I remember when I first got to Steem. I was (and still am largely) skeptical of crypto. But Bitcoin had recently hit 20k and was beginning its descent and I was curious enough how something as worthless as Bitcoin could have folks paying so much.
It didn't take me long as I poked around Steem before I started seeing it.
There was a young man from Africa whose post put it all into perspective. He was showing pictures of his new shoes, and eatign at a restaurant with his friends. He was thanking Steem, as before his life was one where one didn't own new shoes or eat in a restaurant. His story humbled me as I realized this rare opportunity I had stumbled on to help others get their shoes and meals.
I was blessed to be part of one group who helped many less fortunate, ones targeted by a corrupt law system and who struggled to buy food and basic necessities.
Underneath all of the games and masks that take place in these systems there is an underlying realness that forms real bonds and the lightening of loads on some shoulders just not possible for many elsewhere. Struggles and heartache that for many seems no one cares, no one is coming to help, and yet here of all places we see that some do.
I can ramble on this a lot as you can tell. Even if and when this shit all folds, very possibly before it would make any personal financial difference for myself, there is much to be said of being able to look at our brothers and sisters toiling away just to tread water and make that shit lighter, even if just for a day or a few years. Regardless of how this unfolds, I've been blessed and have seen many others blessed. Heroes such as Mr. Cornell, Canadian-Cocanut and so many others of lesser means that together are able to make miraculous things manifest.
This is why I have always enjoyed following you from day one
Thank you. :)
I appreciate often how your mind works.
I agree! 💯
I want to back up a second and clarify that when I mentioned that people take this shit too seriously, I was referring to those who are so adamant about believing their false assertions and fantasies concerning the roles they play. I'm also a serious person who enjoys relevant humor.
That said, I wanted to ask for your help with something. In trying to boil down what's happening, and more importantly, what the real problem is for those who care about Blurt, I have deduced that Double-U simply wants revenge, the other actors simply don't like Megadrive and the remaining clueless mob just followed the pied piper. So the real problem remains The Weaponization of the Power Down.
That is the title of one of my upcoming smartcasts. I like to come up with titles for my shows, and then reflect or do research. But I don't know a lot about this concept because I haven't been here as long as you, nor have the vast insights into Blurt that you have. If you feel inspired, could you help me put some meat on this concept in one of your future posts? Thank you! 🙏
The power down by itself is harmless and indirectly benefits the other stake slightly.
It's the manipulation of the markets that is causing the issue. One can literally wash trade a few hundred to a thousand dollars worth of Blurt and manipulate the price up or down and only incur the fees for the trading.
Or just dump a shit ton of it eating into the buy orders to push the price way down, then wait for the desperate hands to race to the bottom in their need for quick liquidation and scoop those up cheap and make up the difference there to possibly a profit.
This can also work in reverse, buying the sell orders eating up the list driving the value (at least in appearance) higher.
When you see our daily volume is usually a few hundred to one thousand dollars a day it is quickly understood how easily price manipulations become. The one day shortly after this current drama started and the price was falling fast, I noted that on that particular day we had over 3000 dollars in volume, 3x the normal high we had been seeing in velocity.
Thank you for those insights. You gave me a different perspective which I will reflect on as I prepare for my smartcast. 🙏