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RE: Basic Game Theory: Why Steemit Whales Won’t Sell Past a Certain Point
I agree with you to a certain extent. How would you explain the relentless oversupply of oil? Would these oil producing 'whales' not be doing whats in the best interest of the whole?
If so then why arent they?
This is a very interesting idea you brought up. Im definitely going to think about this more how it relates to steem, but the problem that caused oil to drop was basically for a long time you had an Oligopoly (small amount of firms selling a single good) that controlled oil in the middle east and decided to only let a certain amount flow out at a time. Now with increased production in various parts of the world , this Oligopoloy was forced to turn more into a competitive market which is why the prices fell. The oil prices were always inflated to begin with because an Oligopoly controlled the supply. I guess we can see something similar here, if one bad actor decides to dump at a massive rate.