RE: Steem price will remain low, I am sorry…
Unfortunately, the selling will likely continue for a very long time - and it won't be just one or two whales.
In a further motion of decentralization, the Steemit, Inc. controlled primary account, @steemit, which holds approximately 41% of the platform’s Steem Power, will be gradually divested of its holdings in an effort to increase promotion and development of the platform while dispersing voting power. Scott indicated that this will be done in a “gradual multi-year divestment”.
Fintech Steemit Migrating Servers To Amazon Unveils Ambitious Blockchain Roadmap - January 17, 2017
It'll be hard to get any sustained increase in prices when 41% of the total amount of tokens will be "divested" over multiple years. And it's just getting started. With the next hard fork, which will presumably make account creation easier/faster (and less costly?), there isn't much need for that huge stake to be held.
In my opinion, it should be burned if it's no longer needed for its original purpose, but I know that's not going to happen...sadly.
Hey, thanks for this info, yes burning is a very good way to reduce unnecessary supply of tokens.
Just for some added info...
Things like this are likely to continue. Almost three million STEEM from Steemit, Inc. - then one million immediately transferred out to Bittrex.
https://steemit.com/@tostitos/transfers
The question is, what was the benefit of the work performed, since we have no other info? And why would investors pour money into STEEM when this is likely to occur at any time and can happen many more times at this scale over multiple years?