RE: PUMPING THE COIN OR PUMPING THE COMMUNITY? – HOW TO HANDLE A HYBRID – The Official 13,000th Post From Papa-Pepper
Pumping a coin doesnt simply requires the community's backing. We have to understand that for steem to have moved that big, it wasn't just us.
Markets don't move without pro traders, the smartmoney, the market makers. The ones who dictate when a market is ripe to mark up. Its painstaking process of accumulation and distribution. The recent move was perfectly timed. I started accumulating steem at .00016 for over a month and it went down to as low as .00006, but i never doubted its going to make a move.
Dan's resignation was the final shake out. A move to force the weak hands to transfer their steem to the market movers.
I strongly believe that the more community members hold liquid steem, the more it wont go up. For market movers to prep up a mark up, it has to shakeout most of would be sellers, because these people create a strong resistance during movement. In steemit's case we the community is the resistance.
Understood, but I still think that we have a role to play in what the platform offers, how steemit is perceived, and in its growth.
Yup,I agree, we are definitely part of the process. We create attention to the platform. We create value for the platform.