The price of Steem is market determined. Just March of this year Steem was going for 16 cents. Right now Steem is hovering around 90 cents but it is certainly possible it could fall below 50 cents and back down to 25 cents or even lower. The question is what will happen to the Steemit community during this sort of recession in revenue? Posts which only get $2-5 now will be getting pennies if this happens. Posts which get $20-30 now will be getting $2-5.
What happens to the morale of the community if the price of Steem collapses? It is important to remember that Steem is just an experiment and we are all lucky to be able to be the beta testers.
7, maybe 8 cents is the lowest I remember it being...
I came here because this was a cool social content platform that seemed to actually have a sense of community like the social blogging platforms around 2002-05... and I have definitely not been disappointed from that perspective... there are some awesome and interesting people here.
The fact that the site happens to pay rewards was always a fringe benefit to me, not an expectation, nor my driving motivation. My experience has been that content sites that pay rewards invariably fail unless steps are taken to prevent those who care about little other than exploiting the system for personal gain... are blocked from doing so.
We'll see what happens here... I just hope the "technologists" don't overrun the content creators.
I feel like it's all a test , we have to stick together during the bad time and overcome it together . After every downfall there is always a rise . I know a lot of people will give up but that's life , it tests you. The wait and the hard work will pay off
I wish I knew about it when it was 16 cents!
Here is the fact... a crypto crash will happen and value may be 10 cents but the question is steem should provide a value to its user more than the crypto factor to it. Compared to reddit, i dont see a quality discussion here!!! Market i think is understanding that
I really don't mind the price fluctuations. If it falls to 25-50 cents without a good reason I'll buy more. If it falls to 5-10 cents I'll be throwing fiat in specifically to buy up STEEM rather than just using my cryptoholdings. I know it means lower payouts, etc. in the short term but there's a lot in the pipeline and active development.
I pray that should never happen, I'm scared to Death if that should, when i saw this i was like nooo steem Keep. Rising, lol well. Like you said we are all. The beta tester
Interesting thought and certainly possible given all the fluctuation Cryptocurrency has not to mention inflation in Steemit itself. But I'm thinking it'll grow a lot in the next few months, specially with the introduction of the Smart Media Tokens (SMTs). What do you think of that?
I'm not going anywhere! If it's low I keep writing and may even buy Steem to Power Up :)
Remember when bitcoin was 16 cents? ;)