I won't disagree that we need a cultural shift, but I think it might be on a different area.
Passive Investors = Healthy Economy = Bag Holders = Established Floor Valuation
To me the cultural change must come more from the users of Steem. The short term thinking to me is the biggest challenge we have to overcome as a community.
We have an ecosystem where having more than 500 Steem Power on a wallet means you belong to the 1% of its population. Does that not say something to us?
I mean, specially when we know that reputations above 57, 58 would have easily made more than that with their postings.
So in my opinion, and probably my own alone. People are killing the chicken before the adult feathers come out, and then complain they've never had a decent meal.
There is a short term reality that barely anyone will make any serious money on Steem right now and with the low Steem price that helps insure even fewer people will make any serious money now.
I do believe patience is a virtue but I would like to see a higher Steem price now and to do that I think we would need to be friendlier towards investors.
If the Steem blockchain does not seize the bull by the horns now it does more to risk a complete collapse where all of our accounts will be completely worthless.
Yes, point taken... but I happen to believe this graph explains a lot...
nice
Yes but it is worth noting that most businesses fail and most blockchains could fail. If a cryto fails the HODLers lose all their money no matter what price point they buy at.
I love the bottoms, and we may not even be there yet, in fact I don't think we are. The thing that shocks me is the panic in the cyclical drop in value right now and the people that are long this platform freaking out. The more it drops, the more steem power people that stay diligent on the platform get compensated. What is wrong with that? When I plan on selling my stake is when I will care what the price is, until then I root for it to keep dropping, not by spreading lies and doing that kind of BS, but being out in the open about liking the idea of accumulating. We all have confirmation bias, that is nature, but we need to put that on the shelf and disassociate the steem price in US Dollars and the value of ongoing work on here. I totally agree by the way there need to be marketing concepts come up with on here that need to spur brand awareness, creating brand loyalty and acceptance, leading to brand investment. I commented at length on here if you go down a bit. Well put @meno love the commentary sir!
Brilliantly put my friend... could not have said it better.
http://www.tetherreport.com/
This explains more than that.
Despondency will happen when the hammer falls on tether.
omg @meno, you killed it with this line!
:D !
hhahahahh glad you got a kick out of it.
Most are probably just not delusional and don't want to power up in a system where you're eating the same inflation pie that ninja miners are feasting on.
I get your point, but it also fails to consider something very important.
Please excuse me for the lesson history, specially if you know this already.
There was a terrible decision made by Steemit Inc in one of the hard forks, the people who held Steem at that time saw their currency get devalued like crazy as inflation was turned up to 11 (pop movie reference)
At that time many of the ninja miners dumped, most of them did actually, because the currency went from being upwards of 4 USD to seven cents. Keeping in mind that the 4 USD was with a way higher BTC valuation, meaning that the equivalent today would be like seeing a Steem at idk 40, 50 bucks.. it's really that ugly.
At seven cents the dumps where disgusting, and the evidence for this can be found for those who would like to explore.
Those who held through those times, those who kept engaged deserve a certain level of credit for doing so. Hence why the ninja mine argument to me does not weigh as heavily as it used to prior to this event. I don't dismiss it completely, but I'm not willing to say the strongest of hands have no merit.
On your point about being delusional or not. Idk, I guess all I can say is that two wrongs don't make one right.
I mean, I may not be the best example, but I've managed to grow into a dolphin (there are other users who've done a lot better). I've also been able to pay for my mortgage twice this year with my Steem earnings.
In other words, i've allowed the investment to grow enough to where today it can do something.
Have I bought Steem? Yes, but I've also earned close to 3000 SP just by posting and interacting like we are doing at the moment.
So, I get your point, but it's also and I say this respectfully self defeating to think like this.
Nah, the pump was on thin volume and the price went down appropriately as more people shoveled steem off-site.
The ninja mine and the period of high inflation are just further evidence that the game really favors those who got in early and only backs arguments of the pyramidal-shaped nature of the system.
This Is Spinal Tap!!!
Yeah thats all I have to say!