You are viewing a single comment's thread from:
RE: Why STEEMIT.COM will Survive, even if STEEM goes to .01 Cents per GABRIEL MARCEL, French Philosopher
The main difference between steem and bitcoin is that bitcoin can be widely adopted even with a low price.
Steem however can't, its price is essential to the adoption of the platform. As I explained here https://steemit.com/steem/@snowflake/there-is-an-easy-way-to-redistribute-power-without-suppressing-the-price-why-not-do-it the price of steem will always go down, and so I am not sure how people expect the platform to grow?
The price of Steem depends on the apps that are built on the blockchain. Steemit just happens to be first and only currently. I know access is locked to the blockchain now so no new apps can join but that will change once a certain stability is reached. Then Steem's price will be powered by the success of all its Apps.
Plus, you're forgetting about the Steem Backed Dollar. If properly managed by the witnesses, it will also support the ecosystem.
Excellent info. @anduweb
full $teem ahead!
You can have hundreds of apps if there is no money in the pool to reward users, people will have no interest to use these apps.
If steem had already reached that critical mass level it would be a different story because big advertisers would probably help increase the price of steem but how do you go from 10 000 users to mainstream adoption with a constantly decreasing price? that's literally impossible and advertisers would never be interested in a niche forum.
How will SBD support the ecosystem?
I'm replying here due to the comments depth limitation.
There are no actual money anywhere. It's perception of steem's value through exhange.
If there are hundreds of apps, I highly doubt so much attention has been given to something worthless in value. With popularity comes recognition and value.
SBD is steem backed. If it's properly managed and draws trust to be used widely (online, in-store payments etc.), it will support steem as it is powered by steem. Can't have one without the other.
You're mentioning advertisers. Don't limit your thinking to Steemit. One might post something on Steemit, earn SBD and then use SteemUber to spend those SBD, or buy a coffee at Starbucks with the SBD earned through a freelance.com steem powered platform.
How do you achieve popularity with an ever decreasing steem price? That was my initial question.
Right now Steem is searching for a balance as it's over-evaluated following the July pump. Until that is found, the price will keep decreasing. Once there, investors will step in, more apps will be developed, popularity will rise.
There's a lot of potential in Steem that is not currently exploited.
PS. There was a question on steemit.chat slightly related to your question. When Steem was worth 4$, why wasn't anyone asking these questions?
People weren't asking these questions because obviously the price was high and the platform healthy.
There was also no data at all to show how the steem market would behave, so Im not sure how people could guess that it was gonna go back to where it came from on a slow downtrend.
Steem will always be on a downtrend, even if there is another pump to $4 it will go the exact same way it just did and I explained why here https://steemit.com/steem/@snowflake/there-is-an-easy-way-to-redistribute-power-without-suppressing-the-price-why-not-do-it
Sure there is a lot of potential but the system is flawed, a gradual increase in price is essential to support the new users but the system is designed to gradually kill the price due to the unlimited growing amount of steem power ( see link)
man, Steemit wasn't healthy at 4 bucks. It was very early and with few features. It still needs more features, even through it's got some in the past 2 months since that 4$ moment.
That's a personal opinion of yours. There's a lot of people around that continue to invest and believe in Steem, Dan & Co.
Steemit at $4 could support a lot more users than it does today. The capacity of the platform went down 100 times in the last month so yeah at $4 it was pretty healthy much more than it is now.
It's not a personal opinion, it's a fact. Whales are mainly responsable to the price suppression, and guess what they all have more steem power than they had when they first started to dump, don't you see the flaw here?