STEEM is now available for trading in Poloniex. Will we see it continue to rise or will be this be the end of the rise for the time being? I hope we see it rise again.
Now they can manipulate the price on a perpetual uptrend as Ethereum did?
Note apparently the SP power downs are periodic, so perhaps this gives them windows of time when others are not competing too heavily in the float?
I don't know why Ned and Dan don't have someone manipulating the price as Ethereum does. Seems that with their large holdings, and the very small float of STEEM, they'd be buying from themselves to jack the price up.
Their holdings are illiquid and quite transparent and only a small portion has been liquidated (and if you work out the numbers and think about the likely run rate for the development team, it has very likely been spent). They may have other resources, but there are no ICO funds and there is no huge warchest from already-realized trading profits.
Yes, it was a sneaky-mine and it was underhanded, but when it comes to lack of transparency and opportunities for manipulation it is miles ahead of coins like Dash or Bytecoin (and Ethereum) where a huge slush fund was immediately (or at least almost immediately) available with no accountability at all.
Not exactly. Perhaps you forgot your own major point to me, that insiders can take out loans and pay them back with their guaranteed revenue stream. Obviously in this case they need to take out loans in Steem tokens and
I don't know what the interest rate would be.
Apparently the CEO of Streemit is in control of 80% of the SP and could sell that at any time (even perhaps facilitating the sale by selling the private keys thus not being visible on the blockchain), even though it takes 1 year of weighted average time to cash out. I'd urge him to do so now and start supporting the price. Not doing so is not being competitive against tokens that are upward price manipulated (e.g. apparently Ethereum) in this speculation market place (the free market forces us to do it, whether we like it or not). Of course, one has to weigh the legal risks though.
I am adopting smooth's recent pragmatic (and admirably free market, anarchistic) stance, which appears to be that all that matters now is winning and getting the masses into CC. And speculators get a game to play along the way.
Morals are arbitrary (e.g. unfalsifiable, ambiguous Buttery Effects, etc) jails shit for church.
Perhaps someone needs to whisper to them to not be losers. Our goal is to make CC successful. Any path that can get us there should meet our ethics, as long as the end result is permissionless, trustless and thus bettering humanity (or bettering humanity in any other way, which might mean just being successful in any way we can).
Would doing so obscure valuable market pricing information? That is something to ponder and argue.
