You are viewing a single comment's thread from:

RE: On NVC, Whale Bashing, Expectations, and Quitting Your Job

in #vlog8 years ago

Okay, I'll respond, though you probably won't agree with my perspective.

via Google:

It's not just physical in terms of "something." It can also be "strength of emotion or an unpleasant or destructive natural force."

This is an greedy act that is HURTING people.

That's a judgement about their motives and intentions. I believe in buyer beware. No coercion was used in any way. People bought freely and the intentions of the founders (for those who did the research) was public. They intend to sell STEEM and a lot of it. That will drive the price down for quite some time while they do that. That, IMO, is a very good thing for the long term value of STEEM and the entire platform. If they don't do that, the value of all of this would go to zero because not enough people would own STEEM to make it useful. Would that then be "stealing"?

Something is being stolen

That, to me, is kind of absurd. No force was used. If you invest in something and the investment fails, did someone steal something from you? There's no way investors can keep everyone happy. Some are in for short term gains, others for long term. Buyer beware is the only mechanism I know of which is fair for everyone. If the price of STEEM goes to $10 next year, would it still be "stealing"? You seem to be thinking in terms of a subject timescale which, to me, is completely arbitrary.

So when people screw with other people like that

That's a judgement, much like I described in my video. You're making claims about their intention to do harm to others. What if they are helping even more people by distributing STEEM and lowering the price so more investors who want in can get in?

Man up and stop bending over for these assholes.

That language is caustic. I'm not bending over for anyone and if you do feel they are "assholes" you should probably go use a different social media platform where you are more inline with the philosophy of those influencing it.

You know damn well what they're doing is wrong.

Now you're making claims about what I know. From my perspective, selling STEEM to distribute it to more people is a healthy thing that has to happen. Could they do it without smashing the price? I don't know. I don't know what their plans are for how quickly they plan to distribute STEEM. I've always talked about Steemit.com being a cryptocurrency funnel for distributing STEEM. I think it's a brilliant system.

What I do think is wrong is people investing money they aren't willing to lose into a highly volatile, speculative beta cryptocurrency system and then getting angry at those who created it when their arbitrary expectations aren't met.

Sort:  

Thanks for the reply Luke. Based on what you said and your tone in the first few minutes of the video, my impression was that you invested some money and you're getting nervous about the prospects of diminishing value. If thats the case, I understand completely. My opinion of the developers is mixed. I admire them for what they have created but I do think the system is flawed. I also think that they know it. Maybe their actions are well intentioned, maybe not. Im starting to think not. Ergo my name calling. Im not one for ad hominem attacks but I have no problem saying it if its true. Im not 100% on this so it was wrong to use such strong terms. I see a domino effect here that is irreversible. The reason i said "you know damn well" is because of you're very astute assessment coupled with what i perceived as nervousness in the beginning. Im having a hard time seeing how their actions help the situation. I apologize for being so belligerent. I allowed my emotions to take over my reason and empathy. Having said that, I remain deeply concerned for people who have invested heavily. Perhaps thats not my burden to bear but I will speak out if i see something going wrong that they dont. Again, great video man. I am leaving steemit but I will subscribe on youtube and keep an eye on your work.

I remain deeply concerned for people who have invested heavily

That's understandable, but as you said, that's their burden to carry, not yours or mine. I did invest some money and did so with full understanding it might go to zero. If you scroll back a ways on my blog, you'll see I did a post on how (at the time) Ned could be cashing out $700k a week. That seemed pretty crazy to me. The price of STEEM has since adjusted accordingly and come back to reality a bit. Where it goes from here, who knows, but I've talked to people who have invested larger sums than me at higher prices and still aren't concerned because they are thinking long term.

I will speak out if i see something going wrong that they dont

Or maybe you just perceive something wrong? Our perceptions can be powerful, especially combined with emotions and fears which can distort our reason and logic.

Thank you for your apology and for the kind words about the video. I wish you well, wherever you call home on the Internet or IRL.

You too.