Retrospective of Steemit Inc.

And I can understand that. Think about it, they are a company that started only a few years ago, they don't have that great or wide experience on the market. I bet that they are trying their best to make the cryptocurrency survive, as we just have seen a decline in prices lately.

What concerns me the most is the fact that Steem lost position in front of other coins on the market and I think that this is due to the inflation and people selling what they make here.

Now, let's take some time to try to understand what is happening to the Steemit Inc right now. they had a, let's say, soft start on the market, issuing Steem and giving it for free only for the sake of getting some users on board. Then it snowballed and users were getting on board by themselves, without the need of getting some free Steem.

Then the prices started to go up, to really explode. From Steem being traded at 0.07$ to Steem being traded at over 7$ it was a long journey, but also an exciting and ambitious one. Do you imagine how the Steemit Inc perceived this growth in capital? It was huge, barely a couple of companies in this world managed to go from almost no capital, to millions of dollars in just 2 years.

So what do you think they did? They invested, of course!

They hired new developers, they got involved into ambitious projects like SMTs and HF20, Hivemind, and plenty of others, they growth a much bigger company than they ever had. I wouldn't ever criticise them for being so optimistic with the investments they made, because almost everybody was feeling this way. We were charmed by the potential of a growing market, and how cryptocurrencies and blockchain is going to reshape the world. So, for people which are pretty new to the management of a company of this size, in a completely dinamyc market they were supposed to make small mistakes, like not securing some hard cash capital into US dollars to cover their new costs whatever would happen to the prices.

You know what came next

What we weren't prepare of was the market crash that started moths ago. This is impacting miners from PoW coins that are selling their infrastructure (see the price of GPUs also going down) and of course Steemit Inc.

Never invest more than you can afford to lose...

We were always driven by this quote when we investing into cryptocurrencies, but what are you supposed to do when you have an entire company based on virtual money only? It is not cool at all, especially when prices go down and you are already all in, like in a bad poker game.

For all the people trying to criticise Steemit Inc, stop for a second and try to see things from their perspective. If you were them, how would it have turned out for you? Would you have done better than @Ned or @Dan, or anyome else within Steemit Inc? Maybe yes, maybe no, but one certain thing is that you would have made mistakes and people would have criticized you; and it's not nice when that happens!

This is the end of the article that randomly evolved I hope it have succeeded to convince at least a few people to be less critical and be more open minded. To make mistakes and be undecided is okay, especially in times like these. This is one thing that schools failed to teach us.

Enjoy your weekend and I am waiting for your comments!