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RE: Steem based Tokens Trading Now - Steem Engine Tokens
Interesting that the Korean community is so strong here! It really is a section of steem that is invisible to many just because we can't read Korean.
I'm Chris about how this token thing will play out... It is clear that people are following the course of the wider crypto ecosystem and not realising that there needs to be a reason for economic value... And that reason is in the hands of the buyers not the sellers and not the creators!
It seems like the filters are working as they should since communities that are not really relevant for us stay out of our way. However, what it also tells me is when Steemit makes a decision, if they don't have the Koreans on board it will be a very dangerous split. I wonder what would happen to the value if they just left? I mean it could potentially happen. SMTs will make this kind of stuff really easy.
The buyers are definitely the people who determine the value. The sellers can control supply, but generally from what I've noticed so far everything on that website is way overvalued. They did recently add more decimal places. The minimum sell value used to be 0.001 or 1/1000 which was way too high. I'm not certain how many more they added, but hopefully we see the total volume increase soon.