It's a kick in the face observation that as Justin Sun and his new acquisition Steemit are a day away from property theft, its value is rising.
I've been following this scam since before the hardfork and it's not pretty. Time along with angry consumers and help from the FTC usually resolves these matters.
But in the meantime, the people who helped build Steemit and now HIVE are basically shit out of luck. When and if a settlement does occur, experience shows that losses are hardly ever fully recovered.
And who could put a value on what could've been done with that kind of financial resource if it hadn't been stolen in the first place?
Several posts are already warning Steemit Witnesses about complying with and serving code from the new Hard Fork.
It seems legal action is already prepared and ready to be filed against Steemit and Justin Sun in particular. See this thread from as a prime example.
https://esteem.app/hf23/@brianoflondon/letter-to-witnesses-do-not-run-steem-hard-fork-23-hf-0-23-0
In the post it reveals two different letters to Steemit Witnesses. One has a great quote worthy section that drives home the point.
It is the difference between walking into a bank and giving $100 dollar bills to 80% of the people there (what Hive did) and walking into a bank and taking $100 from 20% the people there (what hf 0.23 does). It may be mathematically and computationally similar, but one is perfectly legal while the other is completely illegal.
You'll find a link in that article that leads to a class action lawsuit by JPB Liberty. They are already suing Facebook, Google, and others for their 2018 censure of Crypto related material. It seems they are ready to drop the hammer on Steemit as well.
Finally, Some Love Coming Down To Alts
A pleasant surprise I noticed in the markets today is some trickle down affect from the sustained price of BTC.
I'm not a huge Hodler, but my ETH is up and there's positive action with Ethereum right now. Reddit just opened tipping with ETH on their crypto and gaming subs.
Link has been lagging for days behind the progress of other coins but it seeing some positive movement of late. It's another coin I hold and am watching.
Tezos has been performing well and is, perhaps, the most promising coin I Hodl besides ETH. It's staking feature allows you to earn more XTZ as you Hodl it.
And finally, HIVE is hodling strong around 31 to 32 cents. Most of my Hodlings lie there so it can't moon fast enough for me. I'm guessing you feel the same way.
Are Your Alts Rising? Drop A Suggestion In The Comments!!
Thanks for following along. Speak up in the comments if you have any advice or just your 2 cents to add in.
Happy Hiveing!
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