ย Earlier Today, I decided to go "Steem Whales" to check out my weekly ratings for @Stackin to see where I was currently ranked in the Steemit Community. ๐ฌ
To my surprise, I seen Dollar Vigilante (Jeff Berwick), next to my name in one of the categories... and thought to myself, this must be a mistake. ๐ณ
You see, I'm a HUGE FAN and Followed Jeff for years and always loved all the content he puts out there... So I went to his stats and something really surprised me! ๐ง
Jeff Powered down all his STEEM since March 12th from $120,000 toย only $2400+ today (I had more steem power then one top followed guys on Steemit?..... WHAT!)ย
You Can Check out the Stats and Charts Here: ๐๐
Does Jeff know something I don't know? Why would he completely power down for the last couple of months even though he is making $1,000+ a day on both of his channels? ๐ค
I am completely lost, Many of us are currently buying and reinvesting back into STEEMIT but one of top guys who's making thousands a day... is selling it. ๐
Don't get me wrong, I know Jeff can do whatever he wants, It's his money! He is a great influencer on youtube and did a great job getting the steemit name out to the public but this just baffles me.ย ๐๐ผ
I don't want to go around and start speculating but does anyone know the reason why he powered down and sold off all his Steem power? What do you guys think?ย
Charles Fuchs
Don't Forget To Upvote, Comment, and Resteem ๐ฏ
Follow Yo Boy Here @STACKIN (1875+ "STACKERS" Strong) ๐จ๐ผโ๐ป
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I am not surprised. Bitcoins clogged up memory pool is being used for inside trading. He and the big boys know whats coming up round the corner -these guys know bitcoin (and consequently most crypto) will soon plummet hard - so they plan to cash out early in two or three doses. Like today, they take the first pie cash out, wait for the fish to buy in, cash-out again and again. at the end when everybody tries to panic sell, it will be mayhem, people will be trying to desperately sell coins that have already dropped 2-10x in value, but these insiders will gladly buy in with their pre-cashed funds at the cheapest prices and ultimately maintain control over the currencies. My advice to anyone is to hold or HODL (Hold+Hord) to teach any manipulator a lesson. Between now and the eminent crash, repeat these words before going to bed: "We will HODL, in the block-chain we trust, this is is crypto not your BS stock portfolios"
Waiting for a correction and today was a great indicator it's on for the whole summer... no. Office, discount prices in the future is awesome ๐
It looks like @dollarvigilante might be coming back to @steemit and may even buy Steem Power again ๐
Why not ask him? Honestly steem isn't going to appeal to everyone, and maybe he's just taking a break. Isn't that kinda like asking the question why is someone on Instagram and not Facebook?
Yeah, makes sense... I was just wondering while sippin on some ๐ฅ Earlier. Was just thinking does he know something I dont know about steem, just all speculation ๐ฌ๐
It looks like it was more than speculation ๐๐ผ
Yeah thats weird. I came across his profile yesterday checking one of his videos, when I decided to peak at his wallet for the 1st time. It did seem odd to me how little was in it. It didnt occur to me that he had powered down because of how huge of a STEEMIT advocate he is.
Odd very odd indeed?
You know what, best answer out of all these! Highly suspect, people can power down but all the way to Minnow status... hmmm ๐๐
cool brother glad you enjoyed .
Maybe some of our sleuths will come up with some answers.
I do think we are seeing a lot of whale cash outs and this will continue as people start making large amounts of money the thing is the platform is getting thousands of new users a day now and its going to level out as more and more people join the site and the steem gets more spread out, this will jump the price back up and another wave of big earners will come in and then start to cash out and they cycle will continue. The bottom line is steem is not going anywhere, steem will rise and see a 10 dollar mark and 25 dollar mark and more and more... this is all a matter of time....
how long will it take??? who knows but its fun to guess.
hold strong!
I will not power down for the rest of this year.
@soundlegion Bro Im with you. Im also going to try to not cash out for 1 year. I been selling ETH and some other alts to double down on STEEMIT.
