Bitcoin Forum

https://steemit.com/steemit/@leavemealone/ned-and-dantheman-dump-50-500-steem-on-market-today-wtf-is-going-on


the ponzi is looking more likely by the day



RIP steem power holders

OMG, $50k out of a $100+ million market cap. The sky is falling.

Do you mean those 124 BTC support rofl..

Well I tried many moons ago to convince people in these forums that market caps are illusions (especially when you print a huge money supply that can't be traded as in Steemit's case), and that the liquidity and float are more important. Professional investors know this.

There was a statement by someone that it is good if the founders powered down and got rid of their coins. It will mean that they will have less influence in the platform. Then there is the statement from the other side that says that they are selling because the founders want to exit from the platform making millions of dollars.

I do not know who to believe. Also looking at the falling price it would be good to avoid buying Steem if you are an investor. I speculate this will continue for a long time.

How about the stance that the sneaky mine doomed the project from the beginning in a no-win choice.

Steem is done for. If you are honestly expect something positive of this project after that pyramid revelations hit public then you are more naive than Donald Duck.
It is still beyond me how this coin still maintain its 6th market cap position. Steem speculators must be really persistent and focused on profits by all means.

What they did is the exact same thing as issuing an IPO, just with a loophole to avoid legal issues of IPOs.  Due to this fact, you either have to place all IPO people in the category of scammers, or none of them.  It's kind of a binary option here.  An IPO is basically a pyramid scheme by definition, though lol.

That is true. The situation in the cryptosphere now is comparable to the situation of the internet boom at the end of the 1990's. I was only a 12 year old kid back then but you would see in the news that many young people have become millionaires because their company did an IPO. Years later we all find out that most of those companies have no earnings and cash flow. They were all based only on ideas and hope just like the cryptosphere.