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RE: Insanity at it's finest...and a new round of negotiations.

in GEMS11 months ago

I'm pretty sure they are stalling for time @mindtrap.

I am also pretty sure that the much higher than usual volume on Bittrex and gradual uptrend in the price of Steem for about 48 hours is a signal that Justin/"they" are trying to accumulate Steem by buying it. This pattern began at approximately 10am US Pacific time on March 4th, and is still running; volume at about $180,000-200,000 per day, up from about 1/8th of that. And the trading has been "aggressive," meaning there are almost no downspikes.

So, I'm thinking we need to do everything we can to boost at least 5-6 of our consensus witnesses so far out of range that it becomes economically idiotic to try to buy enough Steem to unseat them.

There's a bit of a lull right now, with the previously HUGE buy wall having gone back to its usual pattern of many more small orders... just six hours ago, Bittrex had lots of 20,000, 30,000, 50,000 Steem buy orders... those have dried up a bit... but that should be watched, and we should have MAJOR campaigns to get people to not only make sure they have voted for witnesses, but also those people who HAVE voted for witnesses — but did so "a long time ago" need to check their voting and see if they aren't voting for some deactivated/obsolete witnesses, and move their votes "up."

We're certainly not out of the woods yet, so let's not get too comfortable...


We shouldn’t get comfortable for sure...

At the moment there is a 10mil SP gap between blocktrades and the rest of the sock puppets. If he’s even considering to purchase such a massive amount from Bittrex or even Upbit just to “restore order” that would move the price to new highs...

I do feel uncomfortable tho seeing almost all our witnesses powering down...

I'm not too worried about the witnesses powering down; it seems to be a perpetual cycle, I expect primarily to pay for the expense of running a witness (servers, bandwidth, storage, etc.) — when the price of Steem is higher, they power down less, when it's low, they power down more.

Another possible explanation for the increased volume on Bittrex could be that Huobi and Binance both have their Steem withdrawal gateways suspended due to the fact that Justin got the Steem they have in client trust accounts locked up for 13 weeks... and people are simply using a different platform to trade.

This type of investigative reporting merits its own post.

My guess is that reality makes more sense when we know the interest.
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