Steem has hit what I think is a new low, position #80 in market cap on coinmarketcap.com, I don't remember it being that low, so it is reaching new records at a fast rate, wonder if we are going out of the top 100, this really is a possibility because it looks like Steem is not following the trend the other alts are following.
Now this has me could I say flabbergasted? You know, with a price as low as this and going lower it means nobody is buying it which is ironic as you buy when the price is low right? But it seems Steem does not act like other coins and in fact I have read more than a few articles from people who are heavily invested emotionally or financially in Steem who are now unsure of what comes next and are not putting any more money into the platform.
This is very bad, because if nobody buys, if Steemit Inc keeps selling Steem and a lot of people are powering down how can the price go up? Can you see the paradox of what I wrote, nobody is buying and yet STINC is selling, so who is it selling to? My idea is that the only people who are buying any Steem are the people who buy votes from bid bots, if this is true how can we want bid bots to expire if they are really Steem's lifeline? And no, I don't use bid bots and I don't like bid bots but we have to face certain things.
Now I hope the people who want 50/50 rewards can figure something out, as far as I know the reward pool is 50,000 Steem a day which at the current price and 75/25 rewards is say $15,000.00 a day, giving $11,250.00 to authors. If we apply 50/50 that would be 15,000-10% for Steemit Inc = 13,500.00, better said $6,250.00 for authors and already bid bots, self votes and circle jerks take at least 60% of this, so we have about $2,500.00 to be shared between thousands of people who post daily. I think that really means, even if a lot of people don't want to see it a huge migration from Steemit, unless of course a huge uptrend happens before implementation of HF21, but is that possible?
And I hope you can see what will happen, STINC's much promoted $100,000.00 ad revenue will be heavily diluted making it necessary to sell more Steem, thus making it that much harder for Steem's price to go up. I think, really witnesses and all others who are just itching for HF21 to happen should actually take out pen and pencil and do some math.
