People cash out just for simple reasons, to buy things, it does not matter if its steem or any other currency... The day will come when we can buy things with STEEM, but until that happens, people will keep cashing out... As for the HF19, i guess they are incentivizing new users to grow the platform, and makes sense, there is no point on having just a little bunch of old happy users making big payouts, while new guys cant get more than 2$ a post even with 200 upvotes... Although i cant be sure of how HF19 will work, i don't think it will be that bad for you old users...
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