Fuck there are a lot of moaners on this post. Also a fuck tonne who still can't get it past their thick skulls that STEEM doesn't live or die by steemit. In any case, fair play @geekpowered for a little common sense and for not defaulting to FUD bitching. There is enough of that in the mainstream media.
I'd agree, in all logic if Ned is in a position where a falling STEEM value is putting financial pressure on then powering down and putting it into oh i dunno say a stable coin makes sense. If prices go back up well then whoop de do, he may lose some personal wealth, but then steemit starts to support itself once more. If the STEEM value continues to drop at least he has a pool of reserves to keep the core team going.
Could be another negative reality going on. But really people, FFS how narrow are your crypto holdings that this actually concerns you. If STEEM goes to zero and it impacts on more than 10% of your bottom line investments then well need I say more.