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RE: Pfunk's blog is an example of collusive whales.
Well ya you can make heaps of profit trading it but the hope is steem will be a good future option for social networking rather than something that will eventually fail
if it was going to fail, it would have already failed, the "steem fail" days are long gone. This spaceship is flying at warp speed right now, and I'm enjoying the ride. The destination is in the hands of the developers, not the whales. All that steem is not worth anything without further development and more distribution.
If anything it already failed because of how much the price dropped. Anything that happens now can be considered a revival. Either way I hope the devs make steem a great coin.
Steem was 25 cents when I started buying in June 2016, so for me the price only dropped 10 cents