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RE: STEEM is Tanking while BTC is Soaring! Where did we go wrong!

in #steem4 years ago

I consider it temporary only. Steem still has a significant market cap, and the networking effect can and will work on the community's behalf.

While it's hard even for me, I know that we should be patient.

Also consider that Bitcoin barely has any value beyond being "the first" and being accepted. It'll collapse one day, I'm sure about that. It being worth almost five thousand bucks is utter bullshit even for me.

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Some of the things you have to take into consideration is that Steem is infinite, and the inflation rate is extremely high, plus, a lot of people accumulate it, then dump it for something else, so it is as if it is always being used to buy something else.

Very few people actually power-it-up like they should, plus Steemit has a whale problem, which makes it very difficult to keep new active users here on the platform, and the latest statistics show only around 36,000 active daily users, and half being bots, which is pretty dismal for a platform that is over a year old.

If people keep it, then how can it inflate? Intuitively, that'd mean that its value is increasing, not decreasing. You won't accumulate something with no value.

Bots are indeed an issue, I'm saying that constantly, so I agree on that, as well as I agree on whales but I really don't know what to do about either. I still keep up my opinion that Steem holds more value than Bitcoin, because it has some valuable objects associated to its amounts.