Steemitans and Twitterers, after four beautiful years, I have sold Steemit to @justinsuntron. AMA tomorrow at 9am PT.
Ned Scott, ex-CEO of Steemit, is not the first crypto founder to sell to Justin Sun. He likely wont be the last. But his now-deleted tweet rivals the most controversial blockchain announcements of recent years.
I have to say that I feel a bit of guilt in retrospect, because I think that my conversations with Tron ultimately played a role in getting our two organizations to talk to one another, says Andrew Levine, the former Head of Communications and Advocacy at Steemit.
He worries that his overtures ushered the proverbial wolf into the henhouse. A gruesome ending of sorts seemed inevitable.
When Justin Sun announced the purchase of the Steemit platform, along with 20% of the total supply of STEEM tokens, the Steemit team was stunned — they learned about the details of the acquisition along with the wider community. A centralized takeover of a supposedly decentralized passion project immediately took the shine off the whole project.
So, we had a tough time, he reflects.
Levine soon resigned, along with a number of his co-workers.
This is not the story of precisely what happened, when, or according to whom — that has been documented elsewhere. Its the story of how one mans passion project became subsumed by anothers ambition… and how that interplay has implications for the wider blockchain industry.
The greatest blockchain youve never heard of…
In describing how they deal with a shocking or traumatic event, many choose an inspiring cliche, plucked from the motivational posters that used to adorn office wallspace.
Every cloud has a silver lining. The phoenix rises from ashes. Hang in there!
But Levine subscribes to one in particular: There are no failures; just learning opportunities.
Recounting the tale of the Steem blockchain, Levine makes it clear that learning opportunities are available in abundance.
I think Steem is going to go down in history as the greatest blockchain youve never heard of, he says.
For those new to the saga, Steem (the blockchain) powers Steemit (the social media platform) which enables contributors to inter ...