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RE: LET'S TALK ABOUT PALnet: I've mixed thoughts so far; what is your first impression?

in #palnet5 years ago

Hi piotr,

Thank you for answering my comment.

Sink? Meaning? You send PAL tokens to upvote your posts on Steemit via minnowsupport, right? And those tokens are burned (send to null)? Is that right?

Excactly

A bit off-topic: wouldn't you think that people selling their steem and buying all those new tokens available on steem-engine can be a main reason for current drop of steem price? (increased selling pressure)?

I believe that you are quite right about that. I couldn't find out yet why there is an impact on the steem/usd price but I believe that a lot of users sell their steem to buy Palcoin or all the tons of other coins.
I also witnessed that the prices for cards on steemmonsters are increasing constantly. Meaning that there is a big demand for them. I believe that this creates an inderect selling pressure and could well be the trigger for the bigger sell off of steem.

Best regards my friend,

Achim