RE: Exchange Transfer Report: 7/30/2017 to 8/5/2017
I was confused about this before but I just realized the reason why the Steem price doesn't plummet. Due to the proportionally large amount of Steem going out the door you'd think that the price would have to drop, but it's not a closed system here. People are hodling and trading the currencies on the exchanges, meaning that the price is being supported out there in the wild due to speculators. Even though Steemit itself puts huge downward price pressure on Steem (for now at least), it still climbs with the rest of the cryptos. Then the question becomes: what happens when those outflows come home to roost? Or at least, what happens when the transfers are close to net zero? I imagine the price would skyrocket then wouldn't it?
Oh, and BTW, my daughter loves the Mastermind game. She hasn't quite got the rules down yet, but with me coaching she does surprisingly well and sticks with it until the board is full. In our most recent game with my help she figured out 3 of the 4 colors and their locations and couldn't quite get the logic down to eliminate that last one. She kept swapping the two end pegs with each other against my coaching lol.
Due to there already being bots present that even out the internal market with the external exchanges, I think we will always have an internal price close to the price seen 'out in the wild'. If the price out there goes up, more SBD and STEEM will be transferred out.
The true price rise is going to come from increased numbers of active accounts. The rewards pool is fixed, so as more and more people join it will get increasingly difficult to earn STEEM and get noticed. People will have to provide some serious quality, or buy their way in. This is where STEEM is going to hit the moon.