What if 27% of the top share holders of Coca-Cola started selling stock/dividends instead of reinvesting it?! You would probably reconsider the future of Coca-Cola, or at least wonder why so many investors started selling off current positions.
I believe Steemit, along with other crypto currencies, are a little different and should be treated as a different asset class. With that being said, I am still curious on why the recent "Powering Down"? Is it because of the potential August 1st fork?
This is something I will continue to watch as an investor on the Steemit platform.
Key: The Piggy Bank Symbol means "PoweringDown"
Top 25 Steemians^
Top 25-50 Steemians^
Top 50-75 Steemians^
SOURCE^Top 75-100 Steemians^
Well Steemit certaintly has much more room for growth than Coca-Cola. I also see don't see 27% of the money flowing out either. Many of these people bought in a lot and maybe are just trying to get their investment back and play with "house money"
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I couldn't agree more.... if I had that much steem I would only play with house money:)
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I bought in with some XEM profits. I trade out my SBD right away but probably wont power down till atleast 1000 and then it would be only for another venture that I might see fit
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We must remember that a power down can be stopped at any time too, many users power down for a bit then stop, it can be a way to diversify your cyber currency holding and spread possible losses too. It is really not wise to hold all your investment in just 1 or even 2 cyber currencies.
I see great benefit in powering up your rewards in Steemiit, but powering down is a way to keep more liquidity, and/or it is a chance to take some out to invest in other cyber currencies without having to invest fiat money.
When you power down you are only able to get at most 1/13 of the total you hold, so there is little chance of disrupting the financial stability of Steemit.
Thank you for your post, it is very informative.
upvote & resteem
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I am trying to hold some SBD just for that reason... Just in case the price spikes, I am able to buy Steempower on the internal market for a discount.
Thanks for the support @manycoolthings....UPVOTED
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Amen! 🙏
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Nice post, at first glance I would agree that this could be a concern. However I do feel I that ultimately it is not too big of a deal. Reason being, the top Steemians and quite honestly making way TOO MUCH money on this platform. Of course they are going to be taking some profits. Steem is still just in "beta" and believe me I am trying to get my Facebook, Instagram, Snapchat, Twitter etc friends to switch over, but what is happening is they sign up, spend some time putting nice well thought out posts out there, and quite honestly get completely ignored. It is very easy to see how many people have even looked at your post. Generally it is between 0 and 2 for your first 10 posts, and you are lucky to get a single "upvote" - so what is happening? They stop logging in and go right back to Facebook, where a photo of your cat gets over 100 likes. It just feels better people, money or not. I personally am going to hang in there as a growing minnow Steemian and continue bumping up my status and increase followers and hopefully corresponding "upvotes" and SP payouts etc - I am not in this entirely for the money, but a small bump here or there does feel good. What we have here is an environment where literally 5% of Steemians are raking in 95% or more of the money - of course they will take some profits!!! Yes sure they mostly have very intelligent useful content they bring with their posts, and very many of them are bringing a lot of their previous YouTube followers over, meaning they are already sort of famous in whatever subject matter they focus on. In my opinion, for Steem to survive in the long run, they need to level out the playing field, at least a little bit, and help welcome and reward new users in some way so they do not immediately lose interest, and bail... never to return. And I think Steem needs to simplify the currency process a bit as well. 99.5 of the population still simply glazes over when the subject of "Crypto Currency" comes up. Nobody gets it yet!!! And you get over here, and there is regular Steem, Steem Power, Steem Dollars, and Savings - what??? And you need to already own some BTC or other crypto to convert over... to which one??? Hmmmm this weeds out 95% of folks right away. The general public just doesn't know WTF to do with this, let's not kid ourselves, it is confusing. So I do believe in the the Steem Platform and truly want to see it succeed, but as for the whales taking profits?? Not surprising at all. @evanrvoss, thank you very much for your great content. I am upvoting you, following you and will resteem this post. I wish you much success and hope to see you someday looking at my minnow postings as well @cryptoted, so we can all collectively grow into a future successful Social Media platform here at Steemit. Peace
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Very well written comment... I couldn't agree with you more and that is why you can donate to the minnow project. It is a great way to help grow the platform....keep Steeming and thank you for reading my post @cryptoted.
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Cool
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I wouldn't be concerned at all. Basically, it's smart. If you're constantly powering down then you'll constantly have access to at least 1/13 of your steem power, which makes it more liquid. That gives you more control and ability to make decisions about the best thing to do with your money at the moment. Which matters when you've got thousands of dollars tied up.
Knowing that you at least of 1/13 liquid every week allows you to have access to your funds and reinvest appropriately. You might cash some out for living expenses, or buy some altcoins because the market has dropped, or simply reinvest it all in steem power.
The point is you'll at least be able to make a decision about it. It's smart money management.
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Reinvesting them back into steem power is one thing...but if they are moving it into bittrex to buy another coin then that isn't good for this platform.....I haven't taken off a single penny from Steemit.
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Yes, I too am not taking a single penny off, but you and I also don't have thousands of dollars involved. That's real money and the fact of the matter is that kind of money should always be diversified.
The system has built in incentives like steem power to encourage growth of the currency and it works wonderfully. You have to remember too though that the whales also want to see the currency maintain it's value.
If you had over a million dollars worth of something, would you be doing anything to make the value of that go down? Probably not. Would you be thinking that it might be smart to diversify that money a bit and use it to help other things grow and maybe make some more roi? Probably. I know I would.
That doesn't mean that I'd think or participate less on this platform though, just means I'd be using common money management sense and keep a portion of my funds liquid to take advantage of any opportunities that may come up.
That's just my take though. It's what makes sense to me. Ultimately though, I believe in the model and technology behind steemit and that's where the value is for me. I'm sound investing in it because it's already adding value in my world and I think that's true for many others and is ultimately why the platform will succeed.
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thank you for the info.. I am a beginner and still I am straggling to collect SP..
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Just keep steeming and bring people on the platform @dinsha.. also make friends. It takes a lot of time though.
Another great post Evan...That does concern me, but a lot of people are selling cryptos.
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tu blog me causo curiosidad sobre el tema, aun no entiendo muchas cosas
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