RE: RE: Steem Price Falls Further... Do We Need A Culture Shift? @Promo-Mentors: Conceptualizing An Education Platform
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RE: Steem Price Falls Further... Do We Need A Culture Shift? @Promo-Mentors: Conceptualizing An Education Platform

RE: Steem Price Falls Further... Do We Need A Culture Shift? @Promo-Mentors: Conceptualizing An Education Platform

I will definitely check out your discord space - this is an interesting move. :)
When it comes to price drops of Steem, I think a big part of the issue is that, by design, Steem guarantees that a percentage of the money used to buy Steem will just 'disappear' into the pockets of witnesses and Steem posters (whales).. So as a 'classic' cryptocurrency that can be relied on to grow in value just due to it being attractive to investors, it is not so great. If the utility aspect of the token were more balanced and posters could be rewarded more equally (without whale sized accounts just taking most of the rewards regardless of the quality of their posts), then more people might use the social networks and thus also then more people might be able to see past the fact that a significant percent of all money paid into Steem will 'drain away' through the social aspect.

In short, the social network aspect of Steem MUST be a success for Steem to increase its value and this has been lagging behind.. But maybe the next 6 months will change that.

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