Being "Steemlivertwists"- Did we all Kill the Price of Steem as Users?

Being "Steemlivertwists"- Did we all Kill the Price of Steem as Users?

By captainphilips | The Lion Strategy | 29 Mar 2019


 

_**Human wants and needs are insatiable, therefore we all have that burning tendency to always want more at all cost...**_

 

Steem Users, Steemians had the taste of a good and working platform when Steem was above a Dollar, sadly that was way over year ago or more, chances are those good days are not coming back anytime soon.


Steem drops in price way faster during a market pull like other tokens but fail to gain in price with the same momentum in which it drop in price.


Have you ever considered if that epic price of Steem falling was actually partly our faults as Steem users?


The earliest active adopters stole the show, some where benevolents enough while some became extremely greedy, hence a lot of means to selfishly acquire more Steem for themselves were created.

 

Just from one Reward Pool, dozens of upvote services were draining rewards meant for everyone to a handful of people who could afford to pay for it, thereby destroying the original protocol for the platform. It was designed to reward each users based on the effort of their contents by other users with enough vested stakes.


Upvote services and vote selling made organic rewards (votes) become sacred therefore everyone seem to turn to this services because it feels like compensating Oneself for the time and effort spent.


What is your long term objective of wanting more Upvotes/Payout? Are you disappointed about your take home and just want more and more of it without minding if others gets or not or you want to increase your stake by reinvesting your payouts. Most rewards after payout are cashed out leaving too many Steem in circulation, applying the laws of demand and supply to a commodity (Steem Token in this scenario), we all know what that does to price, from basic economics perspective.


Using this services are super cool, its a means of creating a working economy for Steem/SBD, but it's all right on the Blockchain and not off the chain. Considering the number of active users in relative to the amount of Token been used which is way smaller than Bitcoin users or let's assume Cardano users a token less popular than Bitcoin but gaining prominence over Steem with all its fantastic characteristics.

 

In other words, Upvote service never impacts real life economy of Steem off the Chain (On exchanges and in stores), so getting more and more in rewards from these services drains the rewardpool and add no value to Steem price off the platform.


Do you see how we are strangling the price of Steem? Most people who utilizes this services knows the effect but then the human insatiable habits is always there.


Earning votes and not buying them was the initial design of the platform if am correct, earning little organically keep limited Tokens in circulation, hence inflation in price is guaranteed.

 

Take note, the volume being Traded on exchanges is different from the tokens been dished out in form of upvotes, keeping personal liquid Steem in wallets is also different from being traded on several exchanges.

 


Mass adoption also helps the price of a token, but with a million registered users and less than a quarter of that number manages to use the Token on daily basis, then where is the mass adoption?

 

Other factors affects the prices of a particular Cryptocurrency, but in my findings, these glaring observations speaks bad for every avivd Steem user, cashing out isn't a capital offense, but without real working economy for a Token, big investors will evade such a Crypto, and in one way or another we all have helped contribute to that.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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captainphilips
captainphilips

I am bachelor from West Africa, having Strong passion about securing the Country's Digital,Mineral Resources and Energy future by helping Ideas and businesses to transform using the Blockchain Technology is my core task.


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