The LeoFinance Podcast

It’s official! The entire community has spent weeks debating and discussing the possibility of a hard fork. Now that we see a plan and roadmap in place and a hard launch date, the discussions are shifting from how to fork to how will the fork go.

There are still quite a few unknowns, but speaking in a broad sense — this is an amazing thing for the Steem community.

It allows the community to develop its own fork. To disconnect from the centralization of Justin Sun and Steemit, Inc. that has been weighing us down for the past 4 years.

Over these past 4 years, developers and community members have taken this blockchain from a tiny little blogging interface and a database into being a flourishing community with hundreds of applications and developers that are all passionate about a shared mission — Web 3.0

Hive has the potential to be everything that we all have wanted Steem to be for so long. Without having to carry the weight of a failed company — Steemit, Inc. — Hive can move freely and under the leadership of the Steem community.

When Hive launches, it will be essentially and exact clone of Steem with just a few minor tweaks to ensure that the DPoS (delegated proof of stake) governance is more secure than before. Preventing Justin Sun, Steemit, Inc. and the exchanges from overtaking the governance of a new chain.

In This Episode:

Links Mentioned:

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

Early last week, CZ from Binance put out a multitude of statements ousting Justin Sun and essentially admitting that Justin had sent out details for an “upgrade” to Binance’s team under false pretenses.

This “upgrade” was in fact the call for Binance to power up all the STEEM held on the exchange and vest it into STEEM POWER. Once it was powered up, it could be used to vote in Justin’s Witnesses. Which CZ and Binance did.

The statements made it seem as though Binance was either very naive and ignorant or very greedy and were well compensated for their involvement.

Withdrawals of STEEM have been on lockdown since this event took place. Users have been unable to withdraw from the exchange. Up until today — Justin Sun received millions of STEEM in transfers from the @binance-hot wallet WHILE the exchange’s withdrawal feature was still on lockdown.

Either Binance is continuing to collude with Justin Sun or Justin outright owns the keys to Binance’s Steem account. I think it’s the former, but who knows with these guys. It’s apparent that people like CZ and Justin Sun are money-hungry and power-hungry. They’ll stop at nothing to enrich themselves and push for more control over the crypto space.

In This Episode:

Links Mentioned:

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

- Learn more about our steem-powered community at https://steemleo.com/faq.

- Trade Steem-based tokens on Leodex at https://dex.steemleo.com

- Buy & Sell Digital Products and Services with STEEM & LEO on the Leoshop at https://shop.steemleo.com

Today marked another major downturn for both equities and cryptocurrencies. Bitcoin is down over 25% and equities are down over 7% as of this recording.

We are at the beginning of a long-term stay-at-home economy. The potential impact of COVID-19 on businesses, employees, entrepreneurs, investors and everyone else is unknown at this point.

It’s hard to say whether we’re going to see crypto/bitcoin develop as a safe haven asset or if we’ll see it follow the rest of the markets as people panic sell into cash to stave off potential risk.

Links Mentioned:

- https://www.tradingview.com/chart/?symbol=GEMINI%3ABTCUSD

- https://twitter.com/BW/status/1238076302428475393

- https://twitter.com/crypt0snews/status/1237822131540357120

- https://twitter.com/jimcramer/status/1238089818942341120

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

- Learn more about our steem-powered community at https://steemleo.com/faq.

- Trade Steem-based tokens on Leodex at https://dex.steemleo.com

- Buy & Sell Digital Products and Services with STEEM & LEO on the Leoshop at https://shop.steemleo.com

The Binance saga seems to be drawing to a close as CZ and Binance itself have issued multiple apologies and statements regarding the Steem Hostile Takeover and their involvement in helping Justin Sun overthrow the governance of the Steem Blockchain.

Obviously, their apologies are carefully worded and they don’t really appear to take on much blame at all. Any blame aimed at them was redirected toward Justin. Ultimately, CZ chalked up his part of this “fiasco” as a simple lack of understanding when he signed off on the hard fork, powerup of STEEM and installment of fake witnesses.

Still, Binance has retracted the vote and initiated a power down of the customer funds that they used in the hostile takeover.

