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RE: Steemit: The Dumpening – Or – What to Expect from the Coming Changes
Nice post. I'm also working on one but mine brings much more fear to light.
One big question with the dev's powering down:
What do you think will happen to investor confidence when the owners are exiting with a potential timeline of 13weeks? ~1 fiscal quarter?
With steemit less than 1year old, it's rediculus that the Devs are already cashing out without providing some clearity as to where the money is going, absolutely no transparency.
Sorry, but this looks like a developmental cash grab, ponzi sceme that is about to crumble. Your completely right, How can the developers seek investors when they are cashing out?
Here... Please come invest your money in this revolutionary idea while I cash it out....
It may not be good for confidence initially, but I don't believe that the "owners" are going to sell their entire stake. They still have a fairly good reason to remain as large stakeholders, unless they completely abandon the project. I don't think that's the case and I hope I'm not wrong about that. Confidence will come from investors when they see that the currency is being used to create additional/better interfaces and that the potential for widespread adoption is greater. Investors won't show up just because some people stop selling their stake. They'll show up when the currency has sound fundamentals - like actually being used in commerce.