I think this site needs some updates for the price to go back up. Right now, Steemit feels more like a workplace than a legitimate social hangout. Most people join in hopes of making a buck, not to have fun. We gotta turn that around somehow.
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I have already kind of experienced this with other social media pages. I seriously believe that most people are turned off by the idea of being paid to post content. Most of my Facebook friends felt as though its either a scam or that they dont deserve the money or that they are not really capable of posting good content so they shut down and simply stick with Facebook instead.