RE: @ned Denies Request For Financial Transparency
Normally I would say that private companies have every right to keep their financial information to themselves but we are in a unique possesion because of Steemit inc's huge stake. If they sell all or most of their steem, the price is crushed. If they remove delegation from the apps they are suppprting many of them may not survive. They can be replaced as developers but it could take awhile before they can be completely replaced.
If Steemit Inc are considering leaving they should at least make it gradual rather than unexpected or simply sell their company to someone else who is willing and able to fill the role. Considering the extent of influence Steemit Inc has, they need to be as transparent as possible as their actions directly affect other Steem investors.
Yeah, those were my first thoughts when I read the discussion. Now, I do think Steemit deserves a little bit of slack, they have not shown any indication that they would handle selling off their stake irresponsibly. Just the fact that it's possible for them to do so, is what worries me.
That's true. I believe they have sold some Steem but no major dumps.
They are in very difficult situation with the price drops. Then again, many of the problems they face now were going to come up at some point. The price drop might be the shakeup they needed to sort out their cost structures as well their revenue streams.
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Exactly. People are worried about Ned dumping his coins, but I think a far more likely scenario is that Steemit.com, along with all its accounts, is sold eventually to some VC. I'm quite certain Ned has been approached at least once by private investors during this bear market.
It probably isn't even possible for Steemit Inc to dump the whole lot as there wouldn't be enough buyers. Price would fall to a few cents and they would have to wait until they get enough bids.
Selling directly to someone or another company is a far more sensible option. Maybe even sell off part of the company which includes a particular amount of Steem. There are a few ways out without crashes the price further.
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That's what I had in mind. There is not enough liquidity on exchanges to absorb all the Steem in those accounts. Makes much more sense to sell in bulk to VCs who want to exposure to Steemit.