More users increase the capital value of steem the same way it gives facebook value. This is an attention economy, meaning the value comes from having so much attention in one place. Hence why we had adverts on TV, and now all over the internet. The value comes from the economy that values our attention. That's why Zuckerberg is a multimillionaire. The difference with steem is it is supposed to be decentralised because we become the stake holders. Unfortunately all the payouts are going back to the whales, so currently that isn't happening.
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Ahhh yess and it all goes back to the problem of those persnickety hoarding whales feeding off our content. Tsk. Tsk.
I need to finish the story aboutvmaking tgem behave. Yall should check out @meesterboom s page about hating whales lol
Don't get my wrong, I don't hate whales. There's maybe one or two that have lost my respect but the majority are just acting the way the incentives align them to. The original incentives were to spread the wealth, not for the sake of socialism but because a token in the hands of many is more valuable than a token in the hands of a few. This is also what should incentivise uplifting the network instead of the self, but this is now a bear market, so whales are bearishly clawing for more stake while being reckless about the price as it appears uncontrollable.
I think that sums it up Beanz, we seem to be in Bear market currently, and maybe there is something to be said about the problems the website had for what it seemed to me a month. But we should not be quick to discard the people who left for other reasons as well.
I'm only in crypto kindergarten yall. Whats a bear market? Should i hide my pic-a-nic basket?
hahahah no, no need, its not really a term used for crypto only... I will venture to say it's probably very old terminology... It basically states the general tendency of movement in price of an asset. For example, we could say that Sears and traditional retail is on a bear market because every year they lose money and valuation. Their stock keeps on sinking lower....
The other term you will read/hear is Bull Market, which of course it's the opposite.
And to make sure that you become a super expert here! People's opinion on an asset, if they think a stock or coin is going up or down is expressed like this.
"I'm feeling pretty bullish on bitcoin right now"
"It looks to me that Steem is quite bearish"
There you go lima... you are officially an expert!!!
;p
Sweet, wheres my degree from minnow university @swelker101 ???!?!