Hm. How much experience do you have in markets?
people selling steem for bitcoins has nothing to do with value.
This statement tells me your knowledge on the topic is limited. I don't intend that as an insult, but I'm trying to gauge where you're coming from with that. People selling Steem for BTC has EVERYTHING to do with the price of Steem. Value is a wholly subjective term, but I never mentioned value.
Someone who gets downvoted repeatedly and doesn't continue to contribute likely wasn't contributing much valuable content anyway, by my guess. Did you pull those numbers out of your hat?
Post rewards are subjective because they're voted on by people who have subjective methods of evaluating what they want to upvote.
I actually love Steemit because it drives people who are entitled OR it drives the to shake off that corrosive mentality and exchange it for some determination.
wow your post and attitude makes me want to quit even.
Have fun with your "quality" on a social media platform as your currency drops to nothing because you are to stubborn to see what is happening right before you.
it is all based in confidence and speculation about how the social media platform is preforming. if the social media platform dies (for any reason) then so does the block chain and currency, correct?
People buying steem and value of the currency are only reflections of that.
Replying here due to child limits:
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.
Uhmm.. what am I not seeing again?
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.
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.
.... 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.
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?