Like you do in life with any major decisions you pencil some ideas for pros and cons. I think there are some glaring differences that have been jumping out over the last few weeks.
Steem has been meandering along for a couple of years right now as Ned and Steemit have not exactly funded the development like it should have been. For Steem to reach it's genuine potential it needed more than just bread crumbs. I think this is the massive conundrum that hasn't really made sense to the community. Justin bought the mined stake and with his marketing skills he had the keys to open the next level yet failed to convince anyone through his actions. The new development offered so much, but we saw it and he didn't.
What are the cons of staying with Steem as we know it? Steem has changed over the last month from something bearable to something that is just not workable long term. I do believe even though Ned is out of the picture he still has Justin's ear and has been feeding him advice.
- The key personnel that developed Steem even though on a shoe string budget have left. Steem is dead regarding any development as Steemit has no one left.
- The ninja mined stake is still a major threat that could be used not only for governance, but also for manipulating the reward pool.
- Delegations that have been awarded recently don't make much sense and someone has to be guiding him in a certain direction.
- Justin has no clue what Steem is and as the figure head the block chain it needs someone who is up to speed or to stop interfering and leave it alone.
- Too many conflicting messages on social media leaving to total loss of trust.
- Power down times being shortened putting accounts at risk from hacking.
Are there any positives? This depends on Justin and how he reacts going forward. The community will decide long term as they will move to the chain they want. Who knows what happens to Steem long term as it still has a chance all depending on what development happens going forward. It could be a massive hit in a year or two years time with a thriving community. I am sure Steem will live on in what form though it is anyone's guess.
Hive has many pros as learning from all the shortfalls of Steem will surely benefit the sister chain. If you know what is wrong through experience you can make things that much better.
- I expect the majority of the community will be here working hard to make sure their new home succeeds.
- The press coverage and awareness of what has gone on will no doubt help drive it's growth. So much has gone on that has generated loads of interest so people and investors will no doubt be looking out for this new coin.
- Hive will be where the developers are as ex Steem developers will be here. Last time I read something about this there were over 30 developers throwing everything into Hive. Most likely there are a lot more by now sticking up their hands to help.
- No ninja mined stake and no Justin interference which is what everyone wants as suddenly the threat of one account dumping has now been removed. This should go down well with investors.
- SMT's should be up and running fairly quickly and another draw card for attracting new users.
- A proper decentralized governance that everyone can get behind. Decisions that are made by the community for the community.
I know there are more issues that can be added to both block chains and the only negative right now I have for Hive is that we have no clue what exchanges will agree to list the new currency. I am confident someone like Bittrex will as the relationship seems to be strong and strengthened over recent developments with the hostile take over. Why wouldn't an exchange list with the Hive knowing that there is a strong community backing this project.
For me personally this is probably the most important time to be part of what has happened as it is like starting a fresh yet also having history knowing so many people already. This is not starting as a newbie, but just moving sideways into a new home.