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RE: Urgent Community Petition: Steemit Inc. to Stop 34 Mil SP Powerdown!
They have said they do not intend to sell it any more quickly. Therefore, either: a) there is no benefit to be gained in terms of distributing the stake, or b) they are lying and will sell more of it.
The costs of this action to the ecosystem in terms of lack of transparency and security and scrutiny of the dangerous block of concentrated stake will be incurred without any offsetting benefit in distributing it.
Thanks for the additional info, that helps. Do we know the rate of sale now??? They would need more Liquid steem to increase that rate of sales, which would not necessarily be a bad thing in a rising market. I have increased my relatively small stake +20% in Dec. due to the low prices :)
The stated rate of sale is 800K STEEM/month. There is no sort of audit or anything so we are mostly taking their word.
42.5 months to blow all that out...