There are so many shitcoins that have exploded in value comparably, that have nowhere near the solidity of foundation that's been being built here.
Bit of a strange paradox, isn't it? But speculation is often far more exciting than facts. There are a bunch of coins out there going to the moon on nothing more than the word "blockchain" was in their White Paper 20 times.
The footnote I wanted to kick in there is that this is not specific to cryptos... it's an investment problem. Well... that's actually not quite true. It's a lottery problem... a lot of so-called "investors" are actually just gamblers hoping to ride something to the moon in the short run. "Investing" is more about buying and holding for the long term... but the same thing happens in the stock market-- a whole group of people chasing rumors around, hoping to catch the next "20-bagger" rather than just putting their money in something stable that quietly doubles in value every year.
Most folks chasing rumors in stock market, or in cryptos, will eventually lose their money.
Trying to explain STEEM price as just being "unlucky" in the lottery of crypto prices, does disservice to the USD 550 Billion already in.
So that USD 550 Billion was just randomly assigned, and STEEM got unlucky?
NOPE !!
There are better explanations
If you have examples of these stable investment opportunities that quietly double in value every year, please do share!
well-said.