@sneakgeekz :D
Good insight, looking forward for the future of steemit ๐๐๐ผ๐ฏ
I am guessing it's about time now ๐
Nah he's just gonna get a ride from those hot ICO auctions that's trending right now. I mean you can't resist those get rich trick schemes on the ether platform.
Maybe after making a killing in those ICOs he'll be back with 4x the steem. ๐
Yeah who knows, but all the way down to $2400, hmm just odd. He makes about that in a daily Videos ๐ฎ
@saithe hahahahaha. . . I'm riding as whale. .. like why not...but of course ..real icos..even people will make money with https://www.shitcoin.io/
I need to buy some shitcoins lol
Racing โฟ to Das๐ฉ+๐=โจ
LMFO_^
This was just 5 hours ago on his Facebook wall... he almost has more money on the table than steem power... Shesshhh LOL
Haha nice find Stackin!
All in ๐
Mahh man Upvoted!
Here you go ๐ฌ
Good catch, followed :)
Oh he stackin alright! ๐ฌ
Lots of whales are powering down due to the fact they don't necessarily need lots of power to earn lots of money anymore, they have a large fan base that upvotes them and now they are just enjoying the money stream in my opinion...
Very good point. Eventually, even your own very large up-votes pale in comparison to the audience you can reach. That creates a nice turnover so that new people are continually able to buy in.
And even if he wants to build his steem power back again, what's the problem? He still get tons of money per post...
Makes a lot of sense. At the end of the day why not take some profits that you worked to build.
Yup.
That makes sense but all the way down to $2400? It just give nothing back to the people who comment and follow his material. It's ok to power down but almost everything? ๐ฑ
Some people get greedy, maybe he has another reason. Who knows? It's just my opinion, I hope I'm right though, otherwise there's a profound reason we don't know about...
@stackin You have to Power down and PowerUp in beliefs of how the Market is flowing. ..plus on top of that..getting more per post..it's a tangled web..but this Spider gonna dig all the Bugs out keep #stackin Broski
That is strategic thinking. They are powering down for a reason. can't really upvote themselves high if they got a low Steem power and voting power, right? For real estate, it's location. For social media, it's reputation. Takes care of itself like that.
Oh, that's very interesting.
He probably just needs the money to buy all that fruit for his juice cleanses. I've done them before and it's not effing cheap!
๐ ๐ ๐ ๐ ๐
That's a good one ... haha fruit life made me sell all my steem lol ๐
@choogirl Love this comment ha :D
Maybe he went broke and needed some liquidity ๐คฃ
I doubt that lol
There are various reason why he might have done it. He might have needed to pay bills or pay off debt. He got paid out a lot on here. He was after the pretty girl era. He is part of what I call the Conspiracy Theorist era.
Speculators are saying summers going to be a slow downtrend trend for crypto in general maby he just sees it as the best opportunity.
You could be dead on. He could be hedging against a downturn and going to buy back in when it bottoms out. He seems to be smart enough to see trends like that ahead of time.
Who knows. Crypto is unpredictable in general.
Not sure he has any debt, he's down the street from me in Vegas playing in the World Series of poker right now ๐ฎ๐
Oh really! That is interesting. There have been a bunch of Steemians in Vegas lately.
Party central ๐๐ผ๐
Go say hi!
If you want to get a better insight into his mind on this, check out this article @dollarvigilante posted about 8 months ago when the price of STEEM was around 30 cents:
Link: The Case for Buying Steem and Steem Power: The Dollar Vigilante Says Steem Is Now a Buy
He also did another one in June 21st all praising it ๐
I think you're talking about this article: "Steem Hard Forks & Now People Are Making Even More Money On The Blockchain Based Social Network Steemit".
I'm not trying to actively defend him here or anything, but it does sound more like he's pushing joining the platform versus buying up STEEM at these levels. Of course, he doesn't seem to make it entirely clear either, so I can see how it could be interpreted that way. In last year's post, he says "the case for buying steem". This post, he writes:
Of course, he could have also posted that he's been powering down as of late because he believes STEEM's gotten "at least a bit" ahead of itself. That's also why I found last year's post possibly of more value. From a self-interest standpoint, I can understand why he wouldn't want to make a "big deal" of it either. He's pretty well known and followed in the crypto space and on STEEMIT, and he's well aware that by saying anything of that nature, it could have prompted a premature sell-off. So, from his perspective, perhaps it was just better to "do what ya gotta do", and keep your mouth shut.
