Blocktrades Proposes New Blockchain Against Justin Sun Steemit

Blocktrades is the latest account on the steem blockchain to take a stand on the ongoing tussle for authority in the steem blockchain. We have witnessed a lot of issues ever since Ned sold Steemit to Justin Tron. On this power tussles, Blocktrades made a post a few hours ago stating that it will not Compromise with Justin Sun.

Blocktrades made it clear that Steemit Inc value is nearly at zero now.

Below is an extract from their blog post ”

Before long, we will launch a new coin that is essentially a re-branded hardfork of Steem, airdropped on all Steemians, without airdropping to the Steemit stake. This new chain will maintain all our collected posts and our transaction info and will support all the same Dapps we’ve come to know and love.

I believe all the economic value will move to this new chain and the chain with Justin’s stake will ultimately just die. He can keep his chain running for a while, trying to find uninformed people to sell it to, but it’s not going to last long with no devs, no real plan from Justin on how to keep it alive, and most of all, no community to support it.

In other words, I believe the value in your existing Steem coin account will migrate to a value in this new coin. And I believe the value (i.e. the price) of the existing chain will just drop as Justin dumps on that chain.

I see this as a big win for the community and particularly existing Steem holders, as we free ourselves from an entity that has just been dumping on us economically for a long time, without properly returning that value with enough technical development or publicity.

Another cool thing, from a marketing perspective, is we will be a literal demonstration of how a community is what gives a coin value. We should make every effort to capitalize on this in cryptocurrency media, just as we’ve done so far in our DPOS vote fight with Justin.”

Read the full post here.