He didnt really go over anything he said he would.
- No real talk about Dapps migration
- Skipped out on the Token swap talk
- No giveaways to TRX holders
- Breezed over "accelerator program" with absolutely no explaination of it at the very end.
Replay: https://dlive.tv/p/tron-live+Von3fIwWg
Stream with chat:
(Justin Sun Picks Nose)
(Justin Speaking Chinese to someone)
Ned: Do we have a live channel where we can see questions?
Justin: Yeah, so, ah, I think the live channel shared the link, youtube link, I dont know if you can see it, I will share.
Ned: It's in the telegram group?
Justin: I will send it to you
It's live now
Ned: Oh we are already live?
Justin: Yeah Exactly
Ned: Are you ready to go?
Justin: Just give me a second trying to open up all the live here.
So I can see DLive and the youtube and its ready to get started.
And also, on periscope.
(2:35) Justin: Yeah sure, I think we can get started. Very excited to see everybody. Today we have our guest, Ned is here today. And we are going to talk about the collaboration between Steem/Steemit and Tron.
I would like to Ned first for introduction for Steem and Steemit and we can go from there.
Ned: Hey Justin, thanks for putting this together, I was under the impression we were going to do it under Manderian, I guess we will do it under english (Joking, I assume)
Says something in Chinese
(Awkward silence).
Well good, I'm really happy to be on the call. Obviously yesterday was a little bit crazy announcing basically Steemit has partnered with Tron, I basically sold all the shares in the company, well (stream cut out) I sold absolutely all the shares in the company. It's moving on to a new place, it's going to be evolving and that's super exciting. A lot of people have a lot of questions so I think our goal today is to talk a little about background for people who are coming from the different communities in learning of the other community. And also just to answer some questions that some of the community members may have from either side.
So I think that is super exciting, you did a post last night, we had a press release go out, and your post on Steemit did really well, I see you made $150 worth of steem.
Justin: Yeah I made lots of money
Ned: Nice. Well that was great, you got like 300 comments too, I think that was a great introduction to the Steem community. Hopefully anybody from the Tron community can go find that post, I think your handle is 
(5:05) I think maybe I should open up and do a little introduction to Steem and Steemit for the Tron folks, what do you think of that?
Justin: Exactly, So because some of the people come from the Tron community but maybe some of them just follow me for random reasons so they may not even know about Steem and Steemit maybe you can give us an background, how you founded the company and what Steem and Steemit is doing.
Ned: Yeah, absolutely. So, Steemit is actually one of the older companies in the cryptocurrency space. It started all the way back in the beginning of '16 and the ideas and concepts , two guys that were working on the ideas for it actually began even earlier than that, that was Dan Larimer and I at the very end of 2015. Dan had been in the space for a while, he done a project called bitshares, I had been in the space, mostly focusing on Bitcoin (stream cut out) and how I would get my feet wet and do something. So we started talking, I was a big fan of Reddit, Dan had been a cryptocurrency engineer, so the ideas for Steemit really just came out of wanting to do something in both worlds. Basically, there was a discovery in our conversations that a cryptocurrency could function a lot like a point system, a lot like reddit has reddit karma. Where points are distributed as upvotes and likes, a cryptocurrency could be like that too. Which led to the hypothesis that if you had a really powerful distribution mechanism for cryptocurrency, it could bring great value to that cryptocurrency. That was the initial hypothesis about the whole thing, but it evolved into much, much more. It evolved into a thriving social platform with a lot of very excited users, which you guys experienced yesterday. So after an initial period of growth in 2016 and 2017 Dan actually left the company, he left the company towards the middle to end of 2016 and went on to do another project, EOS. And Steemit went on its own direction after that. I wanted to make sure we doubled-down on the concept of community, like reddit has. And also, open up a series of financial tools, for the communities to use, to make the communities successful where communities online have never been. Because really there has never been financial tools for communities online.
