What about the manipulation of the largest holders of HUNT tokens, the founders, for example, dumping their tokens immediately as soon as they go on sale and cashing out? What do you think that does to those buying the tokens? They would be part of a pump and dump scheme then.
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The founders have 2 years vesting. This time is not your usual ICO team. No offense to all honest ICO teams, I just have seen too many teams without vesting terms.
Its a possibilty, but at the end of the day, the rank and file Steemians who earned their tokens over a long period of time should be given the same opportunity to trade them if they desire as the people who boght theirs last week.
You dont think these 'investors' won't be dumping their holdings if the token price increases? That is also pump and dump and the result is that the token earners miss out when the dump happens and the price drops.
As I said, it should be their chance to take, and not be excluded by last minute rule changes by @steemhunt
Sometimes decisions need to be made for the best of the business. That is not to benefit the team, that is to protect everyone.
Often, the behavior displayed on Steem can also be a deterrent to attract more businesses. Have you noticed how often it is a “can’t win” attitude which is always displayed?
This is what currently happened and you complain about: dApp decides to protect the token value. User decides it’s manipulation and it’s better if everyone can just earn less because system favors total dump even before market creation. ¯\_(ツ)_/¯
Last minute rule change? The “rank and file” benefit most from it because most don’t even know the need to first create markets.
You understand that those who bought them last week(s) and their activity will be are market making, right? Without them... no demand for a token and thus the rank and file could dump all they want for zero market.
Of course, you would have been right if so far nobody had earned on Steemhunt, but that isn’t true. Everyone already earned STU too.
All those tokens, even the community member roles like mods, are airdrop tokens. If Steemhunt had decided airdrop tokens will be available only after 90 days, because “bonus tokens” then that would also have been a fair system.
The “rank and file” needs to start using its brain slightly more often rather than being an entitled own goal scorer. A deterrent to new businesses joining due to its attitude.
The problem is that investors are not going to invest if there suddenly millions of tokens are dumped on the market. That would affect Steemhunts ability to trade in the future and every other Steem based token that follows.
Yes buyers will sell once they see the price go up...that is why they are buying in. Steemhunt has a responsibility (as do all token project) to protect the price of the token and leave the platform open for liquidity.
Again put yourself on the other side. You decide you like the Hunt project and buy in when the tokens go live. It is 2 cents but then, suddenly, another 150M worth of tokens show up on the sell board because the founders and other large holders decide to immediately cash out. How would you react seeing that the insiders were just profiteering off the backs of newer buyers? I am sure you would accuse them of manipulation and running a con (which would not be totally inaccurate).