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RE: Steem Price Falls Further... Do We Need A Culture Shift? @Promo-Mentors: Conceptualizing An Education Platform

in #education6 years ago (edited)

Hi URA! I'd like you to explain this part, I think I know what you mean, but not sure?

When it comes to price drops of Steem, I think a big part of the issue is that, by design, Steem guarantees that a percentage of the money used to buy Steem will just 'disappear' into the pockets of witnesses and Steem posters (whales).. So as a 'classic' cryptocurrency that can be relied on to grow in value just due to it being attractive to investors, it is not so great.

Some of these "mechanisms" inherent to the Steem Blockchain have a more positive effect, when the whole context is understood. Particularly This One...

I say more positive, changed from much more LOL

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Yes, the mechanism has a positive purpose, but it needs to be balanced with a thriving social dynamic to be reassuring to investors.

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