indeed there is 1200 liquid STEEM going to a single person, every hour, every day. It is to the point where it becomes a steem-wide risk factor. That is why I keep harping on this, in spite of the negative consequences I suffer.
abit needs SBD, STEEM, Steem Power, BTC, USD, gold, etc. We must subsidize all of his needs
And what closes the loop? Only the owner of the Steemit-Market who takes deposits in BTC, sell STEEM at $3.80... then buys STEEM back at $3.00. So this is by design so owner can charge a 30% exchange fee to n00bs.
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And this is why I decided to pull all my money out of STEEM. I have no intention of volunteering to subsidize someone elses profits. Market making brings it's own rewards, but not here.
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before you give up, realize that the devs are aware of this problem and will be fixing it: https://steemit.com/steem/@jl777/steemit-has-the-most-responsive-dev-team
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