At such a low price, approx $30 million, STEEM is pocket change in the overal scheme of things. When you put it up against other established Social Media platforms say around $300 -$500 billion. It would be easy to leverage this weight to nail Steemit to the floor. With this sort of weight you could drive Steem to a Mkt Cap of $1.00..!! How? Easy. You just need a few buyers and a few sellers and just keep selling and selling and selling. If no new money comes in this would be sold shorted to the floor in a heartbeat. Stephen
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Ah... I see.
So if I were an evil bastard, I would tell several of the Massive whales, to each of them, with all the Steem "Here's a million bucks in this suitcase. Take it - it's yours. Now sell ALL of your Steem, ALL at once, and crater the price to crush the hopes of Steem ever being worth anything."
Poof.
Steem value dusted, it's off the map.
If that's how it could go down, I get it.
I've never blogged before and I love it.
Never cashed out, it's fun knowing my posts have value, and that value is reflected by upvotes.
Honestly, I love this new hobby and I'd buy up that cheap Steem just because I enjoy what I'm doing.
Let's hope there's enough people like us out there...
Thank you for walking me through this.
I sincerely respect and appreciate your time Stephen.
Have a fantastic weekend brother!