RE: Open Letter to all Steemians - Hardfork 21: Culture Change
Also, @soy-venezuelien made another great point. There is the ability to transfer value to anywhere in the world. :) From anywhere else. That ability is incredible as well. Currency becoming digital and able to reach places that other currencies can't or can but are taxed insanely/etc... this may not differ from other currencies, but think about how fast you can transfer steem compared to bitcoin. It's insane to even think they can be compared. I've never had bitcoin reach my wallet instantaneously. Well, not for a long ass time now. ;) Also, there are no fees with steem. If I send 1 steem, you get 1 steem. If I sent you a whole bitcoin, you wouldn't get a whole one after fees. The fees for steem are paid out in much better methods, directly to witnesses from the reward pool. (I think? Still new to steem.) As far as a payment processing system goes, nothing can really compete with steem. I can drop cash into a bank account and it'll still take a couple minutes to go through. Turn that into a check and you're looking at at least half a day for most banks, closer to a whole one, maybe two. None of those issues exist within steem.
Also, why is gold worth what it's worth? Limited Supply. Same concept applies here to steem. There is a limited amount. That's how things are. That means only a certain number of people can hold a certain amount and that's it. This provides scarcity and where there is demand and scarcity, there is value increase.
I'm not sure how anyone who understands basic economics could doubt the future of steem. You've seen where it's been when the market was in ideal conditions. Where do you think it will be when conditions become ideal again? Do you think there's potential to go even further? How many more people are part of steem now compared to then? How many of the old users continue to post? To comment? To vote? I think there are many people doubting the future of steem simply because of the low prices currently.
Would there be as many posts pointing out possible negative outcomes, if steem were currently trading at $1? As opposed to $0.18-0.20?
I believe that for steem to have stayed above 15 cents since I have invested into it, is incredible. What this means to me is that there are enough people buying to counter how many people are selling and keep it fairly stable for a while now. Yes, things are low, but if we have the ability to counter the selling off with buying in a market this down... think about the snapback that will have when the markets all recover. Like a rubber band, we are pulling and tugging as the band stretches to lower lows than have been seen in a while. Then, when resistance gives and the markets recover, we snap back. The more we've pulled on this rubber band, the more potential energy we've collected. Maybe I'm fantasizing again, but looking at the charts, I see steem at the very least popping back up to 60-80 cents. That may not be as good for others as it is for me... but I'm sure it would make everyone feel a lot better for it to recover to that level. I just see higher highs, that's all. :)
Sure, I may not have traded steem prior to recently on any markets, but I believe it has the same potential as any other market, to act as those markets have. This means large recoveries for those who are down and massive profits for those who bought in at the low lows. Keep your hope up folks, it'll get much better. I feel it.