If you haven't seen it please go check out the latest blog by @elipowell (Elizabeth Powell) about the financial situation at Steemit Inc. HERE.
Elizabeth Powell is the Managing Director of Steemit.
I remember 6 months ago when the news broke of the layoffs at Steemit Inc. how crushed I was about it and it was probably the only time in my 3 years here that I was less bullish on Steem that normally.
Man, how things can turn around!
Check out this chart she shared with us.
Fantastic!
There is revenue coming in and the biggest costs (infrastructure of the blockchain) has come down a lot!
I had a business for 10 years, and revenue streams are great and in this case especially when they come from outside of Steem! I hope they will find more!
There is even talk now about reducing or even stopping the programmatic selling of STEEM in the future.
When that happens my every two weeks Powerup statistic posts here are going to look a whole lot better!
I can't wait for that to happen!
Things are starting to look up!
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Yeah read the post of elipowell and find really good steem Inc is making a profit from their things. Congratulation to the developer's. ☺️👍
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Tbh the fact that steemit inc was selling their STEEM didn't bother me much, yes they were suppressing the market, but all that STEEM would, sooner or later get bought up by new users which would decentralize the SP throughout more users... just my opinion.
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Yeah, it's totally that. They have to be makers of the market to have liquidity of steem in exchanges.
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I would call that chart a bull cross for Steem Inc... let's hope steem as a token can breakout.
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Thanks for the update @exyle. Definitely impressed with @elipowell's performance so far. Let's go!
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Me too! She doing a great job.
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I leaped for joy over this update @exyle . Thanks for sharing with us.
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I was happy about it too!
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Can't wait seeing steemit.inc being sustainable without the need to sell steem anymore, at least not as much...
The selling pressure is strong at this point
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That would be awesome if they are able to start investing back into the platform a little more. I know some of the delegations that they had out there were really helpful to smaller accounts that were looking to grow. It was pretty devastating when those were pulled. They are already doing some great things behind the scenes but it would be cool to see something more upfront to boost confidence in the platform as a whole.
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I am glad to see it being turned around, but it's kinda shameful they found themselves in that mess to begin with. Fortunately, in my case, I bought most of my Steem after they made that sad announcement and the prices crashed.
There is a lot of good news with Steem right now and the current downward price trend is just weak hands selling.
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Definitely great progress and we can also see how the headcount was not sustainable and they are still a long way to revamping the team which also tells me the importance of what the community is doing with projects like Steem Engine and others.
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If they do that then the price would go up like a rocket yes? Hmmzz I can't buy more right now I bought like 670 steem. I could buy more but with the 4weeks home and now like 3-4 days workweek it's not really an option. Its good news.
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There is still some more sell pressure from other big accounts. I'm patiently waiting and adding a little bit when I can. But remember, this is all still risky.
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Yes I know 🙈 but if you don't shoot you never win.
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Thanks for the heads up. I'll go read her post. Nice to see this place being run like an actual business endeavor at last, with a business model that isn't designed for bankruptcy.
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Thank you for sharing the good news!
You excellent effort makes lots of people very happy!
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Haha, I do try :)
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Let's hope they start selling less and less steem now.
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I love to see important lines crossing... this is great news for future sustainability!
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That chart looks very fantastic. It gives hope for a better future. Cheers.
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Thank you so much for participating in the Partiko Delegation Plan Round 1! We really appreciate your support! As part of the delegation benefits, we just gave you a 3.00% upvote! Together, let’s change the world!
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We can hope to see the price moving up!
That is a plus.
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Hi, @exyle!
You just got a 15.9% upvote from SteemPlus!
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If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
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Great news! Getting rid of that 800,000 monthly steem paywall would be absolutely brilliant for us. Better stock up while it's still cheap...
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In the other hand after hf21 little stake holders would get their rewards slashed 1/3. While their curation efforts will not yield to cover for the loss.
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They have work tremendously hard and with efficiency too great results so far
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