We will see ups and downs until the market finds a price that balance value creation of the system vs people dumping the coins. Hopefully we can lock in most users by making the internal money useful in itself.
We will see ups and downs until the market finds a price that balance value creation of the system vs people dumping the coins. Hopefully we can lock in most users by making the internal money useful in itself.
I have steem i purchased at over 0.0062 Bitcoin, now it's at around 0.0052 Bitcoin per steem.
I don't know if i would wake up with my investment worthless or not. Just purchased this crypto to short at first but got lost in it's features and it took a while to figure out how it works, especially with registration being closed since hearing about it.
I don't know what the "downs" we are looking at will be, but maybe... i'm hoping i guess, that newer users would be buying more steem to compete with the older users to earn more steem dollars? therefore increasing buy support even if content creators "dump" their earnings.
And the value will probably be much lower than what it is right now. For example, If you spend some $4 to by 1 Steem right now it wont make any difference on your voting power... price is just too high.
That's the thing, if you are used to the "previous price" you will always think the price is "too high".
I agree though, it does seem too high. But never under-estimate crypto markets. I sold my Bitcoin at $1 after buying it for several cents. Now one is worth $657 and i'm kicking myself every day.
Same with ETH, i moved on, mined 10 blocks in a matter of hours (worth 50 ethereum in total) and turned off my miners as i saw bagholders with 10,000's of eth. Now ETH Is worth $15 each. Had i kept on mining i could be sitting on $1000's (probably like these newly posting users). And this is a coin that had tons of issues, pre sale and has similar number of coins as STEEM In circulation.
+1
I think the initial predictions and maths might be a little off. Considering how young this platform is, its surprising how entrenched the powerful already are.
In terms of inequity, Steemit really is a victim of it's own success.