I thought this too, and then I saw this via SteemDown.com
@steemit is powering down 1 Million a week. The Steemit account has 1 post, and does not vote (therefor, it does not distribute it's funds to the network, it does not reward the people who give the network value.)
Really curious about an economic explanation as to why this would be acceptable, (1) why the primary holder of steem doesn't redistribute it's funds to those who give it value and (2) why will the primary stakeholder have zero stake in the network in less than 2 years.
Are they liquidating to make up for overhead? Will they stop the powerdown after a couple weeks/months? All possible reasons, but so far, it's been mostly silence.
@steemit is the main account, the default one. It's also the one that funds the development of the entire platform I think. It doesn't have activity because it's just a holding account for the Steemit Inc.
Yes, but it's also the majority stakeholder, and it's a 100% power down at $1M USD a week. I have a really hard time believing Steemit has a burn-rate of $4M a month. @steemit has 60M Steem, the available supply of Steem is 100m, That's 60% of the entire supply of Steem.
(1) The account doesn't vote, so that is not redistributed to the network.
(2) It's a 100% powerdown, in <2 years the entire account would be depleated unless the powerdown is stopped.
Again, there could be legitimate reasons for this, but I'm hard pressed to find any.
HolySmoke!... AND they're o.k. with spam, because it increases their profits... i'm seriously starting to think it May be a scam in fact...
Well, there is no "they," only a "we." While there are definitely still whales with supremacy, they are being diluted on a daily basis. Dealing with spam is up to everyone, and there are projects that deal with problems like this, see @steemcleaners.
Whales being diluted or created....? i suppose when you're level 60, it's We, when you are a lowly minnow then it's they .. In fact there wouldn't even BE a fish theme at all if not for having to come up with a term to describe the Massive impact of a level 70 Rep... the Whale came 1st, then the minnows
Look at my Blog i am a big supporter of Steemcleaners .. As big as a minnow can be !! YARR !