Solid fundamental analysis. I'm still of the mind that the price will continue to fall until there is actual incentives to remain powered up when compared with the opportunity cost of not powering down OR the price reaches an actual support floor with new buyers and market entrants. Haven't hit that yet and you point that out quite well.
Right now there is none and everyone is powering down, myself included.
I must be the silly one staying powered up and converting SBD to STEEM to power up. I can still imagine a future where people want to use SBD over currencies and want to purchase STEEM to power up and gain influence within the network.
No one can say you are silly it is simply a market decision being made people on opposite sides of a trade. In hindsight, one will be right the other will be wrong, but ahead of time, who knows?
Thanks Smooth. That's at least a nice way to think about it as I swim against the pack of power downs. :)
@blakemiles84 My next post is along those line, watch this space ;)