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RE: Summarized Explanation for the Falling Price of Steem
Thanks for your thoughts which appear to make great sense and signal the demise of this great experiment...hoping that that the leaders, evangelizers, will comment here to give the obverse view on how this wonderful experiment will be breathed new life.
There is only one possibility - attracting investment. Whether by offering something unique available only in exchange for Steem (e.g. selling our articles to be legally republished elsewhere or offering nuclear weapons), plastering horrible advertising over the site or changing Steemit's model (i.e. reduce or stop printing Steem), there's nothing else that can be done.
Or simply reduce the inflation rate from 300% to 10% per year. That would attract a lot of traders/ speculators.
Without a healthy market you have nothing.
Or stop printing Steem altogether. There are 300mln units already, if I'm not mistaken, which is certainly enough for a network of 100 thousand people (of which only 10k are active).