Yes, and yet everyone is cheerleading when the market cap of the system increases, a market cap based on STEEM

awesome customer service smh

I suspect not since it is a coin which uses mostly a POS mechanism for securing the blockchain.  The rewards in a POS system go to the biggest holders of the coin who keep the coins in a wallet i.e. the owners (founders) and big miners that attacked the POW phase which was almost and instamine (very quick).  So if you have millions of this coin you keep it in a wallet and the network will reward  you 100% of the coins yearly.  This means you double the amount of coins every year or more accurately know as 100% inflation.  With this kind of inflation you can dump 100% of the coins (theoretically) and still have the same amount of coins at the end of the year to dump them again. 

i got my password back 

you dont know what happened please shut the fuck up

https://steemit.com/steemit/@magnebit/steem-price-is-being-pushed-down-by-1-person-speculation-on-why-and-where-it-may-end-up



The market is being pushed down by the user @steemit. I don't think so.




All orders are placed at or above price on coin market cap. These orders are helping to maintain the steem dollar peg.

Proceeds of these sales are kept as steem dollars which keeps value in the platform while helping to distribute steem.

By @dantheman


That move is expected and In my opinion desired for the following reasons:

*It helps even redistribute Steem Power
*Keeps the price relatively low or what I'd consider normal for new users to buy in and invest

We are still in beta and everyone knows that the power holders(aka "whales) are few and hold most of the steem, if they "hold" on it, they will continue to be the most powerful ones in the platform so powering down is very nice of them as they are "giving up" on their influence to leave space for others to take the spot, making the system more fair.

By @minion


I prefer to think this action is part of a plan to better re-distribute Steem to a wider user base.

Suppressing the price is by far the most effective way to better re-distribute Steem. No-one will consider investing to become a whale if it costs them half a million dollars. Now if it costs them ten times cheaper, that's a more reasonable deal.

by @recursive

I read some very good quality postings over there. Any signs it could revolutionized the internet?