More Skin In The Game

The price of STEEM keeps dropping and this is wonderful news for some of us. As @exyle stated over the last few days, he is in buying mode. Hence, a drop in price is very helpful.

A number of people have alluded to the fact that something very interesting is happening. The most recent drop in price, to levels not seen in over 18 months, is causing a shift on the Steem blockchain. There are a number of people using this opportunity to power up and enhance their positions. This only makes the blockchain that much stronger.

We recently crossed over 200M STEEM vested. This is how Steemians show their confidence in what is taking place on here. Powering up removes the liquidity since it is a 13 week process to power down. When one does this, he or she is "investing" in the blockchain.

This is a recent shot from steemd.com.

The total listed for STEEM supply increased which is a feature of the blockchain. Each SBD is redeemable for $.,00 in STEEM. Since this is a debt instrument, it must be accounted for. With the price of STEEM so low, it takes more than 2 STEEM to retire 1 SBD.

Nevertheless, the fact that so much STEEM is being powered up tells me that there are more Steemians now with "skin in the game". To me, this means a more dedicated community.

It is one thing to earn STEEM as a payout for activities done. That is what this blockchain is for. However, there is a different mindset when looking at STEEM that is earned compared to that which is bought.

I can tell you from experience. There was STEEM I have which was earned at $8 when the price of STEEM was up there. I do not look at this STEEM as giving me a $7.60 loss. The STEEM I bought at $1.30, I view differently. Because I used money to acquire it, I know I am down more than $.90 on each STEEM.

Honestly, when it comes to STEEM I do not think a lot about profit and loss like I do some of my other coins. The reason for this is I realize that having SP enables me to amass more STEEM in a variety of different ways. Hence, my $.90 loss is offset since I used that SP for more than a year for my daily activities.

A number of people commented on my posts of late that they bought some STEEM and powered up. This is wonderful. I feel these people will be very happy in the years to come with their decision. I also feel that the blockchain is stronger today than it was a few months ago because of the different people doing just this.

Evidently, there is a big account that is selling STEEM. I would imagine this is someone who earned a boat load of it early on when posting and getting thousands of STEEM per post. Couple this with the absurd inflation rate that existed for the first year or so and you can see how an account can grow.

Of course, there is no way to tell why someone is selling and, it really does not matter. The important point is we are seeing a shift taking place. Newer accounts are now adding as are some older ones. In skimming the numbers, it looks like the Orcas and Dolphins are adding the most MVests while the Minnows are doing well in adding accounts.

More people with skin in the game makes for a stronger ecosystem. These people, I surmise, are excited about the future of what is taking place. Many of the are regular users of the applications already on here and expect more to emerge over the next couple years. I know this is my viewpoint.

With each passing day I get more excited about what is taking place on here.

And how can I not be? Look at what my full upvote is worth right now.