True. The system just looks bad for new people when they get their 20¢ reward split between steem, steem power and SBD - one they can't touch for 3 months. I imagine many will say screw it and look elsewhere. Only time will tell what happens.
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We might be attracting the wrong type of people who just want to get rich quick for nothing. That will probably never happen on here for 99.99% of people.
I think eventually we will get 10 million accounts and a million active users and Steem will be at $100 or $1000.