Replying here due to child limits:
as your currency drops to nothing ...
You obviously do not understand markets. Again, I do not say that as a slight, but you are speaking as if you understand but your words illuminate your lack of knowledge. Currencies do not "go to zero". They find support and resistances based on technicals, fundamentals, and speculators. Going to zero only happens in theory and textbooks unless a company goes out of business. A cryptocurrency dies if there is no trade volume.
you are to stubborn to see what is happening right before you.
Uhmm.. what am I not seeing again?
it is all based in confidence and speculation about how the social media platform is preforming
Yes. The price of Steem and Steem Dollars is based on confidence and speculation. Speculation includes both the buying AND selling of a currency. Please refer to my original point about it having EVERYTHING to do with people selling Steem for BTC.
if the social media platform dies...
That's a very vague, hand-wavy statement. Care to explain how that would play out? The blockchain is more important than Steemit since many more things can be built on top of the Steem blockchain. The only way I can foresee it simply "dying" is if a competitor differentiates, competes, and devours enough market share to make Steemit irrelevant. Rational actors will simply move to the new platform.
People buying steem and value of the currency are only reflections of that.
.... and selling. You are correct that the perception of the platform affects the speculation (buying or selling ratios), which affects the price. I'm simply arguing that the abundance of whales powering down is putting a great deal of supply into the market and the price declines as a result. Microecon 101.
wow your post and attitude makes me want to quit even.
If my comments to you make you want to quit, I can't help but wonder what your motives are for being here in the first place?