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RE: Capitulation and Opportunity
I've been hoping for lower and lower prices to help redistribute the wealth on the platform but now I wonder if lower steem prices will damage steemit inc's ability to hold it together. If people sell tokens and the bear market goes where I want it to can steemit survive or will it cease operation in your opinion. I don't want to route against myself lol
steemit inc is not the only one operating a public node, so even if they were to disappear, we would still be here. Now, that being said.. this is very unlikely to happen.
Before your time on steem, the token went down to 7 cents and very and i do mean very slowly creeped back up. I don't think we are headed to that valuation, I really don't.
Also to put this in perspective for you. if BTC was 10k at the moment, as many of us thought it would be around this time, Steem would be 85 cents or so, even if it did not "recover" at all in satoshis. Needless to say, if bitcoin rallies, all other coins do too.
well, it seems like Ned is saying they have money problems so I'm wondering how the bear market has effected it and will lower prices make it worse. I'm also wondering how many people were laid off.
I don't have any specifics to be honest, meaning number wise. But, what's important to understand here is that the way Steemit Inc foots the bill is by selling STEEM into the markets. So, if their payroll is fat, they are selling a lot of STEEM. Currently there are more sellers than buyers, hence the current price and it requires more tokens to pay the payroll.
Steemit Inc still has a lot of Steem... millions and millions, they are not illiquid either, they just have to match market demand.
I see now. Thanks so much for spelling it out for me
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