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RE: Do the drops get you down?
These prices are a fire sale in my opinion, but you know that my opinion is skewed :D
It would be great to be able to put some more in, but I bought some not too long ago and have to wait.
I agree these prices are fire sale too. Just not sure how hot this fire is going to burn before it gets put out. It takes some of the big players to sell enough that when it starts going back up they don't just dump more. This is the issue with such a large portion being held by so few people.
The whales like to point fingers at the small guys who earn a few steem and sell it off, but there is zero chance that is the issue. It's the whales selling that holds back the price. All the little guys put together don't earn enough to sell $67,000 worth of steem like was showing for the last 24 hours volume when I looked this morning. That was 650k steem give or take that was sold quickly that resulted in a rapid drop in value vs BTC.
IMO I love that someone dumped that much. They can only do it once and hopefully whoever bought it isn't looking for a quick flip and holds for a while.
This is what is required for distribution. What needs to happen though is that more people need to buy than sell for it to continually decentralize, which is slowly happening.
Agreed. We need the whales to all have maybe 50% less stake on average to avoid a few having to much power. That power spread around to other people who want to see steem succeed long term and are advocates of the blockchain would go a long way towards this becoming a long term success.
THis will happen with the market ups and downs, and as long as there is a growing spread of holders, the place will stabilize. At some point, sellers will miss their buy backs and have less tokens each time.
I'm patiently waiting for the stabilization...lol.
enjoy the volatility while it is here ;D
This is the hard, cold fact about our project, imho
It started out centralized and overtime as whales sell and minnows buy, that’s how it gets decentralized. It looks problematic for price but...,
Every problem represents an opportunity for problem solvers or those who look fir opportunities in problems.
Some will run away and others towards the problem, each convinced that they are right.
😉
I am hoping that as use case increases, the minnows buying will start sinking instead of speculating and each round a little more will move from the liquid pool and create scarcity, which will push more of the same.
There are more minnows then whales and the price is right for them to power up. If not now, when?
For some, the price is never right, even when free ;D