WHY IS @NED, THE STEEMIT CEO POWERING DOWN?

yaanivapeji (65)in #steemit • 6 years ago

Photo from @kp138 post.

This morning, I woke up logging into steemit and seeing different post saying that @ned, the CEO of steemit is powering down. I didn't think it was true and so I went to check his account and I saw that it was true, he is powering down. He is powering down 1,800,176.467 steem power.

When I saw that it was actually true that he was powering down, it made me have indigestion. No, am just joking, I think the indigestion happened because yesterday I came back late in the night from work and I ate a high proteinous food and instead of me giving it time to digest before I went to sleep I immediately went to sleep after I ate because I was tired, so I think this is what caused the indigestion. But I am recovering from the indigestion now, thank goodness.

But @ned powering down got me wondering why he is powering down that much of his steem power? To me, when I see people powering down, it makes me think that they are leaving steemit and this is why it concerns me that @ned is powering down. I have seen different guesses has to why @ned is powering down. Some people have spelt doom for steem and steemit, seeing @ned powering down. They say that because of @ned powering down, it will be the end of steemit after three months.

But some people think that @ned is powering down some of his steem power because he wants to fund this SMT project he has been working on. Well for me cryptocurrency, steemit and steem is still a wild, wild west, we are still not certain about the future of cryptocurrency.
But let us just hope that @ned is powering down for the good of steem.

Steem on.

@yaanivapeji

_{Oboi I have never mentioned @ned name as many times in any other post as this one before.}

#steem #community #blog #nigeria

6 years ago in #steemit by yaanivapeji (65)

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sevenseals (58) 6 years ago

In my opinion it is absolutely irresponsible that Steemit CEO Ned Scott reduces his voting power by 50% without making any announcement. Imagine, Elon Musk selling 50% of his Tesla stakes without any statement about it. Would you like to be invested in such a company? I certainly don't.

It is not the case that everyone who holds a larger stake is obliged to make a corresponding statement to sell his shares. But, as a CEO you have a certain responsibility, because you can cause panic and cause considerable damage to the company and its investors or in this case also to users.

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5 votes

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yaanivapeji (65) 6 years ago (edited)

Exactly @sevenseals, this is what I was thinking too. I don't know if this is how decentralisation works, that a CEO can just take out shares without telling any one?

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zuckerzombie (48) 6 years ago

Very interesting information - I didn't see the news about @ned and his powering down. I'm also wondering why he does that? As a newbie on steemit it's not easy to understand everything on steemit. But thanks for sharing and please keep updating such important information @yaanivapeji:-))

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1 vote

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yaanivapeji (65) 6 years ago

Yeah, I understand you @zuckerzombie, you are still tracing your way around this platform has a newbie, I was there before.

I will try to keep updating you about the happenings on steemit.

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joalvarez (69) 6 years ago

I found this out about a month ago, and it got me pretty worried, but like you said lets hope it will not hurt us too much.
I still see his post here and he is still trying to help improve steemit which is good to hear.
Thanks for sharing @yaanivapeji