Steemit's enormous power down...info please?
I'm going to keep this short and simple. I noticed another blogger (whoever you are forgive me because my memory fails me as to who you are) mention that @steemit is powering down millions of SP. The next payout is in six days and is worth $20 Million.
I don't want to say there's anything nefarious going on but I haven't heard anything else about why this is happening.
We've had times in the past when we the users have felt left in the dark about certain things but this makes me wonder....
Here's the stats
I dug a little deeper and found this
8 days ago start power down of 71,458,137 SP...Yes you read that right, even rounding down that's 71 MILLION SP.
I hope this money is going to fund improvements or help launch SMT's this year but It's concerning that so much STEEM will be out there ready to be potentially dumped on the market in whatever amount.
Does anyone know what is going on? I tried to track some of the transfers and some are to other accounts. I'm not a tech whiz like some of you some if someone (maybe a witness or early user who's in the know) has info on this please enlighten me.
I'm not trying to accuse anyone of anything bad, just want a little reassurance my investment is as sounds as it can be in this type of market.
Thanks in advance,
the cryptokeepr
I posted the same question yesterday and today and didn’t get a solid response. Hopefully this reaches someone in the know. I’m very concerned.
So you were the one! And it was only a day ago. Man my memory worries me sometimes. I don’t think it’s anything to worry too much about but it is a bit of a mystery. Why wouldn’t they explain if people like us can find out about it.
Gotta love transparency. We can see what they’re doing but we don’t know why they’re doing it.
I’m gonna send you some SBD as I piggy backed off your query. I don’t want to be one of those people who repost other people’s stuff and reword it for gains. Gonna do that in a minute.
Oh man, you don’t need to do that. I just wanna know what’s going on with the power down 😀
Meh it’s already done. I like to give back randomly. Enjoy. :)
Dig deeper! It's transferred to steemit2 account. Now look at the multiple accounts that steemit2 transferred to. You will notice that those accounts (alpha, robo, steem, misterdelegation) sent steem to Poloniex and Bittrex exchanges. Are they providing liquidity in bittrex/poloniex for other companies to buy steem so they can use them in their smart media token funding? Or are they cashing out? Find out soon on the next episode of Dragon Ball Z!
That’s the question 😀
thanks for posting
With the recent influx of new users, I'd say @showtime24's guess at increasing liquidity sounds right. Why cash out when so many new vests have been created and steem is no where near it's potential? Hang in there @cryptokeeper. I'm sure steem will be alright, even without Steemit Inc, as weird as that may sound.
OK, this might answer your question:
https://www.steem.center/index.php?title=Steemit,_Inc
You're doing a great job.
I would've helped, but I really don't know how as I don't have knowledge to do so.
Hopefully, someone with better knowledge and skills could help you out.
I am equally worried as you are. The steem power dollar has been fluctuating down wards recently. Rewards are not been paid on posts, God will safe us. I follow and upvote you.
It will be interesting to see if they say anything. I'm not under the impression they feel the need to explain any actions they take. It is an extremely odd relationship.
Thank you for this alert, essentially.
Its people like you and @kp138 and all the others who dig it up and post it for all to see, that do a great job at informing us. Because, I look to the feed for info on Steemit obvi, who else would know better than its users.
Keep it up @cryptokeepr. Thank you
I think this is an important question. The lack of response from @steemit is concerning. They need to try to be more open about their activities.
a good post becomes a lesson for those of us who read it thanks for sharing the greetings of steemit