whales are powering down, it does put downward pressure on the price. However, this is a onetime thing as once it is old, the STEEM gets distributed more to people with a much higher cost basis and thus less likely to sell at low prices.
Worst case, we have 2 years of artificially low price and then when the whale supply is gone,that is really when the STEEM price can reach full potential
Well even at the end of the two years, anyone that has been powering down will still have steem power since the amount gained outpaces the draw down amount in one week.
Redistribution is definitely a plus since the system succeeds on mass adoption. I trust the developers which is why I power up everything I get. I also believe we are near or at a floor on price. As I understand it, a rebound in price would help because the same redistributed inflation would count for more in value. If it tripple from here my upvotes will be worth 6 instead of 2 cents...though my 2 cents does have a nice ring to it. Thank you for responding and I like reading about your progress on Supernet.