When you transfer $1 million dollars, I'd like to think it would be important enough that you wouldn't be eating a bag of tostitos and couldn't think of a better name. :)

That type of transfer is fairly large I'd say.

Why wouldn't steemit cash out? Who says it is being cashed out. If one million STEEM hit the market in one day the price would have skydived already.

At this point, it's too early to tell what's happening.. but eventually we'll all know. :)