What the F$&@?? You don’t own a company, private or not, (and publicly announced on the blockchain) and randomly sell 50% of your stake. Damnit Ned. I DEMAND AN EXPLANATION!?
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.
In any case, Steemit and the company behind it have lost much of my trust.
Looking at Steemworld is is the first time I think. And “Rumor” has it would be nice if that is factual and he could have done it ahead of time. Say “Hey I’m powering down to Support SMTs”. Anything.
We are pondering what you are intending to do with all the STEEM you will get as you shut down. Do you intend to help extends on the STEEM Platform or Cryptocurrency in General?
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Just because he's initiated a 1.8 million power down with his SP, does not necessarily mean he's planning on powering it all down. Power down's are made in 13 payments, weekly. The bigger the amount you are powering down, the bigger the weekly payments you get, and at any given time you can cancel power down.So he may only be planning on powering down 1-3 weeks, and then canceling.
I don't really think it's appropriate to call him a dumb ass. I doubt he came to hold a current stake like this being a dumb ass, and the retaliation you could encumber by using such harsh words is quite a gamble, but that is your prerogative. I could personally care less, I just think thats a bit harsh. And who know's he may actually give you the explanation you are looking for, because you did show up on his steemworld mentions from this post.
You may be right it may be harsh, probably shouldn’t have said it, I’m sorry @ned ...however. This is the epitomy, on the cover, of Zuck selling 50% of his FB ownership...and that is unarguable and I want an explanation since i follow all markets.
Fair enough. I have heard quite a few people that seem to be quite upset about the mysterious power down talking about it in discord. I think it would be a kind gesture to the community to at least make a brief post explaining his intentions, because he very well could just be planning on taking a few payments out, and cancelling power down, but none of us know for sure...So I understand snuffles. I was checking out some of your posts on markets. Nice work!
PS. I'm with you on steemmonsters. I hope your analysis turns out to be the correct one!
As a CEO you have a certain responsibility and that's why he should communicate. If a CEO announces to sell half of his stakes but does not do so, other investors will also power down as a precaution.
He isn't either. Do you even know how a powerdown works? You don't even know if he's selling it at all. If you are going to reply to me rudely you should at least have a clue
I’m not being rude, I’m simply saying that he should have said something, or disclosed a reason, instead of surprising the ENTIRE platform with a 50% powerdown. I know it takes 13 weeks and you can cancel it at anytime, the point is that PRESENTLY if your a market player, which I am, you have to assume the worst unless he says something.
Dunno, what he does with his money is his business. The block chain provides transparency, he doesn't owe anyone an explanation. If you get shafted by market movements that's on you not him.
Steepshot
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.
In any case, Steemit and the company behind it have lost much of my trust.
100% agree. SMTs may in fact just be a pipe dream failure...
Choose the reply you like most:
A. It's not the first time he has powered down. How the hell is he supposed to pay his bills?
B. Rumor has it he is going to invest it to create a new NedCoin SMT. Now who wouldn't invest in that?
Looking at Steemworld is is the first time I think. And “Rumor” has it would be nice if that is factual and he could have done it ahead of time. Say “Hey I’m powering down to Support SMTs”. Anything.
Wow, those bills must be exorbitant. 😂
We are pondering what you are intending to do with all the STEEM you will get as you shut down. Do you intend to help extends on the STEEM Platform or Cryptocurrency in General?
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Just because he's initiated a 1.8 million power down with his SP, does not necessarily mean he's planning on powering it all down. Power down's are made in 13 payments, weekly. The bigger the amount you are powering down, the bigger the weekly payments you get, and at any given time you can cancel power down.So he may only be planning on powering down 1-3 weeks, and then canceling.
I don't really think it's appropriate to call him a dumb ass. I doubt he came to hold a current stake like this being a dumb ass, and the retaliation you could encumber by using such harsh words is quite a gamble, but that is your prerogative. I could personally care less, I just think thats a bit harsh. And who know's he may actually give you the explanation you are looking for, because you did show up on his steemworld mentions from this post.
You may be right it may be harsh, probably shouldn’t have said it, I’m sorry @ned ...however. This is the epitomy, on the cover, of Zuck selling 50% of his FB ownership...and that is unarguable and I want an explanation since i follow all markets.
Fair enough. I have heard quite a few people that seem to be quite upset about the mysterious power down talking about it in discord. I think it would be a kind gesture to the community to at least make a brief post explaining his intentions, because he very well could just be planning on taking a few payments out, and cancelling power down, but none of us know for sure...So I understand snuffles. I was checking out some of your posts on markets. Nice work!
PS. I'm with you on steemmonsters. I hope your analysis turns out to be the correct one!
It's not the first time he has powered down. How the hell is he supposed to pay his bills?
Who says he is going to sell it? There are a lot of things he could do with it. Even if he did want to sell some, that would be his right.
You don't know many CEO's then... They all sell their shares... cause.. they are gonna get more.
As a CEO you have a certain responsibility and that's why he should communicate. If a CEO announces to sell half of his stakes but does not do so, other investors will also power down as a precaution.
They don’t sell 50% of their stake at one time. C’mon man. If you are going to comment and bring that up, you should know that.
He isn't either. Do you even know how a powerdown works? You don't even know if he's selling it at all. If you are going to reply to me rudely you should at least have a clue
I’m not being rude, I’m simply saying that he should have said something, or disclosed a reason, instead of surprising the ENTIRE platform with a 50% powerdown. I know it takes 13 weeks and you can cancel it at anytime, the point is that PRESENTLY if your a market player, which I am, you have to assume the worst unless he says something.
Dunno, what he does with his money is his business. The block chain provides transparency, he doesn't owe anyone an explanation. If you get shafted by market movements that's on you not him.