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RE: Is this why the price of STEEM is struggling? STEEM Withdrawls 2017

in #utopian-io7 years ago

@paulag - a very well thought out and insightful post as usual, and I think as we start piling up the quantitative analysis we will need to start considering or proposing some solutions that will help address the issues (with or without the investors). I can't speak for investors (and there might be several different types of them out there) but I understand the need for others to 'cash out' because it is their only means of utilizing the value of the cryptocurrency. This could be solved by people providing more services that can be purchased using steem so that we keep the currency in the ecosystem. But for investors looking to make a profit, I just don't think this is the type of platform that was designed to cope with this type of behaviour and as you pointed out I don't think SMTs will solve this problem. It would be a very interesting hypothetical scenario to see what would happen if all the people creating content moved onto a different platform and whether it is possible to sustain it...

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really like the idea of having more ways to use steem..... a credit card be awesome

Not sure what the finance laws are in the UK regarding cryptocurrency, but I am not holding my breath for something to be available in Australia any time soon (sorry I think my rant is still not finished yet :D). Is it possible to track transactions on the steem blockchain in relation to the exchange of goods and services? That would be an very interesting story/data set to motivate some of the entrepreneurs and investors to set one up!