How low can STEEM go?
STEEM price
So currently the price of STEEM is around $0.43 according to https://coinmarketcap.com/currencies/steem/ which seems to be only dropping by the day since the high of approx $4 about 2 months ago.Is this bad news for Steemit?
Not necessarily, because the lower the price goes the easier it will be for the minnows to get a real investment on the platform by "Powering up" for literally pennies on the dollar..But how long can the site sustain at this level?
Currently my upvote at 100% with 100.00% voting power is not even worth $0.01!That is with over 1000 STEEM Power..
According to https://steemd.com/distribution around 90% of the users on Steemit have less than that :/
So imagine how many people on the site that do have less than that who's upvotes really are almost worthless.. If the price of STEEM goes down too much more I'm afraid the site will not have the lure that it had back when we had $40,000 payouts and make up tutorials.
I think steem is going to be a lot like xrp and others that tank in the first few months of being available and then slowly find their legs and start to grow. Since the purpose of steem is basically the community we have then as long as there is value in the underlying asset then there should be value in the currency.
I agree with you. As long as the community exists, steem will always retain value and build itself from there.
I can't tell from your chart (my poor old tired eyes) what the price was immediately before the 'spike' .
I'd say we should be using that as a baseline. NOT the spike.
It looks like around .0003 BTC
Some days, I am afraid of that answer. Most days I am optimistic though.
In the end I don't really care much, it is the best social network available so I am here... and enjoying it. I use Twitter only as a news feed, the others I add commercial content to weekly, but here is where I come to read, learn and share information on a higher intellectual base.
With that in mind, the only direction I see is upward trend, yes with spikes in and troth.
Personally, I think the userbase has expanded well beyond beta, and the quality of the system is beyond beta. But that's a subjective evaluation of course. I'm not sure exactly what the criteria will be to determine that Steem has gone to full release. I think at this point the beta label is just covering of asses, because I don't think that there ever really will be a 'release', and in any case, rolling releases are now becoming the norm in many software projects, for reasons of security, especially.
I too am optimistic about the future, maybe things grew a bit too fast here at the start. The excitement about the potential is important, however the platform is still being developed. Things are getting better, more usable, easier to navigate, with each passing week and every update. I am hopeful for the future, as I think I can envision where this is headed. And its somewhere good.