The value of Ethereum skyrocketed out of control in the wake of ERC20 tech. development adds value to a network.
In order for the price of Steem to fall coins need to be dumped on the exchanges. Explain how liquidity gets dumped on the exchanges due to SMTs or other tokens being bought. It doesn't. They are completely separate.
Until ICOs dumped the price to 87 dollars. One of them being EOS.
LOL cmon man Ethereum was worth 50 cents a coin when the first ERC-20 token came out just 4 years ago. The idea that you could leech value from a network by building on it and bringing value to it is ridiculous.
Its not an idea, its a fact. If you have more coins then money is spread out. Less coins means money is less spread out. One coin and everyone owns that one coin.
What you've just described is Bitcoin maximalism, and it is very obviously false.
I hope you aren't making any financial decisions based on this gross misinformation. You're really oversimplifying the global economy down to one small variable here.
You don't have a good grasp of liquidity pairings or network effect.
To claim that anything is a "fact" in a sea of unknown variables is a red flag indicator of how ignorant your statements are.
Hopefully these words don't offend you too much, but you have a lot to learn. I bet you think the same about me, which is true. The difference is I actually admit it and I try to learn more every day while most other people just think they've got it all figured out and there's not more work left to do.
I'm not a Maximalist, I am stating a view basic truth. I am currently expecting a deep dive in price at this point. See you at 10 cents soon enough...