You are viewing a single comment's thread from:
RE: Steemit Inc. Powerdown Due to Fears of Having Accounts/Stake Stolen in Future HardFork
@krnel, thank you for sharing with us your thoughts. I am not a tech geek, so I don't knyiw how reliable STEEM Blockchain is. But, in my view, Steemit Inc. is moving away his STEEM, because they're going to sell it. They simply need Fiat. And, of course, Steemit Inc. understands very well that crypto is in Bear Market and the price of STEEM may drop to $0,10 and less ... So, they just want to sell at higher price. That's my point of view.
Posted using Partiko Android
If there’s a huge dump, that could mean all ninjamined coins were sold and everyone can get in for cheap.
@inertia, what do you mean "ninjamined"?
Posted using Partiko Android
Might not matter anymore, if it ever did. But Steemit, Inc.’s Steem was mined earlier than most, so people who saw that cry sour grapes and call that practice ninja mining because they got it before anybody realized it might be valuable.
@inertia, you mean "premining"?
Posted using Partiko Android
My understanding was it wasn't premined or ninja mind, it was just farmed for a few days while only a group of friends essentially had the know how of the system, and releasing code wasn't done promptly or on some elitist we must be notified forum.. shrugs they needed their 10% donation in the end to promote the system as they did,.. however... Transitioning to a for profit company running non block chain traditional revenue streams system makes sense.. steemit is not steem.. steem marches on while some will possibly leave steemit for more free options, most of which charge their 10% now for posting and such... iirc pretty much every app that allows posting does this.. it's not like steemit runs their own bid / buy bots... Past that, it's not hard to also use some other cms type systems to completely ditch steemit and run off a static site somewhere like GitHub.. steem marches on.
** Shrugs ** I'm stoned, what do I know ^>^
Steemit's stake came from the original mining that took place to start the blockchain.
@taskmaster, you also mean "premining"?
Posted using Partiko Android
No, that’s different.
Got it! Thank you.
Posted using Partiko Android
Honestly, who would buy all of the coins they try to dump. Maybe they'll put a sell order in, but there's barely any volume to chip away at their overall stake of tokens. Am I off here?
Place a sell order at $0.05 of 20M Steem, and you will be surprised how fast the left sell-wall (at $0.05) will meltdown and dissapear. You will be surprised.
After all, less than 300 BTC will be required to waporise all that.
300 BTC !
The buy walls are on standby.