Well, in my personal opinion I do feel that Steem/it is a good long term investment.

There is a lot of potential here, and I think the owners + developers are doing things right and taking the site/community in the right direction. I've interacted with Dan/Ned/the dev team regarding the wish list, and I think everybody is on the same page as far as where we want the site to go.

People/investors need to understand that this is a long-term project, and what you see today is not the final product. They are going to make significant improvements, fix most of the issues that people have with the site today, and add a lot of new features.

In this post that I wrote on the price of Steem, I talk about the fact that the site is not setup for minnows right now. They had their "whale" recruitment, where the initial round of investors/miners got in very early. Right now, they are in their "dolphin" recruiting phase. It does suck for minnows, and I believe that minnows will be the most important demographic for the site - but at the moment, minnows are not the focus. Dolphins are. They do plan to make the site way more minnow friendly, but that is not the focus of today.

I think the main two things you need to look at regarding potentially buying in (especially in a large amount) are:

• Do you think the site has the potential to be successful in the long term?
• How low do you expect/want the price to go down before you buy in?

Obviously you need to make the right decision for you, and Steem/it is a risky investment. I would not recommend investing anything that you wouldn't be comfortable loosing.

If you are comfortable with the risk though, and you believe in the potential Steem/it has, then there are good reasons in favor of investing.