My idea on Steemit Inc. power downing 34M Steem, it would be much more optimistic sign rather than current FUDs that are spreading.

Probably, @ned is moving Steem to different accounts to hide its activity. As shown by @abh12345 in his post "Shout-out to @gsr-io!" that @ned is probably collaborating with an asset management company to provide liquidity to the market. Or, he could be partnering with @gsr-io to trade with his Steem to make some profit which is not absolutely bad or evil.

Now, what could happen to @steemit's 34M Steem. Most probably, these Steem will be distributed to different accounts to hide its activities. They will be moved to exchanges and then transferred to other accounts. These Steem will be sold as usual similar to other sell by Steemit Inc.

If we speculate further, then we can guess that large portion of these Steem will be transferred to accounts related to @ned's next venture Destiny Inc. or, another asset management fund.

Then why is not STINC making any official statement. It could be that collaboration with an asset management company may not sound well with the traders since it require buy and sells. Moreover, Destiny could be a stealth project, that @ned do not want to expose now.

Or, another company has bought Steem from STINC in the OTC market. They may have major plans for Steem blockchain's development. It also means more decentralization will be triggered. It would be better that STINC has say, less than 20M SP, and few other companies shows up with large stakes. @blocktrades is one such example who has also capable developers to work with Steem blockchain. I would love to see five or more companies develops for Steem blockchain rather than single large STINC with 73M SP.

Moreover, selling continuously in the bear market does not make any sense. Therefore, Steemit Inc. may have decided to trade Steem in smart fashion with the help of asset management company such as @gsr-io. You can already see lots of movements within the @gsr-io account: https://steemit.com/@gsr-io/transfers

The worst case scenario is that @ned and his cohort want an exit with massive sell. Or, they may have already sold Steem to a professional company and now powering down and will transfer. Then they are dumbest bunch of people, Steem blockchain does not need them.

They would have been sold at one of the worst price at Steem. On the other hand, @ned will ruin his own career for life. He could have been a billionaire or top celebrity in Crypto-sphere. Despite that, he will ruin his reputation and also, his fortune.

However, Steem blockchain will survive. Another DAO company will take the place of Steemit Inc. And, they will perform much more better than Steemit Inc. Because, it is lucrative opportunity for anybody who is interested. With $10M capital, a person or group can take control of one of the largest and most popular blockchain in the world. I wish I could have that much capital right now at my hand.

I personally don't believe @ned is such a naive person. He is probably arrogant and rigid person, definitely, a bad communicator. He is young and probably learning his lessons. I best guess is that he is making some smart moves to outfox some FUDers. Hiding STINC's or Destiny's SP from the people will make Steem stronger but not providing chance to speculators. Also, leaving 34M SP unutilized also is not good use of resources.

If FUDers can spread negative news based on rumor, then why not speculate positive outcomes. After all both are guesses, and I want to make rational guesses based on reasons rather than fears. It will help me to calm rather than whining out. From my experience, Charles Lee, founder of LTC, made lots of controversial moves such as selling his all LTC, still LTC is 8th most top cryptocurrency. If @ned and STINC sells its stash, Steem will survive and flourish. Finally, I believe @ned is intelligent enough not to ruin his future but rather build it by taking more risks and actions (e.g. gsr-io, Destiny Inc, Oracol, SMT, Hivemind etc.).

Disclaimer: This opinion is not a financial advice, it my personal perspective and opinion. Please seek professionals for financial decisions.

Image sources: Most images are open sourced (e.g. Pixabay, Wikimedia etc.) with Creative common license. Some images are used with due courtesy to respected owners.

Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger