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RE: Steem experiment: Burn post #1
I'd prefer the steemit account burned ...
Or at least put to some good use as a functional GUI or a person keeping people informed about the things done by our worldclass developer team who obviously finds no time to inform us what is happening. E.g. what will happen to the 71 mio Steem that are put on power down right this moment...
My theory on the power-down is that they have contracts with SMT investors that require @steemit to provide the STEEM needed by those investors at some contracted price, rather than the investors buying in the markets. (In thin markets, substantial power-ups can create massive price spikes.)
Since the contracts would be subject to non-disclosure agreements, @steemit is in a bind and can't announce or explain the reasons why they are powering down.
" they have contracts with SMT investors that require @steemit to provide the STEEM needed by those investors at some contracted price, "
In other words, they are fucking all of us over by selling at a below-market price to Steem newcomers, subsidized by fucking over those of us who already paid market price?
I don't care much for your explanation, frankly, though that is not an indictment of you.
However, framing this as anything but shady bullshit theft from the rest of us is STINC supporting propaganda.
The shady bullshit theft happened two years ago with the massive premine. That there are still consequences of that is not a surprise so much as an inevitability. I choose to be here because I see potential in spite of that.
@josephsavage is correct - the shady shit was the pre-mine.. Selling them at any price - giving them to friends, burning them, who the fuck knows - none of those actions hurt the community any more than the initial pre-mine did.
In fact, breaking up giant whale accounts and distributing them to new users will strengthen the community in the long term.
I remember a time when Bitcoin bagholders all started up Bitcoin faucets in order to distribute the coin into the community.. Were they fucking over those who had mined or bought BTC because they were not selling at market price?
That's my most probable version, too. Funny, I wrote about it like a minute ago...
Fucked up if true, means Stinc is fucking us all by selling to new investors at below market prices.
How does that hurt you?
It doesn't...
I have in the past given my Steem away for nothing.. Did that fuck you over because I didn't charge market price for them?
No.
FYI it is on power down.
That's what I've seen and that's what worries me. And thats what should worry every investor with half a brain, as long there is no further information. steemitblog is silent, ned is involved in his in his ex-marital disputes with dan and has even no time to wish a "happy new year" or "merry xmas" to his great community.
Sorry for the bitterness... I am all into positivity and actually DOING something good, but THIS is just some unneeded BS.
(Burning SBD would probably be a working patch for symptoms, but as long as some big whales are more interested in making even more bucks by selling their votes for short term gains instead of stabilizing the ecosystem, I don't see a chance for anyone imitating your efforts.)
Don't worry, he does have time to self-vote himself $6000 dollars while he argues with his ex-boyfriend:
LOOOOOOL, saw that
Imitation isn't needed, only votes. 10 burn posts per day can consume all or nearly all of the entire reward pool if they get enough votes, and I can certainly set up a bot to make 10 of these posts (and also to automatically burn the rewards). But as you say that is a drop in the bucket compared to the steemit account, so these aren't really the same issue at all.
Out-of-pocket-expenses... :-)
