You are viewing a single comment's thread from:
RE: Steem 2.0 is coming like a big wave and if you can read this you're gonna catch it.
Maybe i understand steemit worng, but we are all creating money out of thin air here right? there are no ads or anything that bring in money. So the only way people can make money is if new people buy into steem. The fact that everybody is basically printing money here leads to the fact that people are constantly withdrawing money....so as long as people withdraw money the value of steem is getting lower...you need way more moneys coming in than you have money being withdrawn in order for steem to go up. Am i mistaken?
That’s definitely something to think about. I have also my little worries, but more concerning the community and the motivations. In a previous comment, I wrote:
Sounds great! Please, don’t get me wrong: I’m new here and I like the active community and especially the project, as I like bitShares and EOS, and hope all of them will succeed. But, there is also this weird side to the community, which for non-steemians might look a little too sectarian and profit driven - posts, comments and upvotes often don’t make sense and don’t add value, and it seems like everybody is for himself trying to figure out how to make the quick buck. I worry, that if this will continue, it will eventually destroy the great project itself, as there will be no incentive for others to try to compete in this complicated reward system. Hopefully won’t happen. Go Steem 2.0!
I agree...im no fan of all these voting bots
Yes, and no. When people withdraw money, I think you mean they are selling their Steem, and this does produce downward pressure on the price. We don't create Steem when we post. New Steem is created through inflation, not any kind of mining, anymore.
As long as Steemit creates more users of Steem than are able to be satisfied by the amount of inflation, the price is pushed upwards, in theory.
Also, as people power up, or just buy Steem for HODL, the price is pushed up.
The competing pressures create the price of Steem, and it's been pretty stable around a dollar lately. That's the basics of it, and why Steemit 2.0 is likely to see the price skyrocket.