So, should we assume that devs designing for Ned & Co.'s new UI aren't paid from the investments of STEEM blockchain investors? Isn't building from the ground up wasting investors' money? If the average cashout by a down-vote bot operator is $10,000/mo, what is the real cost of all devs and T20 witnesses in the Ned & Co. inner circle cashing out?
I'll leave you to ponder the answer to those questions with this graph.
The general trend of STEEM value is down and it would be worthless by now, if not for the apparently synchronized investments that rescue this cryptocurrency from the grave. When the STEEM blockchain crashed on Sep 17, it came back online with an 18% pump. In a single hour, a day before the Hardfork, it spiked 31%. Who buys STEEM when the blockchain is proving itself vulnerable? New investors? I think not. How about existing investors recycling their cashouts? What else can explain the apparent hivemind pumps? There has been a 70% growth in STEEM since Sep 12! This can't be organic conversion growth. I suspect it's Ned & Co returning cash to the kitty that they previously cashed out.
"Only Steem is defying the dump with an 18% pump at the time of writing. A strange occurrence since their blockchain has been suffering with technical difficulties lately."
@SteemNetwork is defying the dump with currently an 18% pump
7:34 AM - 18 Sep 2018
STEEM Price Surges 31% Ahead of Steemit Velocity Hardfork
"On Monday afternoon the coin price surged 31%, climbing from a price of $0.852111. The majority of those gains came in less than an hour, between 16:00 and 16:30 UTC. The highest single concentration of trades comes in the form of STEEM/USDT on Huobi, while the rest of the market is shared predominantly between STEEM/BTC and STEEM/KRW."
STEEM Price Surges 31% Ahead of @SteemNetwork Velocity Hardfork
1:15 PM - 24 Sep 2018
Let's see a report on STEEM buys by account name with date of account setup. That would prove whether sales are organic conversions or recycling by Ned & Co..