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RE: Can STEEM ever become a reserve currency?
Ok that's a fair point! But then isn't that maybe also one of the potential main reasons why the crypto markets are tanking generally?! And yes, that also underlines that the sky-high prices were driven by speculation primarily.
Absolutely.
I guess there's only so much speculative capital that can flow
As long as you have winners the capital will come, same concept as gambling.
where does that lead in a longer term? And how could such scenarios play out inside of the steem-economy with SMTs?!
There is one concept that crypto and the free market re-introduced to us which is to take responsability for our actions. I think it's a good thing.
That's an interesting way of looking at it actually. I hadn't seen this before, but it does make sense to me!
The responsibility is an interesting aspect, too. Because I guess that's what I feel is lacking a bit in this landscape. It's not a secret that many players go out of their way to avoid accountability for how they use their stake.