(8:00) It is very difficult to do fundraising and montetization and growth, in an economic way, you know, anywhere on twitter, anywhere on reddit, anything like that, but if you just kind of merge the concepts in your head, finance and media should go together. In a free world, you owuld see a lot of exciting activity there. I think the closest thing like that to date with some of that stuff would be go-fund-me or kickstarter, however, I still see a niche that not met which is community building with economic tools. So that has been where some of the products that Steemit has been working on have come from. And those products I would call communities, which is ready to be rolled out to steemit.com, and also those financial tools which are called Smart Media Tokens. And Smart Media Tokens are an adjunct to the steem blockchain. So along with launching Steemit the website (9:00), we have also launched the blockchain, Steem, and Steem has evolved just as much, if not more, than Steemit.com since 2016 and really the Steemit community is about the combination of these two things, Steemit.com and Steem the blockchain.
(9:22) So I guess back to the story, Dan left the company in 2016. I had been 51% owner of the company, Dan had been about 40% of the company, he had given the rest of the shares to the people that had been in the bitshares cap table with him and so I kept those people along and he left the company, he left and went and did EOS. Was now talking about doing a social media platform. I actually called they were going to run into problems when they left because of the way things were (10:00) designed and all that sort of thing. And it's funny now, it's quite (?) what I put out there, because I heard they are not going to use the EOS blockchain. So I think that is kudos to what we continued to do at Steemit and I think it is why it is another reason why I think it is great that you guys are getting involved.
So anyway, after that happened, the company continued to innovate on these products and now I think I should speak to kind of why I have decided to moved on, and made sure Tron got involved, its really two-fold. One: I'm moving on for personal reasons, I think it - I am at a point in my life where there are a couple things i need to do in my personal life that I need to take care of and theres a couple other companies that I am working on behind the scenes, privately. So in the life-cycle of business and my personal life, it was just time. That was on the one hand.
(11:00) On the other hand, it was very important to me that Steemit would continue on, and be able to thrive. And thats where Tron comes in because Tron has a lot of resources, it has Justin Sun brings a lot of vision to the the blockchain space, to Tron. And I think that Steemit fits right in with that. If they can apply their open-mindedness, and their resources, and their great communication skills, I think it can lead to greater heights than Steemit has to see yet. So I am super excited by that, I wanted to make sure the project would continue, that the community would continue to have leadership and great opportunities for growth for them as individual members of the community.
(11:50) So Yeah, its been a long journey, and now I am excited to see where this ship sails with you at the helm Justin. So, I think that's good, do you have any questions or do you want to jump in and do the same? I think the Steem community would like to hear from you as well.
Justin: Yeah, sure. So, first of all, I have been a fan of both Steem and Steemit for quite a long time. Even at the beginning of 2016, I have been a fan of social media for quite a long time, everyone knows I am very active on Weibo, very active on Twitter, and very active as a reader in (not sure what he is saying) so I have been spent so many years on social media, so I know the value, between social media and blockchain technology. So eventually, we can combine blockchain technology with social media. Even though, I feel steem and steemit is still an experiement for social media and blockchain technology, but I think we are one of the best in this industry to explore in the possibility and we have a lot of the technical know-how how to operate a better social media / blockchain community. So that is why I have monitered the (?) of Steem and Steemit for quite a long time
(14:00) while I was focusing on doing Tron projects. For those who didnt follow the updates of the Tron projects, I will give you guys a very brief introduction of the Tron project. So Tron project is funded in 2017 so since then, these three years, we have done so many things, we have launched the Tron (?) right now, it is one of the most scalable blockchain industry, as you know, today, we have over 700 dapps that is running on Tron platform. And also, we acquired Bittorrent, Bittorrent is one of the oldest decentralized technology company since 2003. Right now, bittorrent is still the largest decentralized protocal in the world.
(15:00) It is even more than bitcoin. In bittorrent, bittorent ecosystem, we have over 200 million active users and bittorrent inc, the company (I have no idea what he is saying) protocal. And the same time, we occupy over 50% the active users in the bittorrent ecosystem so around 100 million active users. So after we acquired bittorent, we ship a lot of the good product, we ship utorrent and bittorrent mac, so if you a mac user or windows desktop user, you can try to use utorrent and bittorrent mac. It's completely different user experience, but with much better
(16:00) solutions so you can see the files and the videos, just on mac instead of downloading and finding a player to play those videos. And also, we ship bitorrent (speed?) this is a plug in to help you to spend cryptocurrency to accelerate your downloading, and also seeding to earn more. We also ship btfs, this is a decentralized storage plan. We have nodes all over the globe, a lot of the utorrent and bittorrent users (?) btfs node, to earn money, and of course, you can spend btt to store your files on other peoples computer. Its completely decentralized, everybody can use it, everybody can participate in this kind of ecosystem.
