Should Steemit Inc stop their 800k steem monthly sell-off?
(Edited)
Should Steemit Inc stop their 800k steem monthly sell-off?
A look at the effects of sold stake
Pros
- Removes constant sell pressure which can keep us locked in low prices.
- Steemit Inc will have more of a long-term stake in their own product, potentially motivating hard work and a better product/marketing.
- Steemit are now covering their costs with advertising, instead of solely relying on the pay-wall.
Cons
- Distribution of steem will remain centralised in the hands of steemit Inc, which is not ideal in the long run as you want as many small accounts as possible to use low prices to catch up.
- Prices will go up faster, sooner, meaning early adopters will have less time to accumulate.
- Less immediate, short term funding meaning development of SMT's and communities may be slower.
- Yes.
- No.
- No, but decrease it.
- Other (please explain)
- No, increase it.
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They started as a big "owner" of STEEM, but we need STEEM to be fully decentralized... so they should run independently from whatever STEEM they own.
Yeah, I like that they're distributing their stake (in the fairest way possible) and using the money to fund development, it just means we're getting industrial level development and becoming more decentralized at the same time. It certainly shouldn't be their only source of income though.
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The faster they divest the clearer the picture.
Right now there is a controlling entity that has stalled for 2 years.
Couldn't agree more, I think they could keep maybe 5 to 10 million as a long term hold (a fruit of their labor so to speak). But I do wanna see all that steem distributed.
They could totally liquidate. I don't mind.
Look at Eli's stake.
They are managing that sucker for cash. Maybe they should hire more. Would drain even faster.
God, I'm salty right now. I blame the heat :D
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I know her stake might be 0.2 steem hahaha but I genuinely don't have a bad word to say about Eli, I think she's a motherfucking G!
They probably will totally liquidate, they're basically just dollar-cost-averaging out so the market doesn't crash lol.
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It seems to be scaring off investors and I don't have a big issue with them holding a large chunk of stake. But doing it at a slower rate would be ideal.
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I don't want to tell what they should do with their own money.
That is their money. They can/may/will do whatever they want with it.
Probably regardless/independently of what people think.
I would not sell Steem at this low (approximately $0.25 USD) prices, but they probably have a good reason for that.
But what they do with their own money does affect thousands of people's investments, which give their token it's value.
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Flooding the market could see less confidence in the token and exchanges might ditch us because of it and also scare off investors. however I do think its an overall positive putting steem in the hands of tribe owners, dapp devs and individuals who want to use the currenty and the chain in more interesting ways
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This is a free market. It's their funds and their consequences.
You raise a very valid point, hadn't thought of it like that.
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Dear @sisygoboom
How can we find out how much do they still sell on the market? Did they lover that amount within past few months?
We surely cannot expect that they would completely stop. I understand that. However I wonder how much did they reduce spending.
Any idea?
Yours
Piotr
they always sell 800,000 steem per month.
Seriously @sisygoboom?
Thank you for your comment.
Always? Without a fail? No wonder price of STEEM is going down so badly. There is no way to create enough demand to cover such a huge selling pressure.
How can we know how much did they dumped each month? I wonder where did you get those shocking numbers from.
Yours
Piotr