Woohoo! somebody is angry. lolz.
You are right about the fact that Crypto market are mostly filled with retarded. But also do not forget that they are here for money and purely money.
It's the young individuals and small investor like you and me who are interested in the market to grow with it's functionality for good. The whales doesn't care. The find a coin with good prospects and pump and then dump. That's what they do to lure the small investors.
If you head over to bittrex as of this moment you will find out that all the rubbish coins are up by 30-40% up while the best of altcoins are down and out.
It's a trap.
Another point that you mentioned;
For now, I will say there's minimal usage for Steem tokens. Apart from receiving them for posts and maybe some users buying them to up their power, there's no market place, no gambling site, etc... where we can actually have usage and spend these STEEM coins.
There's not other usage because it's not meant for all those. STEEM isn't means to be used in the market for buying a shirt or your fav shoes etc.
It's purely for the content management that can be used for social media platforms and any other web forum that wants to reward it's users.
So, yeah you are right about the minimal usage, but I am afraid that will always be the case as compared to other coins such as BTC, LITC, ETH and DASH etc.
btw nice write up.
Thanks for the read and comment @ghayas!
Yea I know STEEM isn't for anything besides usage on this site, but that's the point I'm making is that the minimal usage will keep the demand down since you can't really do anything with it besides hold it here for power and give it to other people for actions on here or whatever. Overall point I was making is just that speculation and greed propels these shit tokens when proven fundamentally sound coins aren't doing so hot.
Agreed ! but I guess it will increase over time because steemit is only 500k users. Secondly, there are Millions of websites and at lease thousands of them are newspapers and magazines, forums etc. Surely, they want readers taking interest in their contents and what's better than introducing SMT's to their forums. Tx