Founder @dantheman sells 1% of stake, price crashes more than 10%

in #steemit9 years ago

Not that big a deal, I remember when Vitalik Buterin did this with ethereum, I just wish they would give the market some warning or do it regularly.

Like 'I will sell 500 STEEM everyday in the month of August'. Unrealistic?

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How is @dan supposed to finance development, if not by selling Steem?
This is what he said three days ago:

Devs are paying to hire a bigger team and bring more features. That is different than cashing out. We are still investing heavily.

I was not saying there is anything wrong with it, but I did suggest a way to cash out regularly

If they gave the market a warning the drop would be even bigger, because it would drop in anticipation and then drop on the actual sell.

if it was an announcement of one sell off, I was suggesting a regular one, 100 steem every day or whatever

Its like a fire sale on steem :] The lower the price goes the more people will be willing to buy. And honestly this is a great redistribution of steem IMO. I wish more whales would do the same.

I agree I wish i had funds on polo or bittrex, will remedy that in future

I upvoted You

It looks like he did not power down. That would be more worrisome. If he does power down does that mean everyone else wig steem power get get more per day ( fixed steem power issued) or the inflation would be less( fixed return on steem power). Just curious.

You could only hope that this happens... Hopefully steem rebounds substantially

This is the time to buy. People panic like crazy for no reason. Founders sell their stakes all the time. You see, they need to earn too.

Nothing to look at here. But Steem as they are cheap, before they rise back up again.

Apart from that, move along, nothing to see here. .

nice FUD lmao

how? I said it wasn't so bad, I just reported the news

I just wish they would give the market some warning or do it regularly.

So that the market will go down expecting the incoming sell? Does not make much sense to me. If market goes down before the sell, Dan will have to sell even more to reach the same outcome.

even if he sold 100 STEEM every day? or 500 or whatever, the market would adapt