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RE: Down, but not out - An update from The Steem House!
While I have always promised transparency, I haven't posted nearly enough updates about the regular goings on, and how the whole project is being managed.
How were the original funds used? I may have missed a post, but I seem to recall they were cashed out?
Where did that initial Steem go?
The original 2000 STEEM raised from the Dream Team depreciated in value by around 40% before I began to withdraw it in an effort to salvage some of its value. It was spent in large part on setting up the STEEMHOUSE Token, and marketing for both the project and crowdfund. With the market as low as it is currently, I'll begin holding much of the funds earned in the form of SP, in wait for its inevitable rise.
I remember explaining this at some point, but can't honestly say if it was a conversation with someone, or something I said in post form or in the discord. Again, the project will become much more transparent than it has been, and I'll be publishing much of the budget directly to the blockchain.