You are viewing a single comment's thread from:
RE: Exchange Transfer Report: 8/21/2016 to 8/27/2016
Do you have any thoughts on the price at which it no longer makes sense to transfer out? What is the intrinsic value of STEEM?
Do you have any thoughts on the price at which it no longer makes sense to transfer out? What is the intrinsic value of STEEM?
Hah, did you just say "intrinsic value"? I thought you were past such silly ideas, Jason. :) From my perspective, nothing has value other than in the moment of exchange. Value is caused by scarcity, supply, and demand. Air is valuable only when you don't have any for your next breath.
I have no idea what the short term will be, but I do expect a lot of volatility. It's possible the price of STEEM fizzles out to pennies and all interest in this platform is lost. Maybe a competitor with better features takes over and everyone looking to disrupt the current social media giants will follow them next.
I think, however, this thing will survive and thrive in time. What I've already seen of the development team over the last month or so really impresses me. I think they will adapt and survive as needed. I just hope enough of the masses care about things like censorship and the benefits of cryptocurrency to make the shift and start posting here. Whether or not that happens will depend on how many of us can convince our friends and acquaintances to joins us here. I'm glad you made it. You're probably my only long term success story so far, though I have my other friends who are interested.
If we do see STEEM valued at pennies, we'll quickly see who's here because they value the decentralisation or have a long term vision.
Edit: By the way, I can't see the price dropping that low before buyers step in.