Is there anything more contentious than price?

Steemit is the flagship application for the Steem blockchain, crypto unit, and wider Steem economy. It is still in beta and it's configuration is being continually adjusted. What's more, there was recently a huge overshoot in speculative value, based in part on fake account growth and bot related activity.

The price of Steem today may still be higher than sustainable in the short term. It may fall further.

Whales selling & buying Steem

Whale's selling pressure should be analysed carefully and individually if at all. Some whales;

• have bills to pay
• are attempting to distribute Steem more widely
• are deleveraging risk
• are selling high and buying low
• are providing liquidity to the infant market
• are building out the Steem economy (apps and companies)
• are banking profits
• may be using Steem to invest in other projects
• may be doing a mixture of these things

Is any of it worth worrying about? That is very difficult to assess. Steemit will either continue to grow or it will wither and fail. Is the price of Steem today accurately forecasting which? Absolutely not.

Please consider

Everyone invested in Steemit with Steem Power is continually being awarded with more Steem Power. Can you imagine how many new whales and dolphins will be created by another greater-than-inflation, growth spurt in the value of Steem? These will be accounts who have worked to make Steem and Steemit a success.

There are several good reasons not to worry about the drop in Steem price;

• it is less costly for people to get hold of Steem, existing or new Steemers
• new developers & businesses can more easily build a stake
• the distribution of Steem becomes less centralized
• content & curation becomes more diverse
• the Steemit community becomes more distributed, with greater depth

I think there are other benefits and as long as the balance is maintained within the Steem economy at a lower price for a period of time, the consequences will be overwhelmingly beneficial.

These are just my opinions. I love Steemit for what it's already achieved, let alone it's potential. I think it is more likely we will succeed as a community than fail. Therefore, the short term price becomes less relevant in the face of;

• ongoing development and platform building
• clear commitment from key stakeholders
• improving content quality
• reduction in spam & low quality posts
• increase in community driven initiatives
• sustainable growth in accounts & activity (once noise removed)
• impressive launch & market cap in beta

Happy Steeming!