You think steemit is dead because of the price drop? Just trying to understand your point of view of this platform being dead. I'm still optimistic about here but please elaborate more if you may, if not all fine, cheers!
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The price didn't just drop, its been plummeting now for over a week, not hard to see where the trend is going. This place is a casino, and everyone knows it. You reap what you sow.
I think it will not go up in price until the whales have sold everything... They are selling no matter what price... and they have another 100 or so weeks to go... So no investor will be entering until the price is not below dogecoin level...
I think it would have been in the best interest of the whales to not sell for a while... doing a gentleman agreement, until the price stabilizes at a higher level... but then there is this game theory aspect.... and in the end everyone is dumping all they can... I think investors will wait until it is at a 15 mil valuation... and then slowly enter...
The problem is that this slows growth of rewards, and so the users will have less incentives to sign-up and write articles...