@steemit Powering Down 71 Million Steem Power. What's Going On?
I'm piggybacking on a post from @preparedwombat . I'm hoping this post or his can make it to someone in the know. He noticed that the corporate @steemit account is powering down 71 + million Steem Power. (See screenshot above). If you want to view for yourself it is located here
This is a concern to me. Does someone know something that's coming up? I assume powering down 71 million SP is a bad thing, or maybe it's not?
Can anyone shed any light on what may be going on?
@kp138 Check this out! Dig even deeper. Look at the history of his recent transfers in his wallet. 1 transfer steemit made, It went to Steemit2. Then look at the transfers of steemit2, it went to multiple wallets. Now, look at all the transfers from those wallets, many of them are being sent to Bittrex and Poloniex :O - I'll be watching closely, I hope you and others are as well. Keep me informed.
Interesting information
Thanks for this info!
Pulling out an investment that been sitting since long,especially since IPO´s / ICO´s is standard, maby the person wants to invest 500 mil in the next thing? and go über rich :)
Thanks for sharing
Maybe lol
yeah why not every single stock i´ve owned long time has seen major dumps of multiple % from massive holders, that´s how it works. Put in 10 mil pull out as much as u can, even if the prise are to increase to 10 dollar its a little gain, putting the 400-500 mil in something that could yield 1000´s of % again is natural! no fear!
Does that mean they're converting to fiat currency? Does that affect the market price at all? If so, that's a little unnerving ...
it always creates short decrease when big holders move on, i would guess it will be taxed,(raped) then moved to new icos / ipos :) thats how money does its work best.(except the tax) :)
Yes, but public corporations don't sell their stocks unless there is bad news coming, in which case, that would be illegal, without public disclosure first, according to the SEC. If a public corporation is anticipating good times ahead, they buy-back their shares, not sell. I understand that this is different, but the premise is the same.
so yeah, u are right it might look bad!
I don't understand enough about cryptos, blockchains, nor Steemit yet, to know what is going on exactly in this article. That's why I ask people like you and @kp138 and other Steemians, to help me understand this new monetary system, within the Steemit model.
Danke Clause! ;)
I feel the same thou, could know more :) withdrawal action here:
https://steemdown.com/
If this is accurate duno!
Yes, that's very interesting. I notice that a lot of these people cashing out, don't have any posts or comments etc., but yet are heavily weighted in Steem. Perhaps they are straight investors in SBD? Not really sure.
but this is kinda different from corporate structure giving the influence structure! will be fun to see what goes down :)
In this type of environment, one just have to be prepared for anything good or bad because cryptos are not yet mainstream.
But we hope to be prepared for good though.
Very true!
I'd like to know too. Keep us posted
Will do buddy.
I wonder if this power down will increase everyone else's influence?
That has nothing to do with influence. You will get more of the mining pool though
True. But are they selling due to some bad news coming ?
Forgive my ignorance, but I'm a newbie here... What does 'powering down' mean? Are they devaluing the price of Steem dollars on the markets? If so, how are they able to do that? Or does it mean they're flooding the market with SBD, thus lowering the price due to supply and demand?
Someone is powering down there Steem power to Steem. It’s hard to tell the intentions, such as selling into the market, which could lower the Steem price.
That's what worries me... If they believe the market price will skyrocket soon, as we all want to believe, they wouldn't be dumping it at current prices, that's for sure. Hmmm...
Hopefully to buy servers.
Could be. Maybe due to a big announcement?
We've been having rough mornings. I wonder if it's dtube killing it.
♦♦very well post dear and great writing ♦♦
That's over one forth of the total supply. if it gets sold, it will greatly decrease the price. But it takes a while to power down, and I'm sure they wouldn't try to sell it all at once. And who knows, maybe they pushed the wrong button, lol.
You got a 34.88% upvote from @upyou thanks to @kp138!