POWER DOWN isn't bad at all
Sure they do - but this said this doesn't mean they harm the ecosystem .. as they starting re-distributing them .. so at the end of the day the distribution is more fair and whales become less influence able. Also me for example selling STEEM and if price is decreasing i'm buying back :) Just said - may just try to consider this into your analysis next time.
Happy Steeming!
Alright, that's interesting. Buying it back is nice and all, but if you buy back just to sell later again, you are not really helping anything. We need people to buy and hold it, so the supply decreases.
Also some people buy STEEM on exchanges and don't even know about Steemit, so whale influence is unchanged. If it's not bad then why is STEEM price in free fall mode right now , you could say it's a correction, but if the supply wasn't enormous, the correction wouldn't happen.
We need a way to either decrease the supply massively or increase the demand.
Some smart people might try to get STEEM on new exchanges ?
It's economics, Steem is only a baby right now. If development continue as it has i am certain we will see a great rise and plenty of more users.
@summon got the right idea. And @lorddominik007 Where there are buyers there are sellers. Some uses steem as a speculative currency and are in to short term trading to make a quick buck or two. Others hold it, increases their steam power and gain influence. I don't have much steem but whatever i earn i use to power up, all about the long run. We can only imagine the great things that awaits us.
Yes, but right now there are four sellers for 1 buyer and that's being generous. While you may be holding it, people like @berniesanders and lots of other whales are currently powering down.