Dear @ned & Steemit Inc.,

I'm trying to keep patience. I really do. But seeing this?

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Watching your company, Steemit Inc. powering down nearly all of their stake - I don't feel comfortable with it at all. Especially considering that you've already powered down 95% of your own stake and send it to exchanges, with the reasoning to hide it from the public eye.

Now, with your own stake you can do however you please, even though it doesn't show confidence in your own product.

However, seeing Steemit Incs. initially mined stake being powered down ; 34 Million SP to be concise - which would be 2 Million SP per week. That's dangerous.

And a simple "memo" message, telling outside viewers that you're just doing this to send it to secure wallets. There are two options:

1.) The @steemit account isn't secure enough - maybe due to the recent layoffs there were intern problems - I don't know. But even then, @backup-bittrex doesn't even have multi-sig and why is it being vested to exchanges?
2.) It's a blatant lie to keep us ignorant.

I honestly hope it's the first or another good reason.

But trusting some written words is not enough without any official statement. This is not child's play. We're talking about millions of dollars worth of investment for thousands of people.

And 34 Million SP to the market, could very well drop the price immensely.

That's why I'm writing this message - not to attack you, not at all, but for the safety of stakeholders funds.

With that said, as a witness & stakeholder in this blockchain, I'm not able to patiently wait this out. I believe in Steem, but the amount of centralisation and single point of failure is way too high. I'm still hoping (or at least partially believing) that you, @ned, only want the best for Steem and have good reasons for this move - but simply believing it at this point in time is not good enough.

Now, and I'm saying this with good intentions, I expect an official statement about the power-down and how we, as stake/tokenholders, can make sure that this stake isn't just sold off to the exchanges, with the risk of crashing the price.

Thank you,
@therealwolf

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IMPORTANT

This is not a FUD post! There is enough time to clear this up and since power-downs take 13 weeks, there should be enough time for solutions.

This blockchain is decentralised and while it currently has a small centralisation problem, this doesn't mean we're out of options. However, please let me clarify one thing: the first goal should be to find a cooperative method of working together, between the stakeholder/tokenholders & Steemit Inc.

I'm not asuming that Steemit Inc. have bad intentions with this power-down, actually I'm trying to assume nothing, but it simply requires clarification!