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RE: open letter to @ned , JESUS CHRIST I AM ABOUT TO LOOSE IT!!!!
It won't matter what this company does as long as the top 30 accounts have more than 80% of the coins and are looking to sell. If you want to know what's holding the price back and why no matter how hard folks try to bring it up it always comes back down it's because of them. they were super greedy when they took an 80% stake in what they made rather than make it easy and cheap to join in. So, now the price has to drop low, people buy in, there isn't a giant overhang of early investors constantly trying to cash out, and then finally the price can go back up.
Reminds me of Navteq digital mapping Co that went public...it was known for the same greedy problem and failed to thrive...investors alway check for this I was told by one of my bosses. I worked for a group of lawyers at the time. I was trying to get them to invest because I thought it was a good deal, I had friends who worked there. Navteq was one of the first digital mapping companies. There no sharing profits with employees when they went public, sure employees received some stocks, but the payout was pitiful and embarrassingly small compared to top executives stock holdings..
I've seen this happen so many times working for companies that go public, it's text book. The top execs are replaced when the co goes public with those who know how to harvest and dump the company when the profits are in their silo!
i understand the argument , but bitcoin has a similar issue , a lot of bitcoins are own by a few, I think if these holders feel the price will grow substantially they will hold for a long time , I think its all psychology , for example if an article comes out that says bitcoin has a coding flaw and the transactions will all freeze in a week , bitcoin will go to zero , maybe im wrong but steemers dont see steemit as being worth much , thats sad , this is were the real problem is