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RE: Let's turn the Steem Price around
“When you have some steem on your account don't use this steem to buy tokens, splinterland cards or other cryptos. The only valid thing to do is to power up.”
- I don’t agree on this other than powering up, since cryptos are meant to be spend. If we don’t spend it, we will defeat its purpose. The amount of spend tokens should be offset by onboarding new members who keep contributing to the platform, thus will buy more, hodl more and give more value.
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Hi @guruvaj,
Thanks a lot for your comment. What you write is very interesting:
Money is also there to be spent but people also save it. The important factor is the speed at which it is spend. The faster you spend a currency, the more you participate in devaluating it. At the moment people tend to use the steem as soon as they have it. Like that they increase the circulation speed and fire the inflation. What we should do is change our behaviour. Let's say instead of using all the steem that we get immediately. We power up 50% of it.
Best regards,
Achim
To add:
One of selling point of steem is:
-in steem, you will earn cryptos in the cheapest and safest way.
Therefore, these people who entered steem for money, needs to compensate for their efforts.
More mature steem users, do powerups, and buy more steem.
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