Steemflation?
So hard fork 19 has come and I think generally the majority of Steemit users are liking the initial effect of having more voting power, and therefor more Steem. The one thing I did notice is that today the value of Steem went down ~5%.
The initial premise behind the fork was 2 fold, giving minnows more power/income and when the excess Steem is made, it will go on the market but users will want to buy more Steem and it will even out. One thing that kinda worries me is that although this is true, what happens if everyone is too cheap to buy anything and floods the market pushing the value of Steem down. Now I'm not too researched about the subject, so below tell me what you think.
*For all I know the price could jump $5 (which I hope it does). I love what the hardfork has already done and hope it just improves Steemit!
If you like this post feel free to "Resteem" this post and follow me at "https://steemit.com/@cryptowallet"
Berehnyan bang.
Makasih beh atas informasi jih, pat lawet nyoe? Na neujak ublang mantong?
Na mangat ceu matok bang? Na tinggai ukee lam blang neuh?
Beu panik na moto jinoe ngen muu lam blang jadi bek susahbeh bang, gampang nyan mandum jwut ta olah
I have the same worry as you yesterday, I am afraid that the SBD price will go down after the HF19, as I see kind of the inflation here. And wondering will the big whale just down power to cash out the SBD which make the SBD become lower. But finally I still maintain the SBD, not change it to BTC, as I see the percentage of drop is not really high (compare with BTC). Of course, I wish the SBD will go higher afterware, but god knows..
I'm already loving the hardfork. An increase in the value of voting powers for minnows will only encourage more to join and participate in the Steemit. This can only be good for Steem.
I have to agree with you on this one @marcusxman :) I think the same!
I agree - I find myself way more incentivized to post AND vote. Since it actually makes a difference now!
I saw the same thing happening this morning, and I bought another $500 dollars worth of Steem at $2 dollars. There is no way that the number of users is not going to explode after HF19. Just think how lucrative it is to sign up and only comment and curate.Let alone, write good content and get rewarded for it. You can put $1,000 dollars into SP and upvote your own comments $10 dollars every day in total if you wantd to. That's 1% per day. Shits about to hit the fan and soon. I have been trying to get many friends into steemit in the last month, today after telling them how much I was making, got 2 to sign up. I know I can get 10 more, and thats just me. Now multiply that by... i dunno... a shit ton!
After Sunset theres always a Sunrise :D I strongly believe in 7.83USD till 01/18. :-*
Well i thought maybe price dropped cause many people made money and sold, but i know many minnows who were dissapointed working for pennies and this was like giving fresh air to all of them, i think more people will join ans steem will become more popular, i am holding my steems expecting a climb in price, nice post
@cryptowallet... Thank You for the wisdom of this post.
UpVoted & Following...Cheers !!
Personally, I don't think that will happen.. I've already bought 100 Steem since The fork.. Waiting on 50 more right now to be sent to me. More voting power does not lower confidence in steem. Basically instead of wales being able to vote for $100 before it gives more power from people like me with a small amount of steem power.
So far it seems to be serving users better all around.
Yes, I did notice that voting had more power today. One blog that I upvoted appears to have a $40 voting power.Wow!
Upvoted yours and resteeming it.