Eight days ago the corporate @steemit account did something that many here seem not to have noticed.
Start power down of 71,453,545.309 STEEM
Then, earlier today, the first 1/13 of that SP converted over to Steem.
Almost immediately, it was moved:
Transfer 5496512.514 STEEM to @steemit2
But it didn’t stay there long. Four hours later, much of it got moved again:
Transfer 3500000.000 STEEM POWER to @misterdelegation
Delegations (Out)And if you go to https://steemworld.org/@misterdelegation and click on the tab, you’ll find a 500,000 SP delegation to @busy.pay that was done today. As well as several large delegations to @dlive, @dmania, and @dsound all done exactly a week ago, not long after @steemit’s power down started.
So Steemit, Inc. is delegating lots of SP to these, much like it did a bit earlier with @dtube.
never powered down its SP. Now, boom, the corporate overlords have powered down all of it. Five and half million converted to Steem already. Five and a half million more next week. Five and a half million more the week after that. And so on, until three months from now, all will have been converted. (Granted, the power down could be stopped.)I joined Steemit not quite 10 months ago. To the best of my knowledge, @steemit has
Will massive delegations continue? Will some be sold on the open market or to companies gearing up for rolling out Smart Media Tokens? Will someone at Steemit Inc. make a fat finger mistake and transfer the next batch of 5496512.514 Steem to @preparedwombat?
Something huge is happening. And not a peep from @ned or @steemitblog.
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Thanks for the update, preparedwombat. I know all we can do is speculate at the moment, but do you feel this is a good thing? Could it be in preparation of a large announcement (SMTs) or is someone trying to cash out? I hope it's the former.
I doubt that it’s someone trying to cash out since it’s the corporate account rather than the personal account of one of the folks working at Steemit, Inc.
Very true!
SMTs?
Smart Media Tokens. SMTs are what other business will use as tokens when they run a dapp on the Steem blockchain.
Oh interesting.
That's the thing that bothers me. Not a peep out of the people moving all this currency around. It's gonna have a big effect in some way. I'm hoping and fairly certain it's something good but I wish they'd communicate. I'm glad more people are noticing and maybe it'll get the attention of those moving all that money and we'll get an explanation. They got some splaining to do!
The relationship is unusual and it isn't my impression that they a feel a need to inform any investors on their activities. I'm always a bit confused by the business ties, accountability, etc between SteemIt, Inc and the investors.
They very very badly need to hire a PR person or PR consultant to advise them about communication with their shareholders / platform users.
Remember the dDOS attacks awhile back? and maybe a few days or even a week after they'd started Ned finally posted a one sentence post about it saying something like "we're on it, we're always on it" or something very lacking of detail, short, uninformative, etc.
That's exactly the type of response we don't need. Repeated incidences like this are troubling to people and it could even drive people away (the lack of up to date info / communication).
Follow me and upvote all my posts. Comment 'something' on any of my post and i'll do the same. Come lets earn together:)
I hope this is somehow part of a big, awesome master plan but it sounds lika fishy :L
Exit Scam??? Sorry if dumb question i'm new not really sure what powering down is.
https://steemit.com/faq.html
From the steemit.com FAQ:
"Powering down - If you have STEEM Power, you can power down to turn it into liquid STEEM over a period of time. The system will transfer 1/13 of your STEEM Power to STEEM each week for about three months (13 weeks), starting 1 week from the time it is started. However, you will lose your influence in the network proportionally to how much is powered down, so think about it carefully. Power downs can be stopped at any time."
Its a huge movement ! I heard that they transferred this amount to multiple account to support different projects !
So they are giving steem power to other whales?
May be ! but I heard it is for support for the projects like Dtube, Dmania ,Dlive etc.
Interesting! Thank you for sharing! Keep us posted. :)
" Will someone at Steemit Inc. make a fat finger mistake and transfer the next batch of 5496512.514 Steem to @preparedwombat?" got me laughing hard. What do you think the implication of the powering down means to the entire Steemit community @prepardwombat?
I don't understand the coming back from moon of SBD lately. 🙈
I’m a bit baffled by this. The delegations done so far make a lot of sense, but the scale of the power down has me scratching my head. What else is in the works? Why now? Getting ready for HF20? Or is it something more.
So many questions.
A power-down can be canceled, too. If I needed a large chunk of SP, I'd power down all to get the desired portion as fast as possible, and cancel after. Just sayin'.
I was thinking this too... only time will tell
wow...
what happened....
hopefully it's okay....
Interesting, nice tracking! So far it seems like it’s just some “sorting.” After all, the power could have been delegated direct from the main account but was instead powered up into @misterdelegation for that purpose.
It’s absolutely a positive that it’s being used to support those well received communities. Steemit Inc. has always maintained their intent to gradually divest their holdings and we could be seeing the start. Additionally, once the velocity hardfork is complete, they should no longer require Steempower for the purpose of delegating to newly created accounts.
Thanks for the update. Good luck with that fat finger mistake! LOL
Thanks for sharing. I wasn't aware of this at all. I wouldn't mind some fat finger mistakes coming my way either... Let's make a deal! - I'll give you 50% of such a transfer if you give me the same. ;)
Resteemed!
thanks for your valuable post. keep posting like this
Thanks for keeping us with the update.. didn't even realize all those things have happened!
Good to see you following this @preparedwombat - I'm surprised nobody has really noticed.
Surely they are freeing up the money to put into something, but it must be big!
Follow the money...always a smart move.
I replied to your comment in that section.
I am just as lost as you and everyone else. This would be a good time for @ned to do a post...but alas, the steemit people seem to lack quality communication skills. I am not sure whether it is they do not care or are just ignorant to the value of keeping people abreast of what is going on.
Although with all the speculations posts, it does help the amount of content on here. LOL
Makes a person wonder something is going on and what is it?
I don't want to venture to guess, but it has to be something they feel needs to be kept secret. Hmmm .. thanks for your interesting post. @preparedwombat
I think they said they would be doing things like this a while back. Maybe they think the platform is mature enough now. It would be great if they were more up-front about what they do. They know we can see it all.
Thank you for this, I read about the Power Down this morning but it's great if that has been reinvested into the apps. How awesome that a platform is so transparent by design (even without that corporate 'statement').
'Curiouser and curiouser' said Alice...
Very interesting news @preparedwombat I’ll be watching how this unfolds with great curiosity.
I don't think they should have that much voting power anyway. So I take it as a good thing, even if they are cashing out. Also most of you here are trying to make bucks. No social platform should be all about money. We are also here to communicate!!!