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RE: Why Steem is approaching insolvency and what to do about it

in #steemit8 years ago (edited)

I have not memorized the language of finance & market trading. So the comments here are a great opportunity to chisel my way into those dark arts - lol.

FWIW: I just bought steem yesterday to power up my account. Hopefully more people are thinking along these lines. The way I see it, Steem is so new, hoping to make a significant amount of money from participating, is the furthest thought in my mind. It seems logical to me to address steem as a long term investment. If the majority of people earning from posts, cash out, well it seems obvious the result. If people go long, it gives the currency and the system time to grow large enough to handle activity that includes a lot more withdrawals.

However, markets, valuating, yeah, not my strong point. Perhaps reaching out for new participants could feature less "Make $$$ Posting!!!" and more "Enjoy creating and reading quality content?"

Or does that defeat the whole purpose? I also think that drawing in less young people, seeking to get rich quick with their untapped awesomeness (now that they dropped out of high school), in favor of seasoned participants would add major value. I wasted way too much time trying to hold an actual discussion with some kid who couldn't hold a conversation without swinging wildly out into all sorts of half-baked certainties of his ... My fault that I didn't clue in faster.

So take heart that there are some of us out here buying in.

Cheers, and thanks for the post and discussion