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RE: Poll: Does Steemit Content Influence the Price of Steem?
My instinct is to say No, because most cryptocurrencies are controlled by speculators.
However, there is selling pressure from the "top authors" who are cashing out, especially if they earn large amounts. The authors who earn about $0.04 don't cash out, so if thousands of minnows were rewarded with a few cents and no-one got over $10, you would see the selling pressure drop.
That's a good point and especially valid, because almost no one else but Steems use the currency, at the moment.
I've actually discussed the curation and reward distribution and offered a solution.