Opinion Outpost: Why do you think the value of Steem decreased?
The Steemit platform is powered by a crypto currency called Steem. Just like other social news platform like Reddit and Hacker news, users in Steemit create and curate content and get rewarded for their work with steem.
We all know that the value of steem has been decreasing but do you know why? With the falling steem price, it's quite easy to encounter a number of Steemit users raising concerns about it as it is really causing problems for the authors because rewards on their posts are decreasing.
Who wouldn't get frustrated to get little rewards after a hard work of creating a good content?
Some have said that because a lot of people started selling their steem after little decrease in its value, it created a further downward pressure on the value of steem.
But I think it's more because of the people who are only in it for the money and who cash out without reinvesting and you can tell that these are the same as the ones who are powering down.
In addition, some new steemians, and I guess some old steemians as well, are also a thing to consider about the decrease in the value of steem. I say some, not all and there are three kinds of these people.
People who think they can get rich real quick.
You have to admit that when you found steemit, you found opportunity and thought you can get rich in the platform. With the same thought in mind, many users only cared about the rewards and not the value on their contents and it affected the community that some thought of Steemit as broke.People who bring value but can't help steem grow.
There are a few authors who bring of something value to the community but cash out too often and almost all of them do not understand how they can help steem grow.People who bring value and reinvest back to the platform.
Although there are some who do not reinvest, there are still a tiny number of steemians who give at least 50% of the value back to the community.
Some speculations of why steem experienced further downward pressure was because when it's value is starting to fall, many Steemit users desperately tried to sell their SBD holdings while the price was still not too low.
I don't know. These are just speculations and you probably can tell me your opinion on the comments section below.
Part of it would be sell offs from people looking for quick money. Whales who just delegate and sell. Currently I would say that they all get their value from the perception of bitcoin on any given day.
In the long term though the value should reflect its uses so coins like steem have a big advantage going forward. So now is the time to be powering up accounts looking at the long term picture.
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True. Some authors have said the same thing and I've seen many who invested and bought steem to power their accounts.
Well I think that this might be the best chance a person has to buy more steem if that is their plan. You can still earn it organically but it's easier when you already have some and if the value rises it will be profitable regardless.
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Yes it's easier when you already have some or if you can invest some but it's fine to earn it organically. However, it'll be a long run as the steem's value has been decreasing on and off.
Like other authors say, it's a good opportunity to invest and buy some steem. I hope it'll get higher before the month ends. I think the Steemit platform has to have a 'make-over' of what has to be in it, some restrictions (programmed) to avoid abuse and unnecessary actions and postings in the platform.
The apps built on steem can help raising the value of steem, yes, but It would have probably been better if the Steemit platform itself has some feature updates as well. I mean, it's still a beta so the anticipations are everywhere.
I think in the long run that most people won't be using steemit as a site itself. I see most people logging in through a separate interface as steemit gets blocked up with more posts from the different applications. What you will have is an interface like steempeak where you can filter out a lot of these posts and focus on the areas that you actually want.
Everthing I'm looking at is long term though 3 - 5 years. There are a lot of improvement that can be made to steemit I'm just not sure if they will be needed.
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