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RE: Critical Analysis of Steem and Why I'm Invested
It was for this exact reason that intelligent individuals steered well clear of steemit and rightfully talked mad shit on it in places like bitcointalk, and considering how much dumping went on at the very start and how there hasn't been a steem boom cycle independent of other factors that buoyed other coins and led to steem/sbd being convenient pump and dump tools on upbit they were mostly not wrong. Good investors question projects that have dev shares much, much less than what steem had, and it has hurt the project and its investment potential from the very start.
Yes, and instead of acknowledging and attempting to fix these investor concerns and criticisms, STINC simply announced that they would go forward with their “multi-year divestment plan” - A.K.A., “long-term dump.”
Not only are they doing that, but they have also delegated large amounts of stake to their favored people and projects from this ninja-mined sum, which further dilutes investors’ stake-weight on the platform.
So would-be investors are taking on more risk (from planned multi-year dumping of a large percentage stakeholder) and getting less reward (in the form of lower returns when putting their stake to use). And we wonder why STEEM can’t sustain any price rises and the platform doesn’t attract many people other than poor, talentless bums and scammers.
But despite all of that, Dan actually created a phenomenal blockchain that can possibly survive the ninja-mine and the continued incompetence of his former colleagues. Possibly.
Amen to that rant!
LOL
You know, I feel like a poor, talentless bum.
At least I'm not a scammer ;)