Will We Not See More Sellers Than Buyers On STEEM? And The Price Going Down?
I have been looking to STEEM and wondering what will happen... And lets be clear, im not in any shape or form an "expert" in analyzing a chart.
I have been seeing some people saying the price will go up, but a few things are making me think otherwise. Lets see some points.
1# People are suspicious about Steemit.com
Not in the sense of believing this is some kind of scam, but if this will or not go far enough. I will not put money in something i don't know.
2# Those that make money will sell immediately for BTC or Fiat
If you get money from your posts, you will definitely trade your STEEM. I don't see a lot of us keeping it.
3# There is no practical use for STEAM like in bitcoin
You can't buy stuff, or trade for something. Normal people have no incentive to keep their STEEM. Even if Steemit go viral, everyone will try to sell if there is no reason to keep it.
How can STEEM go up? I don't see how...
STEEM doesn't run the risk to devalue for a while? Please tell me if and how i'm wrong...
Steem power heavily incentivizes you to keep your Steem,as you make money holding it.90 percent of the revards go to SP holders. And people are always supicious about stuff in the beginning.The growth of Steemit and steem wil be made first by the opportunists,or the optimists.The others will come along.
Ok, but still to make STEEM go up, you need more people buying than selling. At least for now, everyone will sell their STEEM to get the money. Maybe i'm not looking to things in the right way...
Do you have statistics to show that everyone is selling?I´m skeptical to your claim. I myself want to buy,I just need to get some Bitcoin wallet.
First of all, i did not said everyone is selling... Second, i'm too skeptical to your claims... Relax man, i just wanted to know more opinions on this matter. Im not saying this will or not work...
The way I see it, Steem's value is measured in social media reach. Someone would buy Steem to give them more exposure on this site and the potential to earn more money. But I share your concern, if the site isnt popular enough to encourage buying steem, there will be a sell-off until the price collapses and everyone holding Steem Power will lose their money.
Exactly...
I agree with @kooshikoo, a large portion of reward money goes into Steem Power which takes 2 years to withdraw. Regarding "3# There is no practical use for STEAM like in bitcoin", We will see more opportunity for Steem commerce soon. You can buy beads from @craig-grant with Steem. I've even seen someone selling their automobile for Steem. There will be more soon.
Businesses are already starting to accept steem. https://steemit.com/food/@knozaki2015/first-coffeeshop-in-the-world-to-accepting-steem-please-welcome-einstein-kaffee-bistro-potsdam-germany
I guess it's a good start!