Making coin and cashing out does some stuff though; it makes steem available, cheap, for those with longer time horizons; and it makes the whole thing 'real'.
If a guy posts some great stuff, cashes out, waves that money around, and tells his friends, that drives adoption. (It's not just pretend internet money, you can actually buy stuff with it)
Six months later, when the money's gone and the price has doubled; him posting how he wishes he'd powered up instead, is going to convince those same friends to look at the long term.
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This is true but for the whales cashing out? those in the 70 reps with 1000 dollar account values? I am not against cashing out, I have done it too (and brought back in) and will continue to do so. There are so many people cashing out completely though and continually.
I am hoping that it will all work out in the end though and I will be able to take some and breathe a little easier. For me at the moment though, now is not that time unless I am showing too much rib cage. There is too much potential in the next year or two to cash out completely. It is not guaranteed but it is definitely there for the taking.
If whales weren't selling, the power would forever stay in a small group of hands, which causes it's own problems.
Yes, this is also true. There must be a balance point somewhere. Perhaps by spreading the wealth continually further.
I'm with Matt on this one. Plus it's not like they're dumping a heap of steem onto the market in one go. The price has been relatively stable (for crypto) for a while.