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RE: Stopit Steemit
My thought was that the cultural community could create the necessary consensus. But all the so called business that just adds another layer of abuse is making it hard to create the sense of justice that is necessary.
Well, may be community related trends, as well as technical developements, have some influence on the Steem price. The faith of the community into the future of the Steem blockchain and the Steemit platform play into that. However, the "value finding" happens at the exchanges, based on the actual trading of Steem. Its like the trading with stocks - sometimes a stock is rising even if the company is crap, or vice versa. Its a lot of speculation behind it all. And the good old "I'll be rich one day!"
That is obviously right, but the long time hope is that real value could be established. Depending on investors have been one of the main reasons cryptomoney has flourished, but also one of its greatest weaknesses.