It is interesting that the big exchanges seem to be accruing a lot of steem - is this because people deposit on the exchanges and then leave it there to trade back and forth?
I'd hate for the bulk of steem to be held by exchanges rather than individuals
@teatree I would imagine the exchanges are using their 'free float' of customer funds to power up and share in the rewards. Similar to when stock brokers lend customer shares out to 'short sellers' for a fixed period of time, in exchange for a fee...
EDIT: I must have been looking at the wrong column. Neither Poloniex or Bittrex have large Steem Power holdings. Just a big account of Steem which represents client funds...
Thanks @smooth
they really cant (shouldnt) powerup as it locks it up with a 2 year payout, but customers can withdraw the STEEM at any time. exchanges better have all their STEEM as STEEM!
The blockchain is really transparent. You can see customer funds @bittrex and @poloniex. It isn't being powered up.
Exchanges do get to keep the interest generated on customers' SBD funds , unless they decide to credit it to customer accounts. None has done that afaik.
No exchanges offer lending of liquid STEEM for shorting yet but I'm sure that will come in time.
@jl777 see my EDIT in my post. Neither have powered down. I was looking at their Steem holding (representing client funds) not their MV representing Steem Power where Bittrex and Poloniex are nowhere to be seen...
Correct @teatree These accounts are client funds pooled into the exchanges account. I made a mistake in my previous reply.