RE: Steem price and low demand - Fix it finally! Solution is waiting
Killing it is a matter of opinion.
Indeed the investors who bought at the top would probably have a different opinion
We have basically dropped back to pre-spike levels. The value of SP paints a slightly different picture than the price of STEEM too. You should check out:
Pre-spike there was no app, barely any developement going, pretty much nobody had heard of steem and people didn't even knew if the system worked as intended.
Now 6 month later, many apps have been built, almost everyone in crypto know about steem, the user base has increased a lot, many many projects have come to life, yet we are back to pre-spike level, do you suggest that's where the price should be right now or? Also how do you expect the platform to grow, the investors to buy if the the rewards on the platform keeps dropping as more users use the site?
The value of SP means nothing. STEEM POWER is STEEM. When steem goes down your steem power value goes down.
You seem to want to make a point that VESTs have gain in value but this is totally not true. VESTs are similar to shares in a company how can shares in a company gain value when the overall value of the company crashed?
Steem is stupid to invest in and only a fool would buy Steem. And Steem Power is only useful if it provides some utility you want. Stop trying to sell to short term speculators and focus on gamification, long term thinking, and you will have better people involved.
Maybe short term speculators are trying to take over Steem by spreading short term profit mindsets and "investor" ideology. Snap out of it.
@snowflake No not at all. I think you have to use gamification to make people want to power up. I also think you need to accept credit card and more traditional banking mechanisms so people can for example subscribe to Steemit.
The reason no one is powering up is because Steemit isn't positioning itself as a company trying to profit from power ups. It's trying to position itself as a sort of non profit. How exactly is Steemit even trying to be profitable?
Just tinging with the parameters is pointless and the fact that they want to parameterize everything to give us the illusion that by manipulating the economy maybe we can fix it? But does that work in any economy where you can just change one parameter and everything fixes?
Demand is non-existent. Maybe if there was demand then reducing the supply could be discussed but when there is no demand then it doesn't make a difference how much inflation you have.
Answering here
That's definetely not the reason. Everything is free in the social media stuff, if you gonna start charging people it's a failed business model from the start. Steemit has an advantage over other in that it actually pays .The reason is that people think that it is not worth it to power up, lose 10% of their investment every year, lock their money for 2 year for what? for merely being able to earn a few pennies through curation rewards.
As i already said steem is a complexe system trying to fix problem that don't exist. The hyperinflation has no purpose at all in the system so does the lock time period, so yeah you can definetely improve things by making them more simple and most importantly more attractive to investors. ( today investors are on the bench)
Inflation + no demand = steem at 0.00001 soon
If there was no demand and no inflation then the price would sustain better.
But ultimately the goal would be to achieve no inflation and demand so that the company ( platform) gain value over time.
Thanks for proving what I have been saying for days. Steem has no investment proposition.
So you expect the money to pay for bloggers will fall from the sky or?
Not true. The spike occurred right after they started paying out, but the site had been running with users on it prior to that.
What you are saying is not entirely correct. You should read: https://steemit.com/technical-analysis/@timcliff/historical-mvest-to-usd-price-chart-steem-power-has-not-lost-value-over-the-long-term
Much of the falling price of STEEM since the spike has been to pay for these things to occur.
Within the next ~2 years I expect that they will have the features of the site built out to the point it is mainstream ready, and at that point they will begin selling advertisements of some sort. At that point there will be a revenue stream flowing in to the economy instead of what we have today which is pretty much everyone taking money out of it.
If you believe that it has gotten to this point, then why are you still wasting your time here?
I know the site has been running prior to that, I said people didn't know if it was working as intended ( if it was paying)
The price of steem didn't fall because rewards were cashed out, rewards are a drop in a bucket compared to what whales have been cashing out and what the hyperinflation is doing.
A few hundreds per day is not gonna make any difference and I doubt any investors will pay more than that with 2000 daily users. Having many ways to burn coins is certainely a good idea to reduce inflation but if you rely on this to pay for the ever increasing user base then you are in for a surprise.
You missed the point. I was just explaining to you why a share in a company can't increase if the overall value of the company decreases which is exactly what happened to steem.
@timcliff Steem has good potential but I don't think the parameters need to be altered. I think they need to hire better UI/UX people, and start adding features. The new features are not coming in at a fast enough pace, and the kind of features which need to come in need to appeal to mainstream psychology. People want to stay in contact with their friends but there is no friends list? There is no groups? There is no private messages? There is no video casting? There is almost no social features which people really want?
So of course there is no demand for Steem Power. Why buy Steem Power when you don't have anything to have power over? Why be a king or super hero in an empty virtual world?
@snowflake and @ned is a whale, the biggest whale, yet he is the guy who has the idea to let people reduce the inflation rate? And what if him and the other whales do that, and also get rid of the 2 year waiting period, and then just dump all their coins?
Their interest to dump may be related to the fact that they have the most to gain by immediately dumping. People who actually bought their way in or worked their way up, might not be so quick to dump because they have more to lose psychologically.
This isn't to say @ned will dump, but he is powering down, and he is the founder. So if he is powering down, it is like Steve Jobs selling his stocks.
So why would anyone value Steem Power if the founders want to power down?