But... what will happen to SteemIt if STEEM goes to $10...?
Most users don't have a lot of money to let it tied in a Social Networking site.
I'm one of them. I've bought 83 STEEM to Power Up and that gives me a $0.01 voting power.
With Steem trading at $10, I'd have to buy $800 worth of STEEM just to get a $0.01 voting power... Or $80,000 just to get a $1 voting power. Would anyone do it? I think not. Cause it would be outrageous.
For this site to work, the STEEM token can never fluctuate much more than this. In fact, if STEEM were 1/2 or a 1/4 of this price, it would allow more users to buy STEEM to convert into Steem Power... thus making the Network grow.
So, what do we want...? This site working...? Or money into our pockets at the expense of the collapse of Steemit.com ?
I think you're misunderstanding how this works. If the price of STEEM goes to $10 then the value of your votes would go up 10X. So your 83 SP would give you a $0.10 vote instead of $0.01.