A friend of mine here at @caffetto has speculated that the reason STEEM dives every time it hits $0.50 is that it’s a resistance price that Steemit Inc. sells huge amounts of STEEM to pay for resources, server costs, devs, etc. He postulates it as “necessary”, but “unfortunate” because it repeatedly crashes the momentum. No idea if that’s true, but it would make sense to me why we’re watching so many alts moon and STEEM struggles.
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That would have been a good argument in the past. But after the implementation of MIRA/Hivemind, the restructuring of the team and adds revenue the need to sell STEEM has been lowered significantly.
Currently, they are not even powering down anymore.
I disagree. They can restart the powerdown at any time. They need to start burning their stake to send the correct message to investors.