The problem here is that you essentially imply that STEEM is doomed b/c this can happen; however, this same scheme could be done in so many other markets. What I've seen is that if they were to buy up all the STEEM (or fill-in-the-blank) then there would be none available for anyone else to buy and/or it would be too expensive to sell. Besides, the fact is that probably 75% of STEEM owners won't specifically sell their STEEM (I know it's a grand exaggeration, but if anyone caught wind of such a buy-up then more would HOLD). That's my 2-cents-worth at least.
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They'd sell like a mofo if price went to $7, I'd wager.
And whoever bought at that price would lose when the markets correct.
I think that’s accurate.
That's the nature of markets, yes. People buy, people sell.
Thank you @dbzfan4awhile. Yes, the scheme mentioned in our example happens in every big market. Which is why we wanted to know more fully how steem is prepared to protect itself from these larger market influencers.
We see that our enterance hook on this paragraph was.... overwhelmingly strong to the point of creating emotion dissonance. We have retracted our earlier introduction statement to be more neutral. Clearly, the steem community and economy has a lot going for it.
It was really nice to see a lot of information here otherwise unavailable to us. In some time we will release an addition to our steem academy that includes the best information from this thread and other threads.
It also helps when you have great visibility in the community.