On Jul 13, 2016 Steem was at $4.93. Since then it has been around a $1 (give or take). We keep hearing about the thousands and thousands of new members signing up each day yet the price is lower than it was in 2016 when the user base on Steemit was so much lower. Demand normally makes price go up not down. Gold, Bitcoin, Silver etc have value because they are rare, the way Steem is created and is so easily obtained (by Whales) devalues it in a massive way.
Also the 50% that goes into Steem power can be powered down and then sold.
This sounds like I'm complaing about Steemit, but I really like the platform. It's a great place to talk about crypto and get rewarded. I just think its bad advice when people are peddling Steem as being worth upwards of $100 in the future, this simply will not be the case.
I agree with you! but unfortunately people power down! then count all the people that are inactive and didn't invest steem! do that then add to the real active users that doesnt strip rewards and you will see we are in the few thousands and few thousands are making the price worth a 1 dollar or so...that's not bad
all thanks goes to the whales holding millions and delegating millions ...and curating by the hundreds ...if it weren't for them...there wouldn't be something called steem as it would have shorted a long time ago
even if big whales decide to power down everything you can still blog and still vote and do practically eveything else if you don't care about money...eventually someone will be interested and will invest money in it and so the price would go up again and that is how whales were made
Steemit can go bear market for ever and never crash lol