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RE: Moving to hive
Steemit.com's traffic directly follows the price of Steem, which in turn closely follows the price of Bitcoin.
Steemit.com's traffic directly follows the price of Steem, which in turn closely follows the price of Bitcoin.
That correlation is very interesting. Why would that be? It seems to me that people are running behind the facts. When price goes up everyone want to be part of it, when price goes down they abandon it.
Wow, are people really that easily influenced by sentiment? ...
I think Steem changes in relation to bitcoin because of larger buyers buying/selling using bots as part of portfolios. The relation of posting rate to token value shows that people are using the platform to make money and the lack of social feature development means that in the market place Steem sites are not competitive on their own merit in that regard. People need to be motivated to use the sites with or without rewards, otherwise they will just post elsewhere or do other things when the token value is low and they can be rewarded for their time more effectively elsewhere. That's my opinion anyway!