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RE: @ned & @dantheman DUMP 50,500 STEEM on Market today! WTF is going on?!
I was never aware of this before. This is interesting information which can change my views. I always thought developers are cashing out to pay for living expenses and development costs?
The "ninjamine" along with the allocation and planned uses of the proceeds was described and disclosed in the original bitcointalk thread as well as here: https://steem.io/roadmap/launch-and-sale/
The 'steemit' account has already sold hundreds of thousands of dollars worth of coins, at least, presumably to cover business expenses, most apparently via privately-arranged deals with blocktrades acting as a broker rather than directly on public exchange markets, but likely some of the latter too. There is absolutely nothing wrong with having done so; it is in accordance with the stated plans.