Whitepaper read on STEEM when is the reverse split coming?
The reverse split from Steemit Whitepapers (page 39)
"In order to compensate for the ever increasing precision, the STEEM network performs a 10:1 “reverse split” every 32,000,000 blocks (about 3 years). At this point in time all balances of STEEM are divided by 10 and all prices are multiplied by 10. Cryptocurrency exchanges will have to suspend trading around this time and update the account balances and price history to reflect the “reverse split” before resuming trading."
https://steemit.com/money/@acassity/steem-10-1-reverse-split-every-3-1-3-years
https://steemit.com/steem/@freedomcoin/10-1-reverse-split-for-steem
What is a 'Reverse Stock Split'
A reverse stock split is a corporate action in which a company reduces the total number of its outstanding shares. A reverse stock split involves the company dividing its current shares by a number such as 5 or 10, which would then be called a 1-for-5 or 1-for-10 split, respectively.
A reverse stock split is also known as a stock consolidation or share rollback.
Read more: Reverse Stock Split https://www.investopedia.com/terms/r/reversesplit.asp#ixzz5HrruxA23
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So I guess when the time arrives take your STEEM/STEEM POWER and divide it by 10?
There are so many questions and so few answers on when this will happen. Anyone in the crypto-sphere get any answers? Please post it!
Alas, I haven't a clue. And I'm not quite sure I understand the logic, either.
Assuming that the purpose of Steem is to be attractive to investors, and that investors are largely driven by the various apps/front ends... which assumes increasing mass adoption... making fewer coins to divide among an ever-growing user base doesn't really compute, for me.
In conventional investing, reverse splits generally have negative meanings... stocks become "too diluted" and are in risk of being de-listed by major stock exchanges. But with a growing user base for Steem, that seems unlikely to become the case... unless I am missing something.
Thank you for your continued support of SteemSilverGold
It is good to stop to analyze this, I wait that the logic not of since proved the division ... equal we are going to see that it happens
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