Thanks for this wonderful post. I learn a lot!
Question about current Steem: who's buying their tokens and why? Obviously based on their current status, there is no room for any imagination or story for investors whatsoever. Even if they give investors good return, still cannot explain why buy tokens in the first place.
My guess would be that Tron (Sun) is subsidizing Steem, for whatever reasons I don't know. But it's pure guess.
I don't think Sun is buying it, could be but, it's probably mostly the general market, indexes, random traders, upbit, etc.
Looking at Hive there's very little powerups from the outside, so it's clear that people who buy it very seldomly read more about it or decide that it's not worth the staking so they may only buy it for its liquid form or decide not to because of all that.
I guess the same with Steem, little buyers but probably less selling of it than Hive cause nothing is happening there except for stakeholders growing their stake.
Thanks for the reply. It makes sense. Today's sharp rise seems to support what you said above as well, esp. the case with STEEM...
If so, it's kind of unfortunate as the price actually affect the resources we can leverage to develop, but it's at the hands of many arbitrators.
Is Sun even implicated in Steem anymore? I think he has bigger dreams and bigger problems at the moment with WLFI. He kind of got the taste of his own medicine, with his funds frozen, exactly what he did with Steem accounts.
Yeah, now I tend to believe that he had left Steem long ago. Then it's more tragic that with years of efforts from the whole Hive community, we cannot make Hive token more valuable than theirs... ouch!
Let's hope price hitting a new all time low was a lesson to many. We need to get ourselves together, stop throwing funds out of the window, fix what's wrong and do the right thing, if we want to survive.