Hello. I read your article and am wondering if the number of new users is causing our wallets to shrink, or is it because the value of steem dropped?
If you know the answer, would you kindly enlightnen me?
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Both answers are "yes", but in different ways.
The most important "yes" is the drop in price. STEEM lost more than 50% in less than 3 weeks, it was trading at $2.4, now at $0.98.
The second most important "yes" is the one related to new accounts and the fact that these minnows are also participating in the reward pool. I don't have any calculations on that, so I can't give you a specific percentage, but I see it as insignificant, compared with the price drop. In time, the "minnow squeeze" will become a problem, though, if there aren't any adjustment made at the blockchain level.
P.S. If you're looking for enlightenment, I would dare to recommend meditation and compassion. Chances to get enlightened by a random answer on a blockchain-powered social media are ridiculously low.
Thank you for taking the time to enlighten me. I appreciate it.