I don't know, seems more likely this is staged as an excuse to power down and exit scam. Ned is already on record as saying.... you know what let me just find it...
Sorry, no -- the company isn't bankrupt. It laid off a large staff who were working on R&D of new assets to avoid bankruptcy over several months. Steem is not Steemit.com nor Steemit, Inc. Steemit, Inc is a private company conducting business without customers, debt or debtors. The Steem community will thrive whether we are here or not. Requests for books simply show that the dichotomies aren't clear enough. So let this be the clarity for anyone who thinks they own a piece of Steemit, Inc. They do not.
...avoid bankruptcy over several months...
Hm yeah, I see no R&D. I see no income. In fact, isn't self-upvoting their only source of income? Which they are now powering down so... bye bye STINC. Good riddance.
The truly mind-blowing thing about all of this is zero communication. Wouldn't you at least lie and tell everyone that everything is fine? STINC thinks they can run around transferring 35 million coins around without so much as a peep after laying off 70%?
Seriously, my only consolation is that ned will never be the CEO of anything ever again. His pervasive incompetence has been recorded on the blockchain for all eternity.
Haha true
How is Steemit inc self-voting?
The communication improvement would go a long way ;)
It's ironic that a platform like steemit that is purely for communication and social networking and sharing of info has been run by witnesses or leaders who do very little of that, or certainly not enough to satisfy the disgruntled members.