Cryptocurrencies: Did Venezuela Just Hardfork Petro To Challenge Bitcoin Dominance?

Cointelegraph is reporting that Venezuela’s government might have performed a hardfork on its cryptocurrency the Petro, in order to make it more attractive to Venezuelans who massively depend on rival cryptocurrency Bitcoin.

Source:

https://cointelegraph.com/news/venezuela-appears-to-have-hard-forked-the-petro

A hardfork is a blockchain programming process that often creates a new cryptocurrency.

For instance, the Bitcoin Cash is the result of a hardfork of Bitcoin by cryptocurrency progammers.

And the Hive blockchain is the result of a hardfork of Steem by dissatisfied community members of the Steem blockchain in reaction to the takeover by Tron’s Justin Sun.

A word of warning: Their are still so many tricksters in the cryptocurrency sector. If you must invest, it is advisable to invest only money you can afford to lose.

STEEM, Hive And The Dynamism Of History

There comes a time in a society when disagreement leads to exodus or mass migration.

The Israelites’ disagreement with the Egyptians led to the Exodus referenced in the Holy Books.

The disagreement between the Pilgrim Fathers and the British monarchy led to the May Flower.

The disagreement between Jaja’s people and Oko Jumbo’s people led to the march to found Opobo by Jaja.

The disagreement between Chang Kai Chek’s Nationalists and Mao Zedong’s Communists led to the Long March.

The disagreement between the Boers and the Huitlanders led to the Great Trek to Transvaal.

The disagreement between Justin Sun’s Steemit Inc. and long-standing members of the Steemian community is about to trigger a massive migration from Steem to the Hive Blockchain via a separation known in crypto circles as a hard fork.

And so continues the Dynamism down the lines of history.

See The Last Badge SteemitBoard Awarded Justin Sun For Shutting It Down

The casualties of the war between Steemit owner Justin Sun and the Steemit old guard -who are now moving over to Hive- include entities that received delegations of STEEM Power (SP) from Steemit Inc. under former owner, Ned.

One of these casualties is SteemitBoard who used to award lucrative badges to Steemians for comments using the SP delegation they got. Ned had delegated 30,000 SP to SteemitBoard.

But in reaction to the recent withdrawal of the 30,000 SP by Justin Sun’s new management, SteemitBoard, which is also moving to Hive made one last badge for Justin Sun, presumably as a parting gift.

See it here.

STEEM Community Old Guard To Begin Great Trek From Steemit.com To Hive.io

The old guard of the STEEM community opposed to the new order of Justin Sun of Tron are preparing for a Great Trek away from Steemit to Hive.io, their new home. Community sources confirm there will be a hard fork away from Steemit on Friday.

Hive.io comes with its own blockchain, the Hive. Snapshots of loyal Steemian accounts have been scheduled. Honey 🍯 drops will be airdropped into such accounts, while accounts of pro Sun Steemians are not likely to get honey.

This reminds me of the Afrikaanar Great Trek to Transvaal after the Afrikaanar defeat in the hands of he British Huitlanders. It also reminds me of the Maoist Long March in China after a major defeat in the hands of Chiang Kai Chek’s Nationalists.

It also reminds me of the May Flower, the Pilgrim Fathers leaving England to settle in America after disagreements with the English monarchy.

I will be watching to see if the special relationship between England and America is replicated between the STEEM and Hive communities. Over and out.