Your recollection of what triggered the initial dump to 10 cents is not accurate. It wasn't "some stakeholders" that decided to dump a few weeks after the airdrop. The crash happened when Upbit distributed their portion of the airdrop to the traders on that exchange. I wouldn't consider people who live by speculating on exchanges as stakeholders (in the strict sense of the word).
Semantics aside, your point that having funds locked is beneficial to speculators in detriment of vested holders is on the mark. It's quite obvious, people buying the coin on exchanges are guaranteed not to lose by virtue of the vested stakeholders dumping on them.
Correct, that's what I meant. But thanks for writing it up in detail!
Excatly!
On the other hand HP holders can earn from the vesting and curation rewards so the advantage flips to them on that front so the issue is not cut and dry. The real question is where does it all balance out.
Are you preferring that they don't buy?
Of course not, I was just stating the obvious. If we think about it, it's actually an advantage for everyone to have that guarantee (speculators can hold the coin for longer periods on exchanges without the fear that they will lose because the stakeholders start selling).
Having a large proportion of the total supply on exchanges means that HP holders get higher vesting and curation rewards. That has its drawbacks as well...the risk of an exchange hack would hit the network in a bad way (for example).