Steem doesn't have a management team. You're confusing it with Steemit Inc. Steem is a blockchain that has lots of different projects working on it, like the app I'm posting this with :). I also think it looks like Steemit Inc. has got its act together now. Read all the latest updates, things change fast.
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I tried to avoid powering down but when the entire crypto market collapsed last month it severely limited my options. Now to pay immediate living expenses I have to power down while a month ago with the prices 50% higher or in some cases 100% higher for most crypto I was planning to wait it out.
My entire Steem account is worth maybe $10,000 at this point if it goes to 10 cents that would be $5000. So my entire account might be able to pay living expenses for a month or maybe two but at the below 10 cents level it wouldn't even be worth that.
So the smart thing for me to do would be power down and get at least something before there is nothing. There is also no promise on when SMT will be ready. March?
I think also there are other problems. Even Steem Dollars aren't worth $1 so we can't hold our money there.
Your account may be worth $10,000 now, but the power down process takes 13 weeks doesn't it? Steem might drop even lower in that time. You still have to cash out to Fiat all the while price drops.
Woa! $5k expenses for one month? That's expensive. Find some cheap country to live lol
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