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RE: Steem Power Distribution Trends - September Update
I believe whales who are powering down and selling Steem believe in the long term future of the platform
Regarding the above line - did the whales start to power down after the price started to collapse two weeks ago? If so, they don't really believe in the platform - instead they're wondering whether steem will follow the pattern of other cryptocurrencies, and they're powering down because they don't want to be bagholders, and better to get something for the coins instead of nothing...
I don't know the exact timing. When I joined in July, a lot of whales were already powering down. Maybe someone can fill in on this matter?
That is of course the obvious conclusion to draw. Power down = panic = Steem is doomed. And I'm sure there are a couple of whales like that. However, the whale tier sees the most activity - on average 32 of 46 are active every day. Beyond just checking out what's up on Steemit, furthermore, many whales are very active on the community. Both in terms of comments, but also behind the scenes in organizing initiatives for the betterment of the platform. In fact, just counting through the 46 whales, I can see that at least 35 are either part of Steemit, Inc. or active in the community.
If they had really given up, they would just cash out, and never waste their time on improving the platform.
I read some of stellabelle's articles, and when the price was high as in 0.006 btc per steem, she was talking about how she was holding as it would go higher, and then when it collapsed two weeks ago she started powering down and talking about synero.
It's classic behaviour in teh crypto world - the hope and hype followed by the fear of being a bagholder and the rush to the exits... Granted she's an orca rather than a whale, but still...
I don't see any indications of @stellabelle rushing for any exit. That sounds like a gross misrepresentation. As content creators and consumers, it is simply prudent to check out Steem's competitors.