Well first of all let me say that Steemit totally is sustainable for a couple of reasons. The most important being that our user base enjoys being here and there are way too many of us that spend every waking moment checking every aspect of Steemit for it to simply up and fail. You could say that we are all being overpaid, but you have to look at some of the other coins in place to make a comparison.
If you have enough Bitbean you get sprouted which creates more Bitbean. Do you think that Bitbean is as relevant as Steemit? I don't. I like it..... but it's not in the same ballpark.
There are definitely a few kinks that need to be worked out but as far as I can see they are being worked on. When SMT's come out we should see a complete rise up. However, I think the main factor keeping us down is simply Bitcoin's difficulty rising backup against the bearish market. Once the market rises up I think Steemit itself is going to explode.
Just look at Steem Monsters. It's already taking off and they don't even have the actual game in place yet. People are so excited to have something based on Steem. I'm excited about it too.... and why shouldn't I be?
This ride is barely getting started, it may not last forever, but we've still got a long journey ahead of us.
I totally agree. I was just responding to the dooms dayers.
It might be unsustainable as is, but it isn't staying that way!