn't care about who the accounts voted for in the past, he doesn't care about the steem blockchain, he cares about profit and pride.
Freezing these accounts is a kind of Justins way to stop a leakage with gaffa tape. It might stop the water for a while but eventually, the water will pour through again. (Yeah, I also suck at metaphors.
So from pumping Steem, dumping hive and make sure some of the wealthy people cannot sell any steem or buy any hive, make a pretty well-coordinated attack to get ahead in the race.
At least for the short-term perspective, but the finish line is far away.
Justin and steem are gonna go down. Nobody in their right mind would want to have a stake laying there when he freezes personal accounts and puts lie after lie out there. Even people who don't care about decentralization and just sees profit and investment are not gonna touch steem even with gloves us.
His actions are so short-sighted it hurts my eyes. the temporary pump of steem will quickly reverse. The dumb of hive will fall into stronger hands. People will sell more steem for hive, especially those who got their funds frozen(and trust me, they will get it back, that is why Justin made it a soft-fork and not a hard-fork, he knows they will be coming for it).
Justin is doing us all a favor, more hive per steem is always appreciated, let us be the ones profiting from his actions. At these prices, I am going directly to get hive for all my steem until prices reverse. If things stay like it is for another 10weeks and I sell my remaining 42k steem at these compared prices I will have over 100k Hive!
Don't panic guys, as times goes we will slowly move away from Justin and his steem.
Until then:
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