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RE: Is it a better idea to power down with a hard-fork instead of a market dump?
Sure! but 60MM to take out over the next 2 years means 83K a day dump. Current steem market size is 200K/day.
That's 41% of the entire daily volume that contributes to the sell wall.
I agree that it contributes to the sell wall. The 60MM power down of STEEM Power contributes 577K a week to the amount of liquid STEEM. The liquid STEEM does not earn any interest. I'm not sure whether the 577K STEEM units will be dumped on the market all at once or spread out to dump about 83K on the market each day.
Either way, as you pointed out, it contributes to the sell wall that tends to cap or even lower the price of STEEM in U$D.
What I was trying to point out is that the 60MM power down given the current compounding interest rate of STEEM Power will not reduce the account holders 60MM in STEEM Power. Thus, a much large power down and dump of STEEM onto the market is likely in two years from the account holder, @steemit.
Thanks for replying,
Steem on,
Mike
they could have hardforked and solved the problem.