Only 12 days ago I posted this article explaining why I believe the price of Steem and SBD was dropping.
The problem is: waving money in front of people that don't care about Steemit.
What does that do for the long-term health of Steemit? Are people more worried about usage than the price? Maybe the rewards system is built for a lower price.... Maybe they want to flood the market with SBD to get it closer to a dollar?
Either way, I saw it coming and I doubt we are done dropping. I, for one, won't buy any Steem until I see a bottom.
Unfortunately, I don't see it any time soon.
I am in it for the long haul so it is largely irrelevant to me.
The bottom line is this: as long as people think that it is easy to get rewarded on any platform in Steemit the value of Steem and SBD will continue to drop.
I thought early adopters understood Austrian economics? Seems now we took a turn towards Keynesian.
It seems that I (and the TBD crew) showed up at an interesting time here. As much as I'm sure we'd all like to see cash flow, this is obviously not the same as BTC or what have you...so it needs to be approached differently. Maybe things will pick back up when the leechers realize it doesn't work that way? shrugs (maybe I only half know what I'm talking about.)
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You guys joined during on of the busiest months for newcomers I have seen- the direct result of the delegations for the various platforms. It has to reach an equilibrium, I just feel it is at a lower price. It will rebound after finding a bottom I just don't see it until things "settle down".
It is all good, I admit I am part of the problem, I have cashed out roughly half of my rewards since streaming on Dlive to directly upgrade my equipment. In my defense, most of the crypto I cashed out to buy my laptop was bitcoin, bitcoin cash, monero and ethereum (only 15% was steem).
Oh well: it is what it is. Maybe this price correction is needed to gain mainstream appeal.
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Thanks for your help.
Thank you so mach .
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thanks for given the information
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This!!!!
Amen brother! I woke up and saw like 300 bucks out of my portfolio....I shrugged and said meh.
I'm not here to make a million bucks overnight, it's ALLLLLL long term for me. Let's see where we are in a few years from now.
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