This doesn’t make up for the fact that they took part in a hostile takeover that is still ongoing. Without Binance’s involvement, the hostile takeover would never have happened. Steem would have never had Justin Sun in charge of the entire blockchain with 20 fake witness accounts and we would have likely resolved the power struggle in closed door meetings with Tron and Justin.

Instead, we (the Steem Community) have been forced into an ongoing battle for the top witness spots. We currently hold 9/20 of these spots and are fighting Justin who is leveraging both the Steemit, Inc. ninja-mined stake as well as Poloniex’s customer funds.

Justin has also been neglecting the duties of running Steemit, Inc. and certain functionalities are already falling apart at the seams like account recovery.

I talk about this and more in today’s SteemLeo Show Podcast Episode.

Links Mentioned:

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

Crypto mass adoption is a mainstream conversation in the space. People are continually wondering how mass adoption will come about and more importantly WHEN it will come about.

For me, mass adoption means a lot of different things. We’re all unique in this world and we have unique needs and desires for cryptocurrencies and blockchain technology.

Regardless of how you use cryptocurrency, I believe that mass adoption is largely in the hands of the people. It’s people like you and I who will bring others into this space and take them by the hand as they learn the ropes.

Apps like Venmo have built their user base largely on word of mouth and peer-to-peer usage. Whether it’s a DeFi app or just simple day-to-day payments, crypto is no different. We need peer-to-peer use cases and we need people to start regarding cryptocurrencies as something you EARN rather than something you INVEST in.

In this Episode:

How YOU Can Make a Difference in Crypto Mass Adoption

Links Mentioned:

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

There was finally a closed-door meeting between the Steem witnesses, Justin Sun and Eli Powell the other day where many of the current governance issues on the blockchain were discusses.

For the most part, the meeting was relatively productive in understand Justin Sun a bit better. For me, I confirmed my suspicions that Justin really doesn’t understand anything about Steem and he bought Steemit, Inc. under false pretenses from Ned.

In my opinion, Ned deceived Justin in more ways than one about Steemit, Inc. and the Steem blockchain.

Ned has come out and said that he pursued many acquisition deals until finally he found Justin and they came to an agreement.

In my opinion, the prior deals all fell through because the companies looking to acquire Steemit, Inc. dug up all of the dirt on the company and how Ned had made promises that he didn’t plan to keep and how he ultimately did nothing for the past 3 years and ran the company into the ground since Dan’s exit.

Again, this is all my speculation, but I believe Justin was fooled by Ned because Justin’s team is mostly incompetent — especially when it comes to technical details.

Justin claimed in this chat that his team did due diligence, but only on the documentation provided by Ned. That is not called due diligence, that is called naiveté and poor business practice. You don’t buy a house and take the seller’s word that there aren’t any leaks in it. You have it inspected before you sign the deal.

Anyways, in this talk I just find the key points from the meeting between Justin, Eli and the witnesses. I also conclude with what is (in my opinion) the easiest path forward — a win-win for all parties involved. Justin declining the right to vote on consensus and the Steem Blockchain witnesses signing an on-chain agreement that they will never touch Steemit’s stake in the Steem Blockchain ever again as long as the decline_voting_rights op is in place.

Links Mentioned:

- https://twitter.com/steemleo/status/1235070032255868931 (Witness chat recording)

- https://steemleo.com/steem/@informationwar/q6oo43 (Collection of evidence for the use of Steemit Stake)

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

- Learn more about our steem-powered community at https://steemleo.com/faq.

- Trade Steem-based tokens on Leodex at https://dex.steemleo.com

- Buy & Sell Digital Products and Services with STEEM & LEO on the Leoshop at https://shop.steemleo.com

Today is a much happier day than yesterday.

We saw Justin Sun walk up, collude with Binance, Huobi and Poloniex to steal our Steem car.

After he stole the car by installing his own top 20 sock puppet witnesses (all running on 1 node, btw), his team got to work on a hard fork that would solidify some of the bullshit tactics that he’s been spewing. Effectively disrupting Steem as we know it.

The community did not have any of this. Today, we’ve spent countless hours on Twitter and Steem in order to rally support and vote in the previous top 20 witnesses back into consensus. As of this writing, we are now at 6 out of the 20 witnesses in power and it is growing every hour.