(17:00) And of course, we collaborate with dlive, thats the platform me and Ned doing livestreaming right now. it is a decentralized livestreaming platform, we compete with twitch lots of the large companies, gaming, live streaming, and the same time we are exploring the possibilities of decentralized live streaming, hopefully we will launch this year, and also, at the same time, we are going to expand our team, so when we acquire bittorent, it is around 30 40 people, right now we have like 100 people in San Francisco. And the same time, we further collaborate with Poloniex, Poloniex, of course, everyone knows, is a very prestigious exchange since 2004.
(18:00) Poloniex is one of the longest standing blockchain exchange in the world is has been 6 years, so for those who didnt understand cryptocurrency exchange, it is just a place you can exchange your crypto to stable coin, and exchange your cryptocurrency into other cryptocurrencies. So we collaborate with poloniex and poloniex these days is 100% focused on tron ecosystem, so it isnt just the trx lots of the tron ecosystem tokens like btt and (?) and we will continue to focus on tron ecosystem and of course other crytpocurrencies as well.
(19:00)And here today, we collaborate with Steemit and the Steem as well. So in the future, we wont rush to (sudden?) token swap, we will keep the status quo, and also, mainly focus on product, we will decide to release a new version of the product next week. This has been in the beta version for quite a long time, including lots of the new features, so basically the users in the future can create their subreddit and also they have lots of the moderation features so they can moderate their subreddit, and also we have lots of the good innovation on the product side to make it easier for newcomers if they want to
(20:00) Use Steemit products. So basically all the features will be launched next week, since we have been in the Beta for quite a long time, and also I will discuss with the team to find the balance between the user experience and the ads, we want to provide a better user experience. We will focus on the growth of the users, of course, and also, the financial growth of our steem tokens as well. I forsee in the future, we will invest more capital, human resources, and all the technology to help Steem thrive, so we can see lots of the growth of the steem token, because we have been in a very tough year for the bear markets, 2018-2019
(21:00) Here this year it is 2020, we want to make sure all steem token holders they will grow financially on their token as well. I am pretty bullish on the crypto market, I believe this year of 2020 with the halfening of bitcoin and also the same in 2021 we will see lots of the exciting things happening in the industry, for example for Steem token for the following 2 years we will bring more exchange on board. and the same time, we will bring more people to understand about the Steem blockchain. We have lots of distribution channels.
(22:00) So right now Tron is supported by Samsung phone, so in the world, like all the samsung galaxy phones is support tron blockchain. Samsung has a very powerful product line, recently they just launched a new fold phone called the samsung flip z so everybody can try it out, its super cool. With the new samsung galaxy fold phone released before. So samsung has right now pioneer the fold phone and also the blockchain (?) Samsung has support all the tron trc10 trc20 tokens and I think this year we can shape steemit on samsung as well. So we will try and shape the mobile apps and make them available in the samsung ecosystem. So we collabrate with (?) so we hope we can launch Steemit on (? Hope-rah?).
(23:00) And also, of course, our self, we have lots of distribution channel. Bittorrent in android, desktop, and also mac, and we will try and shape steemit product in all of our bittorrent product line as well. So very excited to collaborate with Steemit and Steem. So, I think we will see lots of the traffic, user exchange, and volume come this year and the next year. So I am pretty bullish about the crypto market and I am bullish of the Steem and Steemit as well.
(24:00) So I think me and Ned, I think we can open up to some questions, both to Twitter, DLive and youtube.
Ned: I was muted there, but Justin, I was saying I think that is awesome. And I think this audience should be very excited to hear that. I mean, you guys have done a lot of great things, from building products to acquisitions, and you have the resources behind it continue doing this, from partnerships to distribution channels. I think on the Steemit side that is a super exciting proposition. Yeah, lets take some questions.
