First of all can I say, that was a very well thought out and beautifully presented article, I didn't feel the need to skip forward at any time, and I really enjoyed hearing your point of view.

Essentially you're right, more sellers and less buyers mean low value. With Steem there's always some poor sucker investor who will buy Steem regardless of the price or what it's doing, these people delightfully declare that they are getting "cheep Steem" when the price tanks.

Unfortunately, as well as more sellers than buyers, we have an unlimited supply of Steem, millions of tokens are created every week, and yes, yes, as many people have told me, they aren't "created" per se, however the net result is the same.

At best we are in a zero sum game, however it seems it's actually a negative sum game, whereby for one person to make money, another has to lose.

I was lucky, I got in at the point whereby I could literally print money by creating content, however what you've described above, and the factors that I cite in this answer, meant that the $5 price was never going to hold.

It was a good experiment, and maybe something better will stem from it, or one of these SCOT Tribe or SMTs will find a way of injecting positive sum value into their token.

Until then though, Steem will be worth less and less as more and more is created and sellers still outnumber buyers.

Cg