So lately I have been seeing a lot of panic surrounding the fact that "whales" are powering down. People are saying that it's a Ponzi Scheme because the whales at the top are powering down and taking money out of Steemit so if they don't have faith in Steemit then why should you? This method of thinking in my opinion is WRONG and I'll tell you why.
Imagine you and some friends or colleagues created a social media platform that would change social media as we know it. Just within a few months this platform you have created becomes wildly successful and all of a sudden, this social media giant that is still very young has created you and a handful of people a TON of money. Wouldn't you want to take some money out for your hard work, time and effort? A lot of these whales only need to power down for a couple of weeks and will be set financially for a long time. In my opinion what were are going to see is a lot of the whales power down for a couple of weeks to give themselves some financial rewards for the amazing work they have done, then they will cancel their power downs and continue to invest into Steemit long term. Obviously this is just my opinion and I might be wrong, but I will be continuing to invest in Steemit long term and I suggest you do the same! Keep calm, and Steem on!
-Tim-
Whales powering down also improves what distribution of influence which many are worried about.
And hopefully some cheap steem :)
Exactly it's fine, plus a few have stopped powering down some are still going. They built something amazing and are now taking a slight benefit nothing else. I for one am not to worried, there will come a day when id like to power a bit down as well.
Yea i was going to mention this in my comments that a few of the whales have stopped their power down after their first payout =)
Yes sir :-).
If anyone thinks it's bad to take a share of something that they put so much hard work in to create then those people are just wrong! Long live the whales
Great post love it
(ツ)
I suppose.
But if you have such enormous Steem Power, then it should be an easy matter to gain more Steem Dollars just by upvoting your own posts. You would have zero incentive to power down, for a quick cash crab, when you can mint infinite funds with the Steem Power you have.
Good thinking!
The whales have earned it, but I agree it will spread the wealth around. Its a good thing long term.
Non argument!
If they wanted remuneration they should've set it up as a centralized platform on a relational database!
No need for a bloody blockchain!
But instead they're using the Satoshi conception, where there is owner, to manipulate people into seeing this as an open decentralized system!
I made a post touching on the fact that the Whales are Powering down. Check it out. https://steemit.com/steem/@brianphobos/it-is-good-when-the-steemit-whales-power-down-the-reasons-why-explained