Justin: Yeah, we may first take from twitter. Let me see. (Long Pause)
(25:00) Well I think right now, I see on twitter, everybody is very positive. Some people say "Justin Is the GOAT" and somebody says "Steem is awesome" and also "Justin Sun is super cool" Do you guys have any questions?
Ned: I wouldn't mind them saying "Ned you are amazing"
Justin: Yeah, exactly. Lets see if any questions on Twitter. For investors: What will the (price?) merge looks like in Tron? For the Steem holders. For me, I dont think we have plan for immediate token swap.
(26:00) So, I think we will keep both steem an tron tokens separate and run different so the team is run separate too. So there is no token swap for right now. so we will come up with a plan for how Steemit can use the tron smart contract because we know on steem doesnt have smart contracts. So we want to see how the Tron technology can help basically Steem and Steemit to grow. So this is in discussions, so I want to talk to the team to find out the best solution to integrate eventually for Steem, Steemit and Tron.
(27:00) So right now, everything is as it is, so we haven't come up with any plan for the future changes, so if we do we will keep everybody updated.
So, we may take maybe one question from DLive as well.
(Long Pause)
Okay, some people are asking a question I can answer. "We poured our hearts into the Steem blockchain, are you going to take away from us?"
(28:00) Of course not, of course not, I believe a win-win solution for both Steem, Steemit, and Tron. So the good news is, when we announced the combination, both Steem price and Tron price is going up [transcribing note, gains were wiped out 2 days later and this is a pathetic argument] that is why the crypto market overseas has perceieved this combination as a good sign, it is a mutual benefit alliance, so I believe my vision of the future I want both steem and steemit to thrive just as much as Tron do. We are holders of steem token too,
(29:00) So we want all the holders of steem tokens they can financially in the future earn money as well. Everybody is on the same page, and everybody is financially are (?) as I say, we have a huge traffic, resources, anything we want to put into Steemit and Steem ecosystem, so definitely we can look forward to a lot of exciting things are going to happen in these future 2 years.
Ned: This one is for Justin, Justin, are you going to pump my bags in 2020?
Justin: First off, I'm super bullish about 2020 2021, not only bitcoin, but also all the tron steemit, steem,
(30:00) and also btt and (wink?) all the tokens even ethereum.
Ned: Justin, what do you think about the (Voice?) that came out yesterday
Justin: Yeah, I think I want to see the experiment, you know. I want to see the experiments of all different applications, (?) blockchain, I want all of them to thrive, I want all of them to be a successful project eventually. Because right now, I feel like in our industry we still need a lot of the experiments. right? So,I hope if voice when they launch, if they have success in their features, I think in the future steem and steemit we can learn from it. So the more people that explore these experiments the better.
(31:00) Ned: Good good, hey lets go a little in your background. I learned a little about you a couple months ago when we were hanging out. And I learned that you worked for Ripple as early as 2013 and maybe you had a (cut out) in Bitcoin earlier than that. Just for our Steemit folks, can you go a little into your personal background.
Justin: Sure, I finished my bachelor degree in China, so at the time it was in Beijing, so at the time I moved to the United States around 2011, so I went to university of Pennsylvania for master degree. And of course, in college I got into Bitcoin and Tesla, so those are the amazing things I found in 2012.
(32:00) I like tesla and bitcoin, thats why I invested lots of money in both. But, eventually, I find out bitcoin is more exciting. Thats why, after graduating, I found crypto to be my life so I work in (Ripple?) for one half a year before started my own business in China. And then, I just keep doing different crypto projects and other applications as well. We run the largest (voice?) live streaming platform in China called (?) before we jump into the crypto application and protocal, so around 2017 we founded the Tron and we are doing a lot of exciting things since then. So I will say that the Tron ecosystem and the Tron community is energetic and active and
(33:00) the good part is our community is not very toxic, our community is very inclusive, we love to talk with other community members, we love to see the advantage and the strength of other communities and we always love to learn from it. So I think this is the difference between the tron communities and other crypto communities. So we love to talk to people, share our vision with people, I believe we are a very kind people, so we always love everyone in the crypto industry to be successful. Thats pretty much my background
(34:00) I live 20 years of my whole life I live in China, so Im 29 this year. For the rest of the 9 years, I live half the time in China and half the time in the United States.
