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RE: The reason of steem losing its value
actually i disagree very much with this.
THe reason is that not enough minnows are investing ANYTHING else into Steemit.. WE can't expect a few whales to be able to upvote and support us all.. simple math explains that isnt possible..
If all the minnows put in just 100 USD it will go a long way to helping keeping the price up.. that and sending all your rewards to SP instead of extracting it all out of the system..
I agree with you. The few whlaes we have cannot possibly overview all the content created and therefor fail in upvoting it all. But what they do - and I think that is a great killer feature of Steemit - they delegate their power to community leaders. @Ned for example gave tons of Steempower to @surpassinggoogle to support the Steemgigs project. And you see that everywhere. It is not a whale vs minnow game here at all. We are all working hand-in-hand to make Steemit grow big.
Know things are very clear to me . I think I was wrong! thank you for opening my eyes.
You are welcome. This whole thing is not easy to understand and I am sure I haven't listed all factors either.
I know that is not easy , but I just attempted to make it simple. But it turned out to be a disaster. hahahah....! I had one more doubt, will the value of the vote for same voting power today will be same after a year. what I mean to say is , that suppose I can make a 0.5 dollar 100% upvote for steem power of 6500 today . Will I be able to to make 0.5 dollar upvote for 6500 one year from now, or it will change?
It will change! The price depends directly on the Steem price. The higher the Steem price the higher your upvote will be. And the price will go up.
But this way , more and more steem dollars will be created there will be no end to this ?
Correct there is a planned inflation of currently 9.x% yearly. It will go down in the next years. I can't really say what happens with all the Steem Dollars because the are pegged to the US Dollar. Imnteresting topic to read into. What happens with all the Steem Dollars? I heard that it is good to burn them with promoting posts because that destroys them. But I don't want to use the promote function because I think it doesn't help at all.
yup! and yes i see many amazing delegated people such as @canadian-coconut who continue to find and upvote really great content... overall in fact, there are really many whales and demi-whales who are all spending a lot of time upvoting great new content..
Its SO easy to complain or find fault.. but i dont really buy it. . we have to all do what is in the best interest Steemit for the long term.. and that means not just relying on people who have invested to make all the magic happen.. I keep trying to tell minnows and people with nothing to invest.. many have as a result.. but its hard to really explain it to that many people with my limited outreach!
anyhow.. glad you agree flauwy!
Ya @eco-alex , I think I was wrong , thanks to you all for explaining .
Indeed, it is up to us with everything in love to make a difference. It is the internal struggle in life we have to overcome, not the external. @eco-alex, I checked out your profile and it looks interesting. I am following you.
yes exactly! our internal struggles spill out onto the world.. only someone who is totally at peace and one with everything can sit and laugh at it all.. (hello Buddha) .. thanks for following, ill endeavour to keep writing cool stuff!! ;-)
Thanks flauwy, now I learned something I didn´t know!
I quite like surpassinggoogle and what he does for the Philippine steemit community,
didn´t know he got a boost from Ned.
Yeah, he is very actively involved in pushing the platform forward. I was lucky to meet him early and learned a few things from him.
I agree with your point of view ! But I think my analysis is not totally wrong , do have a counter argument for whales exploiting their voting power?
well my feeling is..
THis is one of the very first real life examples of true Anarchy.. and to be specific Anarcho Capitalism. That means that basically there are no rules except those we choose to make and follow for ourselves. We are all in our rights to do as we see fit, and also to say what we think about it. It is also about making money and those with investments do want and deserve some returns if they choose it.
Personally, i think whales are entitled to do what they want.. overall they do AMAZING things here on Steemit to support new and great writers.. just look at @curie and @hendrikdegrote for example.. i know SO many people who were blessed with an @curie vote ... Whilst there are of course example of whales enjoying their own power and doing things you may not like.. it is Their money that has brought the price of Steemit to where it is.. and they are the ones taking the risk with a 13 WEEK power down.. Therefore i have no complaints.. since overall they are actually amazing people supporting things that i really agree with..
Meanwhile.. 90% of users are here to make money with no risk and no money invested.. when more people start to put their money (even just a little) where their complaints are.. then i know Steemit will truly prosper..
Gosh me driver, didn´t expect to meet you here, in the hollers of economic "theory" 😉
This article is wrong on so many levels, I couldn´t be bothered to point them all out, but by the grace of you and flauwy the author got some good explanations.
Let me just quote another legend, the great Kostolany:
"The whole stock market just depends on wether there are more idiots than stocks,
or more stocks than idiots."
My favorite explanation of how supply and demand drive price.
Thank you @likedeeler!
Thank you for your valuable insight. Really glad to learn that I was wrong.
Happy u agree! Its all personal opinions really!