In a few days from now, the Steem blockchain will experience a hard fork that will come with radical changes.
While mixed reactions have continued to trail the proposed changes that HF21 will bring (especially that involving the new 50/50 curation reward system), I personally look forward to HF21.
This is because I see the 50/50 curation reward system nearly as significant as the forthcoming Bitcoin halving in May 2020.
Just as Bitcoin halving has historically caused the scarcity of Bitcoin and driven price upwards, the introduction of a 50/50 curation reward system is like Steem halving, one that should cause the scarcity of Steem and drive price significantly within the next three months.
I hold these views for the following reasons:
The 50/50 reward system will drastically reduce the amount of Steem that can be earned. Although this is a setback for content creators in the short run, the reduction in the earnable Steem will reduce the market supply of Steem - thereby likely driving price upwards.
Also, the 50/50 curation reward system will give power to the true stakeholders, those who have large Steem Power. Since more Steem will go into the hands of those who have investment mindsets, we can expect the selling pressure on Steem to decline sharply. And of course, I guess you know what that will do for price.
Not only that, the 50/50 curation reward system will likely bring back runaway investors. These old investors are likely going to return because, more than ever before in the history of Steem, investors now have reasons to hold Steem.
In conclusion, I believe that HF21 is going to positively affect the market value of Steem. For me, it is better to earn a fraction of Steem that will worth a lot than to earn a lot of Steem that will only worth a fraction.
I wish you a full Steem ahead.
Yours,
Gandhibaba.
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