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RE: The reason of steem losing its value
Wow ! you cleared my doubts for sure , I got many comments disagreeing with my opinion but no one explained me why was I wrong! Thank you for providing such insight. Can you tell me the control mechanism that discover such behavior , I am new to this community so don't know much about it.
Then what do you think the reason for fall of steem price?
Like I said, Steem has problems on the market places. They didn't offer Steem for a while and it s all strange and confusing what is going on there. Needs technical improvement in Bittrex and Poloniex. Then there are big users selling Steem by powering down. Whenever that happens it is quite a bit of Steem and the price drops since there is not sooo much trading with Steem going on right now. And then there is Shapeshift.io that service that changes one currency into another. It used to support Steem but recently took it off for unknow reasons. Many things coming together. But don't worry, the price will go up as soon as the new updates for Steemit are coming with the new UX/UI and then there will be a multi million Dollar marketing campaign as well.
The mechanisms are plenty: @cheetah, then there is a bot called Steemitwatch or so. Then there are users who hunt people abusing the platoform and write posts about it. Then whales often come and downvote that content. I don't know much about these mechanics in detail but since everything is transparent and public nobody can hide what they do. They try and it is sometimes difficult to discover but eventually somebody finds out and does something about it.