Okay so I actually am pretty annoyed that I didn't take my own advice.

Yesterday I sold a powerdown for 14.5 cents even with the full knowledge that ol' J-dogg is aggressively defending 17 cents.

Once again Steem is artifically propped up to 17 cents.

I threw away free money for little reason. I keep thinking he's going to abandon his position and let the price of Steem fall.

That's obviously not going to happen.

We need to change our strategy.

Rather, everyone should be using my strategy.

JSun has shown us time and time again that he is a very disciplined trader. He is extremely tempered and does not make rash decisions in the market. This is contrary to his actual personality and actions regarding this situation. I assume there is a very talented professional crypto trader in his employ that makes a lot of these decisions for him.

To anyone trading Steem for Hive.

I implore you to cease and desist immediately. I've been dumping into Bitcoin all the while. This seemed like the obvious play at the time, and this is much more the case considering the present circumstances.

We don't know how much Hive Justin has, but it's obviously a lot. There's a pretty good chance he is slowly selling off Hive in order to buy Steem to keep the prices more even.

Hive > Steem looks really bad for Justin.

And yet, even though he has the power to push the Hive market cap lower than Steem, he isn't doing it. Why is that? We have to assume he has bigger plans.

We should allow Hive to dip below Steem in the short term to test his sell wall. Will he allow the sell wall to dip below 17 cents if Hive is trading below 17 cents? We don't know. We need to find out. We should not be allowing him to sell Hive at an inflated price just so he can prop up the value of Steem. In my opinion, we should be willing to let Hive dip back down to the 10-12 cent level in the short-term, holding our bags in Bitcoin until we can start buying coins from Sun at that much discounted price.

Justin might have up to 10M Hive to sell, but I assume we could still have up to 100M Steem to sell. This is a very crazy and unique situation we're in, and we should tread lightly and not make rash decisions. How smart is it to sell into a limitless buy wall? The price can only go up in that situation.

I'm almost hoping that the price of Bitcoin crashes back down to $4k at this point. Justin has shown multiple times that he's willing to defend the 17 cent level even when the entire market is crashing. This extremely risky strategy needs to be exploited.

Breaking News:

https://steempeak.com/@edicted/another-thursday-another-steem-dump This post has been censored on Steempeak. It does not show up in my feed or anyone's who reblogged it. What a surprise.

In any case,

To get a feel of what's going on we must check the stats from @penguinpablo

https://steempeak.com/hive-133987/@penguinpablo/daily-steem-stats-report-friday-april-3-2020 https://steempeak.com/hive-133987/@penguinpablo/daily-steem-stats-report-thursday-april-2-2020 https://steempeak.com/hive-133987/@penguinpablo/daily-steem-stats-report-wednesday-april-1-2020

About a million coins a day are being transferred to exchanges. Coins are being dumped transparently by the Hive community, yet the 'buyers' of these coins are not powering up. This is yet further evidence that indeed Steemit itself is propping up the price.

Hive became a lot more decentralized when we dumped 80M coins into the @steem.dao, Steem is becoming more centralized due to this buy wall and the Hive community abandoning ship.

Value of decentralization?

We all assume that decentralization is worth so much. However, Steemit is a blogging platform that pays people. If people are getting paid, no one is going to care about how centralized it is.

Biggest threat?

Recently it's been announced that Justin is implementing a MakerDAO system on Tron. I've been talking about doing this exact thing on Steem for over a year now. Tron is about to have a better stable coin than we do, and if he brings that same service to Steem it's going to look bad for us. That being said I can't really imagine Sun out-developing us... and if he were to build such a feature for Steem then porting it over to Hive might be a relatively trivial process.

Conclusion

Justin Sun is clearly propping up the price of Steem at 17 cents. He expects us to continue "rage selling" for the next 11 weeks at least. Perhaps we should not play directly into his hand.

At the same time, there is a great chance that this whole "master plan" of his fails spectacularly just like his silly little hostile takeover did. The users he is supporting aren't powering up, they are leeching the system to the max. There are also other wildcards like what ever happened to turning Steem into a TRC token? I think one thing is clear: get your coins liquid so you have options. Good thing most of us are already doing this. However, don't just blindly dump your coins into Hive, as he is fully expecting this play.

Return from Stop Buying Hive: A Temporary Measure To Undermine JSun to edicted's Web3 Blog