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RE: I never thought I’d say this, but - I’m powering down my SP... Here’s why
As you know, @spinvest was criticized by some curators as being a sort of egoistic reward tool that does not add value to Steem. This is of course not true. But by advertising a SP power down you nourish these allegations. I mean it is one thing to power down, but to even advertise it?
I am also in SPI but I would not put all money in it. There is a risk of a "bank run". If for whatever reason all want to sell their SPIs at the same time, it could become ugly.
I am not going to comment on the ethics of making a post about powering down. I think everyone on a decentralized platform should be able to write whatever content they want but i also believe that other users of that platform are free to upvote/downvote that content based on their personal believes. I personally am also doing a full power down for the same reason but i have more confidence in SPinvest and trust is not an issue for me as i hold the keys.
A run on SPinvest with everyone wanting out has already thought about. It's in the terms and conditions, a full winding down would require 13 weeks.
If say, for example, a third of token holders wanted to sell. This would require a power down and take around 4 weeks based on a third of 13. They would receive the 95% buyback and real token value for remaining tokens would increase. It would not be messy at all.
Thanks!
Really I’m just trying to shill SPI is all. We need more investors getting involved. 130 is not going to cut it to get 1 M tokens sold
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