Thanks for the heads-up, @whatsup. While I agree with you on the principle that what Ned does with his SP is his business, I also would note that it is widely viewed as a negative in any market when the CEO of a company sells off his shares (i.e. appearing to show a clear lack of confidence in the company business model). This is especially the case when the stock price goes down below it's value the previous year, as is the case of Steem, which has caused it to fall from the number 20 spot several months ago to 38 today, as I write this.
One good thing about Steemit, at least in this case, is that we can all see in Ned's wallet that instead of cashing out directly, his wallet only shows a Transfer of 200,000.000 STEEM to @brixtongg 15 days ago, which I'm guessing is one of Ned's many controlled accounts. Then that account has been steadily cashing out via Binance and transferring some to @huobi-pro, another account of no posting activity other than cashing in and out to Bittrex, Poloniex and some other accounts I guess he controls too. He does have quite the array of accounts he's playing with.
They made it to be transparent this way, so it only seems logical that people will watch and ask questions, especially when @Ned does appear to be adding a lot of sell-off weight to the Steem price and thus anyone who is invested in Steem does have a right to question some, in my view, especially when the Steemit power down system is designed to limit how fast people can run for the doors, if they fear the worst. I did just see on @berniesanders post that Ned denied controlling that account. Personally, I believe if he believes in Steemit he would do well to be more transparent as to what and why he is selling off his stake in steem for. That goes part and parcel to being a CEO of a public company in my view.
I don't agree. I would if it was SteemIt, Inc's share. (Which he also doesn't explain, but should) He own stake is his own. Doesn't stop people from talking though, I get that.
Is he selling his Steemit Inc. shares too? I ask because you seem to imply that. If so, it might explain more and that could in my view actually be a plus. Still both his steem and his Steemit Inc. shares are both assets in the same business and in my book anytime the most significant holder of an asset sells a huge chunk of it shows his/her lack of confidence in the asset itself, which typically doesn't bode too well for the business.
I'm not quite sure I follow what it is you are dissagreeing with me on, as I just stated what is generally the way the markets view large sell offs by CEOs. I would agree with you if it were 5 or 10%, but we're talking a good 30% at this point with 354,351.591 STEEM liquid in his wallet ready to do whatever he wishes with at any given moment. No matter how we look at it, when a whale gets out of the tub too fast it causes the water level to drop significantly. It's my hope that he slows his sell off down to allow us plankton time to finish powering down before the price level drops further from the already 50% of what we bought in at.
No, he isn't selling steemit inc stake to my knowledge thank you for clarifying.
Thank you for clarifying that. I had hoped it may be true, as I've always felt 51% control of Steemit Inc. is too centralized of a "decentralized blockchain".