You can't do an Exit Scam when the product is released and working already.
An Exit Scam means the investors are left with nothing, no investment, no product.
This is probably an Exit... but calling it a Scam is a bit too much.
It depends on your perspective of course. What I came here for, turned out to not be adequate and the time and hard currency invested, evaporated.
While there are people here making it worth sticking around, you can't really be surprised at the reactions you are seeing everywhere; people are pissed.
Having faced one disaster after another, maybe it's better to let people vent, besides, no Football match has ever been won by the cheerleaders waving pompoms on the sidelines.
There are close to 1.2 Million accounts; where are those people? Do they exist? Don't answer that, we already know they are fakes/scams/bots/alts/wallets/transfer stations for groups obfuscating their dealings.
When I invested in Steem they said their stake (obtained thru very questionable means) was for development and expenses. No one mentioned they were going to take off with it later or I wouldn't have bought any. Deception was used and I doubt their actions are legal
Not all payments are in money. Time > Money. They've spent a lot of time on the project and could have earned "hard dollars" if they spent that time on something else.
I did say "if" they spent next to nothing. That making "hard dollars" is true for most of us and if no one buys Steem it doesn't matter how much time they spent on it. I took the same risk cutting a record back in the 80's, if no one had bought it, I would be out the money for the time it took to write and rehearse the material, studio time, mastering, and printing. That's the way it works. If they could've made more money doing something else; why didn't they?
That it would, but how many are there? I may buy again at $0.01, but then again, I may have a long time to stumble upon something else. I'm powering down for a week so I have a bit of liquidity. I'll re-evaluate at that time to either stop the power down or continue.
Offcourse they are not selling now, but they are making preparations to sell when the prices will rise again. At least, that is what i believe after reading this article. Read between the headlines of the news and the signs that more mainstream crypto adoption is coming are there (Bakkt and others) but there’s also a new debt crisis looming around the corner, worldwide geopolitics are also very instable ... so, they are making preparations to be ready to sell their stakes as quick as they can when the time is right.
What a stupid comment. Scam is when you announce a project with lots of high targets and goals to get people to invest and after they invest, you sell your own bags without delivering any of the promises. STEEM is a working product with most of its promises already delivered and steemit has been one of the main players in delivering the promises so far. If they wanna sell and leave, it's just that. It's selling and leaving. It's not exiting a scam since there is no such a thing as a scam when it comes a product that is already delivered.
To be fair, I use the term "exit scam" right off the bat. The definition of which is not set in stone. If STINC says they are going to use that money for development and then they sell out and leave... scam.
This is especially true in the face of having the option of freezing their accounts. If we chose to not freeze their accounts because the money was going to development and then they dump everything on the market... yeah.
You can't do an Exit Scam when the product is released and working already.
An Exit Scam means the investors are left with nothing, no investment, no product.
This is probably an Exit... but calling it a Scam is a bit too much.
It depends on your perspective of course. What I came here for, turned out to not be adequate and the time and hard currency invested, evaporated.
While there are people here making it worth sticking around, you can't really be surprised at the reactions you are seeing everywhere; people are pissed.
Having faced one disaster after another, maybe it's better to let people vent, besides, no Football match has ever been won by the cheerleaders waving pompoms on the sidelines.
There are close to 1.2 Million accounts; where are those people? Do they exist? Don't answer that, we already know they are fakes/scams/bots/alts/wallets/transfer stations for groups obfuscating their dealings.
When I invested in Steem they said their stake (obtained thru very questionable means) was for development and expenses. No one mentioned they were going to take off with it later or I wouldn't have bought any. Deception was used and I doubt their actions are legal
If they sell it now they probably wont have much Profit..
Posted using Partiko Android
They will make a profit if they paid next to nothing for it, but people who paid a dollar are certain to face a loss.
Not all payments are in money. Time > Money. They've spent a lot of time on the project and could have earned "hard dollars" if they spent that time on something else.
I did say "if" they spent next to nothing. That making "hard dollars" is true for most of us and if no one buys Steem it doesn't matter how much time they spent on it. I took the same risk cutting a record back in the 80's, if no one had bought it, I would be out the money for the time it took to write and rehearse the material, studio time, mastering, and printing. That's the way it works. If they could've made more money doing something else; why didn't they?
BTW, how do you even function on just 11SP?
True..
I still think there is a community willing to buy under 20ct.
This would also be positive for distribution.
That it would, but how many are there? I may buy again at $0.01, but then again, I may have a long time to stumble upon something else. I'm powering down for a week so I have a bit of liquidity. I'll re-evaluate at that time to either stop the power down or continue.
Offcourse they are not selling now, but they are making preparations to sell when the prices will rise again. At least, that is what i believe after reading this article. Read between the headlines of the news and the signs that more mainstream crypto adoption is coming are there (Bakkt and others) but there’s also a new debt crisis looming around the corner, worldwide geopolitics are also very instable ... so, they are making preparations to be ready to sell their stakes as quick as they can when the time is right.
I am more worried about a bunch of leeches that keep posting crap and upvoting their own posts and comments with multiple accounts.
As far as @ned and the others, let them go. We will never achieve decentralisation as long as 3 people hold >85% of all the STEEM.
What a stupid comment. Scam is when you announce a project with lots of high targets and goals to get people to invest and after they invest, you sell your own bags without delivering any of the promises. STEEM is a working product with most of its promises already delivered and steemit has been one of the main players in delivering the promises so far. If they wanna sell and leave, it's just that. It's selling and leaving. It's not exiting a scam since there is no such a thing as a scam when it comes a product that is already delivered.
To be fair, I use the term "exit scam" right off the bat. The definition of which is not set in stone. If STINC says they are going to use that money for development and then they sell out and leave... scam.
This is especially true in the face of having the option of freezing their accounts. If we chose to not freeze their accounts because the money was going to development and then they dump everything on the market... yeah.