Each time I try to call a bottom, it drops 50%.  

Now I know Steem was massively overpriced a couple months ago but this is a never ending decline into the abyss

It is just dump after dump after dump. At this rate we will be in the satoshi area by Thanksgiving.

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I'm curious tho. Is this the development teams plan?

Hear me out-

So we all know that the SP distribution is completely out of wack. It's all in the whales hands, the big investors and since inception of steemit, everyone who has been on the site would know the "average" person has little-to-no power. 

This makes bringing your friends from other social sites kind of pointless. Even if you have a massive Youtube following or facebook crowd, it really doesn't matter because there votes don't matter. Only the whales matter! In order to get power to the common people, there had to be something done.

A couple months ago, I saw some trending posts with some massive payouts in the multiple thousands call for all the whales to sell as much as they can. This has been happening relentlessly, but these same people who called for it as now scared that the price has dipped too low. 

But has it gone too low?

With the current steem price, any new person joining that starts posting and earning any reward will also be gaining a significant amount of Steem Power. Even though the posting only makes $10 it will obtain $5 worth of Steem Power at (currrently 10-15 cents) apiece. With the curation groups hitting alot of the new users, I would like to believe that it is much easy now to get rewards and noticed than it was 2months, or even 1month ago.

And realistically, 1post shouldn't have recieved multiple thousands in the first place. I got 1,400 on 1post and was estatic but I knew I wouldn't last. When a post recieves $100 I think that is more reasonable. Even with the price as low as it is, there are still decent payouts.

Comon, how many of you really believed $5,000 blog posts were a thing of the future? I hope you found counceling, because thats insane. Especially without any advertising revenue.

With my current belief that Steemit will rebound into atleast the $0.25-$0.50 range, the site could easily flourish. But I also feel that If the price stays low enough for a relavent period of time, there is a much greater re-distribution of Steem Power. So when the price does rebound, there will be a larger % of the voters that provide rewards.

While I don't believe Steem will reach the satoshi area, I have been enjoying the low prices because I am gathering Steem Power fairly quickly now. I realized that there is currently a large interest rate on steem that won't last forever, so the more I have will have for when this rebound happens.

I am also prepared to go down with the ship :)

I had fun, I made money, and overall I explored myself and socially presented it. In my attempt to "do my part" I have been powering up and will continue to do so until the doors close or I die, which ever comes first.

God Speed and Steem-on

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Thank you for reading and comments are always welcomed.

Consider following me @generation.easy

Feel free to contribute to my goal of becoming a dolphin as this is a 100%SP posting