Why does steem price continue to fall??? What can we do???
Here are the facts.
Steem is at the lowest point it's ever been since the beginning... .42 cents.
Why has it steadily declined, while popularity and usage is going up?
I wonder why steem decided not to evenly distribute voting power during this last fork/update?
It's a little curious to me as why all the power rests in the whales. A tad bit discouraging as well because.. why not talk about what you want to talk about, and be judged as an equal, than be judged by people who control the upvotes that matter?
Realistically, I would love to be a whale haha wouldn't we all.
But it just seems weird to me, not a recipe for success.
Another thing that doesn't sit right in my mind is that with an ever expanding steem fanbase.. You know.. It's ridiculous to think that everyone on here can get rich or make money on steem.. maybe that's what is making steem worthless is that the market is getting too flooded? I don't know, I could be completely wrong, but just a concern.
I also noticed recently some whales are powering down.. What does that mean for us? And steemit in general.
There are some really cool people on here and not only do I like blogging on here, and by the way, I never though I would post a blog IN MY LIFE... but is there anything we can do to help steemit?
What is driving this price?
What do you value steem as? (money wise)
I'm a newcomer but personally I (in my head) give steem a value anywhere between .50 cents and one dollar. That's a realistic constant for me to believe it has in US dollars. So to be honest it's only a little below the bottom of where I think it should be but it seems to be continuing on the downward slope, and this truly concerns me.
If I can help in any way.. please let me know!!!
Steem on family :) Hopefully for the long run.
The steem price is dropping because the whales are cashing out. It's that simple.
I agree. Voting power should be equally distributed. I'm still a minnow, but it is discouraging when I upvote posts and it is still at $0.00. Even $0.02 would be great. I also see posts who get like 67 upvotes and they are only making $1.35. Then I see another post with 30 upvotes that has $156.57. An egalitarian system (as proven by just about every country in the world) will never succeed in the long run.
I still believe in Steemit. I just wish the developers started seriously discussing these issues about voting in public.
Exactly @mscleverclocks ! LOVE the name by the way! Thank you! :)
Steem Power is not just stock In Steemit.com it is the right to print/dole out Steem. It is stock in the Steem blockchain. It has to reflect that.
Good point @matrixdweller! There should still be some kind of balance.
I thought the same before I realized the best way to achieve that is by whales upvoting minnows. If we give away more SP for signup people will simply game that with bot net. If we give noob accounts more voting power. same thing. You just gotta claw ur way from a minnow up or buy the Steem Power. This makes SP ultra valuable in the future maybe
Hopefully! I have been investing everything I can into Steem Power (which isn't a lot), but this is definitely a site that is designed for the long haul. I guess it reflects life in that way, as many businesses do not start earning true profits until a few years into their work, while some can get instantaneous fame and rewards.
To increase the value of Steem you can do 3 things . Buy Steem, tell people to join Steemit, Stop your power down if you are powered down.
this is my impression of me and steemit,
that was tremendous @lifeworship haha thank you!
de nada
The price has been and will continue to crash because the whales are powering down. Look at http://steemdown.com/
In particular the dev account steemit is powering down. This account still has over half of all of the supply of steem. Steem is extremely centralized and this is why some people think Steem's a ponzi scam.
Next, if everyone had equal voting power regardless of the size of their wallet, the system wouldn't work. It would be abused by mass account creation and bots. Not to mention you'd also take away the purpose of Steem Power.
Agree, and agree. I didn't even think about it like that.. But I mean it could be based on what posts are truly the best. A bot couldn't post good content, that's up to the trends and the people as a whole rather than a handfull's opinion, you know?
I'm not talking about bots that write content, just bots that vote for your posts. People can create tons of bots to vote for their posts, but right now it'd achieve nothing b/c the bots won't have any significant amount of Steem Power. But if everyone had equal voting power then that kind of abuse would be possible.
But also where does the money everyone is being paid come from? Right now, besides speculative investors, one of the only sources it comes from is people buying Steem Power b/c they want more voting power. And that would be gone w/ equal voting power for everyone.
I am very inclined to agree with you all on this subject, may I also say that your article is extremely well written. Already awaiting the next piece.
Thank you so much @ghost-trooper! Sounds good my friend. :)
Thanks for sharing. I wouldn't be to worried about the price. Technical Funds are selling STEEM short. The Commercials are buying. This will end soon. Its nothing to worry about. Happy to upvote. Check us out on Twitter✔. Now following and looking forward to reading more of your posts. Cheers. Stephen
Thank you @stephenkendal ! That's great to hear, and makes a lot of sense. I'll definitely follow you! :)
Being new I don't know what happens when you power down, I see the button to power down but what does it do?
I think it takes a vote away from the person, but I would never do that to somebody personally, so I really don't know either.
I don't think it's big deal. If you look at the price of other altcoins, the price usually starts low, goes to a big boom and then falls and stabilizes. It also resembles a 2nd order dynamic system response to a step input.
Of course, some events can make the price go up again but probably won't go back to that peak so easily.
I agree! I also think steem has more inherent value than those coins, the developers just need to fix something about the way power is distributed. True good posts should make the money rather than selective upvoting. As far as the currency though I agree I think it will be fine but a lot of whales are cashing out right now and you have to ask yourself, why? Thanks for the input!
What happens if they keep cashing out? Will power be more distributed?
Why it should?
I'm not sure what you're asking but yes.. I think power needs to be determined by other factors.. I would have to think about it more haha but giving the whales all the power is a little unfair in my opinion. If 36 people like your post and you make 2 cents.. that's clearly a good post but no real credit is given, you know?
I agree. The rewards are totally different If 36 whales vs 36 minnows like your post
Exactly, thank you! :)
I totally hear you about backing the steem dollar though, very righteous post.
You can watch this in action over at www.steemdown.com
Thank you!