Justin Sun paid millions of dollars for lunch with Warren Buffet. The lunch date allows him to bring seven guests. Sun talks about promoting blockchain technology to the outspoken crypto skeptic, Warren Buffet.
The possibility of converting Buffet to a Bitcoin enthusiast seems unlikely, but Sun’s appearance on CNBC is likely to reach potential investors who might otherwise never even consider investing in Bitcoin or other cryptocurrencies. I like to see this kind of interaction with the traditional investment world. I think it will take some time, but as more companies discover and invest in blockchain, I think the interest in cryptocurrency will increase.
The Samsung Blockchain Keystore better known as SBK allows consumers to control their data by providing a platform to manage digital keys with unprecedented security. In order to increase the level of security, private key information is never stored in the cloud or exposed to the Samsung Operating system. This added security helps protect information from malware and other security threats.
Tron will be integrated into the Samsung Blockchain Keystore software development kit. Users will be able to use a preset PIN number and fingerprint authentication to authorize a digital signature to use with the Android app.
Obviously this integration will simplify the use of blockchain and cryptocurrency for Samsung users. This should introduce many new users to crypto and blockchain. Will Steem be able to take advantage of this partnership? Only time will tell.
The title of this post should be “Justin Sun buys Steemit and everyone is freaking out!”. I understand the concern of the unknown and the fear of change, but I think we are overlooking some of the obvious positives.
First of all, Justin purchased Steemit, not the Steem blockchain. Steemit is basically a community that uses Steem. Why would Justin purchase this community if his plan was to change it into a Tron community? The Tron community already has a huge following and quite a few dapps in the entertainment genre. In fact during the recent crypto bear market, Tron was one of the few communities who maintained a high profile on Crypto Twitter and YouTube. When most the crypto community almost disappeared, Justin Sun was still in the news, explaining, promoting, and introducing crypto to new audiences. In my opinion, this was one area where Steem faltered. I think Ned and Dan were brilliant in their creation of Steem and Steemit. I will always be grateful for the opportunity these two provided. I do think, however, that Steem could have used a full time PR guy. We were so busy talking to each other about how great Steem was that we neglected to bring in new people.
In this respect, I think Justin Sun and the Tron community might be just the medicine Steemit needs. When I’m on Youtube I see dozens of videos about the latest Tron dapp. Transfer that enthusiasm to Steemit and we may see some much needed new blood and new users on Steemit.
For the record, Steem was my first altcoin and I love the community. By the same token, I also invested in Tron over a year ago. I didn’t know that much about Tron, but Justin Sun was everywhere talking about it. I kept hearing that Tron would change the entertainment community. After hearing this from Sun and the entire Tron community, I realized I did not want to miss out. If Justin Sun and his Tron community can bring some of that enthusiasm to Steemit, I welcome them.
Hopefully, we will finally find an answer to an easy way to on board new users as well. Growing the Steemit community is a good thing for all of us if we can stop freaking out long enough to realize it.
One of the things you notice when looking at a list of the top Tron dapps is that many of these dapps are gambling dapps. Tron continues to have a strong following in the gaming community as well. Tron continues to trade in the 2 cent range.
The price of Steem jumped over 17% based on the rumor that Justin Sun of Tron (TRX) had offered to buy Steemit. At this point the buyout is only a rumor, but that did not stop the price of Steem from rising over 17%. The price has stabilized to an approximate 10% gain as the rumor has not been confirmed.
The Steemit platform is a unique blogging platform that is full of crypto savvy bloggers who use the blockchain to post content for pay. Bloggers are paid in Steem which can then be sold or used to “power up” their Steem account.
Justin Sun has both a strong social media presence and an active community. The combination of this community with the Steemit community could be an interesting dynamic in the crypto world.