[EP119] - Steem's place in the next recession.

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Hi everyone!
Hope you're all well!

I've been trying to work out if a recession is on it's way... in the hope that this information might help me make some decisions about my future. Of course, while researching this, my thoughts also lead to thinking about Steem's place in a world recession.

People buy into cryptocurrencies with money they can afford to lose.... this means that it is their spare money that they're able to speculate with instead of saving. In a recession, people are very careful with their spare money because lots of people start to get very nervous about keeping their job.

In a recession, I would expect the entire cryptocurrency market to go down... as people pull their spare money away to pay bills or save. However, I'd also expect some investors to pull their money out of shares, stocks and bonds, and put it into digital gold (ie, Bitcoin) because it's incredibly more useful than actual gold (although admittedly more volatile - so maybe not).

Steem however, since it will continue to produce Steem tokens regardless of a recession or not (the rate of printing Steem tokens doesn't have a lot to do with what the market is doing) and so we might find a lot more people join the Steem blockchain as other avenues of generating income dry up.

This will mean more people will be vying for their portion of the reward pool... but it also means more people might invest in the Steem Blockchain in order to further influence the distribution of the reward pool. We could actually see Steem uncouple itself from Bitcoin for this reason.

It's all theory and speculation though, especially since we don't have a lot of history to study (not that history always repeats when it comes to brand new technology).

I'm very curious to know your thoughts though... do you think a recession is coming? What are you doing about it? How do you think cryptocurrency will fare? What do you think will happen to Steem?

Thanks for watching!

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