I think the fact that Steem is created out of thin air and the fact you can earn $150 by posting a picture of a cat and then sell it on an exchange 7 days later makes people less inclined to pay for it by parting with their Bitcoin.
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don't forget all the steem power are actually money stacked , forget about the 50% in sbd that goes out on exchanges...there is the other 50% that goes to steem power...if you take power out and replaced it with interests then you can have a more clear picture
everytime you vote you are creating dividents or interests which rates differs depending on the size, weight of your vote
if all sbd were to leave steemit we will still be growing by 50% or half the speed as if we would if we re invest all the sbd in steem power...
50 % growth is not bad ..
even if no new users were to enter steemit the time will come were the interests will surpass the initial invested capital in steem power and so on in an ever increasing value
that;s why we say steemit to the moon ;)
right now people are cashing out to buy bitcoin and benefit from the doubling that will occur on the fork for example let's say I have 5 bitcoin in my external wallet (but not in exchanges wallets like biirex polionex etc) on the day of the fork I will be having 10 bitcoin...for free..
so now we have like what? 200 bilions in crypto and by now almost 80 billions are in bitcoins?? we are talking around 150 to 160 billions in total bitcoin cap market literally overnight
people are rushing to buy bitcoin which will increase the number of coins but also the value
once the doubling is done I see bitcoin will take a dip down to around 6000 even maybe lower than that but never under 5000
that is because people would wanna sell those extra cins they got at maybe 8000 or higher and that is when you will see steem demand rising and so its price
@poias @somecoolname
On Jul 13, 2016 Steem was at $4.93. Since then it has been around a $1 (give or take). We keep hearing about the thousands and thousands of new members signing up each day yet the price is lower than it was in 2016 when the user base on Steemit was so much lower. Demand normally makes price go up not down. Gold, Bitcoin, Silver etc have value because they are rare, the way Steem is created and is so easily obtained (by Whales) devalues it in a massive way.
Also the 50% that goes into Steem power can be powered down and then sold.
This sounds like I'm complaing about Steemit, but I really like the platform. It's a great place to talk about crypto and get rewarded. I just think its bad advice when people are peddling Steem as being worth upwards of $100 in the future, this simply will not be the case.
I agree with you! but unfortunately people power down! then count all the people that are inactive and didn't invest steem! do that then add to the real active users that doesnt strip rewards and you will see we are in the few thousands and few thousands are making the price worth a 1 dollar or so...that's not bad
all thanks goes to the whales holding millions and delegating millions ...and curating by the hundreds ...if it weren't for them...there wouldn't be something called steem as it would have shorted a long time ago
even if big whales decide to power down everything you can still blog and still vote and do practically eveything else if you don't care about money...eventually someone will be interested and will invest money in it and so the price would go up again and that is how whales were made
Steemit can go bear market for ever and never crash lol
Steemit does really have fishy smell ....the minnow / dolphin / Whale seems like an inside joke, upvote yourself to make a fortune
... or those could be advertising pumps to increase interest in the platform
sure big #'s with $ in front look enticing to try out ... look deeper at the picture
When Steemit let us start to swim in the ecosystem.....we saw picture of flowers making $500 dollars in 3 hrs
Ya man..widen eye marketing to hookem in
But then sour grapes changed the taste in the mouths of some who were actually freelance Pro's...making 0.07 cents for the same flower but better centred.
This leads to complaining and subconscious hate commenting