Obviously, I don't know for sure, but that seems as good a "speculation" as any other! lol
That's sucks, if I comment on his videos, he'll pay me pennies on a great comment on his $1000+ post... I'm not hatin thats some savagery ๐๐๐
hmmm its i agree thats not very re-assuring.. but oh well... Company inside guys and gals always give up stock.. that much... no .... but keep the faith Smart on re-upping
That's true, usually I follow what people do and not what they say, if he cashed out, we should of followed the smart money ๐ณ๐๐ฐ
nice post buddy... mabye he actually just wanted to give it a shot at the WSOP this year which would explain cashing out quite some money... although I doubt he would need to do so if heยดs making over 1k a day on here ...
anyways, you raised a good discussion on here and am looking forward to the comments of others on here :)
Just a thought... I can see people taking chips off the table but 99% lol :)
I think he's just trading the price movements (or call it short term "investing) in a different manner than a lot of people currently are.
Nothing to worry about really, but it should probably cool the heads of some hyped up kids out there looking to put all their savings in crypto now that we've already had incredible price gains.
Yeah I seen that also, tons of newbs coming into the market the las70 so days. Watch the prices per hour ๐
I wonder why he did it lol hopefully he sells to me
I'm curious also hmmmm
Nothing to worry about. Jeff just cashed out what he has earned on steemit ;-)
For this influence it is not important for him to own many steem power.
Especially for no-name newbies it can be extremly helpful to held a lot of steem power because they are able to reward followers/ comments well ;-)
Hope that cleared the situation a little bit.
Upvoted :-)
That does make sense, Many were wondering including me... @welovesteemit, always comes back with wisdom :)
I've seen this too. - In all honesty, I don't know any details but I believe he power down due to the fact that he earns $1000+ per day no matter if he has Steem Power or not. - All thanks to his following.
It's funny though, one would think that someone with a huge audience and superb rewards would keep at least SOME of the SP.. To earn even more. Long term.
Thats true @hotmeasap ... also wouldn't he want to give back to his people who comments on his post by upvoting them... doesn't even do that if he does, he gives them pennies. Hmmmmm lol
Everyone would win if he actually saved some of the SP. - I mean, power down all you want but why power down all of it? - Looks weird and feels odd, but I doubt he knows anything we don't know. I guess he's just hungry for the rewards so he'll probably keep powering down every single cent he earns.
That being said, wouldn't it be better if he saved his Steem Power because of who he is? - I mean, he has influence, reputation and credibility. - And I bet he could bring "money to the table", either by investing himself or bring other investors. - But, if he truly believes in Steemit and the currencies... - Wouldn't it look better if he actually saved some of his Steem Power when he promotes Steemit?
Now it looks like this:
Instead of:
And then have a good amount of SP and upvote his audience at least.
I don't know.. I'm nothing near a "dollarvigilante" fan or expert so I can't say too much.. But to me, it looks a bit weird. - Even I, a total "nobody" are working hard to bring more people to Steemit and to encourage and help my readers... - I just assume that people with such influence would do the same.
That being said, he have brought tons of people to Steemit, so he do give something back, in terms of new people. - If I were him, I would have tried to take care of the people I brought here though. - That's a long term investment.
I would guess when you're filling your hiney with coffee enimas, you don't want to use instant coffee, right? Besides, I don't doubt Jeff knows what he's doing...
If he's over at the poker tables in LV, then I suspect maybe he had a hunch, power down, double-down, double or triple your money, then buy back in with 2 or 3 times as much Steem Power as before, just a guess of course, but he's no fool. I saw the price of Steem drop slightly over the past few days, and if there is any kind of downward trend, when you have that much invested, you would want to pull out before you lose too much. If it continues to drop even by 0.10, he can buy back with the winning from the poker table and not only get back what he had, but possibly pull off a HUGE win!
As @inventor16 said, "Why not ask him?" I'm sure with the fact he's been spotted powering down, he'd be happy to indulge his fans, maybe after he busts a move.
