You are viewing a single comment's thread from:
RE: Feeding the minnows again...
Still trying to figure out what drives the steem price down, more people powering down and giving more supply?
Still trying to figure out what drives the steem price down, more people powering down and giving more supply?
I think there is just a bit of a race to lock in some gains for those that have powered down. I'm sure there will be a time when they power up some of the powered down funds especially when there is a perceived profit on a dip like the one we have been experiencing. Also there are many that do not power up and cash out of their SBD which takes money out of the Steemit ecosystem. This can only work if the ebb and flow is equalized long term. Currently, it's almost 4:1 in the outflow favor.
Yeah, I'm not really sure. I think it's a combination of more people having more and powering down, but also the fact that Steemit is really the only place it's used for so far. Once there are more use-cases for it, the value will recover even more. But I'm expert.