RE: Steem price and low demand - Fix it finally! Solution is waiting
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.
Not true. The spike occurred right after they started paying out, but the site had been running with users on it prior to that.
The value of SP means nothing. STEEM POWER is STEEM. When steem goes down your steem power value goes down.
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
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
Much of the falling price of STEEM since the spike has been to pay for these things to occur.
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?
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.
the overall value of the company crashed
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?