No I will not power down unless we hit some crazy high number. Steemit has only begun! Less than 6 months old and its growing rapidly. We can easily hit a the $4 again with the Steem inflation only 9% a year.
No I will not power down unless we hit some crazy high number. Steemit has only begun! Less than 6 months old and its growing rapidly. We can easily hit a the $4 again with the Steem inflation only 9% a year.
Inasmuch as money supply effects price, the only inflation that matters is the inflation of liquid steem (the steem that people can actually buy and sell). The inflation of SP that they are curtailing effects that indirectly, but for at least a year or so, we are actually going to see more liquid steem on the market than we would otherwise, not less.
How much more depends on how many people hold vs power down. If everyone powering down at the old rate switches over and does so at the old rate, it will be a very significant amount more.
So there's a ton more steem on the market, and demand is stunted by declining quality of content, and the fact that we just defaulted on our obligations to SP holders.
im all for optimism, but what many people don't seem to get is that unjustified optimism hurts the platform.
you are are right but after steemfest I tend to believe that there is a chance for steem. the price going up aagin to the mmon is not gooth either