I don't think it will recover to it's previous highs anymore. I see more good people leaving and more spammers joining. Also dan leaving steem and powering down, I think we are stuck in these doldrums for almost forever.
Anyway the system here is flawed where the early adopters have too much power. I don't mind them making money but why do they have so much powers to influence the community? Just because a monkey is an early adopter, you would be foolish to make him the king. That's precisely what's happening here and that's why steemit is stuck at these levels
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Yes this is a problem. But it can actually be overcome with enough active accounts who actually invest a little in steem to begin with...
Or by rebalancing the voting powers to get more democracy in. If we rely on the newcomers investing and at the same time the early adopters leave, this is not healthy...
Maybe the faster powering doen times with the last HF was not such a good idea in the long run.
On rebalancing voting power:
I think the curve should have to decrease. The more Voting Weight (SP) you have the more impact is not a good strategy on the log run. The impact of whales needs to be decreased a little. I don't know how that could be done, but maybe others will. Maybe double the time your VP gets back to 100% if you have over 50k SP?
What if like twenty people get together and launch a copy and paste coin of Steem and a website like Steemit to use the new token? Give ourselves millions of the new token, pump it up and then dump and then start another blockchain. Got lots of money and time on your hands? Greedy? There is your formula.
Indeed. Wait - isn´t that exactly what is happening with Steemit right now?