There are numerous issues to be dealt with, for sure - however, i assure you there are serious bugs with the signup process in some cases - I was unable to sign up 2 different people, no matter what I did. In the end I was forced to pay for the accounts to be created by a 3rd party service. Numerous people commented under my previous post on the topic that they have experienced the same thing.
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Well the three I told you had no problems, it wasn't instant obviously but if I'm not wrong all of them got their sign up email less than 2 days after signing up.
Ok, understood - I don't really know what's going on, but maybe there's just a few serious bugs that only occur in some circumstances.
As for the price being held down, you know what really has me wondering (I don't say you are not right, I am just giving an idea I have) every time Bitcoin takes a hit Steem and most other alt coins behave more or less in the same way. Now I can understand the others, but Steem, you have a huge amount of Steem powered up you would take 13 weeks to power down all of it and yet it's synchronization with BTC price changes is almost instantaneous, how can this be?
The price of Steem is not really dependent on Steem Power since steem can be held in wallets and in exchanges in it's a liquid form. I don't recall seeing any data on how much steem is held as steem power and how much is not - but that info would help clarify things.
Well I see a lot of Steem Power just with these 25 guys.
I don't know what the 'steemit' account does exactly, but maybe it acts as a holder for SP that is used in the generation and payout system?
If we remove that account from the list, then the SP vs. Liquid Steem ratio seems close to 1/1. If that ratio holds throughout the rest of the system, then it is feasible for Liquid Steem to be traded to a high enough level for the price of steem to be directly effected by the fluctuations in Bitcoin prices.
I think the fact that STEEM follows Bitcoin prices and so too do other coins, might be partially due to larger investors having a portfolio across many coins and choosing to buy/sell multiple coins simultaneously, but I don't have enough data/experience to know the truth here.