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RE: What is it about STEEM that its tanking so hard? // An open letter to STEEMIT.INC
starting out by assigning themselves 80% of the stake (they have less now, but still a huge percentage).
That's pretty much the only reason I read from people complaining about Steem on reddit & co.
Maybe it's time now that the rest stake or part of it is actually locked behind the mechanism? Or maybe it doesn't make any difference anymore?
It makes a difference to the governance issue if it is made non-voting. And it may make a difference to the market price if it is locked from selling faster than a given controlled schedule. XRP increased dramatically in price when the Ripple company did the latter, but prices are always unpredictable so we can't say with any certainty that STEEM would do the same.
I understand, but do you think it would make people rethink, who have a bad memory about Steem due to the pre-mine?
It did with Ripple. Of course there are still many Ripple critics (as with every blockchain) but from an investment appeal and price perspective it certainly seemed to have made a big difference.
ripple did it very successfully, I would love to see steemit inc consider such move.