RE: PRICE WILL CONTINUE DOWNWARD UNLESS WE MAKE A SIMPLE CHANGE
with a huge interest payment for you
Powering up doesn't give you interest , you actually lose money every year when powered up.
They see the price slide and slide without any break and they believe that in the future it will be much cheaper to buy steem. So they hold off on buying and then they forget.
The price is not going down because people forget to buy, it's going down because people don't understand how they could possibly get a return with such inflation and they are questionning the long term viability of the platform.
Don't threaten a fork though, it'll adversely impact the price for everyone and your fork won't gain traction due to all the people pissed off you crashed the price of their investment.
You don't need a fork to achieve this, it 's going to happen regardless. People are already pissed and the price already crashed. The situation is pretty urgent if you ask me.
Some say that steemit would still work if the price was 0.001$. That's probably true however you won't have many people left to post content and the reputation of the site would have taken a big hit, so I suggest we do something about it soon before that happens because that's where the price is heading. I see no reason why people wouldn't want to fork to remove the unnecessary inflation, it will instantly make their stash more valuable.
I agree... We are in the midst of a death spiral and if we don't do something about it, we are looking at $.0001 in the not too distant future. It concerns me that there doesn't seem to be any urgency by the founders to correct this or at least slow the slide down. The argument that the market will find it's correct price is bull because there is just way too much supply coming onto the market every day, it is impossible to be absorbed, and it likely won't be absorbed with the current platform specs.