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RE: My proposal: reduce the withdraw channel from 104 weeks to 104 days or even 104 hours to make steemit less like a ponzi scheme

in #steemit9 years ago (edited)

If you think the problem is that the platform isn't out of "beta" yet, the devs better step up their game and get out of "beta" faster, because the clock is running.

Yep. I agree with you there. I'm wondering what has been taking so long just to implement basic profile features. This place needs a lot of development. I've been saying that all along too.

Perhaps your gripe is that the 104 week unvest period is too fast.

No. If anything, I think it's probably too long.

I could just as easily say that that the problem is that you @ats-david, are not buying enough.

As long as the price is plummeting and all of the large stakeholders are selling, I have no reason to buy more than what I already have. I have no confidence in the site right now, even though I'm sticking with it. I'll do my part on the posting and curating side. But you can't expect new investment while current investors are bailing before the development is ready. I don't see how that's out of line for me to say.

...you have no standing or say over what someone does with it. Your opinion about whether it is "too soon" or not is completely irrelevant.

I'm not telling anyone what to do. You can do whatever you want. Like I said - I'm simply pointing out that what's being done is contributing heavily to the price action of Steem. And if it continues, all of that powering down and selling will be for naught in a short time. So, you can continue powering down, but if nobody is buying what's available, then the price will continue going lower until it's essentially worthless. Then it won't matter if you're powering down for 104 weeks or not. Steem may be worthless in 5 or 10 weeks.

I don't know why you're taking this as a personal attack. I'm looking at the numbers. User interest is very low. Investor interest is very low. The price of Steem is currently below $0.60 and nothing is stopping it from falling further. Is any of this inaccurate? And how does more Steem being dumped on exchanges increase value or interest in the platform or currency? I'm trying to understand why the selling continues when it's clear that the trend will continue downward. It doesn't benefit anyone, especially those with hundreds of thousands or millions of Steem.

Yes - you can sell off your stake. I'm just pointing out that the platform and the currency are being pummeled because of it. It's not sustainable. How does that benefit you in the long-run?