Steemit was not pre-sold, like other ICO's. The developers own most of the coins, and rightfully so. If they choose to dump it, its up to them.
RE: STEEM Analysis :: Ownership Distribution and the Whale Selling Pressure
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STEEM Analysis :: Ownership Distribution and the Whale Selling Pressure
And the opportunity cost of simply dumping all of their liquid tokens would mean that they would likely mortally wound the ecosystem. @dantheman and @ned appear to be captains that would go down with the ship, not jump at the first sign of danger.
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