Ned: Well, two things, we are both actually 29, I discovered, the year of the horse. And we were sitting at this table eating dinner one night, and Justin and I are both year of the horse, which is a Chinese new year thing, and, or a Chinese callender item, and everyone else at the table was year of the rat, or something. And you had a great story about the year of the rat, or something, so if anyone is hanging out with Justin ask him about this stuff.
(35:00) So I think I had a similar observation with learning more about the Tron community. I think it is fascinating that you get these differences in culture. And, you know, a lot of it stems from basically, it bubbles from the bottom up. How does the consensus algorithm work, whats the history, this and that, so clearly you guys have been making some great decisions to make things so positive. I think it bodes well for the future for both platforms.
Justin: I also want to mention we definitely we share the vision with Steem and Steemit, for example, in the past we have spent like, invest numerous resources into decentralized services, we acquire bittorrent, after acquire bittorrent, bittorrent runs independently.
(36:00) Same time, shape lots of the very good decentralized products. At the same time, we acquire dlive, and DLive has been, the data of DLive has grown dramatically, after we acquire dlive because we show dlive on all our existing bittorrent channels. And I believe the same thing is going to happen for Steem and Steemit. We will keep the independence of the team, and the (?) and there will be how to run product, and also we will show all the new features to our community and hopefully the project after, we want to be a person to help them. After our help,
(37:00) the steem price will increase and the steemit community will become more and more strong and we will get more and more traffic and in the future, we could even someday even compete with reddit in this industry. thats my vision, thats something I want to share with the community and we definitely are looking forward to seeing lots of the positive changes in the future.
Ned: Yeah, I hope so. And just a quick message from me to the Steemit community. You know, I love you guys. It has been a fascinating last couple days, some excitement, some terror, we are going to fork, we are going to do this, you know guys, we've had so much fun in the last 4 years that's probably like the 20th time we've gone through something like that. So, you know, I just want you to know I'm here for Justin, I'm giving him my experience and all that, and think in the end, with his resources,
(38:00) Openness and communication here I think there are a lot of great things that can come of this.
Justin: Yes, exactly, so, in the future, I think I will also continue to consult with Ned with the future changes. So anything we do, we will consult Ned first and we will want to get the opinion of the community first. We will always want to find a way, everybodies (?) at least most of the people just like most of the people are on board. And its better for steem, and its better for steemit. And of course, yesterday I see lots of the post on Steemit and I also see lots fo the message people leave to me how about my steem token, how its going to grows,
(39:00) Ive been been keeping these Steem for so long. I can promise to everybody, we definitely want to be responsible for the Steem token, so steem token I believe, i cannot promise on the price but what i can promise we will put more resources, more investment, more capital, more people, into this product and will create more value. I believe, i firmly believe, as long as we contribute more value into the product, the price will eventually grows into the future. It's just like bitcoin, right, with the bitoin ecosystem grows, more and more people know about bitcoin, more and more people use the bitcoin. Eventually the price of bitcoin grows in the future.
(40:00) Ned: Great, should we take anymore questions Justin?
Justin: Yeah, we can, we can take another question fromyoutube, since we already take one question from periscope and one question from dlive, and we can take some question on youtube. Lets see. "Justin, will you use your stake to vote on content or witness?" So right now, I dont think we have any plan to stake to votes on contents or witness right now. So right now we want to keep the existing governing structure and the existing team as it is so we
(41:00) will be more focusing on releasing the new product, its coming next week. To talk about the future plans because we really want to know how we can collaborate with Tron blockchain and steemit product. So we really want to know to discuss with the team to come up with a plan so thats where we are focused right now. So i think at least now we dont have any plan to use our stake to vote for contents or to vote for witness. And also, a question, ask me about "are you going to attend Steemfest this year?" I didnt know much about the details of Steemfest for this year yet but
(42:00) definitely I am happy to attend for sure as long as the Steemfest is (?) because we already hold our Nitron conference this year in Feb 29th in Seoul, of course as everybody knows because of the Coronavirus. Lots of our people come from asia so coronavirus has been there for quite a long time so we hope everybody be safe so we postpone nitron until summer. So i think if i steemfest is summer so if everybody is same place I definitely want to be there. Wow, its november, definitely. I believe November is completely cool.
