RE: So long and thanks for all the fish | a reflexion to the BOT owners and delegators
They are selling it at price they will regret and you and me are buying it.
But the argument of the minnows dumping steem is fake and oversold.
In Venezuela community for example the steem never hits the exchanges there is a few services that buy the rewards from the dumpsters and keep them in the platform.
Thier volume rarely exceeds 200 steem per month
Minnow just don't earn enough to have an impact on the price when they sell...
Remember the tail in the candle that took steem price to 1100 satoshis for a few seconds 1 month ago...
I was actively trading that day and there was no volume at all in the market just the odd minnows selling their 0.010 steem... So when a bot tried to sell 10000 steem it ate the whole order book.
Steem price is controlled by the huge accounts playing in the exchanges.
Remember the weekly korean pumps on the SBD of 2017 ? from 0.8 to 3$ and back down in 15 minutes...
Dont blame the minnows and the dumping.
Just 2 weeks ago when i was still in trading i was bored and with 1 BTC i managed to make a little ladder that moved the price 200 satoshis in the direction i wanted...
I kept doing it for about 2 hours until i saw whale activity and as a good small fish retired my walls and went to hide in my cave.
You are right but, that selling will have an impact on their personal value in the future. For most people on this platform, this 'revenue stream' did not exist at all until the end of 2017 when prices increased and SBD broke its peg.
I don't blame them for price at all, what gave you that idea? What they are dumping is their future on the platform and the ability to curate their own communities and interest areas. Relying on others for bread is always going to lead to hunger eventually.
The bots run the exchanges.