Having lived through the great crypto winter of '17 I feel confident in the notion that this steady drop over the last few days is healthy and is essentially necessary for Steem dollars to maintain its positive upwards trend in growth. Remember, between November 20th and the first week of December we saw an unprecedented run from just under a dollar to over $7. Expectations of some are tempered, as seen here, at stocksgazette.com, who assumed that Steem trading on exchanges will not sustain it's recent increases in value - however, Steemit/Steem continues to see ever increasing expansion of it's user base with over 8000 new users in just a single day!. The piece from Stocks Gazette not only makes the error of claiming that Steem Power cannot be converted back to Steem, but also make the error of defining Steem as a niche/novelty type of token - rather than recognising it's full potential as an evolutionary economic force for our planet as a whole. More analysis of Steem's userbase can be seen in this excellent post from @arcange,
With the news that Mark Zuckerberg is looking into crypto use within social media, it seems likely that this is an avenue that will be further developed in 2018 as the pyramidal corporations seek to wrestle control of a world that in ever increasing numbers wants to be free and uncensored! Steemit continues to lead the way in terms of crypto integration into social networking and surely has a lot of future potential.
The nature of SBDs maintaining a USD equivalent means that expectations should be tempered, however, the long-term health of Steem as a currency and blockchain seems to be in a good place, thanks to it's intelligent design, it's great supporting community and dev team.
I think we're currently in seeing a correction that will eventually bring a reliability to Steem dollars that could continue to have a positive effect on the community at large. The platform, and by extension Steem dollars and SBDs, are healthier than ever.
Wishing you well,
Ura Soul
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How precisely could the social-media giants integrate the blockchain to subvert early adapters on Steem?
If they wanted to, Facebook could simply tag on an optional blockchain or cryptocurrency pay-reward feature and reduce much of the attraction that people would have towards using steemit. they would not be subverting existing users of steemit so much as just holding on to their existing userbase.
That would be a massive shift in their corporate strategy that would take a long time to navigate. The theory for doing it would be that Facebook's shareholders would be getting a small stake in a much larger pool I guess. Not easily implemented but it would be interesting.
It's got to drop in order to flip.
Good thing that STEEM and SBD are detached from BitCoin movements, cause it looks like something might be beginning to happen.
Reward tokens are going to be the new norm on all internet platforms. Which token makes the cut is still to be determined.
Nice post. Of SBD should begin to rise back like it did last year, I guess a lot of people will want to invest in Steem.
It would be nice to see SBD at a constand $10. I believe it is coming soon.