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RE: Steemit's economy is falling down
Steemit never had a economy in the first place. It was a gambling website where randomness came from a few individual's whim. This post might give u picture why so many people were disheartened after putting so much of effort - https://steemit.com/steemit/@moonguy/steemit-wonder-comments
This website works with money, therefore, it has to be with economy. No matter how this started, this website has to deal with cryptocurrencies' market