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RE: Steem price and low demand - Fix it finally! Solution is waiting
Inflation rate has nothing to do with the attractiveness of Steem Power. If Steem Power were valuable and easy to acquire then people would want it and money would pour in to get it. No excuses, there hasn't been any marketing at all for Steem Power. All marketing has been to extract as much $$$ as possible from Steemit via bloggers or short term speculators so what do you expect ot happen?
You could do all the marketing in the world people still wouldn't buy it. This platform says blog, get paid. It doesn't say blog, buy steem power, get paid. People who use steemit use it because of the "free" money. Only investors could be interested to buy steem power but they don't want to lock their money in something they have no idea how they are gonna make a return.
short term speculators are non existent on this platform, they are excluded, that's the biggest problem.
People buy when it's easy to buy using traditional means, and when there is marketing in place. Marketing isn't in place so people don't even know why they would want to buy, and then if they do want to buy then how do they use their credit card or bank account or Paypal to do it?
Think of how Amazon Prime gets people to subscribe. How is Steemit going to get people to subscribe? Short term speculators are pretty much worthless except for supporting Steem Dollars. If short term speculators were so valuable then Bitshares would be the top crypto platform right now and it's not.
People will only support Steem if it's addictive, provides real utility, and is easy to subscribe to with traditional bank accounts. No Bitcoin, no shadow economy, none of this scam ridden crypto anarchist marketing will work.
Mainstream investors have no interest in crypto. So no matter how much you market, you will never draw them in. And the few you do draw in are only interested in pump and dumps and think of Steem as just another sh*tcoin, so why do you want them here?
True, people will use and support Steem if it's addictive, provides real utility, etc. But the same doesn't work for investing. People will use it but they will not buy shares in in. Only if it's so super-cool than you cannot live without it, then maybe. All opinion here has some validity but my point is do easy improvements first and that's fixing current stupid inflation setting. Then start creating super cool features, then marketing and then there will be millions of new users and thousands of new investors and everyone will be happy and all thing will go mainstream.
Amazon Prime is not a good comparison, people who go on amazon go there to spend money so obviously it's gonna be easier to have them spend money on anything when they have he card in hand already.
Steemit wants to be a social blogging site, social media site are free to use. If steemit starts charging people they start with a huge disadvantage. Steemit has potential because it pays users, something no other social media site does.
You seem to have an issue with speculators but you havn't explained why you think they are bad for steemit. You mentionned pump and dump but I don't see how this is bad for steemit. Traders do their business and content creator do their. Both can coexist very well.
This is so 2012, bitcoin is evolving. I think you havn't been paying attention but circle has partnered apple imessage, bitpay partner with intel, an ETF is coming soon, many big company accept bitcoin, if you think bitcoin is still shadow you've been living under a rock man.
Mainstream investors are going to ask themselves how is this platform sustainable and they will quickly come to the conclusion that in its current set up it is not.
Also good luck trying to convince mainstream investors to buy bitcoin, then buy steem, then power up and lock their investment for 2 year. This my friend aint gonna happen.
Answering here
I am definetely not a whale. I wish.
If we get rid of inflation and lock time period and whales dump it's going to be no different than what is currently happening. I mean the price is already at 0.10$ so there is not much room left to dump, but assume they are going to dump. That means that they are going to get rid of their steem very very cheap and so the distribution will happen much faster, bad actors in the system who only care about the money will be out quickly and steem will quickly find an equilibrum when everyone that wanted to dumped dumped and the price can now rise.
Basically it will accelerate a process that is inevitable regardless of the lock time period.
I agree with that. However as i said you could have the best looking site people still wouldn't pay to use it.( power up ) Every social media site is free, you can't expect people to pay money on it. The whole point of steemit is that they can earn money.
They have nothing to gain by immediately dumping at those prices and I can guarantee you that many whales that are dumping know would actually reconsider if the inflation was reduced and lock time period too, because it will make their stash instantly more valuable, the likelyness of steem price to increase will increase 10 fold, people are not gonna dump at pennies.
Because it is the only way to participate in the system and earn rewards through curation. But the barrier to participate needs to be lowered to basically zero . The facts that founders are powering down is irrelevant.
Whales cannot dump quickly currently. Also, what matters is demand for Steem Power and quality content can be used to increase demand.