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RE: Going Up, Going Down
If STEEM will go up, we all will. Yes, whales hold a lot of power, and they exert it. But at the end of the day, if STEEM doesn't go up, they won't like the ROI on their STEEM investment either.
If steem goes up, whales will sell a bit of their humongous reserves, dropping the price down again. You won't get any benefit from it. But they will. Specially when they bought STEEM at less than 1 cent and they keep it stable by themselves.
I thought the minimum was 7 cents. Unless it came from mining. Otherwise I don't disagree that they can programmatically sell STEEM (one of them was Steemit Inc until recently, regardless of the price).
That's not all there is to it. The latest hardfork updates changed the reward distribution. Posts getting less than 20 steem payout get exponentially less than posts able to reach 20 steem.
Those whales have already met their return of investment, but they still have billions of steem power. Why? Because they cashed in liquid steem by offering bidbot services. Then when they got enough to control everything, they started downvoting bidbot customers.
So they use the steem power they got from bidbot services to downvote everything not according to their methods. Actual authors who are not part of their circlejerk get a lot less than before, which was already too little for their work.
They don't want to bring people into steem. If they did, we would see an easy way to register. They only want investors. They want to steal that powered up money through the faucet distribution.
All of these changes and scam methods are hard to understand because they happened over a few years and they can get very technical. This blinds new users. It is a way to trick people into getting steem power.