Why @ned Powering Down Is A Great Thing For STEEM

A lot of excitement was generated by the fact that @ned is powering down his account.

Is @ned quitting?
Does he not believe in Steemit anymore?
Is it failing and he is bailing before the total collapse come?

You just have to love the speculation about social media.

To start, @ned is not going anywhere.

Im actually staying

This is the exact quote that he wrote in the Smart Media Token Telegram group. If the screenshot feature worked on my phone I would post it but it is still up there for anyone to see.

So if @ned is not leaving, why is he powering down and how can that be considered good?

I will begin by saying that one of the biggest complaints about STEEM is the distribution of SP. Many point to the fact that a great deal of the power is in the hands of the few. The fact that @ned is powering down a portion of his account means that the distribution line will flatten out a bit. His main account is going to get weaker in terms of the influence it carries on the blockchain.

Some will point out that he is simply moving the money to another account. That is true. The difference is that, so far, it is not powered up. This tells me two things. The first is that he is not simply liquidating out. If that was the case, the transfer would go to an exchange to roll it into a different currency. So chill with the idea that @ned thinks that STEEM is going under.

The second is that this money has a purpose. He is not setting up another account just to have two accounts with SP in it. He has an intention for this STEEM.

What could he be doing if he is not liquidating out?

I hypothesize he is doing what most of the larger accounts did recently, investing. We noticed a shift here of late where many of the bigger accounts are using their SP to invest in different projects on the blockchain. @steemhunt is the biggest example of this but not the only one. We are starting to see STEEM and SP used to enhance the applications that are being developed. This is really going to help to move this ecosystem forward.

@ned is going to invest the STEEM in some project. Could it be that he is putting together some money to fund the decentralized exchange? If all SMTs are paired with STEEM, there will need to be STEEM in there to conduct transactions. Does he have another application in mind that he is investing in? Could this he be creating a completely new token and using his STEEM to back it?

There are a million different scenarios we can run through. Until he releases what he is working on, we can only guesstimate what it is going to be.

The bottom line is there is nothing to worry about. Even if @ned was leaving, the blockchain would keep advancing. It survived the departure of @dan. When you look at the development taking place, that is truly decentralized. Yes, the Steemit team is working on the blockchain but the applications are coming from all over. That will continue as more people learn the programming required to interact on here.

There are a lot of great things starting to unfold with the STEEM blockchain. Yesterday the development team sent out a very good update. They are really making some progress. We also saw the Android version if @dlive announced which is huge since it opens up those countries were mobile phones is the primary means of Internet access.

The situation with @ned is just more FUD being spread.

Besides, @ned has a pretty good understanding of finance. Why would he cash out after an 80% drop in the price of STEEM?

Just more senseless fear being bantered about.

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