This is true but we are also a high inflation coin so it is not surprising that we drop faster when times are bad as holding is not enough. Steem tends to recover faster when times are good also.
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This is true but we are also a high inflation coin so it is not surprising that we drop faster when times are bad as holding is not enough. Steem tends to recover faster when times are good also.
I don't think the inflation rate has a big influence on the STEEM price yet. It's "only" about 2x of the inflation rate of bitcoin.
I'd say speculation has a bigger influence.
STEEM also doesn't seem to recover faster than other cryptocurrencies neither. Certainly it has not been a better investment compared to bitcoin. Except for the big rise in 2016, bitcoin would have been a better investment.
https://coinmarketcap.com/currencies/steem/#charts
Having said that, I'd still hold on to my STEEM. It is still the most undervalued crypto out there, IMHO.
Hmm. It is difficult to compare inflation to small users vs bitcoin mining by large corporate entities. Small users are likely to sell their earnings to pay for things where are larger users are more likely to keep them invested. That said with bitcoin close to the required power price levels for mining perhaps they will be dumping most of their coins to cover costs as well. And the majority of seem inflation is quite consolidated in a few hands; so it is difficult to tell.
Agreed.
Oddly enough bitcoin miners likely have to sell their mining rewards to cover electricity costs, while someone "mining STEEM" only is investing time or contributing "proof of brain".
Still, the perception is that mining STEEM is less valuable.
A fallacy!
Comparable to the 'broken window fallacy', IMHO.
Yes true. Time will tell if it get to that value or fades away .