Who knows, maybe he was just really missing that silver Viper he used to fly around in at 150mph :), [jeff b silver viper2.png]so everyone else's guess is as good as mine!!(
)
Haha, he won't answer, if I asked him in the comments area, it won't matter he would upvote me for 1 cent while making $1000+ on his posts ... na he doesn't upvote anyone anyways ๐
There, I upvoted you for $0.01 :) lol
I am a happy camper now lol
haahaha
May I ask where this photo came from @lelandbest?
Hes just cashing out to pay bills or take profit... hes all about steem and has brought alot of people to the platform... bet he'll be back up top soon
I guess ... all the way to Minnow status ๐๐๐
It's called investing. That's just the nature of the game. He acquired most of his steems when they were just 30 cents. That's what I would do if I have a lot like him. Acquire low sell high. Wash, rinse and repeat. This is gonna continue to be the nature of their strategies as long as steem is still considered a penny stock. Don't worry, they will continue to accumulate or buy back in when steem goes lower.
Yeah but all the way too $2400. Not a big deal but for all his followers and commenters, he's giving them pennies. I thought it was all about community, anyways who knows. Maybe I can find out.
I like Jeff Berwick and I love everything that he shares about Crypto's
Same here boss ๐
Steem had been picking up good since March, maybe he's cashing out profit and then will re-invest once the prices will take a further dip? Using his steemit account for trading too? That's smart. ๐ค But who knows!
Yeah, just wondering if anyone knows the real facts on why. ๐
Nice! a fellow Vegas Steemian. Sup man?
What's up Vegas, maybe you can go to the rio right now and ask Jeff? ๐๐๐
He's way too liberal for me. This coming from a liberal
@wthomas funny find you here. Whats up dude?
hahah why funny? I roam the interwebs far and wide.
Not funny but cool that Im running into people in different post.
Lurkin haha
I wouldn't be too worried by it. From what I've gathered, Jeff has a lot of irons in the fire so to speak, so he may just need the income for some project or even to just maintain his lifestyle. He may simply just think of this whole platform as a hobby, and as such, a very inexpensive one that pays for itself. If he cashes it all out of course.
And thinking about it just from a good investment strategy, he certainly did buy low and sell high. Some of his early posts were getting over $10k payouts and as the price of Steem fell he continued to get similar levels of Steem even though its price had tanked all the way down to below 10 cents at one point. Now the price is 30x its all time low, which was less than a year ago, so selling now doesn't seem like such a bad idea from that perspective. It's also possible that he thinks we're in a financial mania and he's selling at what he sees as a peak and he wants to buy back in when he anticipates a significant price drop.
Makes sense, now I can call him a Minnow on steem ๐๐๐
He'll be back to whale status in a month, leaving us behind. haha =(
I hope so as people who are commenting on his post is making 0 or any upvotes lol
That's really weird, buddy
Yeah no idea, tons of people not giving answers and just defending him lol
I think he wants to buy back at cheap price a lot more steem power
Makes sense ๐ฌ๐
Hahah,ya buddy
๐ค๐ค๐ค Maybe he owes the piper, and it came time to pay. So he started paying him with Steem. ๐๐๐
Who knows, just wondering who does hmm
The whole market is down because of that August 1st situation with the Bitcoin fork, I think a lot of people anticipating a pull back and took some funds off the table to buy in after that again cheaper
I think its rolling over... pick up tons over the summer :)
Yep, dog days of summer are on the way. Time to load the boat and ride the waves. See you at the top my friend.
๐๐ผ๐๐ผ๐๐ผ๐๐ผ
They collecting that ching ching. We be there soon ๐๐ผ๐๐ผ๐ฏ๐ฏ๐
There is something going on that we are not aware of guys. Recommend too to watch Greg Mannarino video on his uptake.
Greg lives in Vegas too, maybe they went into gold and silver ๐
That's a lot of money indeed! He must have worked really hard for that! Maybe he decided it was time to get him a nice treat, like a house or something.
Let's just hope nothing bad happened to him, and he needed to retreat the money because of that!
