https://bitcointalk.org/index.php?topic=1558366.0
Some people say that steemit is a con...and that whales are powering down and becoming millionaires while the rest of us are losers. Does this have any truth it?
I would really like to know....
Whales are powering down?
8 years ago by elewarne (67)
$0.00
12 votes
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It MIGHT be currency speculation/manipulation. After all boys will be boys and the only way to tell the boys from the men is the size and price of their toys...and some boys have a LOT of money they can play with.
Some have speculated that whales are powering down to drive the price down so that they can, at a later date BUY a bunchaton of Steem for cheap.
THEN...when the price goes back up they earn lots and lots of money.
Also...in the stock market there's a thing. It's called 'contrarian'. It has to do with being contrary. Doing the opposite of what the group does.
As always...timing is important.
You might look at this, and this
in which it is written that Between September 19th and September 25 there was 3,072,438.36 Steem powered up. A large amount of wealth poured into Steemit/Steem and locked itself in for a 2 year commitment.
I read that as THREE MILLION DOLLARS having been locked up for the next two years, by someone.
In light of that I'd reconsidered the negativity
My two cents...
As for me? I'm happy as a clam I was GIVEN $4 when I signed on. I now have $150. That would be the value of the account. Had I not re-invested by powering it all up I could cash out and pocket one hundred and fifty US dollars. All for just 'playing' on line just like I have been on FaceBook (and other places) for the last fifteen YEARS, for exactly $0.
I see no reason to bitch.
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That is why I am doing it because I have been doing it anyway, blogging for the last 20...
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The rich always get richer and well........ The rest of us just keep the wheels greased. I'm guessing if you want to make $$ you have to be a owner/operator or investor, But if you don't have the little guys posting ect.. then I'm not sure it would work. The $$ goes to the posters with the $$ I see several posts make 25.00 after 8 upvotes and posts make .19 cents after 63 upvotes both having mediocre content. I cant say its a scam because I never paid anything just fun time, but I do think its a game where the majority has a major handicap. Good luck and keep posting
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elewarne, whales are already millionaires.
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OH I see...
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steemit is of course better than facebook etc because it lets you reap some rewards, but still it is a project driven by capitalism, i.e. you can see steemit like a startup in this regard. those who invested early (also their time) might receive bigger rewards than those who come later, but that is how stock markets work also.
i always had some criticisms about steemit. it has some innovations, but among other things, i'm not sure either if this hierarchy of whales vs minnows brings out the best in people in a network that may supposed to be "social" media.
you may check out diaspora* which is completely non-profit, decentralized with pods (interconnected servers) run by volunteers, and has more of an altruistic flair.
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Thank you for the explanation...appreciate it.
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The same people who are saying the Whales are powering down , it's a scam! Are the same people who are saying "The Whales have too much power!"
You can't have it both ways.
Cg
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I was prepared to say something similar but frankly thought OP wasn't worth the time. #scam was enough to steer me away. That said it's healthy for everybody that once this thing is pointed the right direction the whales downsize and the rewards become more disperse. Heck I know of at least one instance of @dantheman selling steem at far below market price which benefitted those lucky enough to have the buy orders in place. Wouldn't be surprised at all to see that kind of thing continue.
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It's nice when they vote...
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ya its ez for you to say, 32,000 in your wallet uhhhh huuuh
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OK. thanks.
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