Let's make no bones about it, i love STEEM and Steemit but it's moving the wrong way. Dollar price of STEEM is down 98% from it all time high time, users numbers and activity are down and before you know it, ......poof. We are down to 300-500 active posters everyday thinking how did this happen? It's time to take action now and save STEEM
What are people motivated by? Money!! If STEEM were worth more, maybe more people would join and more people would remain. It's a simple thought but during 2017 when the price of STEEM went up so did new members and activity was through the roof. I dont think we'll ever get back to those days but somewhere between where we are now and where we were than would be nice. The plan is simple, we buy all the STEEM!
There is currently 95 million STEEM on exchanges and if i know something about anything, it is the price of something goes up when there are more people buying than selling. If lots and lots people buy small amount of STEEM, they could have the power to take a big chunk off exchanges thus pushing the price of STEEM up. They then use that STEEM to buy tribe tokens, power up are use for something use. Based on steemit having around 35,000 active users on any given day, if each one of them accounts were to buy $10 worth of STEEM collecting $350,000, we would get a total 2.5 million STEEM are almost 1% of total supply. That might not sound like alot think about what effect would 1% of all BTC disappearing off exchanges have on the price? Plus daily volume for STEEM over all exchanges is around $240,000.
The idea is simple enough. An account would be created to let users pay using fiat through paypal and receive STEEM in return. It could be a weekly group buy that runs from Sunday-Saturday were people send whatever amount of money they what to a paypal account in whatever fiat currency they use in their country and receive STEEM in return. I would be interested to know if other people would be interested in this. Below is the basic way it would work
People looking to take part would send any amount of money they wish to convert into STEEM using paypal. Each person would be requested to leave a memo including there username so i know who the payment belongs to and i would update the buyers table in post to confirm i have received your payment. Any payments coming after Saturday's cut off time would carry through to the next week.
That is it in a nutshell, not that hard to do. Im not sure if a project like this is cool are not and there could be some sort of problem with offering a service that converts fiat in crypto. If someone knows something about that, please speak up so i know if this idea is a dead duck
Pulling together and buying all the STEEM and just HODLing it would have a positive effect throughout the whole STEEM eco-system and other frontends such as dtube, steempeak, steemleo ect would see gain from this. I think it's a great idea and buying little and often could be the key. I understand that not everyone would have $5-10, we all live in different countries were wages and earning are not the same but at the same time, it all evens out as lots of people might buy $20-50 worth.
This would also provides some people an excellent way to buy STEEM if they are not signed up with any exchanges are just want an easy fix. Let me know what you think about this idea.
