I think this is just some natural profit taking not so much do to oversupply, but because of the huge I total increase in price.from .29 to 4.50 so even at 1.5 there is still a huge gain from the lows. Membership growth is still exploding and this is going to create a new demand .
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IMO the price of Steem is too high. I hesitated to buy some at 0,30 and a short time after I was staring at the price beeing more than 3.
Sorry to hear that. I got in at the 3 $ mark and bought some, now it's at half that lol.
Membership growth might restore demand, but if we get a bunch of freeloaders that start doing great articles and getting tons of STEEM for it, then sell that STEEM for a quick buck, we could be in massive trouble.
How is the person a freeloader if they are producing great articles?
Yeah I know freeloader is a derogatory term, it was just the first thing that came in my mind.
I'm just saying that people who just come and take a bunch of STEEM and sell it in the market for an undervalued price aren't really helping Steemit to grow at all.