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RE: price of STEEM
Things may stabilise (or turn) in the next month or two when the first batch of "13 Week Power Down sellers" run out of Steem (pun intended).
I wouldn't count on that happening. After this month, the Steemit, Inc. team will no longer be bound by their word to not power down and sell their stake. They are, by a large proportion, the largest group of stakeholders on the platform.
Not saying that they will sell - only that they will certainly not be prevented any longer from powering down and doing so. I wouldn't be surprised if they do it.
Sure, it certainly wouldn't be unreasonable to expect them to sell some of their stake in the coming months. I don't expect a complete sell off but who knows...
Them selling would simply mean a prolonged buyers market and dirt cheap Steem. Someone will pick them coins up for sure. I certainly have BTC ready to scoop up some more should certain thresholds be breached. The tech alone is too strong for Steem to fall completely off the map anytime soon.
I know Steemit is the buzz at the moment however I believe payment processing apps that leverage Steem's zero transaction fees and two second block times could be the secret sauce that makes the coin take off. Particularly if it is seemlessly baked into a social media platform(s). That's just one use case.
Steem has a great story to tell beyond Steemit; which is a good story in itself. People in Crypto tend to buy into coins with great stories only when they are being pumped. They forget the 'story' and fundamentals are still there in the bear market, and miss out on the real opportunities to profit. Not that I'm advising people to buy. You need to have a high risk tolerance to put significant funds into any crypto. However I'd caution against over-pessimism simply because the price is being suppressed over a prolonged period.
This is very interesting. I guess it's either a gambler's market or a believer's faith. Considering everything, I don't think STEEM will lose steam. Not sure how long it would take for it to become something, though.
Who is Steemit, Inc.? Who makes up the team?
So, if I got this right, very shortly they would be able to sell their STEEM?
Who bound them in the first place not to sell?
Co-founders are @ned and @dantheman, and there is a team of around 10 devs now. They bound themselves not to sell when the big change in the economics of the platform was implemented with Hardfork 16, in December last year. The most important change at that time was shortening the power down period from 104 weekly payments to just 13. You can find more info in the roadmap (which is a must have reading if you plan to invest here, either time or money).