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RE: What is Steemit Inc Telling Us With This Power Down?
They will make a profit if they paid next to nothing for it, but people who paid a dollar are certain to face a loss.
They will make a profit if they paid next to nothing for it, but people who paid a dollar are certain to face a loss.
Not all payments are in money. Time > Money. They've spent a lot of time on the project and could have earned "hard dollars" if they spent that time on something else.
I did say "if" they spent next to nothing. That making "hard dollars" is true for most of us and if no one buys Steem it doesn't matter how much time they spent on it. I took the same risk cutting a record back in the 80's, if no one had bought it, I would be out the money for the time it took to write and rehearse the material, studio time, mastering, and printing. That's the way it works. If they could've made more money doing something else; why didn't they?
BTW, how do you even function on just 11SP?
True..
I still think there is a community willing to buy under 20ct.
This would also be positive for distribution.
That it would, but how many are there? I may buy again at $0.01, but then again, I may have a long time to stumble upon something else. I'm powering down for a week so I have a bit of liquidity. I'll re-evaluate at that time to either stop the power down or continue.