I must admit, I'm feeling pretty good about the softfork today. The weight of Steemit's ninja-mined stake was a burden to this entire network since inception. Now we are in a place to dictate our own fate. Let the Steem community sink or swim together rather than on the whims of a single stake holder (and potential competitor).

What about development?

I have to wonder, does the Steemit Inc dev team have even less job security now that this fork has been implemented? First, the company gets bought out. That's always a nerve-wracking situation, but to have the company's public accounts frozen by their own community? That's gotta be a serious mind-fuck.

Unfreeze the accounts.

What kind of assurances do we, as a community, want from @justinsunsteemit? Basically that he not use his massive pre-mined stakeholding against us as a community. Seems reasonable. Of course we'll want that in writing. We've come this far. We're a bit past pinky-promises. Although it does feel odd to dictate terms-of-use to the top stake holder, here we are.

Leave them frozen.

Now this is a hard road, but sometimes you get forced into taking the hard road. So maybe it will happen. Who knows. Development will be a lot more difficult. We'll probably have to focus on code documentation and training new developers a lot more than we are today. I think the SPS makes these tough transitions a bit easier though. Good thing we have it.

Conclusion

We are coming to a fork in the road. Either choice can lead to extreme hardship or salvation. Personally, I'm liking our odds at the moment. Unfortunately I don't have any money to back up my statements and buy a bit more stake in the platform. Especially now at a time where the market is down.

Prediction update

Speaking of which, I've been waiting for Bitcoin to crash around $2000. It appears that crash has come. If the Bitcoin halving boom/bust follows the same pattern as Bakkt:

Which would give us around 3 weeks of upward momentum followed by high volatility and an eventual crash. This comes a bit earlier than previously envisioned, which is nice because we'll get some extra information 2 months before the actual halving takes place. If we indeed do get a pump over the next 3 weeks, we can think about turning bearish on the market a little. If the market goes flat or declines, I personally have a wait and see attitude until April. I'm definitely expecting another round of halving hype (or are people calling it Corona Virus now?) before the event occurs. I'm also betting on miner capitulation in response to the mining rewards being cut in half.

Honestly though, these timelines are starting to sync up pretty well. Peaking in three weeks gives the market plenty of time to be volatile before and during the halving event. It also gives some extra time for the market to cool off before crashing one last time. We may be seeing a Bakkt pump/dump clone. Sure would make it easy to predict, so we can hope.

Unfortunately, I am a bit disappointed. My original price prediction was a peak of $20k-$24k. However, if the next move up mirrors Bakkt speculation that would give us an 80% boost to around $15k-$16k. I really thought halving hype would have carried the market further than this, but maybe not.

Pentaskill

I've also been working on my game a bit more. Still looks like trash, but then again it has so many bugs I'm not worried about the look at this point. Baby steps. It hasn't been easy learning JavaScript with a rotator cuff injury. I guess I'll talk about it a bit more about it tomorrow, and work on it some more for now.

Posted via Steemleo

Return from A Huge Burden Lifted to edicted's Web3 Blog