RE: STEEM Dollar has collapsed under USD 1$ 📉 📉 📉
The market does have some effect on it yes. Investors know bitcoin so the rise and fall of bitcoin affects other cryptocurrencies more than it should.
A couple of other things have factored in;
Steemit has experienced EXPLOSIVE growth. Unfortunately the majority of that growth has been low value users trying to "get rich" and posting copy-pasted content or low-value posts like "upvote-for-upvote". This is not good for the growth of community value and has caused many of the quality content producers to slow down their own posting and voting.
HF19 "Equality" has taken HUGE bites out of the voting pool! Where a minnow used to be able to cast 40 $0.01 votes a day, she can now only cast 10 or 11 $0.02 votes or 20 every 2 days. This has significantly reduced the number of upvotes on posts and comments!
TROLLS!
It only takes two or three people willing to invest $5,000 in their Steemit accounts to ruin the experience for hard working bloggers that are trying to earn our dimes.
I believe Steemit has the opportunity to be something greater than bitcoin because instead of being an arbitrary currency that only exists because it's users agree it has value, Steemit actually provides a REAL PRODUCT on which the value is based. I hope to see a growth in value in the near future.
Hopefully that wasn't too negative ... just my 2 cents
That's not at all negative @timeshiftarts. Thanks a lot for providing such a great input. All your points are valid and makes sense. I am sure with people like you this community is going to get better over time and the shortcoming we are seeing currently will be curbed gradually.
Love your response here. And I agree with you a decent amount.
Steemit has to figure out how to govern the Rich Whales down to the Lowly Minnows better. But, as they says, come for the money, stay for the community, which is essentially want turned me from pure investor in STEEM to actually participating.
Steemit really feels like the social network of the late 1990's (i.e. LiveJournal) with few features, low-fi look and feel, and a small community of passionate individuals. Honestly it's refreshing from the complicated mess that has become our standard social media services.
Hey @gamerveda, thanks a lot for extending the inputs provided by @timeshiftarts.
Coming to the points you guys have mentioned
Steemit has got good potential and even I feel that down the line it will emerge as a highly valuable crypto currency as it is backed by very good concept. Let's see what happens. We will be in a good profit if it rises. Fingers crossed! :-)