Nothing happened; it still works just as well as last December, but most people are motivated by fear and greed. Since they are ruled by emotion they let that dictate their actions, and are too depressed to use STEEM when the market is not doing well. It's a self-reifying loop a.k.a. vicious cycle.
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I agree with that @d-pend. many users are interested in crypto as a possible alternative income stream and as prices have fallen so has their confidence, interest and activity. crypto is also quite time intensive and requires regular input. However, all steem earned now should pick up steam over the next year and it's early days in a long game ! let's see how regulators deal with crypto and what effect institutional investors will have. One thing is sure..the blockchain revolution is gathering pace and will be coming to disrupt an area of business near you, soon ! let's come back in 3-5 years. half the current crypto's will have died, many more will have taken their place. hey, who knows, steemit may have already become more than the new facebook or twitter, it's a step change in social media.. and although even I haven't been that active over the last couple of months, I am still excited by blockchain and steemit. long live the altcoin
Your right, with the current steem price at the moment if I only have extra fiat money, I want to buy at least 40 steem to complete my 500 SP goal.
Damn near there pal.