They also didn't really want the whole world mining, but they went through mining to make it legal to do an ICO without doing an ICO.

Thanks for the refreshingly brief explanation of the magical-ninjamine.

If they just (slowly) dumped 50% of their steem on the open market, that would probably fix at least 50% of the "distribution problem" (and the "price" of steem would also more closely reflect what the real-live-actual-free-market will bear).

Contrary to popular belief, I think a very low market price for steem would actually accelerate adoption. A reliable micro-payment system is a massive paradigm shift that could destroy established "norms".

It's pretty easy to squirrel away 90% of diamonds in secret vaults to create artificial scarcity, and then claim your secret-vault-diamonds are worth a-hundred-zillion-dollars, when in REALITY, those diamonds are worth LESS than rubies or emeralds (on the open market).