(43:00) Somebody asked what is the giveaway for the trx holders. Definitely, I believe in the future we will find a way between the Steem and Steemit communities and the TRX community. And we will definitely come up with a plan to share with our community. I think definitely Steem and STeemit join the tron ecosystem will bring a lot of upside to the Tron holders, and also I think this is our footprint on the social media. We would definitely see more feedback and more postitive feedback on this and I just want to introduce today
(44:00) to all the TRX holders and the tron community, go to Steemit.com to try out these products. I believe these products are amazing, Ive been seeing these products for quite a long time so definitely try it out.
Ned: So Justin, we know how neutron people can test out steemit, they can go to steemit.com, get an account, test things out. What about our Steemit and Steem folks, what would be the simpliest and best way for them to come and test out something in the system.
Justin: Yeah for sure, first of all, Tron project, you can monitor everything on Tronscan.org, so this is our official browser so you can see all the data on top of Tron and if you want to try out how to use tron play dapps, you can go everywhere, united states, the best place is bittrex,
(45:00) if you are around the world i think the best place is poloniex and binance, poloniex and binance both you dont need kyc, you can get an account and you can deposit and get some trx and use tron inc wallet and other wallet as well, like trust wallet, even samsung phone, you know, oh the samsung phone support tron, you can use them to play the dapp on top o tron, so if you wanted to check the dapp on tron, you can go to dapp review, dapp radar, to check all the dapps. Also at the same time if you wanted to try out bittorrent and uttorent product, its very easy, you just go to bittorrent.com, utorrent.com the website, you can download our software and also you can get the seed and get the files
(46:00) and you can drag into the bittorrent and utorrent clients and you can begin to use them. And of course please try dlive as well. Dlive is one of the livestreamign platforms we are using today. And I will also give a special bonus to the people watching on dlive. I will do it right now. So lets see. I will give away, distribute the chest to our dlive users. It's happening, 30 seconds so all the dlive users have a chance to win the treasure. (He then proceeds to "give away" $1.50 in lemons, DLive's native currency).
So if you want to get on DLive, just download DLive
(47:00) mac android ios, or just go to dlive tv. It has distributed all the rewards. Maybe beause my laptop is running out of batteries, its only at 10% left maybe we just answer one or two more questions?
Ned: Sure
Justin: First of all, I also want to say. I really cherish (?) the ways of Steem and Steemit community, you guys is the reason why we move all this collaboration
(48:00) in the first place. If we dont have a lot of the people and traffic in the Steem and Steemit community there is no point we reached this collaboration. In the future for any changes we will always cherish your guy's voice and we will always try to get everybodies' feedback and then move on things. Oh somebody told me it is SteemIT not Steemy. Is it Steemit?
Ned: Yeah you got it right
Justin: Steemit, Yes Steemit. For the SMT somebody asked me what my plan is for SMT, yesterday I talk to the team already, I think as long as the team is ready for the SMT I think we will find a way to release it, why not. We have been finished on it already, and on it so many days on the product, we are definitely looking forward to see if we can release the SMT. (small confusion on pronouncing)
We have been doing this for so long we definitely want to release it, why not.
(50:00) For the features we are going to release next week. We already talked to them, they feel comfortable. They want to release it next week and they told me the new product is going to be awesome. And also, of course, we have an accelerator program for all the dapps built on the steem blockchain so we are happy to talk with everybody on to fund it the (?) the dapps on the steem blockchain to thrive too. And of course, the Steemit team will stay
(51:00) as it is. So everybody on the original team, you guys dont have to worry about it as well. Its just like the bittorrent, dlive team, so after the acquisition everybody stays as it is. So, yeah, since my computer battery is almost gone and we already addressed most of the questions, hope to see you guys soon, and for me, I have 2 weeks or maybe even a week sometimes I have livestreaming and I will always first post news on my twitter so hopefully people can come to the twitter and people can come to the livestreaming room and chat with me.
Ned: so yeah follow justin sun on twitter, I believe you are @Justinsuntron and follow me I am
Justin: Thank you everybody, really exciting, hope to see you guys soon
Ned: Cheers, See ya justin, bye bye.
