I'm thinking that the current 50/50 payout being half in SBD rather than STEEM is helping this. Unless people are holding, powering down, or using the SBD to buy STEEM, they really do not have any to sell. If the 50/50 payout was half in STEEM, I think that we would see a lot more STEEM for sale, right?
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It is indeed helping steem. And I think it was a deliberate choice of steemit to flood the market with sbd to cool the price. And as a scondary effect increase demand for steem. Personaly I liked it better before. It is just extra to constantly burn sbd, which I don't care so much for.
"And as a secondary effect increase demand for steem". I could not agree more and if you combine this with the explosion in New Accounts I think this is starting to put a tremendous amount of pressure on the Supply. Demand is heading to outstrip the Supply fast..!! Stephen
Unlike you, Stephen, I'm in no rush. I miss getting huge amounts of steem at 13k sat.
Thanks for this I appreciate it. I think it is a combination of things. The new reward structure and the increase in number of Accounts. Let's keep it very simple. Let's say if there was 236,000,000 STEEM and 236,000 Accounts. That would be 1,000 STEEM per account. Now lets say that those 236,000 Accounts became 246,000 and no one wanted to sell their STEEM. I think this is what we are witnessing. On other words there are more holding on, then selling off.!! Stephen
This is exactly my thoughts on this.