Now unless you have been under a rock over the past few days you should have been able to realize that the price of Steem has dramatically lost its value.
Source: http://coinmarketcap.com/currencies/steem/#charts
Now I know a lot of people are alarmed that the price is dropping and I understand why. Many people do not want to lose their investment on this site and are quick selling their Steem to get rid of it. In the long run though this act of quick selling will only hurt the currency and keep the price low. There is some good that can come out of this price dropping though. The first one that comes to my mind is that the price dropping can help root out everyone who does not truly believe in this platform and only joined in after the first pump in dump to try to make profit.
Source: https://thetragiclifeoffrank.wordpress.com/
Another reason that this drop can help the community is that since the price is lowing it is easier than ever to try to convince more people to join this platform. I know that there will always be traders trying to make a quick buck on every cryptocurrency but some good news can come out of this price drop. Like how the barrier to join steem is only getting lower for new people to buy Steem and hopefully can bring more authors to post more quality content. Just think of the innovations that can happen with new users. Also I would like to personally thank the developers for constantly improving this platform and making it even more rewarding towards quality content creators and not to scammers.
Lastly, I am going to sum up this article with an analogy to make the title of this article make since. [For anyone who is not educated in Greek Mythology, the Hydra is a beast that when a person tries to cut off one of its heads two more take the previous heads place.] The price drop of Steem is like an unsuspecting hero who tries to cut of the head of a Hydra to try to defeat it. The head that is cut off is the users who only joined this platform to make money. The two new heads are like the new users that will take the place of the old users and make this website even greater.
Source: https://github.com/addthis/hydra
All I know is that there has been too much negativity on this site about the price drop and everyone who has that opinion needs to realize how Steemit can benefit from this price drop.
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