Over the course of the next 12 hours, I believe we will once again have consensus majority (16/20 witnesses) and will be back in the driver’s seat of the Steem Blockchain. From there, we can figure out how to proceed with Justin Sun. I assume we will install the decline_voting_rights operation to his stake, at the least, and essentially tell him to become a silent investor.

We don’t need him. We’re stronger without him and without people who are just as bad (or even worse) than Ned.

Today is a great day for Steem. Celebrate this day and don’t forget to vote for your REAL witnesses.

If you don’t know how to vote for witnesses or don’t want to know (or spend the time to do it). There’s an easy solution — vote @steem.leo as your proxy witness.

By doing this, you give us the effective power of your witness vote (doesn’t impact your voting power on steem rewards) and directs it toward the witnesses that we vote on.

Click this link to set steem.leo as your proxy or head over to a site like Steemworld.org to do it manually.

Links Mentioned:

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by Steem and the LEO token economy.

- Learn more about our steem-powered community at https://steemleo.com/faq.

- Trade Steem-based tokens on Leodex at https://dex.steemleo.com

- Buy & Sell Digital Products and Services with STEEM & LEO on the Leoshop at https://shop.steemleo.com

Today I woke up to some saddening news. Something that I could have never anticipated.

Justin Sun has taken control of the top 20 witness spots on the Steem Blockchain. He now controls all of the top 20 delegated proof of stake block produces. Meaning that he can do anything he wants to the Steem Blockchain and there’s not a damn thing we can do to stop him.

This is the exact reason why the soft fork was put into place — to keep this shithead from doing something like this and taking over OUR blockchain. OUR community’s home.

How did he do it though? I was so confused… that is, until I saw the transaction data.

He did it by paying Binance and Huobi something on the order of half a million USD+ in bribes to STAKE ALL OF THE STEEM held on their custodial exchanges and use it to proxy vote Justin Sun’s witness voting account.

We can’t fully confirm that these were bribes, but millions of STEEM being sent to the exchange accounts from Steemit, Inc. accounts minutes after the proxies are set?? If it looks like a bribe and smells like a bribe….

In this video, I am a bit heated. This is a passionate subject for me.

Steem is not dead. Far from it. We are not the Steem Blockchain. We are a community of Steemians. We can live and thrive anywhere, regardless of what our banner is called.

Links Mentioned:

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by the LEO token economy.

Learn more about our community at https://steemleo.com/faq.

Trade Steem-based tokens on Leodex at https://dex.steemleo.com.

Buy & Sell Digital Products and Services with STEEM & LEO on the Leoshop at https://shop.steemleo.com.

Warren Buffet was recently interviewed on CNBC and was asked about his opinions on cryptocurrencies and Bitcoin after his dinner with Justin Sun and a few of his “crypto buddies”.

There is no doubt that Buffett is an incredible value investor, but when it comes to evaluating cutting edge technologies, he may not have the best track record. He has made a MASSIVE bet on Apple, but he didn’t make that bet until 2016 — when the company was already a global behemoth with a massive amount of positive cash flow.

Buffett doesn’t predict “the next technological breakthrough”, instead, he focuses on income-producing assets that are tangible in the here and now and can reliably grow in the future. That’s why I believe his perspective on investments regarding innovative technologies ought to be taken with a grain of salt.

In This Episode:

---

Links Mentioned:

---

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by the LEO token economy.

We have a need. A need for diversification.

I just had a conversation on Sunday about markets at all time highs, irrational greed and the potential impact of the Corona Virus and other global market factors.

In the conversation, I was asked what I would do if I was holding stocks for the long-haul — 10+ years — in an environment when prices seem irrational and greed is continually mounting.

My answer: sell small %’s on the way up and diversify into things that might do well in a potential bear market.

This is what I’ve been doing since the start of 2020. Moving my long-term positions around (in very small chunks) into things that hedge against the risk of a potentially major correction in the markets.

---

Links Mentioned:

---

Our Community:

https://steemleo.com is an online community for crypto & financial content creators, powered by the LEO token economy.