Where do you see the influx of new money coming in to boost the price back up from?
Last time, there was certainly a lot of money flowing into crypto in general with many diversifying. This round, I have the feeling investors are going to be a lot more discriminating, having gone through hysteria and gambling, choosing what’s solid - i.e. BTC & ETH.
Despite userbase, I’m not totally sure what the value proposition of Steem is from the new investors’ standpoint - especially given the transparent dramas and tokenomic faults. Most likely, simply speculative -given there’s probably not too many eager to buy as the utility token because they want to either be active curators, or reap ROI through self-voting or bidbots. And certainly, the business model of Steem with Google Ads as the only(?)source of revenue isn’t exactly a strong fundamental to base an investment strategy upon.
Sincerely asking, as I’d love to see some fresh perspective that revive my faith and provide some tangible substance and merit, if for no other reason that to neutralize my own discouragement with what I’ve observed unfold over the course of the last years...
Is Steem even on the exchanges? Where can it be bought? It's not on Coinbase yet?
Binance, Hitbit, Bittrex just to name a few.
Being on Coinbase would help with the US market. Of the exchanges that have decent volume it's listed on Binance, Bittrex, Huobi and Upbit.
Speculative "investment" is not relevant to sustaining the valuation of the steem token (not in the long run). We need more businesses that take advantage of the inherent properties of the blockchain as a data storage unit and the fact that it's super fast and feeless. Steemmonsters is an example. You need to stake steem in order to have enough resource credits to perform actions on the blockchain. If enough businesses are built that leverage these properties then the supply will dry up and the price will follow.
I still don’t see too many businesses finding that as an advantage worth investing millions for.
I’d love to be wrong, but I’m pretty sure nothing like Steemmonsters is spending any significant sum on resource credits that’s pushing the price up even 1%...
The other problem which I'm sure you notice too is that early on people could actually earn a decent amount of Steem posting, blogging, interacting with the blockchain. So we knew at minimum there would be quality content generated over time.
Now? Now those days are gone. So we cannot even count on that. Steemit generates profit from ads but those aren't going to be shared outside of Steemit are they?
Overall, SMTs sound like a good idea but aren't necessarily going to result in more revenue. The Steemit team did a good job cost cutting and generating revenue for Steemit but the ecosystem and developers seem content to build nice tech toys which don't do anything economically speaking.
What I mean is, if we look at SPS, we can see SPS may or may not favor developments which increase revenue generating potential. We could end up with even more spending of Steem on toy projects which don't really do anything to grow the economy of Steem and yes the economy of Steem needs to be measured and grow.
Blockchains which do not generate revenue cannot profit. Are Steem tokens being burned or generated? Are there any supply sinks? Do you see anything which would lead a reasonable person to believe that the supply of Steem will decrease?
They backtracked on the 2 year lockup and that was the beginning of the end. After that happened, then everyone else started to follow the lead of the hard forks which kept changing the economics in favor of the short term speculator, the whales who wanted to dump as fast as possible, etc.