The inflation amount of new coins needs to be reduced or something for the price to go up thats the one thing Steem has going against it compared to others its like FIAT it just keeps printing!
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The inflation amount of new coins needs to be reduced or something for the price to go up thats the one thing Steem has going against it compared to others its like FIAT it just keeps printing!
I agree. The reason steem has been staying at around a dollar is because of the inflation rate. There needs to be a maximum cap of steem just like there is for bitcoin and then the paying system needs to change. I am not sure if that is possible though. Maybe a different steem token can be created, just like there is steem dollar maybe there could be another token that has a max cap that represents steem and the actual steem token used for steempower can be reduced on how many are being created.
Steem inflation rate is lower than many altcoins in the top 20.
The real reason why the price is not increasing is that people still believe in this myth that steem has more inflation...
Value doesn't come from scarcity it comes from utility,utility creates real scarcity, a coin with a max cap but no use is worthless.
Thank you for your response! I guess if we have even 1 tenth of the users facebook has the steem token would surely be worth well over a few dollars if not many many dollars.
STEEMIT is not on track to ever have 1/10 the subs of FB. The site has been static at 25K daily engaged users for more than 3 months
STEEM price is slowly decaying away versus other cryptos due to lack of attention paid to STEEMIT, and lack of attention and success in growing STEEMIT, as evidence by pablopenguins analysis of site traffic.
Sorry to burst your bubble.
Agreed with @snowflake. The reason for STEEM price not going anywhere is the utility of the coin is marginal at best. Everything has been bet SMTs to provide utility. The market is going to be much more mature, with many coins having solidly established and working use cases, by the time SMTs become available on STEEM.
STEEM team has bet the farm on SMTs. IF they don't work out, STEEM is just a repeat of myspace.com. Had a great leadership position with 100 billion USD potential, but blew it and watched others take over the market leader position