RE: Little reflection on the current shape of Steem
I am thinking that a lul in the price of steem has unique effects on a community based currency. For the folks smart enough to build a stake and followers enough to produce a healthy income, this income being deflated so much is going to cause distraction. Best case, people actually increase their stake with the bargain STEEM prices. Probable case is they hodl their stake and diversify into other currencies that are performing better, and focus on real life projects knowing it will come back. Worse case is the big folks powerdown lots of STEEM and move onto the next challenge.
With community-based currencies, we are rather unique and just feel it a little more in down times I suppose. Looking for an incredible boost at some point in the bull run. People know about crypto now and often are skipping right past Bitcoin and looking at alts. When normies find STEEM, see that they can facebook for money, and discover all of the DAPPS and soon to come SMTs, this is going to be a place to start and not just a coin to buy.
My thoughts anyhow. My strategy is to keep on keeping on and remember these sobering times when the FOMO silliness settles in this community again.
Now these are interesting thoughts, thanks for sharing them with us Zeke. Let´s hope for the best (or at least the probable) scenario and "keep on keeping on"! :) Btw I like the "facebook for money" term, I need to start using it when promoting Steemit to my friends, thanks!
I do have to temper that with mentioning that it takes content AND networking to get paid anything substantial but yah! Every time I see a good facebook post I think of what a waste it is to donate all the profits to Zuckerdouche.
Exactly :))
Haha everyone waits for the FOMO silliness to come back :D Let's see if it happens or not :)