Yeah, hmmm who knows.
Looks like a sell-off to enjoy some of that loot/buy back in at lower rates later, to me, but I have absolutely no basis for that besides pure speculation.
Good on him, he hustled hard and WON! I ain't mad atcha!
I guess we can call Jeff a fellow Minnow now ๐๐๐
That's so weird to think about... his videos still come up in the majority of my feed, via some mention and/or resteem, even recently...
Maybe he just saw you coming @charlesfuchs, and decided to quit before he got knocked down like Pacquiao, hehehe ;
He be like who is this Charles Fuchs guy ... I better not respond lol
Definitely not, that guy's got permanent whale status whether he's powered up or not! :)
That is a bit confusing. Something of a bait and switch by @jeffberwick, talk up the platform while selling off Steem. Hmmm???
Yeah, have no idea hmmm ๐ค
He's not the first. I've seen some other talk up about investing $9000 in Steem Power and now you look at their wallets, they are in power down mode already.
Sheshhh! lol
He gave up when it was at $.08 and now that it's at ~ $2, he's back to take advantage of his fan base, .... just speculation.
Love some some drama jk ... it's fun tho to speculate ๐ฌ๐
I have lived in Chile for 4 years. He's been here and left his mark, let's just say.
Maybe, just maybe he want people to see his actions on powering down, to trigger the sell out of steem, and price reduction :-)
A tad bit scary but I'm holding on tight haha
Happy Monday friend!
Bumpy ride ๐๐๐ผ
Probably shifting money around. He doesn't need the SP to make ๐ฐ๐ฐ๐ฐ on steemit
That's cool, I can deal with that... for all the thousands of people commenting on his posts, expect $0 upvotes ๐
Great post, let me know if you get the answer!
Nothing, everyone just speculating ๐
Thanks for the insight @stackin
The whole point of the website is to make money. If you don't cash out at some point, why bother.
Jeff is expected to act in his own self-interest. His money, his rules.
I have no problem with that.
Makes sense, I stated that in the blog
I think this is nothing to worry about.
Our gold and silver community is growing with more key people joining. Check it out and resteem if possible:
https://steemit.com/steemsilvergold/@hgmsilvergold/announcement-steemit-s-gold-and-silver-community-is-growing
I been a silver stackers for almost 2 decades :)
when did you start - you look so young?
Mannn about 1996-1997... IM 40 and I got that young hustle haha
yes you do. stay in touch, I like your energy.
I would say hes going maximizing going short on FANG and long gold based on:
I'm long on that gold and silver also ๐๐ผ
I'll be going 100% Steem Power on most of my blogs. Not to worry what others are doing. Stay focused and keep on bloggin. Full Steem ahead.
Thats how you do it :)
I'm a fan of his too. Love his content. Good to see you on here, Charles!
Thanks Bossman ๐
@jeffberwick We Are SUPPPER HUGE FANS OF YOURS & We Are Curious As To Why You Sold All Of Your Steem Power???? Fill Us In Boss Man. Thank You!!!! :D
This post received a 1.1% upvote from @randowhale thanks to @stackin! For more information, click here!
Good to see that you implimented that so straight @stackin ;-)
haha @lichtblick :)
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Love how you keep track of these thank you for your value! @screenname
Is there a way to buy STEEM directly in USD? I need to check this out. I hate the whole "buy BTC then transfer" process.
This is I can not understand. Not even one small bit. WHY on earth somebody may hate to deal with bitcoins.? What advantages could bring the posibikity to buy " directly in USD" ??? (if such would exist) Just to save 2-3 extra mouse clicks???
Why?
The best part about being me is not having to explain myself to you.
Na. bitcoin :)
Bleh. Maybe I will just write a bunch of articles instead. :)
He probably has to repay people for that scam he started up in Chile
Oh snap lol
Sometimes opportunity knocks. Maybe he had to cash out to buy into something new or finance a new project. Not something I'd be concerned about. If you ask him, ask him to do a video, seems like many people want to know. resteemed and following.
Everything is speculative, he knows something we don't ๐ณ๐
or perhaps an apartment building came up for sale in Mexico and he wanted to buy it.