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RE: What is Steemit Inc Telling Us With This Power Down?
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..
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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.