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RE: Is this why the price of STEEM is struggling? STEEM Withdrawls 2017

in #utopian-io7 years ago

Excellent analysis, thank you!

Since our reputation is as a pay for posting platform, people look to supplement their income and will sell. That downward pressure needs to be balanced by others investing. I think smt's will bring a lot to the table in this regard!

The power down process is already too stringent, imho, and should NOT be made even more so. Where else is your money tied up like this? If you invested in a bank cd, you could pay a penalty to withdraw all your money. Steemit does not have anything comparable. Powering up massive amounts means that you really believe in the long term prospects, barring any changes.

These two issues seem to be our main problems that will hopefully be helped by smt's.

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Smt wont help at all in short term.
Some piece of tech which i doubt has any usecase at present day steemit could deal with 1-2 millions of steem withdrawing each month? You're kidding me.

Time will tell!

@hashclouds you bring some good points to the discussion