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RE: Why STEEM is dropping price during STEEMfest?
But what is the incentive for normies to produce quality content ?
What is the incentive for investors to invest, power up, and make it possible for “normies” to earn posting rewards in the first place?
Without buyers of STEEM, the tokens are worthless. Why should our focus be on those looking to earn a living by dumping the tokens instead of on those buying and holding them? You won’t get more investment if the incentives don’t reward investors and are instead skewed towards those who have no reason whatsoever to buy and hold...or even to not continuously sell.
If nobody can figure that out in this inflationary system, then Steem is done.
IF normies come they create hype, they promote outside... steem increases value...
If they dont we are with tokens that deflate in value... this is a matter of equilibrium like most markets...
BTW most normies I deal with in 3rd wold countryes, the one users that can reap the most benefits of steem sell their tokens outside the exchange markets in local currency to their more rich countyr man so those normies are not dumping steem...
The ones playting in the exchanges are the big boys
You know I have never understood this, I know what you mean when you say "Without buyers of STEEM, the tokens are worthless. Why should our focus be on those looking to earn a living by dumping the tokens instead of on those buying and holding them?" but I don't agree with it. Someone sure is buying or nobody would be dumping, could it be that these instances of the price going down are in reality planned by the really big investors?