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RE: STEEM CRYPTO CHALLENGE : My favorite cryptocurrency is SCR (ScorumCoin)

in #bitcoinbooming4 years ago

I powered down my Steem and transferred most of that value over to Scorum because I believe that it has much more potential in the long run. The Scorum economy is operating in a closed-loop right now, meaning that all of the coins being issued as rewards are coins that have been purchased from the open market for advertising. So when a member sells coins on the exchange those coins are either circling back into another member's account or they are headed right back to the rewards pool. Therefore, every new member that joins and holds any amount of coins reduces the supply, every long-standing member that adds to their stake (SP), and every new application added to Scorum reduces the overall available supply and increases the price on the exchange. The only way to drop the price of SCR is for members to sell more coins than they earn and it must be more than is being offset due to staking. The conclusion is that the future of Scorum and the overall value of SCR is very bright. If the overall crypto market continues on it's bullish trend and adoption of blockchain technology heats up, then Scorum stands to rapidly increase in value in proportion to the level of adoption that it receives through new memberships.

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