You are viewing a single comment's thread from:
RE: Steemit Investors 2017 - Steemit Business Intelligence
Hi Paula. Newbie here. Kindly advise if I am correct in understanding that in order for Steemit to be liquid, it needs people who will put Steem / Steem Power / SBD in the platform and spend it inside the platform? Thank you for making us understand Steemit more.
No, you do no spend it inside the platform, it is invested in Vests and held as an investment. But if everyone cashed out and no one invested then there would be a problem
If nobody cashes out there is no market, for every buyer there must be a seller.
Currently those that influence that the most keep the price at a level they are comfy with.
If it goes back to a dime it can only work out well for the hodlers, presuming that doing so will drive out those willing to gang up for rewards, otherwise it may need to go even lower.
Until the top 10% of authors stop taking a whale's share of the rewards there is no reason for the little guy to invest and use steem as currency.
(Edit)
I get that 9 out of 10 authors cannot be in the top ten percent, and that things have come down at the top, it is a matter of overcoming the tendency to groupthinc, and that may take awhile.