I don't think Ned cutting down 70% of steem employees we have any impact on the price of steem in my opinion this is only a counter measure to tackle the current price of steem the truth is that steam is currently at 0.35 dollars and as a result of the price it will be difficult to maintain 100% employees that are currently working for steem and ned, we actually don't know if he has any other business ventures which he currently pays his employees out of his shares at steemit.com.
I do not know the amount of this 70% but for ned to only have 30% of his employees left then this is definitely a defining factor for only Ned this is because it may be unable to maintain employees at this current price however I do not think him cutting down the number of his employees will affect steem negatively or positively.
It may be that this money is used to pay his programmers on steemit Inc or other projects, this means that him cutting down his number may affect the progress of his projects for example he wants mentioned last month that he had a project called destiny and if he's currently cutting down on his employees that means that is projects or the progress of his projects may be in jeopardy.
I think the rise of steem or the downfall of steem won't be determined by the ned factor alone as other things are involved or responsible for the price of steem the only think that will be affected is the project of ned himself he definitely has other projects cooking which many people in this platform do not know of and I think this project will be on hold till sees a significant upturn in so the price of steem so this sole decision will only affect the project of ned and definitely will have no impact on the prices at this current rate
Many people are talking about the cut down. It is the trending news on steemit at the moment. Many steemian have their opinion concerning this. Some are against while some are in support. Personally, I see nothing wrong in cutting down the employees.
I want us to realise that every company have their down time and when this happens, there must be a way to manage the situation. Ned manages the blockchain with millions of dollars and the payment for employees isn't peanuts. cutting down the cost to run the blockchain is the safe thing to do at this moment of crypto spontaneous bearish run.
I don't see cutting down of employees affecting the price of steem. the only thing I see is steem survival of this trial period.
Ned mentioned it himself.
He said " in other to make sure that we continue to improve steem, we need to get cost under control to remain economically sustainable. There is nothing that I want more now than to survive, to keep steemit.com operating and keep the mission alive to make greater communities".
Survival is the sole aim of cutting down 70% employees. If there is any other aim to that then it isn't obvious yet.
Well, news like this will definitely have an impact on the steem ecosystem. A lot of posts about this are already flying around the blockchain, I even made one myself. As it's regards its effect on the price of steem I really can't say because it works both. On one hand this can stir up fear in the hearts of many that steem is approaching its doomsday and this, in turn, will lead to many accounts powering down. On the order hand, this decision was made to cut down cost and reduce the amount of steem converted fiat to pay these said workers. So i will say it works both way and I don't think many are willing to part ways with their steem. They might cry and moan but they are going nowhere.
I believe this was an important decision ned had to make for his company steemit. Steem blockchainon the other hand has a lot going on for it and I believe strongly that we are still miles away from the end
Steem is very impacted by the fall of Bitcoin, and soon other crypto projects whose funding comes directly from the blockchain, will also be made to take serious decisions if they want to face the difficult times ahead.
The company Steem Inc pays its employees by selling Steem to the market and that he and his collaborators did not anticipate such a collapse of bitcoin and crypto markets.
With such a price falling to 30 cents, there is not much left to pay the employees at the beginning of the month once the Steem sold for dollars. This massive dismissal plan is reluctant but remains the only solution to face the difficult coming months for the Steem blockchain.