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RE: Why is Steem market cap bombing while Bitcoin and others fly ever higher?
Hey Will, very interesting thoughts and questions!
Here is my take:
- 1st I wouldn't call a 7% slide a "market cap bombing", especially not with the volatility that is currently inherent in the crypto space
- 2nd short term fluctuations shouldn't be THAT important if you believe in the long term prospect of a certain project
- 3rd VERY good point regarding powering up minnows a bit more, the current design of steem is definitely highly screwed towards power of whales, which can be financially exploited without adding "QUALITY" to the network
Cheers!
hey - great post!
I bought at $2 so I am down 35% while the rest of crypto is reaching new highs daily. I agree with you regarding having a more long-term view and I do still believe but I also like to see my investment growing at some point! Glad you agree with my ideas around helping minnows! Be well! ;-)